Off-topic Discussion

That which does not fit elsewhere. Please remember the community rules when posting and try to be polite and inclusive.

Need advice

djskiggz 2:28 AM - 16 June, 2009
So we had the big meeting today @ work. We are now officially owned by a new company.

The company is Carbiz inc. they do "buy here, pay here" auto sales.

Quick background on the company:

Carbiz owns auto dealerships indirectly, does all it's financing, and provides the dealer with the capital to buy cars, pay bills, make loans etc. You (the consumer) go to the dealer to buy a car, get approved by the dealer and then would just pay @ the dealership rather then the finance company directly. The company (Carbiz), does all the collection work for the dealer so the customer pays the dealer. The dealer then just make monthly payments to Carbiz with interest, etc. (sort of like a bank).

In my current business, we did indirect consumer lending. Meaning we would finance single auto loans the dealers would make with customers based on our own credit check of the consumer, etc. We would approve the loans, buy the loan from the dealer @ a discounted price and then the consumer would make monthly payments to us +interest etc.

During this recession period a lot of finance companies went out of business and the "buy here, pay here" companies are thriving due to less competition.

-----------------

Now for the interesting part, the company told us that for now we all have our jobs and will continue business as usual. They said they are interested in getting into the indirect financing business as well as the "buy here, pay here" model. However, they do not plan on buying any more deals due to the recession, etc. They said they want to see how things go and predicted that we will be sort of on a stalemate until January 09.

I asked the new boss "What motivation do they have in getting into the indirect financing business rather then continue to do the "buy here, pay here" model?" He sort of beat around the bush, said they know what their doing, they have smart people and ya da ya da ya da. Basically he didn't say shit and didn't answer the question.

I had hoped he would say something like, "well there are benefits here and there, we think that a lot of money could be made, we see a lot of potential in making this part of the company grow...blah blah blah." .....and whatever right?" But nooooo he gave me the bullshit answer. I could totally read my old boss' body language. They seemed to be hiding something. So now I'm sort of at odds here, we've been at a stalemate for like 6 months already -- not sure if we'll have our job or what and now they are saying it will continue for another 6 months? Wow....

What my problem is here is.....why the fuck would they get into indirect financing when "buy here, pay here" is much more profitable? What is the point? They basically want us to stick around to see what happens but I'm not sure if I want to anymore. I've already waited 6 months and I'm not about to stay another 6 months somewhere where there is no motivation for me to stay. I feel like something else is going on here that they are not saying.

What do you guys think i should do?
DJ d.range 3:48 AM - 16 June, 2009
quit
phaeton 3:57 AM - 16 June, 2009
Get another job dude or a back up plan, sometimes not knowing whats gonna happen can really make working there difficult.
djskiggz 4:57 AM - 16 June, 2009
I'm thinking of asking them for a retainer fee, like ask for like $8,000 to keep me for six months. I know for sure they absolutely need me if they plan to keep the company running that long. I do so much there that no one else knows how to do. If i leave, they'll be screwed.
Dj-M.Bezzle 1:56 PM - 16 June, 2009
i know its slim but you know there is a slim chance they do know what their doing but dont want to give away plans yet, it may be a drastic change to the company that wouldnt require the loss aof any jobs. I worked for a computer company that had something similar happen a few years ago, they were bought out and everyone thought they were gonna lose their jobs, didnt happen, then they drasticall changed how our comapny was run and put unqualified people in positions they shouldnt be in, everyone figured they were gonna get fired....didnt happen. Then they bought a totally unrelated company and everyone and changed their busniess model, people thought they were idiots....it worked pretty well for the company. Usually when a company buys another company it usually has a very well defined vision and pln on what to do with it, its not like someone just wakes up one day and goes i think well buy that comapany THEN figure out what to do with it. If they have the finances to buy your company they probably are doin pretty well themselves and probably do know what their doing. After the purchase its like buying a boat you have it and you still need personel, aka you guys. Companys buy out other comapanys as assets to create revenue not just to close them down. Theres probably alot they arent telling you guys but i dout its because anyones losing their jobs, its more likley because they dont wanna show their cards to everyone, which is good busniess. It wouldnt make sence to tell you guys the whole plan so you gyuys tell people and word gets out in the industry
ZESH! 2:45 PM - 16 June, 2009
Get Plan B

I agree with Bezzle...big plans.
If you haven't been told, you're probably not included. But, If you are as important as you say you are, maybe there is something in it for you. Quite honestly, you're the only one who really knows.
Dj-M.Bezzle 3:49 PM - 16 June, 2009
Have a backup but remember that its easier for them to just train current employees to do new shit than it is to just hire new people, i think the question will come down to if you acutually want to do whatever your new job will be.
djskiggz 3:52 PM - 16 June, 2009
the thing is...I'm hearing conflicting stories also from the director. He is telling me he spoke with the new owner and says they are trying to sell the portfolio to another finance company now. Which makes sense because I've seen several different people comming in and looking at our files. And according to the director they are from Premier Auto Credit. He said that their main reason Carbiz bought our co. was for the credit line. Carbiz now has a 100,000,000 credit line with wellsfargo and also has full rights to the subdebt which is 2.5 million. That was part of the deal since Star owed wells about 8 million in debt. Apparently wellsfargo is behind everything.
djskiggz 4:15 PM - 16 June, 2009
what do you guys think of asking for a $6,000 - $8,000 for me to stick around for 6 months? anyone ever done that?
DJ Bushido 5:17 PM - 16 June, 2009
Quote:
I'm thinking of asking them for a retainer fee, like ask for like $8,000 to keep me for six months. I know for sure they absolutely need me if they plan to keep the company running that long. I do so much there that no one else knows how to do. If i leave, they'll be screwed.


