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SVTPerformance's Chain of Restaurants
Pics and Videos Buffet
Two more excellent reasons to hate Treynor
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<blockquote data-quote="DAVESVT2000" data-source="post: 15999544" data-attributes="member: 3099"><p>True story, local dairy bar - ice cream, burgers, seafood, etc owned by a little old Greek lady. Open six months out of the year, spends her winters in Florida, new Mercedes-Benz every other year.</p><p></p><p>She happens to be located at one of the busiest signalized intersections in town.</p><p></p><p>Developers for years been trying to buy her out, do a gas station on that corner, all other parcel owners on board. her building is a postage stamp lot with parking for maybe 12 cars but it’s the corner lot, the final piece of the puzzle.</p><p></p><p>Last I heard she was offered $1.2 mill and said “come back when you’re serious” to the broker.</p><p></p><p>Friend of mine said how could she turn that down ???</p><p></p><p>I said after taxes she’s looking at about $800,000</p><p>Let’s assume she’s putting $100k a year in her pocket - did I mention it’s an all cash business, no credit cards ?</p><p></p><p>So after taxes she just sold out for the equivalent of 8 years income.</p><p>Now what does she do ???</p><p></p><p>My long winded point is $1 million is NOT a lot of money these days.</p></blockquote><p></p>
[QUOTE="DAVESVT2000, post: 15999544, member: 3099"] True story, local dairy bar - ice cream, burgers, seafood, etc owned by a little old Greek lady. Open six months out of the year, spends her winters in Florida, new Mercedes-Benz every other year. She happens to be located at one of the busiest signalized intersections in town. Developers for years been trying to buy her out, do a gas station on that corner, all other parcel owners on board. her building is a postage stamp lot with parking for maybe 12 cars but it’s the corner lot, the final piece of the puzzle. Last I heard she was offered $1.2 mill and said “come back when you’re serious” to the broker. Friend of mine said how could she turn that down ??? I said after taxes she’s looking at about $800,000 Let’s assume she’s putting $100k a year in her pocket - did I mention it’s an all cash business, no credit cards ? So after taxes she just sold out for the equivalent of 8 years income. Now what does she do ??? My long winded point is $1 million is NOT a lot of money these days. [/QUOTE]
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Two more excellent reasons to hate Treynor
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