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re: 'Fixer Upper's' Chip Gaines sued by former business partners for fraud

Posted on 4/28/17 at 10:05 am to
Posted by Mo Jeaux
Member since Aug 2008
64553 posts
Posted on 4/28/17 at 10:05 am to
quote:

“I don’t come from the nerdy prep school he’s from. And when people talk to me that way they get their asses kicked. And if he’s not ready to do that he better shut his mouth. I’m not the toughest guy there is, but I can assure you that would not end well for [R]ick,” the text read,



Chip's a baw. Look at that.

That being said, I've heard and seen worse in corporate buyouts.
Posted by MusclesofBrussels
Member since Dec 2015
5034 posts
Posted on 4/28/17 at 10:05 am to
Sounds like Chip is a great guy off camera
Posted by Mo Jeaux
Member since Aug 2008
64553 posts
Posted on 4/28/17 at 10:05 am to
quote:

I would be if he negotiated the deal on behalf and hid it


That's not what he did.
Posted by NIH
Member since Aug 2008
124919 posts
Posted on 4/28/17 at 10:06 am to
Chip is basically challenging this guy to a duel at Sonic. No way around it.
Posted by Mo Jeaux
Member since Aug 2008
64553 posts
Posted on 4/28/17 at 10:06 am to
quote:

They will probably get 50k each to go away. They can buy a lake house in Waco with that.



Posted by Mo Jeaux
Member since Aug 2008
64553 posts
Posted on 4/28/17 at 10:06 am to
quote:

Chip is basically challenging this guy to a duel at Sonic. No way around it.


Posted by PearlJam
NotBeardEaves
Member since Aug 2014
13908 posts
Posted on 4/28/17 at 10:07 am to
quote:

People are acting like HGTV was just jonesing to use the Magnolia Realty company for their show

They wanted the Gaines for their show

Chip and Joanna could've started any other realty firm for their purpose

And like you said, it wasn't til the third season or so that people even realized what Magnolia Realty was
Exactly. You don't get to use hindsight to build a claim. The show could have just as easily never aired. The value of the magnolia brand is in chip and jo anna and they probably got a bargain based on fmv of the magnolia brand at the time.
Posted by Lakeboy7
New Orleans
Member since Jul 2011
28324 posts
Posted on 4/28/17 at 10:07 am to
quote:

new yankee workshop, those were real. norm would never mislead us.




God I loved that show
Posted by League Champs
Bayou Self
Member since Oct 2012
10340 posts
Posted on 4/28/17 at 10:08 am to
ah, what could have been
Posted by VinegarStrokes
Georgia
Member since Oct 2015
14269 posts
Posted on 4/28/17 at 10:18 am to
Posted by anc
Member since Nov 2012
20716 posts
Posted on 4/28/17 at 10:20 am to
I will say this.

As someone who has a wife who loves her some Fixer Upper, I have made the trek to their place in Waco. It is impressive. They either know how to run a business right, or they have hired people that have taught them.

My house looks like Joanna Gaines came in and decorated it and we probably spent $1200. Everything was reasonably priced. I was really surprised.

Posted by mikelbr
Baton Rouge
Member since Apr 2008
49099 posts
Posted on 4/28/17 at 10:21 am to
quote:

Man, maybe i could sue Amazon caue i has some stock back when it was like 50 bucks. Now is it like 950 bucks. I want damages and nonmilitary relief.


The ex partners have a case if he intentionally got them out of the picture and low balled them in a payoff because of the future HGTV deal. Now if it was coincidence then it's a different story.
Posted by jmcwhrter
Member since Nov 2012
8145 posts
Posted on 4/28/17 at 10:22 am to
At least Chip and Joanna renovate MOST of the house, unlike Property Brothers

"we sold you previous home for 400k.. and we bought this piece of crap built in the 80s for 300k. That leaves us 100k to renovate the living room, kitchen, and dining room. We'll use the spare bedrooms and closets to hide all of the shite from the cameras and then you're on your own."
Posted by lsucoonass
shreveport and east texas
Member since Nov 2003
70128 posts
Posted on 4/28/17 at 10:23 am to
Yeah aside from Baylor a lot of the city looks old and very rural
Posted by baldona
Florida
Member since Feb 2016
24462 posts
Posted on 4/28/17 at 10:34 am to
The fact is Magnolia wasn't worth dog shite when he bought them out, I mean it was basically nothing if they sold out for $2,500. Chip for whatever reason liked the name, that's literally all he paid for. I don't see him buying a business model or product considering they had one measly agent and took that little of money.

Chip and Joanna could of just as easily went with the show with a new company name and I don't see how he'd of owed them anything.

Given all that, yeah I think they'll settle just to move on and shut them up.
Posted by TU Rob
Birmingham
Member since Nov 2008
13575 posts
Posted on 4/28/17 at 10:38 am to
quote:

Chip is basically challenging this guy to a duel at Sonic. No way around it.


I've seen Chip's knuckles. This won't end well.
Posted by thelawnwranglers
Member since Sep 2007
42510 posts
Posted on 4/28/17 at 10:38 am to
quote:

That's not what he did.


I don't know what he did, but the business being featured in a tv show is material. He presumably worked for that business on investor behalf including himself. If the contract was signed 2 days afterwards it was in the works.

Again I don't know the details, but I could a scenario where a suit was necessary.
Posted by Ex-Popcorn
Member since Nov 2005
2371 posts
Posted on 4/28/17 at 10:40 am to
quote:

but the business being featured in a tv show is material


absolutely.
Posted by thelawnwranglers
Member since Sep 2007
42510 posts
Posted on 4/28/17 at 10:40 am to
quote:

I will say this.

As someone who has a wife who loves her some Fixer Upper, I have made the trek to their place in Waco. It is impressive. They either know how to run a business right, or they have hired people that have taught them.

My house looks like Joanna Gaines came in and decorated it and we probably spent $1200. Everything was reasonably priced. I was really surprised.


I like what they do mostly. I bet the place is pretty nice.
Posted by Mo Jeaux
Member since Aug 2008
64553 posts
Posted on 4/28/17 at 10:41 am to
quote:

The ex partners have a case if he intentionally got them out of the picture and low balled them in a payoff because of the future HGTV deal. Now if it was coincidence then it's a different story.


I'd love to see that valuation argument. "Chip, thanks for your $2500 offer. However, based on that HGTV deal, which may or may not lead to a show, which may or may not become successful, which may or may not become one of the hottest HGTV shows of all time, which may or may not lead to you and your wife's large social media following, which may or may not then influence our realty business for the better, we believe the valuation should be 25x."
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