They would never pay that. Just an FYI

It looks to me that they are liquidating the company, showing profit, and no new out cost. I have seen companies do this, then when they sell all the cars, they show a low cost, then have a co-company dump all there cars from another dealership, then sell the company, the other dealership win's with the company that is selling, but makes the new owners find that running a dealership is hard then it is. But the case is that, it was based on false profits.
djskiggz 5:23 PM - 16 June, 2009
We're not a dealership, we're a finance company. We don't sell cars...

I'm not sure i understand what you're saying there.
latindj 5:29 PM - 16 June, 2009
I think you should go work for Sixxx. Get your orange selling business going and work for yourself. :)

Don't ask for the retainer. They will laugh at you and then probably let you go as you will not appear to be a team player. Just roll with it. Another day with a job is a good day...have you even tried looking for a job these days? Don't bother.

It could be that they want to prepare themselves for the economic recovery and be ready to offer the new loan types when people start buying again. Not a bad plan if you ask me. If they can expand their business, why not? They are capitalizing at the moment with the buy here, pay here deal but when the economy rights itself, and all indication points that it is slowly doing so, then they will also be in a better position to offer the other type of loans once they are more feasible again.

Good luck brother!
DJ Bushido 5:35 PM - 16 June, 2009
Quote:
We're not a dealership, we're a finance company. We don't sell cars...

I'm not sure i understand what you're saying there.


I re-read the post, I did not have my coffee. Sorry. Latindj is right, if you ask they will think you are not a team player. as for looking for work, that is why I am a full time DJ. It is very hard to find work out there. more and more people are out of work, but when it gets back. there will be lot's of bennies to go around. always have a backup plan. keep what you got but plan for the best.
good luck. in the end all will be set right ;)
Dj-M.Bezzle 5:54 PM - 16 June, 2009
ya def dont ask for that to me that sounds like your putting an expiration date on yourself, you shouldnt have to ask for a retainer just to do the job you were hired to do lol. If i was them id pay it to you and put you on the list for gone after 8 months. In the case they do plan on keeping you guys then they want people who are going to be willing and able to adapt to the new system not people who are ready to go or stuck on the old one
djskiggz 6:06 PM - 16 June, 2009
Hmmm. Thanks for the advice.

I still kinda feel that I deserve some sort of retainer fee to stay. I can already tell that he is counting on me to help him with the transition. I mean, I am also taking a risk here by staying with the company, right? They have not told us for certain that the company will continue, only that it will be business as usual and "hopefully" things will pick up and we can start generating business again in January. This is exactly what the old boss told us back in november 08. And he ended up just selling the entire portfolio and business.

I'm trying to think what motivation do I have to stay? I've already stuck it out for 7 months of uncertainty and now I have to stay another 6 months with uncertainty. They can't fire me for asking right?
djskiggz 6:12 PM - 16 June, 2009
maybe latindj is right, maybe i should just quit and me and sixxx could just sell organges together. I mean, i'm half mexican, so that would make me a legitimate employee. Lol.
Dj-M.Bezzle 6:26 PM - 16 June, 2009
Quote:
Hmmm. Thanks for the advice.

I still kinda feel that I deserve some sort of retainer fee to stay. I can already tell that he is counting on me to help him with the transition. I mean, I am also taking a risk here by staying with the company, right? They have not told us for certain that the company will continue, only that it will be business as usual and "hopefully" things will pick up and we can start generating business again in January. This is exactly what the old boss told us back in november 08. And he ended up just selling the entire portfolio and business.

I'm trying to think what motivation do I have to stay? I've already stuck it out for 7 months of uncertainty and now I have to stay another 6 months with uncertainty. They can't fire me for asking right?



If their counting on you to help in the transition than your important enough to keep, if they said its busniess as usuall and their hoping things pick up than it sounds like their gonna keep going, the company will continue. It dosent seem to me that your taking any more risk in staying with this company than you would be taking if it was the old company, whenever your employed you run the risk of being let go or going out of busniess, you say youve stuck around 6 months and now 7 more....may be a sign that your ok...besides what motivation do you have for staying? the same motivation you had before and that getting a check that you can use to purchase food and pay bills. They cant fire you for asking but if they do plan on cutting staff than those kinda questions can move you up the list, while being Mr helpful in the transition and being loyal will be a plus.

