Katy, TX gun store latest victim of Choke Point

I'll be interested to hear the Lawyer's take on the allegations made in the "facebook post" section of the article, especially that conflict of interest portion.
 
There is a THR thread, referencing other sources, suggesting that there is more to it. Perhaps those can be researched before starting our discussion?
 
I'm sure there is, but the link does claim to have reprinted the company's plea in it's entirety which includes some allegations of monopolism, and anti-trust issues that were interesting and left me wondering how accurately those terms were being used given our primer on what rights we have, and the layman's misunderstanding of this sort of thing.
 
As a business person, myself, these types of loans are quite common, and sometimes, they are called in. So long as they do not use discriminatory reasons, like race, for example, they can call in the loan for any reason.

Bad business and financial planning on the owner's part. I don't buy the conspiracy theories. Even if the conspiracy theories are true, if his business is that big, it's just bad business practices to position your business so that a single loan can sink your business.
 
This was the same shop that invited Piers Morgan to shoot on their range, no?

Alcede went on a tirade after the incident to complain he'd been misrepresented. What did he expect?
 
And another thing that irks me, reading about this guy and his company sign.

Why do gun owners politicize the 2nd amendment issue, as if all Omaba supporters/voters are anti2a.

I know plenty of 2a supporters who are Obama supporters, which is not an unusual position here in Texas. Bashing Obama, and assuming that a 2a supporter is of a certain political category, i.e., conservative, is just a good way of pushing half of the country into the gun control fold.
 
Okay, read it "from the horse's mouth." Tactical Firearms made a business decision to take a loan that contractually can be called in at any time (IIreadC). While common, it is a disadvantageous loan if the recipient isn't in a position to be able to cover the loan if called. Apparently, Tactical Firearms is not in such a position. Tactical Firearms claims to have not understood at the time of their last loan what the terms of the agreement were. That is just bad business. That is the type of mistake that can be fatal to businesses. NEVER SIGN A CONTRACT YOU DON'T UNDERSTAND.

Tactical Firearms made a business decision to go full bore and throw rocks at a hornet's nest with their political posturing without comprehension that some of the hornets were in a position to call in their loan. Bad Tactics

The loan has been called and now and Tactical Firearms is claiming it isn't fair and they want us to bail them out because apparently it is unfair to call in a loan for which the recipient willingly accepted the money but wants to claim ignorance the terms when the terms are no longer to their liking.

On top of all that, there is an apparent internal power struggle to seize the business because Tactical Firearms is a partnership. Partnerships can be very convoluted, especially when partners are not happy or are greedy.

The thread title should be, "Katy, TX gun store latest victim of Bad Business Decisions"
 
 
DNS:

Thanks for the rest of the story. The facts are very different from the story Jeremy Alcede put forth in his appeal.

Looks like Jeremy forgot to pay his property taxes too.
 
I wonder how much longer the "plea" will be posted on Tactical Firearms' website now that the company has been placed in receivership. :rolleyes: (It happened yesterday, 26 June, according to the 4th document posted by DNS.)

[EDIT] I wonder if Houston has any periodicals akin to the Dallas Observer or D Magazine... this ongoing soap opera has the makings of a cover story for a journal like this. :)
 
From KHOU Houston:

The bank won’t talk specifics, but said it’s made the business long term loan offers that the gun shop just hasn’t pulled the trigger on. It released this statement to KHOU 11 News:

Due to banking privacy mandates, we are not permitted to share full details of the Tactical Firearms loan, but we can say our decision was made because the Tactical Firearms loan is in default. We have been actively working with the business owners of Tactical Firearms for over a year now by granting them several short term loan extensions and offering them several long term financing options, none of which have been accepted by them.
Click to expand...


http://www.khou.com/news/Katy-gun-store-facing-foreclosure-struggles-to-stay-open-264517091.html
 
Double Naught Spy said:
Wow, so the bank says they are in default. That too is a very different story. Interesting. He [Mr. Alcede?] originally claimed that they were not.
Click to expand...
I noticed that too.

Another interesting thing... the "plea" (tirade?) on the website is attributed to "The Tactical Firearms Family" rather than a specific author; we don't know who wrote it. I assume Mr. Alcede did, but I can't be certain. However, given the venom directed at Mark Evans, I'm not surprised that the author chose to remain anonymous. :rolleyes:

For future reference, let me quote from the TF website, in case it gets taken down soon... :)
The Tactical Firearms Family said:
[The loan was not called in] because of no payment, as we have never been late or missed a payment, but because the board of directors has chosen to not renew the loan. Deciding to call a loan which has a perfect payment record and is profitable to the bank is almost unheard of in the banking industry.
Click to expand...
Given that the "Order Appointing Receiver" (doc #4) specifically says that TF "defaulted on three commercial loans from ICON Bank" while under Mr. Alcede's management, and Mr. Alcede's legal counsel presumably could have refuted this accusation if it wasn't true, we can conclude that the statement on the website is either a boldfaced lie or the work of someone who's woefully misinformed about the facts. My hunch is that it's the former. :rolleyes:
The Tactical Firearms Family said:
At the same time, the bank’s excuse to us for calling in the loan is because the “government does not support loans to the gun, alcohol, or hotel industries”...
Click to expand...
Same here. :rolleyes:
 
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If there is going to be a bankruptcy, any chance we can get a liquidation sale/auction? Hopefully they have some of those machine guns that were on the CNN PM show.

I'm there.
 
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