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Started By
Message
re: After closure, Bogie's bar files for bankruptcy, owes landlord $90K
Posted on 7/8/19 at 4:55 pm to TheCaterpillar
Posted on 7/8/19 at 4:55 pm to TheCaterpillar
Chelsea’s was a different matter.
Having the head of ATC being an a-hole with a personal vendetta against your family is a problem.
People talk about how Murphy Painter shouldn’t have been fired by Jindal but he pulled all kinds of shite that should have seen him behind bars.
Having the head of ATC being an a-hole with a personal vendetta against your family is a problem.
People talk about how Murphy Painter shouldn’t have been fired by Jindal but he pulled all kinds of shite that should have seen him behind bars.
2
Posted on 7/8/19 at 4:56 pm to teke184
quote:
Chelsea’s was a different matter.
Having the head of ATC being an a-hole with a personal vendetta against your family is a problem.
People talk about how Murphy Painter shouldn’t have been fired by Jindal but he pulled all kinds of shite that should have seen him behind bars.
Yeah, that story is such fricking bullshite.
Chelsea's guy just said frick it and walked. Really sucked for the neighborhood.
Posted on 7/8/19 at 4:56 pm to GreatLakesTiger24
I have a theory on why Fred’s has always been able to do so well...
I have notice that they do a really good job of hiring popular people to work the doors and be bouncers. These people in turn bring their like minded friends
I have notice that they do a really good job of hiring popular people to work the doors and be bouncers. These people in turn bring their like minded friends
Posted on 7/8/19 at 4:57 pm to jimbeam
quote:
That’s because Fred’s is the best college bar in BR.
In my day Fred's was the place to go if you wanted to get shanked by a roided out 25 year old.
Posted on 7/8/19 at 4:59 pm to GreatLakesTiger24
quote:
Deep state conspiracy theory: LSU Greek life is behind all of this and trying to shut down or isolate fraternity drinking.
Stay woke bro
Posted on 7/8/19 at 4:59 pm to RabidTiger
Fred’s crowds could get weird. Sometimes it’d be a lot of people who are way too old to be there, sometimes it’d be a lot of minorities, then it would be frat/srat
Posted on 7/8/19 at 5:01 pm to magildachunks
quote:
Sure, but the audit can't cover how many people paid cover each night in cash. They don't track it at all. The drinks and tabs, I'm betting he reports probably 100% of. The door charges are another story.
As a CPA, I can tell you the IRS uses statistical analysis in situations like this. They track expenses(liqour inventory) versus liquor sold and door charges income. They also do this with other same type establishments to predict what cash income should be reported. If things don't jibe then their super computers flag the bar and an auditor shows up.
Posted on 7/8/19 at 5:01 pm to The Hurricane
quote:
They are a machine that washes money.
Fixed.
*Nothing specific to Fred’s but these type of establishments are great for cleaning up money.
Posted on 7/8/19 at 5:02 pm to deathvalleyfreak43
quote:
I have a theory on why Fred’s has always been able to do so well...
I have notice that they do a really good job of hiring popular people to work the doors and be bouncers. These people in turn bring their like minded friends
Hiring "social influencers" to work is a college bar trick as old as the bars themselves. I don't mean instagram hoes, but just popular guys from big fraternities and hot chicks that can work a room.
Bars in Oxford wouldn't care if bartenders would give their close handful of friends free cheap drinks because those friends would bring larger crowds of friends that wouldn't get free drinks.
I'm sure they now do it through social media platforms too.
Posted on 7/8/19 at 5:03 pm to teke184
quote:
People talk about how Murphy Painter shouldn’t have been fired by Jindal but he pulled all kinds of shite that should have seen him behind bars
That mfer better not become the next AP Parish President. I recall very well what he did to Chelseas.
Posted on 7/8/19 at 5:04 pm to GreatLakesTiger24
Fred’s scooped up this guy’s business and he probably was too dumb to save when things were going well. You don’t get $90k in the hole just because you aren’t reporting cash
Posted on 7/8/19 at 5:05 pm to mikelbr
back to people saying they dont report all the door money.. thats fine and all. but you'd be lying to yourself if you dont think they can do analysis for the amount of money paid at the door vs amount of money spent inside...
if the amount ends up being like $300 per person... well you are going to have a problem
if the amount ends up being like $300 per person... well you are going to have a problem
Posted on 7/8/19 at 5:05 pm to NIH
quote:
Fred’s scooped up this guy’s business and he probably was too dumb to save when things were going well. You don’t get $90k in the hole just because you aren’t reporting cash
I'm betting he was under reporting for a long time, then when the business actually started to not do as well he couldn't make his rent/tax payment and had spent all of his cash.
Leaving him fricked.
Posted on 7/8/19 at 5:06 pm to NIH
quote:
You don’t get $90k in the hole just because you aren’t reporting cash
Not reporting cash should help get you out of a hole since you are keeping more of your money
Posted on 7/8/19 at 5:06 pm to TheCaterpillar
quote:
On game weekends they'll have $40-60 cover and it hits capacity by dark. So a 3,000 person place (its huge) is one-in-one-out for 5 hours 3 nights in a row every home game for football season.
NO this is not true
Posted on 7/8/19 at 5:07 pm to SoFunnyItsNot
quote:
back to people saying they dont report all the door money.. thats fine and all. but you'd be lying to yourself if you dont think they can do analysis for the amount of money paid at the door vs amount of money spent inside...
if the amount ends up being like $300 per person... well you are going to have a problem
Well, The Library just arbitrarily changes cover charge throughout the night.
So they could easily say it was $20 the entire night when in reality it ballooned to $40 or $60.
So they aren't lying about how many people are showing up, just about how much they paid to get in.
Posted on 7/8/19 at 5:07 pm to teke184
quote:
With the bar that much in arrears, I’m surprised their liquor license didn’t get pulled.
That's probably one or two months of sales tax right? Not much more than that really. If they are doing $500k a month in sales, which would be $30k a night for 10 nights for the weekends and then $15k for slow nights.
ETA: I can see how this would spiral out of control with a quickness. What was his monthly rent if he owe'd $90k? $30k a month? That's only 3 months of rent?
People act like owing $140k is insane, but a place that does $500k a month in business a couple of bad months and you are in debt $100k with a quickness.
This post was edited on 7/8/19 at 5:09 pm
Posted on 7/8/19 at 5:08 pm to Cracker
They probably clear a good bit, but I’d imagine they are paying a lot in insurance and rent if they don’t own the property.
Posted on 7/8/19 at 5:09 pm to Cracker
quote:
On game weekends they'll have $40-60 cover and it hits capacity by dark. So a 3,000 person place (its huge) is one-in-one-out for 5 hours 3 nights in a row every home game for football season.
NO this is not true
Well, I estimated the 3,000 people...thought I'd heard 2,800?
Anyways, the other parts are 100% factual. Or were when I was a student there and lived on the square and have gone back recently. I'm sure Rafters has added competition though, so the monopoly might not be there anymore.
But I've experienced what I wrote personally probably 50 times
Posted on 7/8/19 at 5:10 pm to TheCaterpillar
quote:
Bars in Oxford wouldn't care if bartenders would give their close handful of friends free cheap drinks because those friends would bring larger crowds of friends that wouldn't get free drinks.
That's what I did with my friends while at LSU. They just charged me the tab minimum of $10 and then I gave them a big tip at the end of the night for all I could drink.
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