Friday, January 15, 2016

Another twist in the Great NABC Non-Buyout Saga 2016.

Today was a landmark of sorts in the history of the New Albanian Brewing Company. It's the last time I'll mention it, at least for a while. I've always tried to be transparent in these matters, and see no reason to stop at this late date.

Prior to February 26, 2015, when I took a leave of absence from my daily tasks in order to campaign for mayor, my professional existence took three forms, as applicable to each of two separate incorporations: The original 1994 New Albanian Brewing Co., Inc., known to you as NABC Pizzeria & Public House, and the 2008 New Albanian Bank Street Brewery, Inc., or Bank Street Brewhouse.

A simple way to look at it:

Worker x 2
Director/Officer x 2
1/3 Owner/Shareholder x 2 

Last summer, I announced my intent to sell my shares in both businesses to my two business partners, in the hope that negotiations with them in good faith prior to activating the provisions of our buy/sell agreement might keep a few dollars out of the hands of attorneys.

Unfortunately, these negotiations have not amounted to much, and in order to protect my interests, I have not yet initiated the timetable according to the mechanism specified in the buy/sell. This means that I remain 1/3 owner/shareholder in both businesses. In short, I continue to enjoy the all risks of ownership without any commensurate rewards.

Obviously, my intent was to sell, and my desire remains to sell, but when it became evident that the verb "to sell" means different things to different people, I decided to return to work -- and was outvoted, 2 to 1.

Worker x 2

Today, at the annual shareholder meetings of both entities, I was removed as director/officer by the same 2 to 1 tally.

Director/Officer x 2

I believe this goes a long way toward explaining the many questions asked of me since last year, and now it can be seen that if the ax was destined to fall, anyway, why not try to have some say into the process, and to retain whatever leverage might yet help to achieve a settlement?

So, as an update since my most recent update, my professional existence now looks like this:

1/3 (Silent) Owner/Shareholder x 2 

Do I remain an owner?


Am I involved in any way with business decisions?


Am I being paid or remunerated?

Not at all, since the leave of absence began. 

Do I consider myself to be a free agent?

Yes. My shooting range is a bit diminished, but I'm a bastard on the boards.

To reiterate: If you have questions or comments pertaining to NABC, I’ll do my best to direct them to someone who can help you. None of this should be construed as judging the commitment of the folks on the shop floor; I have the utmost confidence in the abilities of NABC's employees and staff, and I am happy to assist them if they need help on or off the record.

This is an ownership thang, pure and simple. It'll play out, one way or another. It's been a quarter-century of good vibes, and I intend to keep it that way. I never was very good at punitive, anyway. Cheers to all, and to all a good night.

Now, if you'll excuse me, I have a wake to attend.

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