Either way my advice is dont ask for the money bust your ass and be captian awsome durring the transition, then when you go home at night start shooting out some resumes on monster and look into other jobs, theres no sence in quitting and not getting paid and being unemployed because you think you MIGHT get let go. If you cant find a job by the time you think theyll fire you then you wouldnt have found one anyways. If you find someone who wants to hire you then reevaluate your situation with youir current company at that point. It may end up just like they say and youll keep working there, and if you really show out during the transition mabye they can incorporate you into their system if they do liquidate the company. Companys always need hard workers
djskiggz 7:21 PM - 16 June, 2009
thanks bezzle, good points. Wow.....I just was given a printout from the director who was copied on an email from the new boss. They're talking about some weird things that look shady. They are talking about selling part of the portfolio (The cash payment) customers and the ceo was telling our current boss to tell us everything "is business as usual". Seems shady.
djskiggz 7:25 PM - 16 June, 2009
the ceo was said, "we need to start getting things together so we can monetize some of Star's portfolio" also was talking about getting a list of all our payment codes our tellers use to process the incomming payments and get full access to megasys (our company's operating system) so they could run the payments from florida.
djskiggz 7:28 PM - 16 June, 2009
Monetize:
To convert debt into money
To establish as legal tender.
To coin (money).
To convert (government debt) from securities into currency that can be used to purchase goods and services.
Dj-M.Bezzle 7:42 PM - 16 June, 2009
skiggz from what youve told me about how your company was run in older threads, this all may sound shady and foreign to you, but turning debit into money and attempting to cut losses and make profit\generate revenue is a normal part of a successful busniess
djskiggz 7:52 PM - 16 June, 2009
yea but what about them talking about taking the customer payments from florida and selling the cash payment customers? These are customers who pay in our office every month. Why the fuck would they do that if they didn't have plans to close up shop?
latindj 8:01 PM - 16 June, 2009
skiggly wiggly,

one thing you can do, if your close enough to the higher management, is have a private conference with them and ask them, face to face, what is the company's direction now and in the near future? Listen to them and have some good responses ready for whatever answers you think they might give you.

for instance, if they say "we are continuing business as usual"...you reply, cool. you know I've been a dependable and reliable employee to you and will continue to do so.

if they say, we are changing things up...you reply, how do I fit into your plans? you know that I am a hard worker and would like the opportunity to grow with the company if that the direction you are taking...blah, blah, blah...

if they say, we are uncertain....then you say, ok and start looking for another job asap.

you get the idea...
Dj-M.Bezzle 8:04 PM - 16 June, 2009
Quote:
yea but what about them talking about taking the customer payments from florida and selling the cash payment customers? These are customers who pay in our office every month. Why the fuck would they do that if they didn't have plans to close up shop?



Like i said before they may have plans to take your office in an entirley different direction. Instead of taking cash payments at your office they may want to take all payments in flordia and turn you into their marketing Dept, or a lunch room ect ect (made up examples). The company i mentioned before bought out another company and trained them to do our acounts recievable. Its all up to what their master plan it.....you could be right too of course i just want you to be aware of all possibiliies
DJ d.range 8:04 PM - 16 June, 2009
is there any way to screw them?
djskiggz 8:07 PM - 16 June, 2009
I could print a check to one of our vendors, forge my boss's signature, and then sign off the back of the check so i could deposit into my own account Lol.
djskiggz 8:08 PM - 16 June, 2009
i think im going to do what you said latindj.
Dj-M.Bezzle 8:09 PM - 16 June, 2009
Quote:
I could print a check to one of our vendors, forge my boss's signature, and then sign off the back of the check so i could deposit into my own account Lol.



felony criminal acts are 1 route you could take with the possibility of a job loss......also if you really think their planning on letting you go just show them your awsome progressive on the Scratchlive finance league and let them know your too valuable an asset to lose
djskiggz 10:21 PM - 16 June, 2009
haha already made 25k !
Dj-M.Bezzle 5:48 PM - 17 June, 2009
skiggz, i was just reading an article and if whats happening in your company has you worried and looking for another company then you should lookpast that into whats going on in your statre as a whole, what you SHOULD be doing is tring to figure out a way to transfer to their flordia office and work for them there.....from the looks of it californias 1 bounced check away from hocking used VCRs on the corner
djskiggz 5:58 PM - 17 June, 2009
Fuck that! I love Cali. I rather be unemployed. Then I'll just collect unemployment and husle for gigs.
Dj-M.Bezzle 6:10 PM - 17 June, 2009
Quote:
Fuck that! I love Cali. I rather be unemployed. Then I'll just collect unemployment and husle for gigs.



