Quote:
Originally Posted by spawn
Members will need to maintain the Contributions every year for the site to remain. It's not a once and done deal.
I don't get it - the contributions are to fund lawsuit defenses. If Rich doesn't get sued, yet theoretically accrues enough funds for a deemable legal defence, why do we need to continue contributing if he has not yet exhausted those contributions yet?
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Well, if you would like, contact your local friendly attorney and see how much a lawsuit will cost to defend in court. Use worst case scenarios, please, because that is how I need to look at it. And while you are at it, figure out how many hours of MY time would be spent conferring with attorneys and in the courtroom and put a reasonable figure on what my time would be worth to
me doing something I would rather not be spending it on.
When you come up with that figure, then divide that by $25 and tell me what you come up with.
Yes, I do have money set aside to fight a lawsuit, but how much will be enough? What happens if it ISN'T enough? Suppose the choice is then to default on the lawsuit because of lack of funds, or dig into my retirement savings to be able to keep on fighting?
Quite frankly, I have no intention of being placed in that position. If the income from this site cannot cover the potential expenses I may have to incur for my efforts of giving
you all the ability to post your experiences and opinions about someone else in their business dealings, then tell me, just WHY should I pay for it out of my own pocket when it becomes painfully obvious that it is not worth it to even a reasonably sized MINORITY of the members who use the BOI?
Would YOU do it?
And no, I hope to not get sued, and in some manner I can make a modest income off of this site instead of spending it with attorneys. This hope is no different from anyone else who hopes to make some compensation for their time, efforts, and expended funds to establish a business. I'm sure most people here are breeding animals with the hopes of selling the offspring, and hope to recoup some of their expenses, and in a best case scenario, even make a profit from their endeavors. Sorry if it shocks people to learn that I also have such hopes about my own endeavors.
So yes, I am looking at this from a practical viewpoint as being a business decision. If this site provides a positive cash flow for me in respect to realistic potential liabilities, then I have no problem whatsoever to keep on putting the time and effort (and expenses) into keeping it functioning for everyone to use. However, if that appears to not be the case, then the logical thing to do with any business is to determine where the liabilities lie that can negatively impact the financial viability of the enterprise, and if possible, remove it from the equation. And that is EXACTLY what I am doing here, right now.