Grocer, 70, gives stores to his employees — for free, transferring ownership as a thank you

[jtuck004]

24. That is an assumption. There is no value until the loans are paid off.

And their pensions or 401K's are very likely to be collateral, and very, very likely to be underfunded, and thus another liability.

How about an analogy?

"Hey mom, I am giving you my house that I can't sell. I took out a new mortgage and took all the cash, but I am GIVING you the home, and the mortgage for you to pay. You should be able to sell it for a profit in a few years. Because they never go down, the Bernanke said so. Regardless, I got money, and it's gonna be a GREAT Christmas".

From a financial perspective he gave an asset, attached to several liabilities, got paid, and it may or may not work out for them. He and his family walk away with a few million, but it will be years before most of the employees know whether they get anything but a paycheck from this, except for, perhaps, a few that retire earlier.

And despite what was said, there is nothing out there that indicates there was ever any offer for the business from anyone else, which is very likely in such a competitive and likely to fail arena. So he and the family took the out that would give them some serious cash, and left whatever happens in the future with others.

You can drive down the street in just the town I am in and I can show you four major groceries sitting empty, all different names, all with more resources than this gentleman had, all failed. And they are all over the country, just takes a little web searching.

Again, not dissing the deal, but people are leaving out a bunch of really important reality to fluff up a story. And that's bullshit.

But nothing new. People see saints in the impressions in their taco sauce, so it doesn't surprise me that people make up their own reality about this deal either. Hey, 47% voted for RobMe - if that doesn't support a theory of mass delusion, I don't know what does.