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re: Garnet and Black Traditions?
Posted on 5/23/19 at 7:13 am to I Bleed Garnet
Posted on 5/23/19 at 7:13 am to I Bleed Garnet
quote:
Anyone actually go to jewelry warehouses?
I did the few times I've bought jewelry. I was always treated well.
Posted on 5/23/19 at 7:17 am to GetCocky11
I pulled this from the Columbia Closings website (fun little website this guy runs that details all the various business closings that happen in Columbia.
LINK
LINK
quote:
The owner, Scott Satterfield posted this on Facebook about what happened (long post):
I know this is long, but it is what I want people to know.
My brother is awesome and has helped me a ton - he said to shorten, and
he’s probably right. I believe people that know me though, may want the
full story so here it is....
Friends and family,
What a lousy couple of days! If I’m being honest, what a lousy six years.
It is with great sadness I am writing this.
Satterfield’s Jewelry Warehouse is being liquidated as the bank has
called our loan and foreclosure began immediately. Unfortunately, the
Department of Revenue has taken notice and revoked our business license
just as the sale was about to begin. Lawyers are involved and those that
foreclosed are trying to complete a liquidation.
Bear with me
while I open up to give you all the true story and not bits and pieces
of the truth surrounded by a lot of misinformation. This situation has
certainly humbled me and I feel like everyone deserves an explanation on
how we got here.
When our two new locations were built with the
help of a bank loan in 2013, things looked very promising.
Unfortunately, less than 8 months after the loan was issued, and as a
result of the housing crash and the ripple effect that it caused, the
inventory which was used to provide the loan (collateral) was
“re-evaluated” and it was cut almost in half. The new evaluation
resulted in a paper default, and that was the beginning of 6 years of
struggle. The bank dictated what we could and couldn’t do for a period
of time resulting in a significant amount of debt to taxes and vendors.
(They were interested in us paying off their lien first, of course,
which they owned)
During the same time in July of 2013 my wife
was diagnosed with stage 4 breast cancer, and from that point on, my
focus was far more on taking care of her. While our relationship with
each other and God flourished, the business certainly took a bit of a
back seat. My only regret here is she had to spend her last days
worrying about money. Ultimately, she passed away October 3, 2016.
Truth is I thought I was spreading my efforts appropriately to take
care of both, working early and late while she slept and tending to her
as needed. But with doctor appointments and hospital stays, it is now
apparent I had not seen many key warning signals. It was only after her
death that I fully realized how many things went unseen and uncorrected.
The bank loan was ultimately purchased by another company and the lien
with it, but the financial damage had been done. It created a vicious
cycle of needing to make sales but not having the money to buy the
merchandise. The hole just kept getting deeper and deeper. Selection
suffered and so did sales. From predatory loans, scams, liens, levies,
and (now) licenses revoked, we’ve done it all and we cannot do it
anymore. I’m tired and the only thing that has kept me going is my faith
and the staff.
The staff at our stores has been awesome. They
could have left at any time but they stayed during the illness and
continued through the financial struggles. I am so thankful for each and
every one of them – I feel truly blessed to have them as a part of our
company. Because of their loyalty I promised to work and fight to keep
things going and to flip things over time. They did not quit on me and I
was not going to quit on them and I vowed I would only stop if an
outside source closed us down. Sadly, that has happened but not because
of lack of effort. I tried in every way I could.
I have a house
that has two mortgages, my wife’s life insurance went 100% into the
business and I drive a 7 year old Prius. I took no salary during much of
this time - no off shore bank account or mansion somewhere – this is
all I have. I have told everyone that ever treated me like we had money
that we did not but sometimes people believe what they think and not
reality. I have not nor will I ever try to impress – I will live to
glorify God and no one else.
Speaking of God, that is really why I
am writing this. Apparently, some people use my circumstance to bash
Christianity. God is in control and when things go wrong, I will lean on
him for guidance and direction. The valleys lead to the mountaintops
but we were never promised no struggles. Being a Christian doesn’t mean
my bank account will be full – but God loves me and that is enough…
The first lien holder has foreclosed on their lien, and that is where
things now stand. Nothing hidden and nothing directed or coordinated by
me –But apparently the Sales Tax officials think otherwise, but they are
wrong and in time they will see this is true.
