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 03-15-2001, 09:02 Post: 25538
Murf



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Join Date: Dec 1999
Location: Toronto Area, Ontario, Canada
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 Almost The End of the Road Bonds and the Dangers of Non-Returnables

Ted, I can sympathize whole-heartedly, I too have had my share of grey-hair producing jobs. Probably most notable was the golf course owner, unknown to me, borrowed against MY equipment to obtain operating capital to finish the construction. It seems there is no 'register' for recording the ownership of such unlicensed equipment. He merely told his lender that he had PURCHASED it all from me, the lender registered liens against it to protect his 'loan'. When I found out the lender refused to release his security interest and further told me that I could not remove the equipment from that site. Luckily the nightwatchman was hired by the contractors on the job. It seems that he got sick in the middle of his shift one clear night and somebody took all the equipment away..... A police report and dealer records quickly convinced the lender and owner to work out an 'arrangement'. But, I have also had disgruntled customers merely refuse access to the site in order to green-mail a better price after a job was finished. Ted, your words should burn in the ears of all 'serious amateurs' who would like to make a little money with their equipment. Best of luck.






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