The Soapbox

Maupin233

Joined: 09/16/2008 Posts: 2946
Likes: 4790


He doesn't make his money on salary, he makes it selling his equity back to


the project in exchange for vacating the managing role, even as they retain his name for promotional purposes. Essentially, he's so terrible at managing these projects, other investors are willing to buy him out just to get him out of the way so they can properly restructure debt and possibly salvage something in the end. In many cases, the creditors actually demanded buying him out as a necessity for accepting restructuring.

(In response to this post by CAVern)

Posted: 08/11/2020 at 12:55PM



+3

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