.....where is cali gonna get the money for your unemployment??
latindj 6:13 PM - 17 June, 2009
from you...federal bailout! lol
djskiggz 6:14 PM - 17 June, 2009
haha exactly!
Dj-M.Bezzle 6:15 PM - 17 June, 2009
nope obama said no to that already
Dj-M.Bezzle 6:17 PM - 17 June, 2009
www.nytimes.com

WASHINGTON — The Obama administration has gone on the record again that it will not use federal stimulus money to prop up California as it wrestles with its fiscal problems.
“It’s obviously not an easy time for the State of California,” the White House spokesman, Robert Gibbs, said Tuesday at a briefing after The Washington Post reported that top state officials had requested aid. “We’ll continue to monitor the challenges that they have, but this budgetary problem unfortunately is one that they’re going to have to solve.”
\
Mr. Schwarzenegger’s communications director, Mike David, said: “We are in complete agreement with the White House that California should be solving its budgetary problems on its own without a bailout from the federal government. Governor Schwarzenegger has stressed time and again that we need to get our own fiscal house in order, and that’s exactly what he has proposed to do. The governor has not asked for federal assistance to address California’s fiscal crisis.”

State officials have said California will run out of cash in less than 50 days. Last month, Mr. Schwarzenegger did ask for a $6 billion loan guarantee to back the state’s debt. But Treasury Secretary Timothy F. Geithner, speaking to Congress, said he was skeptical that he had the authority to provide aid to the state without new legislation, a view that Mr. Gibbs echoed
djskiggz 6:20 PM - 17 June, 2009
all the company's still in business will pay for it. Payroll taxes have been going up and up in cali.
djskiggz 6:25 PM - 17 June, 2009
and if we run out of money, the federal government will step in to fund the trust fund. Unemployment benefits don't impact the california budget.
bourbonstmc 8:07 PM - 17 June, 2009
Quote:
But Treasury Secretary Timothy F. Geithner, speaking to Congress, said he was skeptical that he had the authority to provide aid to the state without new legislation, a view that Mr. Gibbs echoed


Better double-check everything the treasury secretary says with the white house talking head!
FunkyRob 11:49 PM - 17 June, 2009
I say be glad you still have a job in this economy.

Keep it for as long as you can. It's going to be hard as hell to find a new job if you quit. Especially if you want to stay in the same industry.
djskiggz 3:41 PM - 18 June, 2009
Thanks for all the advise fellas, I went ahead and sent a email to the operating ceo @ the moment....he's in florida right now. No response yet! Hope this works lol.

Email:
Quote:

--------------------
Dear Paul,



I apologize for this long email, I know you are busy. However, I feel the need to write you. Moreover, I urge and hope that you would share this email with your superiors.



As you probably know, we have waited seven long months for Star to position itself to start up business again. You can probably imagine the questions we have had on our mind since then. The question of uncertainty has lingered in our minds for months -- which can be very stressful. Personally, I have lost sleep over it. I am grateful to finally be able to rest knowing that Carbiz has taken ownership. I have had the pleasure to research the business and from what I’ve gathered, the business appears to have its head in the right place so naturally I am happy to possibly have the opportunity to grown with them.



As with every company who is sold to a new owner, there are personal attributes, ethics, and professional accomplishments each employee has shown to the previous employer over the course of their employment. Obviously, with new management, those qualities and accomplishments are naturally lost. Therefore I feel it is important that I have the opportunity to share mine with you. I know we have not had a moment to meet individually, and you may have plans to meet with me already. However, before we meet- I would like to take a moment to give you some insight as to who I am, why I am here, as well as ask you a few questions.





I began my employment at Star over 3 years ago. Over those three years, I have established a solid foundation here. I have been involved in many different aspects of Star Financials business and I am very familiar with our entire business model. I have moved up in rank starting as a loan processor, to credit analyst, to teller, insurance, and accounts payable specialist, to assistant of the Director of Finance, and now remain as the Systems & Accounts specialist. Mark, George, and Tony will vouch for me when I say that I have exceeded their expectations and have shown a very strong worth ethic and dedication to the company.



Furthermore, I understand the roots of our system, have superior knowledge of Megasys, and have an innate ability to teach myself anything. Since my employment began I have worked under a principal of “learn everything”. Under that principal I have gathered invaluable knowledge of our business, internally and externally. Also under that principal, I have had the pleasure to involve myself in many different projects that would otherwise be forgotten. One of those new projects was dealer bond claims. Since given the responsibility in July 2008, I have collected over $75,000+ in denied insurance claims, warranties, and bond claim recoveries. Anyone who has worked in this field will tell you that recovery from a bond is very difficult and requires strong argumentative skills and legal expertise. Since July 2008, I have been able to teach myself those skills and the protecting laws that have forced those recoveries.





As far as my questions are concerned- Obviously, anytime a company is sold, there are concerns of the employees and their future with the new company. I am particularly concerned with mine. I have researched your business and I am somewhat skeptical about what it is that Carbiz plans to do here. I understand that some details of the transition are confidential and I do not expect to be told everything. I also understand that your company is a business. Sometimes businesses need to keep things confidential in-order to profit. However, I am uncomfortable currently and therefore I have been prompted to write this email.



First of all, I understand that Carbiz works through a business model of “buy-here pay here”. From what you’ve told me, Carbiz is interested in the “indirect financing” business model as well. I am familiar with “buy-here pay here” business and from what I know, the “buy here, pay here” business is thriving due to the increasingly demand of credit and decrease in competition from other finance companies such as ourselves (Star). So why is it that Carbiz plans to adapt the “indirect finance” model, rather then remain “buy here, pay here”, solely? Is this really Carbiz plan, and why?



