RickóGeorge didnít have 100 grand to buy the license. Even if he did, I doubt he would have made the deal. The fact Bob Shane never offered the deal to him indicates how dire the situation was for him and Bobbi.
It is easy for you, me, and others to question what went down. George, Bill, and Rick werenít going to play forever. If Josh had announced that GBR would be the trio for another year, would that have assuaged you? The KT mark probably is less than what they paid for it. We should let things play out. From my perspective, GBR were a KT superior musician-wise. They kicked ass compared to the Guard and Stewart trios but didnít have the emotional connection.
: I heard about the filing for bankruptcy a
: couple of months ago now. But I kept my
: mouth shut. But I knew this was a big part
: of B&B selling out for 100K. But regardless,
: my biggest issue with this whole thing, and
: I think I've been making it clear for
: months, is the treatment of GB&R. I'm sorry
: B&B had financial problems. It's sad to
: think that the last remaining member of what
: was once the worlds most famous
: group/band/trio had to file for bankruptcy.
: But it is what it is. Yes, George taking
: over the reins would have really been
: something. Something good! But it didn't or
: wasn't allowed to happen. And the striped
: shirted, one mic trio got to realize their
: little fantasy. But thanks for posting this
: Fred. Be interesting to see if it makes it's
: way over to Crossroads. I won't do it but
: let's see if someone does.
: --Previous Message--
: Iím a retired lawyer and have wondered if
: and Bobbi might have had a financial crisis
: that led to the $100,000 lease of the KT
: trademark. It took me 5 seconds last night
: to find out by typing into Google Bobís
: legal name: ďRobert Castle Shane.Ē
: I invite you to do the same. The result: A
: Chapter 13 federal bankruptcy petition filed
: June 15, 2016 by Bob and Bobbi in Az
: bankruptcy court. Chapter 13 allows debtors
: to pay off all the debts within 60 months.
: Unlike Chapter 7 and 11, which involve
: writing off some or all debt (in return
: having to sell assets), Chapter 13 is
: typically used to prevent foreclosure and
: that is what Bob and Bobbi have used it for.
: They agreed to pay the mortgage company
: $223,000 over 60 months. All the details are
: in a PDF on the docket page.
: The court approved the petition around the
: time of the 2016 KT camp, when Josh and Mike
: made the contract with B and B.
: So, this helps explain a motivation for B
: and B to sell the rights to the KT mark.
: Whom approached whom doesnít seem so
: important now.
: What happened last year that lead to
: lawsuits is still murky, though it appears B
: and B didnít adhere to the contract. Josh
: and Mike, having paid $100,000, were
: entitled to exercise their rights. The
: dismissal of the trio members was bungled. B
: and B should have given them notice months
: before the time they finally heard. B and B
: knew what Josh and Mike wanted to doóit
: doesnít make sense otherwise.
: From what I understand, Josh had hoped the
: changeover would be announced well before
: this yearís camp and that the camp would be
: a tribute to George, Bill, and Rick. You can
: snicker at that, but I have found Josh to be
: a very caring guy. You can disagree with
: Josh and Mikeís decisions but donít trash
: I understand your loyalty to G, B, and R. In
: cold-blooded business terms, they were
: independent contractors. They had no job
: security. They should have been given more
: notice. In light of Bob and Bobbiís
: financial distress, would you have preferred
: they decline the money and lose their home?
: The trio could have survived, but at what
: I have tried to be balanced. Iím sure some
: may disagree. I posted on Rickís board to
: hopefully contain any spleen that comes from
: this post.
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