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The ex-CEO at my wife's previous company did this. Signed a multi-year lease for the company on a building she owned a few months before leaving the company. A
by cluoma 8y ago
The ex-CEO at my wife's previous company did this. Signed a multi-year lease for the company on a building she owned a few months before leaving the company.
A real dick move for sure. They were growing at the time and being constrained to such a tiny space for so long was quite rough for them.
- dsr_ 8y agoNormally a multi-year commercial lease comes with the right to sublet. Did the company fail to negotiate that?
- catawbasam 8y agoIf the ceo was self dealing, she might have 'forgotten'.
- ceejayoz 8y agoPlus, if she gave herself a sweetheart deal on rent, there might not be any sublessor interested in making the inflated payments.
- Firadeoclus 8y agoIf the company can't get out of the deal then that rent is a sunk cost. It might still be better for them to sublet at market rent and find a larger property for themselves.
- technofiend 8y agoMy wife's church sold a multi-million dollar parcel to the museum across the street because one of the church members is a real estate agent and made a commission. This not only denied the church any revenue from making the parking lot a parking garage as the museum did but prevented them from doing anything else with the land in case of expansion or simply a future sale if they move. Talk about stepping over dollars to pick up pennies.
- WrtCdEvrydy 8y agoThere's been a couple of studies that confirm people will sell out their employers for as little as an extra $500.
- vorpalhex 8y agoI suspect most employers will sell out their employees for about the same amount or a bit less.