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Anyone have 700k?

cottrell75 said:
I’m requesting a no interest/no re-pay loan from @marshallisqbu
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I didn't go to school in Huntington so I have no bar connections. I have been going to games here since the mid 60s and l have lived here since 2004. I had always heard of the Union but untill I looked it up after reading Chuck today, I didn't know where it is. 700k seems like a lot of money for a place so small but hey, its not my money
 
Another stupid post by GHMY. He needs to come out of mommies basement.
Obviously he doesn’t realize Herb is testing the waters and see who bites. You can always come down on price, not go up.
 
Two couches at my house. Am digging "deep" in both for any accumulated loose change, but I don't think I get close to 700 Gs!
 
What’s the deal with all of the racism accusations against Herb/that bar?
 
riflearm2 said:
What’s the deal with all of the racism accusations against Herb/that bar?
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Im pretty sure I remember when I was at MU, there was a policy of no dew rags, bandanas, saggy pants, etc and they actually enforced it at the door unlike many bars... The thought was that said policy was to keep African Americans out. One of my roommates was black and he would not go to the Union. If the rest of us went, he would meet up with other friends and head elsewhere.
 
RhinoD said:
Im pretty sure I remember when I was at MU, there was a policy of no dew rags, bandanas, saggy pants, etc and they actually enforced it at the door unlike many bars... The thought was that said policy was to keep African Americans out. One of my roommates was black and he would not go to the Union. If the rest of us went, he would meet up with other friends and head elsewhere.
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Some of the stories over the last couple of years have gotten a lot worse. I’ve seen many establishments with the “anti-black” attire rules posted on their doors, but recent stories from The Union seem to go beyond that.
 
When I was in school (turn of the century), my friends and I avoided the Union because none of us were involved in Greek society or Marshall Athletics. The perception was there that if you weren't connected via one of those two groups, and you stepped on the wrong shoe, you'd wake up at St. Mary's.

The black people I knew also treated it as a no-fly zone.
 
riflearm2 said:
What’s the deal with all of the racism accusations against Herb/that bar?
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A sign posted above the jukebox read,
'No rap/death metal music. If it is played your song will be skipped and you won't get a refund.'

Among other things, he also kept a percentage of all the bartender tips.
 
TwolfHerdfan said:
Another stupid post by GHMY. He needs to come out of mommies basement.
Obviously he doesn’t realize Herb is testing the waters and see who bites. You can always come down on price, not go up.
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Well, if I am stupid, your posts seem to outperform mine in terms of stupidity.
You don't know Herb and thats okay, you're out of touch with everything.
He really believes he can get that much for just the bar. He spent a ton of money on refurbishing the place; bathrooms, outside, and has a giant party room for private events.
Those are probably why his price is ridiculously inflated.
Also, if you read the article, which you didn't, you'd have seen that he won't sell unless his price is met.

Again, I will write this in crayon for you...you are only getting the bar. You don't get the building, you don't get the apartments above it, you get a bar and thats it...for $700,000 in Huntington.

Thats been a problem with many business owners, they inflate the hell out of their building listings in Huntington and never budge on pricing. Its not until the damn place is falling in on itself that they lower it.
 
GoHerdMarshallYes said:
Well, if I am stupid, your posts seem to outperform mine in terms of stupidity.
You don't know Herb and thats okay, you're out of touch with everything.
He really believes he can get that much for just the bar. He spent a ton of money on refurbishing the place; bathrooms, outside, and has a giant party room for private events.
Those are probably why his price is ridiculously inflated.
Also, if you read the article, which you didn't, you'd have seen that he won't sell unless his price is met.

Again, I will write this in crayon for you...you are only getting the bar. You don't get the building, you don't get the apartments above it, you get a bar and thats it...for $700,000 in Huntington.

Thats been a problem with many business owners, they inflate the hell out of their building listings in Huntington and never budge on pricing. Its not until the damn place is falling in on itself that they lower it.
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What’s wrong with him trying to get the most out of his place after all the time and effort he’s put into it?
I am sure he hopes someone will write a check for 700K. Is he counting on it? Likely not.
I am also sure he would be happy to entertain offers. If it makes sense and he feels someone will keep the place in good order and continue on, he’ll let it go and ride off into the sunset with a nice retirement in his pockets. Not hard to figure out.
 
cottrell75 said:
Ripoff? Herb gets older every year while the sorority girls stay the same age...can’t put a price on fringe benefits :D
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Thats worked against him actually.