Secondly, some of the recent events seem a bit abnormal to me. For instance, in our meeting yesterday, Mark had mentioned the other finance companies. It is not logical to me that you and Mark would be meeting with other finance companies “so they could see that the portfolio was performing and it passed the test”. Who are these other finance companies and why are they here?



Moreover, you advised that things would be “business as usual” for 6+ months, or until the “time is right to buy”- sometime possibly in January 2010. How does Carbiz plan to maintain the company’s office without generating any form of new business? Our current portfolio is naturally liquidating itself which will mean less of a work load. Doesn’t that mean layoffs?



Furthermore, Carbiz does not operate in California currently. So why would Carbiz open an office here under a “let’s see what happens until January” attitude? I’m sure Carbiz has some very smart people working for them who would not go through with this transaction without a concrete plan. That just doesn’t make sense to me. I know Carbiz has recently partnered with DSC, which I’ve had the opportunity to work with due to title issues/bond claims. Is it possible that this transaction or this office will become part of the CLASS program in California?



Today I was advised to hold all future payables since they would now be paid out of Florida. As you know, this is my responsibility currently. Why is that responsibility being taken as if the company is getting ready to run things from Florida? This along with several other events naturally creates doubt in my mind which I’m sure you can understand.



Finally, as much as I would love for the opportunity to grow with Carbiz, there are doubts that lead me to question whether or not Carbiz feels the same. Does Carbiz have any long term plans specifically related to my future with the company? If there are no long term plans for me, please let me know so I can pursue other job opportunities I have in my grasp.



I apologize for being so blunt with my questions, but this is my future and I hope you understand. I feel that it is appropriate that these questions be answered so that any doubts about my future can be laid to rest.



Thank you for taking the time to read through my thoughts, I very much appreciate it and look forward to your response.



Respectfully,



David.
Dj-M.Bezzle 3:47 PM - 18 June, 2009
Quote:
Thanks for all the advise fellas, I went ahead and sent a email to the operating ceo @ the moment....he's in florida right now. No response yet! Hope this works lol.

Email:

Quote:

--------------------
Dear Paul,



I apologize for this long email, I know you are busy. However, I feel the need to write you. Moreover, I urge and hope that you would share this email with your superiors.



As you probably know, we have waited seven long months for Star to position itself to start up business again. You can probably imagine the questions we have had on our mind since then. The question of uncertainty has lingered in our minds for months -- which can be very stressful. Personally, I have lost sleep over it. I am grateful to finally be able to rest knowing that Carbiz has taken ownership. I have had the pleasure to research the business and from what I’ve gathered, the business appears to have its head in the right place so naturally I am happy to possibly have the opportunity to grown with them.



As with every company who is sold to a new owner, there are personal attributes, ethics, and professional accomplishments each employee has shown to the previous employer over the course of their employment. Obviously, with new management, those qualities and accomplishments are naturally lost. Therefore I feel it is important that I have the opportunity to share mine with you. I know we have not had a moment to meet individually, and you may have plans to meet with me already. However, before we meet- I would like to take a moment to give you some insight as to who I am, why I am here, as well as ask you a few questions.





I began my employment at Star over 3 years ago. Over those three years, I have established a solid foundation here. I have been involved in many different aspects of Star Financials business and I am very familiar with our entire business model. I have moved up in rank starting as a loan processor, to credit analyst, to teller, insurance, and accounts payable specialist, to assistant of the Director of Finance, and now remain as the Systems & Accounts specialist. Mark, George, and Tony will vouch for me when I say that I have exceeded their expectations and have shown a very strong worth ethic and dedication to the company.



Furthermore, I understand the roots of our system, have superior knowledge of Megasys, and have an innate ability to teach myself anything. Since my employment began I have worked under a principal of “learn everything”. Under that principal I have gathered invaluable knowledge of our business, internally and externally. Also under that principal, I have had the pleasure to involve myself in many different projects that would otherwise be forgotten. One of those new projects was dealer bond claims. Since given the responsibility in July 2008, I have collected over $75,000+ in denied insurance claims, warranties, and bond claim recoveries. Anyone who has worked in this field will tell you that recovery from a bond is very difficult and requires strong argumentative skills and legal expertise. Since July 2008, I have been able to teach myself those skills and the protecting laws that have forced those recoveries.





As far as my questions are concerned- Obviously, anytime a company is sold, there are concerns of the employees and their future with the new company. I am particularly concerned with mine. I have researched your business and I am somewhat skeptical about what it is that Carbiz plans to do here. I understand that some details of the transition are confidential and I do not expect to be told everything. I also understand that your company is a business. Sometimes businesses need to keep things confidential in-order to profit. However, I am uncomfortable currently and therefore I have been prompted to write this email.



