Nothus wrote:
This is Peter Hood we're talking about. Common sense wasn't his forte, considering how he thought it was a good idea to sell the lease despite it being used as security on the bank overdraft.
He probably saw it as a short sighted solution to cashflow problems.
You could suggest that, and maybe he's not businessman of the year, but the very basic arithmetic of a modest cash sum in return for inflicting on yourself a hefty lease and an even heftier anual open-ended expenditure does not add up. So I don't buy that that's a fair picture. Nobody would be THAT stupid or financially incompetent and it isn't as if it would just be him, his accountants etc would also have been involved.
I'll concede that none of them seemingly twigging that the bank would not be best pleased at suddeny losing its security doesn't mark them out as financial whizzes, true. But still.