Single Status Update
I do work for a guy. He's independently wealthy and made a lot of money playing the stocks. 9 years ago we started a company, which branched into a second, and a side project became a third. Then a giant national company came to us and we had to start a forth just incase we messed up big time and had to cut the company loose if we angered the client. Each company employes a lot of people, especially the fifth.
Anyway, today my manager just blurted out that he's in the middle of a divorce and his wife would be getting 50% of all companies. He even spent a year trying to tank the first two companies to lower his income so he'd have to pay less money to her. But now his lawyer said, she'd get 50% of his share of all future company earnings. She'd own 25% of the company.
The first three companies badly need that 25% being put back into them to stay alive!
As he was explaining all of this, he came up with an idea. Give me all of the companies. Sign them over to me and postpone the divorce 6 months, because his state's law says if he gave it away today and got divorced tomorrow, that wouldn't count. Gotta wait 6 months.
So I get 5 companies, because he trusts me and I'm already 2nd in command already and I do the majority of the work anyway. Its just that I don't have people skills or degrees that he does.
Now I get to fly and sign some documents saying he gives me the companies. Well for tax reasons he can't give them to me, I need to buy them for $1. The plan is that in 2012 I give him back his percentage of the company. I plan on bringing a business lawyer to make sure the companies aren't getting sued or anything.
Kinda reminds me of how the Hogans divorced at the threat of being sued by the kid their son crippled by drag racing.