He has only female bartenders, who are maybe just over 20, okay, cool. But turnover is really high and constantly hiring young girls who have no clue how to pour drinks, makes service slow.
I know someone who has everything you'd want in a bartender, managed a bar, had bartended for a few years, and had a decent amount of friends/following that can bring business, etc, except "she was too experienced to work there."
 
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RhinoD said:
Im pretty sure I remember when I was at MU, there was a policy of no dew rags, bandanas, saggy pants, etc and they actually enforced it at the door unlike many bars... The thought was that said policy was to keep African Americans out. One of my roommates was black and he would not go to the Union. If the rest of us went, he would meet up with other friends and head elsewhere.
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Not entirely true. Plenty of athletes were welcomed in. Herb often knew who they were. Football players often frequented the place.
But they did know to not get out of line, however, thats pretty much everyone.
 
TwolfHerdfan said:
What’s wrong with him trying to get the most out of his place after all the time and effort he’s put into it?
I am sure he hopes someone will write a check for 700K. Is he counting on it? Likely not.
I am also sure he would be happy to entertain offers. If it makes sense and he feels someone will keep the place in good order and continue on, he’ll let it go and ride off into the sunset with a nice retirement in his pockets. Not hard to figure out.
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There's a difference between testing the waters for a return in interest and being so unrealistic that you're turning away potential buyers before they even meet you.
Several bars come and go so Herb knows what their prices were listed as and what owners got for them in reality.
Jake's was listed at a high price and sold for waaay lower than what was asked not too long ago.

Herb is basically asking you to spend an astronomical amount of money for just a part of something, that happens to be an entity with a very, very historically high failure rate, nationwide...during a pandemic.
 
GoHerdMarshallYes said:
There's a difference between testing the waters for a return in interest and being so unrealistic that you're turning away potential buyers before they even meet you.
Several bars come and go so Herb knows what their prices were listed as and what owners got for them in reality.
Jake's was listed at a high price and sold for waaay lower than what was asked not too long ago.

Herb is basically asking you to spend an astronomical amount of money for just a part of something, that happens to be an entity with a very, very historically high failure rate, nationwide...during a pandemic.
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Why don’t you tell him his price is too high. I was in real estate back in the day. He has looked at the comps, square footage and what he has invested in it. He will set a price knowing that negotiations will likely take place.
He can take it or leave it, like everyone else does in selling their property. It’s not hard to understand.
 
TwolfHerdfan said:
Why don’t you tell him his price is too high. I was in real estate back in the day. He has looked at the comps, square footage and what he has invested in it. He will set a price knowing that negotiations will likely take place.
He can take it or leave it, like everyone else does in selling their property. It’s not hard to understand.
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I won't need to tell him, nobody will need to either.

Do you still take or leave when its just you at the negotiating table?
Nobody is going to talk when you have a sign that says, "I don't want to talk."
Once more, when you don't read articles, and try too hard to spin your own outdated experiences you kinda become a fencepost turtle.

Just take this L and move on.
 
GoHerdMarshallYes said:
I won't need to tell him, nobody will need to either.

Do you still take or leave when its just you at the negotiating table?
Nobody is going to talk when you have a sign that says, "I don't want to talk."
Once more, when you don't read articles, and try too hard to spin your own outdated experiences you kinda become a fencepost turtle.

Just take this L and move on.
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Your issue is, you can’t accept others opinions. And it’s just that. There is no right or wrong in this discussion. Herb can do what he damn well pleases whether you agree with that or not. You aren’t giving him enough credit even though you have no idea of his situation.
You are getting upset and throwing a tantrum because you feel some guy is asking too much for his business? Grow up dude. When you can carry on an adult conversation without resorting to childish diatribes and snarky comments, then get back to me. Until then, block me and move on. Your posts are worthless to me.
 