First of all, I understand that Carbiz works through a business model of “buy-here pay here”. From what you’ve told me, Carbiz is interested in the “indirect financing” business model as well. I am familiar with “buy-here pay here” business and from what I know, the “buy here, pay here” business is thriving due to the increasingly demand of credit and decrease in competition from other finance companies such as ourselves (Star). So why is it that Carbiz plans to adapt the “indirect finance” model, rather then remain “buy here, pay here”, solely? Is this really Carbiz plan, and why?



Secondly, some of the recent events seem a bit abnormal to me. For instance, in our meeting yesterday, Mark had mentioned the other finance companies. It is not logical to me that you and Mark would be meeting with other finance companies “so they could see that the portfolio was performing and it passed the test”. Who are these other finance companies and why are they here?



Moreover, you advised that things would be “business as usual” for 6+ months, or until the “time is right to buy”- sometime possibly in January 2010. How does Carbiz plan to maintain the company’s office without generating any form of new business? Our current portfolio is naturally liquidating itself which will mean less of a work load. Doesn’t that mean layoffs?



Furthermore, Carbiz does not operate in California currently. So why would Carbiz open an office here under a “let’s see what happens until January” attitude? I’m sure Carbiz has some very smart people working for them who would not go through with this transaction without a concrete plan. That just doesn’t make sense to me. I know Carbiz has recently partnered with DSC, which I’ve had the opportunity to work with due to title issues/bond claims. Is it possible that this transaction or this office will become part of the CLASS program in California?



Today I was advised to hold all future payables since they would now be paid out of Florida. As you know, this is my responsibility currently. Why is that responsibility being taken as if the company is getting ready to run things from Florida? This along with several other events naturally creates doubt in my mind which I’m sure you can understand.



Finally, as much as I would love for the opportunity to grow with Carbiz, there are doubts that lead me to question whether or not Carbiz feels the same. Does Carbiz have any long term plans specifically related to my future with the company? If there are no long term plans for me, please let me know so I can pursue other job opportunities I have in my grasp.



I apologize for being so blunt with my questions, but this is my future and I hope you understand. I feel that it is appropriate that these questions be answered so that any doubts about my future can be laid to rest.



Thank you for taking the time to read through my thoughts, I very much appreciate it and look forward to your response.



Respectfully,



David.



hahah ok so you sent the op CEO a resume then called their plans illogical and questioned their motives.......you either just earned yourself a job interview or a really long vacation...good luck on the job search
latindj 3:48 PM - 18 June, 2009
dude, you should have talked to him face to face like I suggested....many won't say shit in writing (email). good luck, bullet is in the chamber....let's see who pulls the trigger...
djskiggz 4:03 PM - 18 June, 2009
haha i don't give a damn!!! I have nothing to lose.
Dj-M.Bezzle 4:04 PM - 18 June, 2009
nothing to lose...you dont value a paycheck much do you??
djskiggz 4:04 PM - 18 June, 2009
that's the way I see it, either i'm going to be laid off now or offered a job.
Dj-M.Bezzle 4:05 PM - 18 June, 2009
dude you have a job stop putting in applications for positions you have
Dj-M.Bezzle 4:06 PM - 18 June, 2009
i can see you now showing up to your own gigs and handin the people who already hired you demos
djskiggz 4:26 PM - 18 June, 2009
I know for a fact I do not have a job, it is bullshit. The plan is for the company to sell peices of the portfolio and operate the remaining out of florida.

I've seen a letter from the CEO that was written to the guy who is managing our company. (He printed it out on our printer and I made a copy). The CEO was telling him to make sure he has "happy" meetings with us and to tell us things are just "business as usual". Meanwhile he's talking about getting all of our cash payment customer accounts together so we can sell that peice of the portfolio.
djskiggz 4:57 PM - 18 June, 2009
Quote:
dude, you should have talked to him face to face like I suggested....many won't say shit in writing (email). good luck, bullet is in the chamber....let's see who pulls the trigger...


Yeah I know he won't say shit in the email. Because if he does say something that turns out to be a lie, I could sue. That email was basically sent to stir up shit so he could either fire me or offer me some sort of pay to stay. He's supposed to be @ the office on monday so I expect him to either let me go or talk to me about the email. If he doesn't approach me. I am going to approach him. Depending on his response, (meaning if he lies to me) I am going to let him know that I will continue to do my job but I can't guarantee I will be here tomorrow, the next day, or even next week.
djskiggz 4:58 PM - 18 June, 2009
can they fire me (for good reason) for saying I might leave?
latindj 5:19 PM - 18 June, 2009
I would fire you for just being an ugly mofo...
Dj-M.Bezzle 5:22 PM - 18 June, 2009
Quote:
I know for a fact I do not have a job, it is bullshit. The plan is for the company to sell peices of the portfolio and operate the remaining out of florida.

