.....screwed over by a greedy owner.

http://kxro.wordpress.com/2011/12/21/the-grinch-fund-volunteers-need-your-help/

Why do you hate the free market? Why are you such a socialist? Greedy owner? Why are you in to this Class Warfare?</snark>

This is a good thing.

Just to set the record straight for the undereducated in GH, this situation has nothing to do with a free market system where prices are established by competition among private businesses not controlled by a government.



Yep.

Your lumpenproletariat neighbors say "Whaaa?"... But are vaguely reminded of what they love about you.

<snark> The business owner is exercising his freedom to pay or not pay whatever he wishes. After all, it's his money, right? Why should we punish success?

If you don't like freedom, return to Russia comrade. </snark>

If the employees are to have redress from Mr Aziz, they have socialist concepts like worker protection to thank for it.

Charity is a virtue, but charity to mitigate the misdeeds of the owner of KABO, LLC is what they call moral hazard. It insulates Mr Aziz from the ramifications of his theft.

I suggest one of those signs should be placed in this neighborhood.

FWIW, He had enough money on October 26th to pay the taxes on his nearly new $537,000 house.

I fail to see how charity/gifts would insulate Aziz.
I would imagine the Small Claims Court would also fail to see how.

When you rob a "job creator", you are thrown in jail and your assets seized.
When the "job creator" robs you, he gets a bonus and your neighbors hold a spaghetti feed to help you pay your bills to other job creators.

I can't decide whether you've imbibed too much of Aunt Shelly's grog...or not enough.

He's deep in the haze of senility. Drunk senseless are never fun at parties.

You are not making a lot of sense. Where do you get the idea that he is not going to eventually pay these folks? An LLC insulates you from nothing and if he is the owner of the LLC he is going to pay.

The job creator is always on the hook if he owns the LLC and if he has any assets.

The LLC does insulate Mr Aziz from business liability, hence the name "limited liability company".

The other businesses under the "KABO Investments LLC" umbrella, (if any; "job creators" are smart enough to ask the state to create a new LLC for each logical business location) may be on the hook for the wages he neglected to pay his Aberdeen employees, but he, personally, is not. Unlike the homes of his former employees who were expecting a paycheck, his is probably not at risk.

His liability is limited to what he invested in the business and loss of future income from it. That's the whole point of an LLC.

Unless the court proves that KABO Investments is a legal fiction, the employees will get unemployment, welfare, donations from the community, and will get in line with other claimants to fight over the scraps of KABO Investments LLC. They will get nothing from Mr Aziz or his other businesses unless he decides to buy a plate of the spaghetti.

http://en.wikipedia.org/wiki/Piercing_the_corporate_veil

You are deluded.

Actually I think you are mistaken. Bankruptcy and the LLC will protect from most things except the IRS. They will track him down until he pays everything that should have been sent into the goverment or until they settle with him.

I have been awaiting an attorney to weigh in on this. My full knowledge on this has been being told not to count on an LLC protecting me by someone who should know. No one screws the IRS over.

Reading TDW tonight I find that Aziz went through a Chapter Seven personal bankruptcy as well as his three restaurants going through a Chapter 11. The pickings might be slim for creditors.

An LLC doesn't pay income taxes. The profits pass through to the owners who pay personal income taxes on those profits.

I only point out this distinction because the LLC limits the owner's liability for all business activities related to the business. Federal income taxes are unrelated to the business.

The county can't put a tax lien on an LLC owners home to enforce payment of the property taxes that the LLC owes, for instance.

You are correct. I wasn't thinking of income taxes, however. I was thinking of employee payroll taxes. If you don't send your employee's payroll taxes in, they will hunt you like wild boars.

http://www.nolo.com/legal-encyclopedia/llc-basics-30163.htm


LLC's do help protect the individuals, however, most of times when you get a loan, the lender will require the individuals to guarantee the loan outside of the LLC.

Nearly $17,000 raised!! Good job Grays Habor.

Plus the news this morning about a Denny's co-op pledging another 3 G's and promising jobs to any of the employees wanting to relocate.

And, even bigger, the President of the co-op said they were looking in to the possibilities of getting the restaurant back into the Denny's fold.

Excellent news.

'Philanthropy is commendable, but it must not cause the philanthropist to overlook the circumstances of economic injustice which make philanthropy necessary.' - Martin Luther King