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Author Topic: From what I heard, Barnes is out  (Read 8807 times)

JamesCube

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From what I heard, Barnes is out
« on: February 08, 2007, 10:43:52 AM »
When I heard today that Ebonite has purchased Columbia, I also heard that all pro staff working for Columbia and the other companies were dropped.  They will have to renegotiate deals or move to another company.  

If that's true, Barnes must be fuming because I do not think Ebonite will give him the same deal that Columbia threw at him.  I do not know how companies deal with something like this when the company itself changes hands.
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jkiser01

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Re: From what I heard, Barnes is out
« Reply #1 on: February 08, 2007, 07:10:46 PM »
Until an official announcement is made from Ebonite, I don't believe any rumours or anything else thats said..
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strikenout

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Re: From what I heard, Barnes is out
« Reply #2 on: February 08, 2007, 07:53:34 PM »
i second that people should shut up and wait for something to come out
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BirwinJR

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Re: From what I heard, Barnes is out
« Reply #3 on: February 08, 2007, 09:22:45 PM »
Staff meeting will be on Saturday to talk about contracts
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BrooklynSlop

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Re: From what I heard, Barnes is out
« Reply #4 on: February 08, 2007, 09:40:44 PM »
They can't "drop" contracts. Contracts are agreements between two parties constituting a commitment on BOTH ENDS. They must fulfill the contract or pay it out in one lump sum (contract buy out).

I'm sick of all the BS rumors floating around. Keep your mouth shut if you aren't speaking from the source.
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~Slop~

scotts33

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Re: From what I heard, Barnes is out
« Reply #5 on: February 08, 2007, 09:47:19 PM »
quote:
They can't "drop" contracts. Contracts are agreements between two parties constituting a commitment on BOTH ENDS. They must fulfill the contract or pay it out in one lump sum (contract buy out).


Tell that to all the pro team athletes who renegotiate their contracts after a good year continually Slop.  
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Scott

mrbowlingnut

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Re: From what I heard, Barnes is out
« Reply #6 on: February 08, 2007, 10:17:29 PM »
This guy knows somebody hmmmmmmm



quote:
Staff meeting will be on Saturday to talk about contracts
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YeahHossNV

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Re: From what I heard, Barnes is out
« Reply #7 on: February 08, 2007, 10:54:39 PM »
Technically the corporation that signed them no longer exists. That should void all contracts.
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crankncrash

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Re: From what I heard, Barnes is out
« Reply #8 on: February 08, 2007, 11:00:08 PM »
Barnes is out sorry...
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golfnutFL

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Re: From what I heard, Barnes is out
« Reply #9 on: February 08, 2007, 11:00:21 PM »
Are you a contractual lawyer? I doubt it. While not an attorney I am involved in many contractual negotiations. It is a rare circumstance where a purchaser is responsible for the contracts of the company that they've purchased.

I will give you a simple example. Say a person owns a investment property. They sign a contract with a management company that allows the management company to rent, clean and maintain the property. The contract even contains a clause that says that the contract is binding upon heirs of the signer. This person dies. Are the heirs contractually obligated to continue this relationship under terms signed by the deceased. Under Florida law, the answer is 100% NO. The heirs did not sign nor were party to the contract. It is void.

I'll give you another example, this time commercial. A skilled nursing facility has contracts with a pharmacy and a therapy company. The owners are broke and sell the facility. Are the new owners bound by the contracts and are they responsible for any unpaid invoices prior to the date of purchase? The answer under Indiana law is NO.

So don't be so sure that Ebonite can't "drop" contracts. They were not party to them in the first place. Just because you buy a business doesn't neccessarily mean that you are obligated to fulfill the contracts of the seller. If Columbia no longer exists as an entity those contracts are likely unenforcable. Go after the prior owners if you don't like it, but most likely the new owners are not responsible (unless they agreed to assume responsibility under the purchase agreement, which I think would be foolish).  

quote:
They can't "drop" contracts. Contracts are agreements between two parties constituting a commitment on BOTH ENDS. They must fulfill the contract or pay it out in one lump sum (contract buy out).

I'm sick of all the BS rumors floating around. Keep your mouth shut if you aren't speaking from the source.
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Don't argue with an idiot; people watching may not be able to tell the difference.
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bluerrpilot

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Re: From what I heard, Barnes is out
« Reply #10 on: February 09, 2007, 03:20:01 AM »
quote:
Technically the corporation that signed them no longer exists. That should void all contracts.


Who said Columbia no longer exists? When Ebonite purchased Hammer way back when, they didn’t just stop existing.


What about the sales reps to pro shops and wholesalers. Ebonite might want to use there own people there. As well as moving manufacturing to KY.
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newman891

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Re: From what I heard, Barnes is out
« Reply #11 on: February 09, 2007, 03:29:56 AM »
Being from KY and having worked for several attorneys on contract work, here is what I understand.  When a business is completely bought by another that business, in essence, ceases to exist.  Business 1, having been bought by business 2, is now simply a part of business two.  If there is negotiation prior to sale that business 1 will continue to be its own part of business 2 and merely under its supervision, then contracts with business 1 prior to sale will still be viable.  However, if no such understanding is reached before merger or buyout, then all contracts with business 1 will have to be renegotiated with business 2.

Otherwise known as...

If Barnes or anyone else who worked for Columbia is going to continue to work for them, they will have to go through Ebonite first (onless of course it was already negotiated prior to C300 being purchased).
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clintdaley

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Re: From what I heard, Barnes is out
« Reply #12 on: February 09, 2007, 04:33:33 AM »
While I do not know the ins and outs here, don't forget the last time this happened, when Ebo bought Hammer...remember who had a six figure contract with Hammer that Ebonite did not take.....Walter Ray. Walter is still owed lots of money.....

Clint
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Sawuser

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Re: From what I heard, Barnes is out
« Reply #13 on: February 09, 2007, 05:19:08 AM »
quote:
Until an official announcement is made from Ebonite, I don't believe any rumours or anything else thats said..
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I think the great slump of 2006-2007 is finally coming to an end!!


I agree with this, mainly because I'm not all knowing like some here seem to be. This reminds me of the lane1 forum
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CoachJim

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Re: From what I heard, Barnes is out
« Reply #14 on: February 09, 2007, 05:39:25 AM »
quote:
Barnes is out sorry...  


You sure there isn't something you can do? You know for old time's sake?

Well just let Mike know it was just business.
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