I've seen a letter from the CEO that was written to the guy who is managing our company. (He printed it out on our printer and I made a copy). The CEO was telling him to make sure he has "happy" meetings with us and to tell us things are just "business as usual". Meanwhile he's talking about getting all of our cash payment customer accounts together so we can sell that peice of the portfolio.



you do realise thats typical talk for someone who just purchased a new company, panicky employees dont work well, they did the same place at the last place i worked when a company bought them and their still in busniess and the same employees are there (3 years later)
Dj-M.Bezzle 5:25 PM - 18 June, 2009
Quote:
can they fire me (for good reason) for saying I might leave?



no but typically the best thing to do when buying out a new company is get rid of people who are going to disturb the new culture, people who hold on to the old way of doing things, people who arent worth a shit, and people who do stuff like this

Quote:
That email was basically sent to stir up shit so he could either fire me or offer me some sort of pay to stay..
djskiggz 5:57 PM - 18 June, 2009
well we'll see what happens. I honestly could care less what happens. If i am fired oh well ill collect unemployment and dj until i'll find another job. I'll probably make more money doing that anyway. This myth that there are no jobs out there is BS. If you're talented and have determination you can get employed.

And what are you talking about latindj, i'm dead sexy!
Dj-M.Bezzle 6:04 PM - 18 June, 2009
Man i wish i had that kinda optimism.....you do realise you have extensive experience in a drowning field in a drowning industry in a drowning state right
latindj 6:08 PM - 18 June, 2009
can you collect unemployment from being fired? Not sure about that...
djskiggz 6:14 PM - 18 June, 2009
But you do realise people will always need cars, and there will always be financing needed for those cars right? Drowning, I don't think so. It's not like all the sudden people are going to stop driving. Hurting right now due to the recession? Yes.
djskiggz 6:15 PM - 18 June, 2009
by fired, i meant laid off.
djskiggz 6:18 PM - 18 June, 2009
I am not worried about finding another job. I am going to find one and I will find one if I need to.
latindj 6:20 PM - 18 June, 2009
Quote:
I am not worried about finding another man. I am going to find one and I will blow one if I need to.


tmi...
latindj 6:31 PM - 18 June, 2009
He who speaks without modesty will find it difficult to make his words good.
-Confucius
djskiggz 7:48 PM - 18 June, 2009
fuck that puto
latindj 8:01 PM - 18 June, 2009
Quote:
I fucked pluto


I assume "doggy" style? (no misquote)
Dj-M.Bezzle 8:28 PM - 18 June, 2009
Quote:


He's supposed to be @ the office on monday so I expect him to either let me go or talk to me about the email. If he doesn't approach me. I am going to approach him. Depending on his response, (meaning if he lies to me) I am going to let him know that I will continue to do my job but I can't guarantee I will be here tomorrow, the next day, or even next week.


You know what skiggz ive been thinking about your situation and since your headstrong determined to leave i think you should just walk up and punch the dude square in the nose, show him whats up. Youll be a hero in the industry and how many chances will you ever have like that
djskiggz 8:44 PM - 18 June, 2009
lol...
latindj 8:47 PM - 18 June, 2009
nah, don't punch him as you're bound to get sued....

pull your cock out and wave it around and say "say hello, to my leetow frang mang"

No dude is ever gonna admit he got the cock pulled on him. lol! (no misquote)
djskiggz 9:20 PM - 18 June, 2009
LOL wtf
djskiggz 9:20 PM - 18 June, 2009
i got a response, he's gonna meet with me monday. We'll see what happens!!

Quote:
David,

Well written and insightful.

Thank you.

I have forwarded to Carl Ritter.
If it's OK with you, I will get with you on Monday to share info and direction.

Will be tied up tomorrow, like today, with shareholders and Director Meeting.

How's the day going?

phaeton 1:54 AM - 19 June, 2009
Quote:
i got a response, he's gonna meet with me monday. We'll see what happens!!

Quote:
David,

Well written and insightful.

Thank you.

I have forwarded to Carl Ritter.
If it's OK with you, I will get with you on Monday to share info and direction.

Will be tied up tomorrow, like today, with shareholders and Director Meeting.

How's the day going?

Good for you skiggs, some people just sit and wait for things to happen losing sleep, getting stressed wondering how things are gonna end up at least now you've said your peace and can get a definite outcome.Good luck.
djskiggz 2:50 AM - 19 June, 2009
thanks phaeton. That's exactly what i'm saying. Fuck hanging around waiting for something to happen. I'm gonna make something happen!
Dj-M.Bezzle 2:15 PM - 19 June, 2009
ok sounds good heres your oppritunity, when you get him alone in his office proceed to promptly beat the shit outta yourself and break shit and say he attacked you for sending that email questioning his logic and threaten to sue the company if you dont get that 10 thou retainer you asked for
djskiggz 3:31 PM - 19 June, 2009
lol like jim carey in that one movie
Dj-M.Bezzle 3:51 PM - 19 June, 2009
i was acutually thinking more along the lines of fight club with edward norton
Nicky Blunt 6:25 PM - 22 June, 2009
Yo skiggz let us know what happened man! this is like a soap opera!!!!!
djskiggz 7:06 PM - 22 June, 2009
I got the flu and called in sick today. So no interview today. I've been bedridden for 2 days already. Feel like I got my ass kicked.
Nicky Blunt 7:11 PM - 22 June, 2009
Shit man Im really sorry to hear that!

