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#11
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In article >, "Steve Smith"
> writes: >Usually, when one outfit buys another, they assume both the assets and the >liabilities as part of the deal. Now that Cingular has bought AT&T >Wireless, for example, how would you like it if--as an AT&T customer--your >pre-paid cell-phone plan wasn't honored by Cingular? Generating gobs of ill >will drives customers away in droves. Preserving good will is just good >business. No, I understand why previous customers would be ****ed. I just didn't know that the buyer also assumed the liabilities of the business. So, what happens if those liabilities are mis-represented? Having to honor pre-paid stuff you weren't aware of could ruin a business. Eldred -- http://www.umich.edu/~epickett Screamers League IICC League GPLRank -6.0 MoGPL rank +267.80 Ch.Rank +52.58 MoC +741.71 Hist. +82.34 MoH:na N2k3 rank: -1.047 Slayer Spektera lvl 79 assassin Slayer Spectral_K lvl 44 Necro US East |
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#12
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That's why we're a nation of laws...supposedly.
"EldredP" -OFF> wrote in message ... > In article >, "Steve Smith" > > writes: > > >Usually, when one outfit buys another, they assume both the assets and the > >liabilities as part of the deal. Now that Cingular has bought AT&T > >Wireless, for example, how would you like it if--as an AT&T customer--your > >pre-paid cell-phone plan wasn't honored by Cingular? Generating gobs of ill > >will drives customers away in droves. Preserving good will is just good > >business. > > No, I understand why previous customers would be ****ed. I just didn't know > that the buyer also assumed the liabilities of the business. So, what happens > if those liabilities are mis-represented? Having to honor pre-paid stuff you > weren't aware of could ruin a business. > > Eldred > -- > http://www.umich.edu/~epickett > Screamers League > IICC League > GPLRank -6.0 MoGPL rank +267.80 > Ch.Rank +52.58 MoC +741.71 > Hist. +82.34 MoH:na > N2k3 rank: -1.047 > Slayer Spektera lvl 79 assassin > Slayer Spectral_K lvl 44 Necro > US East |
#13
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#14
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EldredP wrote: > In article >, "Steve Smith" > > writes: > > >>Usually, when one outfit buys another, they assume both the assets and the >>liabilities as part of the deal. Now that Cingular has bought AT&T >>Wireless, for example, how would you like it if--as an AT&T customer--your >>pre-paid cell-phone plan wasn't honored by Cingular? Generating gobs of ill >>will drives customers away in droves. Preserving good will is just good >>business. > > > No, I understand why previous customers would be ****ed. I just didn't know > that the buyer also assumed the liabilities of the business. So, what happens > if those liabilities are mis-represented? Having to honor pre-paid stuff you > weren't aware of could ruin a business. > > Eldred A well known game company cratered that way (partially) a few years ago. Microprose? IIRC, They bought a German firm that later turned out to be in debt to a bank for millions of dollars. Again IIRC, they backed out but lost millions themselves on it. - Matt |
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