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Old 07-30-2012, 12:30 PM   #171
Blair Robert Lowe
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Re: Stop Anthos from Taking over CrossFit

I don't have too much stake in CF but I have a handful of friends that do.

I'm thinking that even if she signs papers, there will be court battles and what not before the dust settles. It won't be any picnic, regardless.

Eesh.
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Old 07-30-2012, 12:39 PM   #172
Jeff Reising
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Re: Stop Anthos from Taking over CrossFit

Quote:
Originally Posted by Devin Elliot View Post
Great point.
Devin,

It's not a great point. There is something called the business judgment rule. A judge will not tell Greg Glassman how to operate his business. (Forced dissolution by an equal partner is another story). I'm afraid I am a lawyer with some background in corporate law. Don't believe anything you read in these posts. It is 95% uniformed speculation based on ignorance of the law and the particular facts of this case. Entertaining nonetheless, though.
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Old 07-30-2012, 12:53 PM   #173
Russell Greene
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Re: Stop Anthos from Taking over CrossFit

Quote:
Originally Posted by Blair Robert Lowe View Post
I don't have too much stake in CF but I have a handful of friends that do.

I'm thinking that even if she signs papers, there will be court battles and what not before the dust settles. It won't be any picnic, regardless.

Eesh.
Blair,

You're right, this will not be a picnic. The Anthos takeover can't go through without court approval. It is not at all a done deal.
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Old 07-30-2012, 12:59 PM   #174
Thomas Davenport
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Re: Stop Anthos from Taking over CrossFit

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Originally Posted by Jeff Reising View Post
A judge will not tell Greg Glassman how to operate his business. (Forced dissolution by an equal partner is another story).
This ^^. Particularly the parenthetical.
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Old 07-30-2012, 01:05 PM   #175
Jeff Reising
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Re: Stop Anthos from Taking over CrossFit

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Originally Posted by Thomas Davenport View Post
This ^^. Particularly the parenthetical.
Thomas,

what does ^^ mean?

Thanks,
Jeff
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Old 07-30-2012, 01:28 PM   #176
Chuck Charbeneau
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Re: Stop Anthos from Taking over CrossFit

Quote:
Originally Posted by Jeff Reising View Post
what does ^^ mean?
the "^^" are arrows pointing to what's above, in this case, it is an affirmation and approval of the quote (specifically, the parenthetical).
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Old 07-30-2012, 01:28 PM   #177
Nathan Holmes
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Re: Stop Anthos from Taking over CrossFit

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Originally Posted by Jeff Reising View Post
It is 95% uniformed speculation based on ignorance of the law and the particular facts of this case. Entertaining nonetheless, though.
The uniforms certainly make it more entertaining. I especially like the tassels.
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Old 07-30-2012, 01:52 PM   #178
Chris Sinagoga
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Re: Stop Anthos from Taking over CrossFit

More great words from Coach Glassman.

http://journal.crossfit.com/2012/07/...ews-part-2.tpl
(work/family safe except for one f-bomb)
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Old 07-30-2012, 01:55 PM   #179
Craig Massey
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Re: Stop Anthos from Taking over CrossFit

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Originally Posted by Nathan Holmes View Post
The uniforms certainly make it more entertaining. I especially like the tassels.


Mickey, Minnie, Donald, Goofy (added because I need to have at least 6 characters in this message and the smiley is only 2).
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Old 07-30-2012, 01:55 PM   #180
Katherine Derbyshire
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Re: Stop Anthos from Taking over CrossFit

It's very difficult to keep an owner who wants out from selling their share to whoever they like, absent a pre-existing buyout agreement. And it's naive to think that a 50% owner won't want a say in how the business is run. So the names may change, but the underlying issue isn't going to go away.

On the other hand, the idea that a new part owner would immediately run roughshod over the existing business structure is also exaggerated. They won't have the votes to drive out a 50% owner, and picking a fight with a key individual who they can't remove is bad for the business as a whole. (Same with forcing a dissolution.)

If I had to guess, I would say that what we're seeing is a very public negotiation over the terms of the Glassman asset division. The Anthos Capital offer represents a bid that the other side is unwilling or unable to match, and so they are seeking to undermine the proposed sale through other means.

Katherine
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