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GoHerdMarshallYes said:
Thats just for the bar...not the building or apartments above it.
Absolute ripoff.
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That is an insane amount to $ to pay for a bar, where profit margin just cannot be very high, the owner (Your landlord, because you were so stupid you didn’t buy the building!) (Herb) can raise the rent, charge for maintenance etc. I want some of his gummies!!
Add Huntington economic outlook, CoVid19 uncertainty....he’ll be lucky to keep from closing the doors, esp if students get sent home for an extended period of time.....
 
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W-S HerdFan said:
That is an insane amount to $ to pay for a bar, where profit margin just cannot be very high, the owner (Your landlord, because you were so stupid you didn’t buy the building!) (Herb) can raise the rent, charge for maintenance etc. I want some of his gummies!!
Add Huntington economic outlook, CoVid19 uncertainty....he’ll be lucky to keep from closing the doors, esp if students get sent home for an extended period of time.....
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I agree. Which is why I said it's a ripoff.
 
TwolfHerdfan said:
Your issue is, you can’t accept others opinions. And it’s just that. There is no right or wrong in this discussion. Herb can do what he damn well pleases whether you agree with that or not. You aren’t giving him enough credit even though you have no idea of his situation.
You are getting upset and throwing a tantrum because you feel some guy is asking too much for his business? Grow up dude. When you can carry on an adult conversation without resorting to childish diatribes and snarky comments, then get back to me. Until then, block me and move on. Your posts are worthless to me.
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The amount of wrong in this is laughably high but...

Me not being accepting of others opinions? Who was the one who got mad when I gave a different opinion on this matter, which was that this is not a good deal for any potential buyers?
Hint: It wasn't me.
Yes, Herb can do what he damn well pleases, but if he posts his asking price in a public paper (and any real estate company can find the listing), WE can give feedback on it if WE damn well please.

Not giving him enough credit?!?! The guy's been in business in the industry the longest ever for the city! He's moved what 4 times? Largely because of elements out of his control too?
I give him tons of credit for that. I also, very much enjoyed going to The Union. He's a stand up guy, always willing to chat, and knows how to run a good bar for the most part.

However, agreeing with his asking price is giving him too much credit.

You could pay for a $15.00 t-shirt from a generic brand or pay 10x the price for a t-shirt from a well known designer brand and I think thats what he's trying to do.

lol, no tantrum here, I simply said its a ripoff.
You threw the tantrum posting that what I said was stupid and I need to emerge from my folks' basement.
All you've been doing in this has been posting purely on emotion, and thats okay, because you're kind of out of touch with this subject and you sorta don't know how all this works.

Ignoring logic and reason and arguing purely on if you like something or not based on emotion, is actually what children do.

So, when you can carry on an adult conversation without resorting to childish diatribes and snarky comments then you may get back to me.
 
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GoHerdMarshallYes said:
The amount of wrong in this is laughably high but...

Me not being accepting of others opinions? Who was the one who got mad when I gave a different opinion on this matter, which was that this is not a good deal for any potential buyers?
Hint: It wasn't me.
Yes, Herb can do what he damn well pleases, but if he posts his asking price in a public paper (and any real estate company can find the listing), WE can give feedback on it if WE damn well please.

Not giving him enough credit?!?! The guy's been in business in the industry the longest ever for the city! He's moved what 4 times? Largely because of elements out of his control too?
I give him tons of credit for that. I also, very much enjoyed going to The Union. He's a stand up guy, always willing to chat, and knows how to run a good bar for the most part.

However, agreeing with his asking price is giving him too much credit.

You could pay for a $15.00 t-shirt from a generic brand or pay 10x the price for a t-shirt from a well known designer brand and I think thats what he's trying to do.

lol, no tantrum here, I simply said its a ripoff.
You threw the tantrum posting that what I said was stupid and I need to emerge from my folks' basement.
All you've been doing in this has been posting purely on emotion, and thats okay, because you're kind of out of touch with this subject and you sorta don't know how all this works.

Ignoring logic and reason and arguing purely on if you like something or not based on emotion, is actually what children do.

So, when you can carry on an adult conversation without resorting to childish diatribes and snarky comments then you may get back to me.
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Sorry, you continue to show you can't accept others opinions.
I never said I agreed with the price or thought he could get that or close. I was defending his right to ask that price. Frankly, he'll be lucky to get close to that but he still has the right to ask what he wants. Why do you find that hard to comprehend?
Just accept that others have differing opinions. If you don't agree, that's cool, just say you don't agree and end it; no need for trying to be an internet bad ass or clever. Or better yet, don't respond at all.
 
