July 6, 2009
This was it....
Sometime after the summer of 2008 came to a conclusion, the last of the Lakeside parties were just fond distant memories, and another setback in court, we gathered to discuss our next move.
The economy was starting to tank, and it appeared that with the election looming and the polls not in our favor things were headed for a hard landing. Fortunes were being lost daily, peoples retirement savings were being decimated, so we sat down to discuss all options.
Five hundred seventy five thousand dollars was a steal. Our original goal, our only goal, was to see that "whomever" bought the cottage paid a fair value for it. We had been stymied, bullied, lied to at every turn, and we were forced to deal with some of the most inept, incompetent and unscrupulous individuals anyone could have imagined.
We talked about how things might have been different had we had the luxury of numbers been on our side, 66% ownership vs 33% instead of 41% vs 59% ownership. Might the judge and facilitator viewed this differently? Who knows. I can't help feeling that the outcome could have been different had Stu participated and fought alongside us for a better deal. In the end he not only hurt his cause he hurt ours as well, and that is unforgivable.
So the decision was made, while going over numbers with mother regarding other issues, it became clear that now was the time to end this. The financial markets were going down fast, portfolios flush with cash two years ago were no longer, and in most cases valued 30% to 50% less as a result. The idea of having to liquidate the equivalent of 800K plus to generate 575K was no longer a prudent decision. We felt that most sane, inteligent people would walk away from that prospect.... Further more the Real Estate market had taken a hit with values down 20% to 30% with the bottom no where in sight, it was in the end an easy decision, a sad decision, but the right decision.
Our only concern was that David would somehow come to his senses and realize what the cost of this was going to be and reconsider.
As Barnum said, "there's a sucker born every minute"
So the decision to stop the madness was made, but not the motions it seemed.
More to follow......