Home > Erik's Blog > March 26, 2010 - A Concerned Entrepreneur

March 26, 2010 - A Concerned Entrepreneur

Yesterday I received a disturbing letter from an attorney in Chicago.  The letter was notification that I received preferential payments (they paid me what they owed me) from a builder that filed bankruptcy in 2008; not a small amount either ($65K)…  It says the payments were received prior to the filing so I’m not sure how that is considered preferential but I guess that’s another few bucks to the attorneys to figure out.  The letter also states that I have to pay this back by April 8, 2010 or face a law suit that will result in significant legal fees!  Great…  In the past 3 years, I have had many builders file bankruptcy.  These builders owed us significant amounts of money that we are not able to collect on; well over $300K in aggregate. 

My wife and I started this company in 1990 with $500.00, the willingness to work hard, and a positive attitude.  In 15 years, we built it up to a company of 200 employees, 120 trucks, and revenue of well over $100 million dollars over the span.  We accomplished the American dream because we worked hard for it.  I have serious concerns as to whether or not that is attainable for a small business owner any more. 

I am not one to really get too opinionated on politics, but I have to say, as a country, we have definitely been heading in the wrong direction over the past 10 years.  I don’t know exactly whose fault it is and I am not a Democrat, or a Republican, I’m an American.  But I do think the whole system needs a serious overhaul.  Death threats?  Bricks through windows?  Name calling and racial slurs?  What are we, The Sunni’s and the Shiites?  What’s next?  Personally, I think all of the politicians are out of touch with the American people and the constitution has a remedy for that. 

In the past 5 years, our company has gone from 200 employees to 39.  My wife and I have no salary, and we don’t pay ourselves rent because we can’t afford to.  We have done the responsible things over the years and have paid off debt and have provided excellent benefits for our employees.  Unfortunately, now we have to go in the other direction through no fault of our own.

It seems as though the ambitious are being punished in this country; and what happened to honor and integrity in business?  It is there, but it is rare.  Those that have the integrity know it, those that don’t; well I’m pretty sure they know it too.  Most everything we do anymore is through a one sided contract that passes down all the risk.  Now, the suppliers, knowing that there is a serious lack of integrity in the business world, are requiring personal guarantees to circumvent any corporate protection for the business owner. 

The system is broke and we as a country are going downhill fast!  I’m sure some will read this and roll their eyes and tell me to quit whining…  It is what it is so deal with it…  But as I get older, I become more confident that my opinion is worthy.  I have 20 years in business in this country, have completed plumbing systems in more than 50,000 homes, and I have a High School education.  We (my wife and I) took advantage of an opportunity that our society allowed us to take and we were fortunate enough to hook up with some great people as employees, but things have most definitely changed for the worst and I am concerned for this country. 

-  Erik the plumber

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The Pampering Plumber
10720 SR 54 Suite 101
Trinity, Florida 34655
727 232 8400