Our business broker (Marty) called and told me that the partners of the company we talked to last week didn't think they were going to make an offer. I told him that was okay, I didn't want one. I'm told I'm normally overly polite with customers and companies that we partner with, often sending them cards, notes, or emails of "thanks", but in this case I didn't even bother.
Jack, Marty, and I met with the two owners of this firm this afternoon, spending nearly three hours in one of their offices. This seemed a little awkward; after working with their employees for several days I would have preferred to meet offsite somewhere, but they assured me they would just tell their employees we were discussing other ways of working together.
The situation for the client of our potential business buyer has been stabilized, and everything should be at 100% in the next 48 hours (Saturday or Sunday). They've handcuffed me by not letting me work at the client location, and I've had to do everything remotely, so I've never met anyone at the client location, but from what I've heard on conference calls, the client seems much happier than they were two days ago.
Things have moved fast with this new potential business buyer, though not at all in a way that I expected. It turns out that they've tried to do some work in our part of the computer industry, which is a little different and more specialized than what they normally do, and they've gotten themselves into a bad situation.
Nothing interesting happened with our business broker's first 90-day extension. We did the usual part of sending information back and forth, but didn't have any meetings with the prospective buyers. However, with that extension expiring, Marty tells me he has another very promising lead. He won't give me the name of these people, but he does seem more excited than I've ever seen him, so after a brief discussion with the other partners, we're going to give him another ninety day extension.
These are the diary entries for my book, How I Sold My Business: A Personal Diary, for March, 2005.
Four months have passed since we signed the agreement with our business broker (Marty), and nothing else has happened related to selling the business. I’ve talked to Marty a few times when he said he had some queries, but we haven’t met with anyone else, well, not until today. Marty asked if we wanted to talk to some potential buyers who were a real long shot, and I said sure, why not. That led to this morning’s meeting, which was one of the weirdest business encounters I can recall.
Dateline: March, 2010.
Not one of my better times. On the drive from the Lower 48 back to Alaska, I got stranded in Canada. The reports said the roads were clear, so I was hoping to make it through with my old tires, but “clear” has a different meaning in the winter in Canada than it has in the Lower 48. “Snow-packed with occasional ice” was a more apt description. My tires weren’t up to the task, and not wanting to die, I was forced to stop in Dease Lake, British Columbia, population 303, one motel, one gas station, one mechanic.
A Facebook post from March 22, 2010, when I was stranded in a small town in Canada:
How neat, the “Court Circuit” comes to town tonight. Just like the Northern Exposure episode, the court people travel around and temporarily set up court in various towns. They are expected to be here from tonight until Thursday. My chance to meet many police officers! (RCMPs, I wonder?)
I lived in Palmer, Alaska for too short a period of time, and on my daily walks I would often go past this statue of Balto in the downtown area. Someone was kind enough to put a hat on him to keep him warm.