archanfel
Active Member
The Sun seems to be crying foul about a deal in which TCHC will "sell" 20 houses worth about 8.4 million for less than $400,000.
JOE WARMINGTON wrote "You don’t need a business background to know this is just nuts. It makes bunny suit rentals look like a shrewd investment."
Well, Joe, my suggestion is that you get some business background before you calling this nuts. Businesses let go their non-performing asset with huge discounts all the time.
TCHC didn't "sell" the houses, they "transfered" it. The difference is that if TCHC had sold the houses, they needed to purchase the another 20 houses by law, according to TCHC at least. Now, they don't have to.
This is an interesting case because you really do need some background in business and perhaps some in legal to fairly evaluation the transaction. We will see how Ford perform on this one.
In the mean time, do you think this was a good deal (economically, not ideologically)?
JOE WARMINGTON wrote "You don’t need a business background to know this is just nuts. It makes bunny suit rentals look like a shrewd investment."
Well, Joe, my suggestion is that you get some business background before you calling this nuts. Businesses let go their non-performing asset with huge discounts all the time.
TCHC didn't "sell" the houses, they "transfered" it. The difference is that if TCHC had sold the houses, they needed to purchase the another 20 houses by law, according to TCHC at least. Now, they don't have to.
This is an interesting case because you really do need some background in business and perhaps some in legal to fairly evaluation the transaction. We will see how Ford perform on this one.
In the mean time, do you think this was a good deal (economically, not ideologically)?