Even that little fisherman can tell this deal stinks
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People seem to be missing the point about this issue so I want to make sure I am clear. I am not judging the long time manager of Joe’s Lobster Mart. He may be a great guy, and there is zero reason to believe that he will be guilty of Joe’s same sins.
That said, if you believe that Joe Vaudo is handing over his business, name, all of his equipment and infrastructure to this guy and he is only getting rent for the building in return then you are a certified moron. There is no chance that the deal between these two is only for a lease based on fair market value of the square footage of the building only.
Joe Vaudo was convicted of crimes. What he did undermined an industry that is sacred on this peninsula. His punishment was handed down and it was that his seafood business was supposed to cease to exist. That was the decided upon punishment, whether you agree with it or not. With this bullshit deal between these two he is not going to lose anything. NOTHING. Joe Vaudo circumvented the law in a blatant fashion and is going to continue to profit from the industry he fucked over when it was deemed that he should no longer have that right. Simple as that.
To re cap… I’m sure this manager guy is a nice person, he probably won’t buy stolen shellfish, but that doesn’t mean he’s not Joe’s puppet.
P.S. I am so sure of this that I challenge this new manager to do an interview with me and answer every single question 100% honestly. Then I want him to confirm his answers with P&L’s backed by tax returns that show that he is only leasing a building from Joe Vaudo and nothing else. There is zero chance that no other money will be switching hands here. ZERO
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Hippie, you're way off base here and let me explain why. The property upon which Joe's is situated belongs to the Army Corps of Engineers. Not Joe Vaudo. Joe operated the fish market pursuant to a lease that expires in Sept. 2015. That lease provides the Army Corp of Engineers with $120K+ per year. Now, the Corps could have opted to terminate the lease. But that could have led to further litigation, or a sustained period of time when there would be no one leasing the property (and thus no incoming revenue for the Corps). Transfer of the lease might be an option, but that might require obtaining various state and federal approvals. Have you ever had to deal with government agencies in a business transaction? I have, and it is a nightmare. Even the granting of a simple easement can take months. Plus, given the scrutiny that the transaction will be under from state and local regulators, do you think for one second that this deal will get approved if Joe is going to make a profit? Regulators hate the guy. And as far as the sublease goes, why do you think that Joe will be making some sort of profit? His name is on the lease and that's it. Where you see some sort of nefarious back-room dealing, I see the cleanest option for maintaining the Corps' revenue stream for the next 9-10 months until the lease is up.
Regarding the building itself, it's my understanding that Joe built it and would be required to return the property to its original state if he lost the lease (aka demolish it). This option allows the building to remain. At the end of the lease, who knows if it will be sold, altered or knocked down.
As for "all of his equipment and infrastructure", we aren't talking about a silicon valley tech company here. It's a fish market. You need water, ice, coolers, scales and crates. Have you even been inside Joe's before? Or seen the back area? It's not exactly a technological masterpiece.
And for the name remaining Joe's through at least the end of the year…if you were taking over a business that (formerly) had a well-known name, right around the holiday season, why wouldn't you keep it for the time being? Simple brand recognition. I don't know if Joe has any IP protection for the name of the business, so I won't speculate as to whether Scott will have to "purchase" the name if he wants to keep it, but I really don't see it as a big deal.
And finally, Scott Thayer and his wife Susan are great folks. In my opinion, this is the best possible outcome, having a local guy who knows the business keep running it. For you to assume that he will be acting as Joe's "puppet" is entirely speculative. If you want to talk to him, go down to Joe's.
Well said, Craig!!!
a well known name is a double edged sword, and if I was taking over a company forced to liquidate after being convicted of a crime and dragged through the ringer by the media, the VERY FIRST thing I would do would be change the name.
I get it, he's your friend. I'm sure he is a really nice guy. I'm sure he deserves a shot, but not this way. Next time you see him, ask him to look you in the eye and tell you that Joe is not profiting from this move. See what happens.
I do consider Scott a friend and I know you aren't trying to take potshots at him. That said, there are far more logical/legal/practical reasons, some of which I attempted to explain above, for the way this agreement is likely structured than Joe getting kickbacks. Joe doesn't deserve a dime from the continued operation of "The Artist Formerly Known as Joe's Lobster Mart" or whatever the future name might be. I just think it's a bit ridiculous to call the reopening of the fish market a "travesty of justice" without knowing any details about the transfer or having any knowledge of local/state permitting processes and regulatory oversight of the industry. Come September, when the lease expires, I expect that Joe will be cut out completely.
Craig Jordan with all due respect you don't know anything about the details either. You have your opinion and it is just as valid as mine, but that doesn't make it any more true. You are speculating just like I am. You are however in a position I'm not. Ask him if Joe is going to profit from this in any way. I would love to hear his answer.
If your been working around 40 years at a fish house buying and selling ,you know damn well whats going on ,you trying to say the new manager never bought any shell fish or swordfish As a former owner of Capt.Pauls Fish market in Falmouth ,and a comerical fisherman for 30 years ,I kinda know every trick in the book ,and have seen them all.
I can't help but laugh , he found a way to beat the system so be mad at that.how many cops do same thing or pollatitions for that matter there the biggest thief's of all.It all comes down to money an who you know get over it life's to short,if you don't like it don't buy seafood there it's that simple.
Instead of writing passive-aggressive article full of wild accusations, a good reporter does the research into the people that are the subjects of their articles. It is quite clear that you have failed to do so. You are making a fool of yourself. Seriously, just stop already.
I'm sure there's no conflict of interest here either.
http://www.cs.cornell.edu/gries/howbushoperates/haliburton.html
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