Sometimes things
don’t work out and there is no criminal design (people who own
businesses can attest to this I believe). Some people like to try to
create a story when the truth is, I failed. I failed my staff, my
vendors, the sales tax authority, and my family. That is something I
must live with.
Thank you for being a part of our family - We appreciate your love and support.
I may be knocked down today, but with God’s help, I am going to try to
get up and continue my story. Hoping many good things will be ahead
Posted on 5/23/19 at 7:51 am to GetCocky11
So just like I said they failed to adjust to online sales and he didn't pay his bills. He should have closed a couple of stores and concentrated on the online sales but failed to adjust. He also failed to curtail his lifestyle. I had a family member that was a manager at one of the stores and saw this coming. Sad to see something that his parents build up destroyed in just a short time.
Posted on 5/23/19 at 7:57 am to SOSFAN
quote:
He should have closed a couple of stores and concentrated on the online sales
They got fancy with their stores when they moved from St. Andrews to the high-cost Harbison area and then they opened that nice store in Lexington. Just felt unnecessary.
Meanwhile, a jewelry store like Sylvans has been going with 1 location on Main Street since 1897.
Posted on 5/23/19 at 8:04 am to GetCocky11
quote:
During the same time in July of 2013 my wife was diagnosed with stage 4 breast cancer, and from that point on, my focus was far more on taking care of her. While our relationship with each other and God flourished, the business certainly took a bit of a back seat. My only regret here is she had to spend her last days worrying about money. Ultimately, she passed away October 3, 2016.
You can't fault the man for this.
Posted on 5/23/19 at 12:21 pm to Lonnie Utah
So its ok with you that he ignored his responsibility to the dozens of employees and his responsibility to pay vendors and taxes? SMH!
He should have stepped aside and had someone else run the company if he had lost his ability to focus.
He should have stepped aside and had someone else run the company if he had lost his ability to focus.
Posted on 5/23/19 at 12:37 pm to SOSFAN
quote:
So its ok with you that he ignored his responsibility to the dozens of employees and his responsibility to pay vendors and taxes? SMH!
He should have stepped aside and had someone else run the company if he had lost his ability to focus.
Upvote
Posted on 5/23/19 at 12:58 pm to I Bleed Garnet
Yikes. I hate seeing local businesses go under but this dude just sounds like either a crook hiding behind religion, he’s terrible at business and hiring accountants, or all of the above.
It’s a shame. I really enjoyed buying from them.
It’s a shame. I really enjoyed buying from them.
Posted on 5/23/19 at 1:03 pm to TnMountaineer
Yea I don’t feel like any of that personal stuff was necessary.
Posted on 5/23/19 at 1:43 pm to I Bleed Garnet
Scott satterfield is a spoiled brat that had no business being in charge and refused to change his lifestyle. He reaped what he sowed.
Posted on 5/23/19 at 4:12 pm to SOSFAN
Scot Satterfield did absolutely nothing wrong because Cancer and Jesus.
Posted on 5/23/19 at 4:18 pm to SOSFAN
quote:
Scott satterfield
I know nothing of the man.
But I can forgive someone that took a leave of their normal duties to take care of a sick spouse.
If folks have other opinions/ideas, that's what makes America great....
Posted on 5/23/19 at 5:22 pm to Lonnie Utah
quote:
If folks have other opinions/ideas, that's what makes America great...
False, my opinions are what make America great.
Posted on 5/24/19 at 7:49 am to Lonnie Utah
Thats great that you can forgive someone that totally ignored his responsibility to dozens of employees WHO HAVE FAMILYS. Guess they don't matter. The guy used fake religion and worse he used his wifes illness and death to gain sympathy so no one would question his fraudulent use of the company's finances.
Cry me a freaking river.
