Lord Toad Posted October 25, 2005 Report Share Posted October 25, 2005 This is not a flame but given who Showtime is (clearly published on this site) I find the excessive use of the word greed more than a little hypocritical. The raison d'etre for his business is the profit motive, or maybe it is greed in his eyes! However I am not sure this case is totally about greed. I believe it is as much about need and frustration. TC had tried to sell Cathouse for a long time and had done this with Boss Hog's knowledge. As Showtime acknowledges BH wanted to control the sale and under those circumstances any sale was likely to be sabotaged by him. TC complained he had little or no response from Sunbelt and I am sure that is because they knew it was a waste of time. In the end he found a way to do the deal because he needed the money (I suspect) and desperately wanted to get out. And this is where I do blame the Boss. In Thailand normally if you sell a lease it is fairly straight forward. You find a buyer and the head leaseholder gets a percentage of the sale price. But nothing is that easy with BH and he was trying to control the sale with presumably the idea denying TC a profit on the lease. A profit BH knew existed and indeed TC efforts had made: by turning a totally worthless bar into a half successful bar. The suggestion is that after the deal was struck that BH has been a nice guy and helped to the new tenants to straighten out the deal and they now have a proper lease. Nice guy: how about it was the practical solution as eviction was not a quick option and hey they look like good tenants. Next comment removed by me! If there is a moral to this story it is do not do business with Boss Hog. As has been suggested in several other posts his motive is greed and only greed he will get every single penny out of a deal and screw you. Of course that may also be called the profit motive. In the end TC was wrong and I am saddened by that and by the whole incident. Link to comment Share on other sites More sharing options...
Yehtmae Posted October 25, 2005 Author Report Share Posted October 25, 2005 I'd be amazed if they were actually arguing about who has the rights to sell the 'furniture, fixtures & equipment' in the Cat House! If it had a total value of > 50K then I'd shag the old bat who cleans up in the afternoon! Link to comment Share on other sites More sharing options...
elef Posted October 25, 2005 Report Share Posted October 25, 2005 Just a question - has BH his lease contract directly with the indian owners? What I heard is that he is further down the chain and that BH has a (thai) boss who also should expect to receive key money. Link to comment Share on other sites More sharing options...
Yehtmae Posted October 25, 2005 Author Report Share Posted October 25, 2005 There's a holding company that owns *all* the leases of all the property in Nana Plaza. BH *probably* has a direct lease from them, although maybe not. Link to comment Share on other sites More sharing options...
Dumsoda Posted October 25, 2005 Report Share Posted October 25, 2005 Interesting stuff with many and varied opinions and interpretations. Just goes to back up the old ..."How to make a small fortune in Thailand".... theme IMO If anyone's interested in making a "killing" on a really good Gem Stone deal, PM me....I'll sell you mine.......LOL... I've got a question as well.... How many sub leases can a leasee sub lease, if a Leasee could sub lease, leases???????? Amazing Thailand, indeed Link to comment Share on other sites More sharing options...
elef Posted October 25, 2005 Report Share Posted October 25, 2005 "I've got a question as well.... How many sub leases can a leasee sub lease, if a Leasee could sub lease, leases????????" Many, the real bosses are hiding but take a big percentage. Link to comment Share on other sites More sharing options...
Pom Michael Posted October 25, 2005 Report Share Posted October 25, 2005 This same situation goes on in other places too. Examples: 1) Chatuchak Market 2) Siam Square Both very highly publicized problems with leases and sub-leases in the last year. Link to comment Share on other sites More sharing options...
dean Posted October 25, 2005 Report Share Posted October 25, 2005 How hard would it be to go to a government office and look up all of the leases issued onthat property (the Cathouse bar)? Link to comment Share on other sites More sharing options...
Guest Posted October 25, 2005 Report Share Posted October 25, 2005 A lease is only registered if it is longer than three years. Because a government fee must be paid when a lease is registered, and that fee is base on the lease amount (can't remember the percentage), lessors generally want to avoid registration. Hence, to do a thorough search, you'd need to start with the owner and work your way down. Link to comment Share on other sites More sharing options...
torrenova Posted October 26, 2005 Report Share Posted October 26, 2005 suadum said:LOL...and we have a winner. That is *exactly* it! And the books proved it. Cheers, SD Not exactly rocket science is it ? I constantly develop business models and physically test them periodically. I've looked at loss leaders as well. Still looking for the "perfect" solution ! Link to comment Share on other sites More sharing options...
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