Hope you get better soon!

& that Your boss don't see this as a waste of his time now!!
Dj-M.Bezzle 7:16 PM - 22 June, 2009
dont give us that stuff you got scared and backed out you just gave the managment a mental edge in this cat and mouse game come on man get outta bed and march down there like paul pierce in game 4 and let em have it eye of the tiger kid eye of the tiger!!!
Nicky Blunt 7:20 PM - 22 June, 2009
lol
djskiggz 7:23 PM - 22 June, 2009
lol that's how i felt this morning but I just couldn't get myself to go. This flu is really hitting me hard....can't remember the last time I've felt this fucked up. It's like a hangover that won't go away but only it's like 5x worse.
DJ DECK 7:32 PM - 22 June, 2009
I just got over the flu a couple of days ago. I know what your feeling. I got diagnosed with bronchitis and was prescribed some antibiotics for a week.

Good luck when it comes to the meeting though, keep us posted.

Oh, and don't listen to Beezle about the whole Paul Pierce thing, you'll end up getting the boot for sure, lol. Have more of a Kobe approach. lol
Dj-M.Bezzle 7:47 PM - 22 June, 2009
Quote:
I just got over the flu a couple of days ago. I know what your feeling. I got diagnosed with bronchitis and was prescribed some antibiotics for a week.

Good luck when it comes to the meeting though, keep us posted.

Oh, and don't listen to Beezle about the whole Paul Pierce thing, you'll end up getting the boot for sure, lol. Have more of a Kobe approach. lol



rape his wife??
latindj 8:29 PM - 22 June, 2009
Skiggz been fucking with the pigs....Swine Flu!
DJ DECK 8:35 PM - 22 June, 2009
(lol. I knew that was coming. lol.)
More of a champion type approach. ;)

skiggz, make sure you have some demos in hand that way if you end up getting the boot you can hand them down your demo and tell them you will play at their corporate parties and charge them up the ass, in the 8k-10k range. j/k
Dj-M.Bezzle 9:13 PM - 22 June, 2009
Acutually now that ive had a chance to think about it you really should have gone to work to talk to the new manager....and when he called you in for the meeting you should have sneezed all over your hands several times, then got a cup of water or something and taken a few sips and brought it to him to have for the meeting, cough a bit in the meeting, shake his hand firmly on begining and end of meeting and make sure he drinks.....hell be sick as hell for months and thatll be your payback to those bastards
DJ DECK 9:52 PM - 22 June, 2009
note to self: don't get Bezzle mad. /\/\/\ lol
djpuma_gemini 3:59 AM - 23 June, 2009
[trump voice]
You're fired [/trump voice]
djskiggz 8:30 PM - 24 June, 2009
just got out of the meeting...

So it turns out that I was right...they only purchased the company in-order to get the credit line from wells.

He said they really have no interest in starting up the company here and at this point they really prefer to sell the portfolio to another company. He said the only way they would transfer the portfolio to florida and lay everyone off is if the entire collection team quit.

Basically they are counting on us to keep the portfolio performing so that another company can come in and buy it and take over. He kinda painted a rosey picture around it- saying if they sold, they would include the current staff as part of deal and it would be up to the new company to do whatever they wanted to do with us.

He also said if they are unable to find a buyer, they are looking at us as sort of an insurance policy and said that from the getgo they knew they had to consider us as part of the deal. He said as long as we are continuing to work the portfolio they are willing to fork out the money to keep us doing our job, even though the workload will be limited. Then in january if the time is right to buy, they will go through with a plan for starting up new business, etc. etc.

He had the meeting with everyone so I didn't really get to discuss retention pay, etc. I'm not sure if I should ask anymore. Eh.......
DJ DECK 8:39 PM - 24 June, 2009
I don't think they'll pay that much consideration to skiggz. Just ride it out, I guess. As long as you keep getting that check, it's all good, no?
Dj-M.Bezzle 8:47 PM - 24 June, 2009
Quote:
just got out of the meeting...

So it turns out that I was right.......



How the hell does that make you right you were saying they were just gonna liquidate the company and fire everyone, you were on the verge of taking your stapler home and blowing the building up. Thats accutually the opposite of what you were saying lol
djskiggz 9:04 PM - 24 June, 2009
well i ment about them buying the co for the credit line and that them telling us that bs about keeping the company for 6 months, etc. I knew something else was going on and I was right.

I guess i'll just stick around to see what happens.
latindj 9:14 PM - 24 June, 2009
sit your fucking ass down, shut up and work.
latindj 9:15 PM - 24 June, 2009
^lol! j/k
bourbonstmc 9:44 PM - 24 June, 2009
Quote:
sit your fucking ass down, shut up and work.


x 1,000,000
djskiggz 10:45 PM - 24 June, 2009
lmao that was great
djskiggz 10:59 PM - 24 June, 2009
theres new people in the office looking at our loans....

they're jewish. (not looking good for us)
DJ Bushido 6:00 PM - 6 October, 2009
2 Jews walk in,
2 Weeks Later
They Own it!

lmfao