My aunt died of cancer but yet my uncle not only grew his dentistry but is now one of the most well known denist in America and he did it all to honor my aunt, my cousins, and his employees who he treated like family.
Lonnie re-read your 1st sentence. " you know nothing of the man" yet you give him full support. Smh
Cry me a freaking river.
My aunt died of cancer but yet my uncle not only grew his dentistry but is now one of the most well known denist in America and he did it all to honor my aunt, my cousins, and his employees who he treated like family.
Lonnie re-read your 1st sentence. " you know nothing of the man" yet you give him full support. Smh
This post was edited on 5/24/19 at 7:52 am
Posted on 5/24/19 at 8:50 am to SOSFAN
quote:
most well known denist in America
Was your uncle by chance Doc Holliday.
Posted on 5/24/19 at 10:07 am to SOSFAN
Upvote upvote upvote
I agree
He fricked up and tried to bring a family issue to get sympathy
Business needs to keep moving, and it didn’t.
Very unprofessional of him
I agree
He fricked up and tried to bring a family issue to get sympathy
Business needs to keep moving, and it didn’t.
Very unprofessional of him
This post was edited on 5/24/19 at 10:08 am
Posted on 5/24/19 at 10:55 am to SECUSC4
Doc Holiday had Tuberculosis. Can you imagine that? A dentist with Tuberculosis?
Open your mouth wide for the dentist as he breaths down inside you.
Open your mouth wide for the dentist as he breaths down inside you.
Posted on 5/24/19 at 11:21 am to SOSFAN
First off SOS, sorry about your Aunt. I hate cancer as much as I hate the taters....
What I was saying SOS, is with out know any other details, my first instinct is to forgive. I'm not condoning or condemning him and his action. I simply stating I can understand the choice to put his wife and family first. But I'm a softie by nature.
The guy ran a business. His employees were free to work there or not. They were not indentured servants. It's unfortunate others got hurt. Nobody every want to see that. But the free market is what it is.
On the flip side, I never like to see hypocritical behavior, and it sound like it applies in this situation. I appreciate you providing that side of the story.
quote:
Lonnie re-read your 1st sentence. " you know nothing of the man" yet you give him full support. Smh
What I was saying SOS, is with out know any other details, my first instinct is to forgive. I'm not condoning or condemning him and his action. I simply stating I can understand the choice to put his wife and family first. But I'm a softie by nature.
The guy ran a business. His employees were free to work there or not. They were not indentured servants. It's unfortunate others got hurt. Nobody every want to see that. But the free market is what it is.
On the flip side, I never like to see hypocritical behavior, and it sound like it applies in this situation. I appreciate you providing that side of the story.
Posted on 5/24/19 at 12:39 pm to Lonnie Utah
I understand what you're saying but your paragraph about the employees makes my blood boil. They had employees dedicated for decades. Employees, whos familys, were invested in the success of this company and your damn answer is " hey you can go find something else ". The company didn't even give notice.
So your compassion is only for the owner but the hell with the other familys. If you go to church it's not working!
Youre acting just like a tator
So your compassion is only for the owner but the hell with the other familys. If you go to church it's not working!
Youre acting just like a tator
This post was edited on 5/24/19 at 12:43 pm
Posted on 5/24/19 at 12:48 pm to SOSFAN
quote:
I understand what you're saying but your paragraph about the employees makes my blood boil. They had employees dedicated for decades. Employees, whos familys, were invested in the success of this company and your damn answer is " hey you can go find something else ". The company didn't even give notice.
So your compassion is only for the owner but the hell with the other familys. If you go to church it's not working!
I feel equally for both. Because I have compassion for someone that loses their wife, that doesn't mean I can't also feel for those caught in the fallout of the owners bad behavior/decisions. It's a crappy situation for all.
It's obvious that you know a lot more about the situation that I do, so I respect your opinions and insight. I guess my reaction is what it is because I know/can relate to the devastation I'd feel if something happened to my spouse.
This post was edited on 5/24/19 at 12:51 pm
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