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TwolfHerdfan said:
Sorry, you continue to show you can't accept others opinions.
I never said I agreed with the price or thought he could get that or close. I was defending his right to ask that price. Frankly, he'll be lucky to get close to that but he still has the right to ask what he wants. Why do you find that hard to comprehend?
Just accept that others have differing opinions. If you don't agree, that's cool, just say you don't agree and end it; no need for trying to be an internet bad ass or clever. Or better yet, don't respond at all.
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Agree. I will be 72 years old in a few months. I can tell the Yankees I will not catch clt them for less that $2 million a year. There is nothig wrong with me making that my minimum but it's up to them if they choose to pay it..
The price the man is asking for his business is no different
 
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TwolfHerdfan said:
Sorry, you continue to show you can't accept others opinions.
I never said I agreed with the price or thought he could get that or close. I was defending his right to ask that price. Frankly, he'll be lucky to get close to that but he still has the right to ask what he wants. Why do you find that hard to comprehend?
Just accept that others have differing opinions. If you don't agree, that's cool, just say you don't agree and end it; no need for trying to be an internet bad ass or clever. Or better yet, don't respond at all.
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Thought you would stop responding to me. Guess you can't keep your word.

I, too, don't object to him doing that, I just find it a ripoff for what you're getting.
Maybe you should do some more research and reading into the situation before you post any more on this.
 
It seems to me that the best way to determine if 700,000 is too much for a business is have a look at the books. If it has produced enough income over a long period of time it may be worth taking a look at it if the ROI is there. The other thing of course would be the reputation of the club at this present time. Is it trending up or down? Is the clientele old and dying off or is it appealing to a crowd who will stick around long enough to pay off a loan? I went to Marshall with Herb and have no dog in this fight
 
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ohio herd said:
It seems to me that the best way to determine if 700,000 is too much for a business is have a look at the books. If it has produced enough income over a long period of time it may be worth taking a look at it if the ROI is there. The other thing of course would be the reputation of the club at this present time. Is it trending up or down? Is the clientele old and dying off or is it appealing to a crowd who will stick around long enough to pay off a loan? I went to Marshall with Herb and have no dog in this fight
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That and tha fact that any new business, and yes with new owners it would e new, has a terrible survival rate. Bra are o e of the ,lowest for survival. They are so trendy. Popular one month and then the crowd moves to the new one up the street.
 
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Owning a bar is usually an early-retirement job for someone who made their money doing something else. It's often about having a place to drink and a connection with young people (and barely legal bartenders with bare midriffs), and profitability isn't always necessary to make it worth it.
 
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ohio herd said:
It seems to me that the best way to determine if 700,000 is too much for a business is have a look at the books. If it has produced enough income over a long period of time it may be worth taking a look at it if the ROI is there. The other thing of course would be the reputation of the club at this present time. Is it trending up or down? Is the clientele old and dying off or is it appealing to a crowd who will stick around long enough to pay off a loan? I went to Marshall with Herb and have no dog in this fight
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I'd say he's hoping the name/brand is what pushes it above normal price.
His issue was when he got the building and re-designed it, he tried too hard to make it look like the old Union in the previous building it was in (easily 1/2 the size).
That created problems with crowding and flow of patrons.
Also, that place is actually very large. It used to be a different bar that had multiple pool tables, a full bar, dance floor, and back bar.
He's been using maybe 30% of that space.

BUT The Union is basically MU Homecoming HQ for everyone coming to visit. It is insanely packed at that time. It also is decently crowded most weekends, with his Ladies Night specials being probably the most popular.
But Herb ran it differently than others so if he ever sells, the new owner will have a challenge.
 
herdalicious said:
When I was in school (turn of the century), my friends and I avoided the Union because none of us were involved in Greek society or Marshall Athletics. The perception was there that if you weren't connected via one of those two groups, and you stepped on the wrong shoe, you'd wake up at St. Mary's.
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I can only speak for the early 90s, but that was not the case. If anything, there was more rivalry between different fraternities, but I only saw that start a fight twice (that I can remember).
 
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