Jimmy Neese Speaks Out

yet they can deny a liquor license to someone who owes a lot of money, can't they?

quote:

Originally posted by paw-paw:
Hey, even our court system said he has done nothing wrong and does not have to pay back the money.

Yeah, I know. It is probably a fruitless endeavor. However, the city still should keep up the pressure and help the citizens run the thief out of town.

No, we can't take his business license but we can close his business, anyway.

I had pretty much agreed that it was pointless until the dumb bastage said what he said in the interview that started this thread. That crook stole my money. I want him gone.

quote:

That crook stole my money. I want him gone.

AMEN!!!!

I also find it odd that the TD continues to state that Neese is the principal stockholder in Bliss Block, LLC. Just who is/are the others?

quote:

Originally posted by FirenzeVeritas:
I also find it odd that the TD continues to state that Neese is the principal stockholder in Bliss Block, LLC. Just who is/are the others?

In an LLC, there can be just one and they would still be called the principal.

Y'all, stop hatin' on my Jimmy!

I think Bubakuck is right about the Blis Block ownership. Another clarification. Mr. Neese is the sole owner of Neese Real Estate. Mr. Neese makes money on every house sold by Neese Real Estate. The mom who pays her debts and is a great realtor, does most of the work and is the qualifying broker but one must remember the qualifying broker works for the owner.

I recently met his mom. She is a really nice lady.

quote:

Your still missing the point. Neese has not done anything "LEGALLY" wrong. As I said before , he IS still a snake. But you cannot deny him a business license because of low morals. They have no LEGAL grounds to try to punish him.

I didn't say he did anything illegal, I didn't even mention that point. He apparently owes the city a large amount of money. I would think the city could withhold a business license for that reason alone. Apparently the city is paying lawyers unfortunately to pursue money from him from what Ive read, let them make a legal opinion on this matter and suggest some appropriate methods to inflict some pain on him.

If he has all this money , why does'nt he pay his debt?

What is wrong with you people? He does not owe the city money, a business entity owes the city money. A judge had ruled accordingly. That is why certain business structures are used to protect investors if things go bad. If it were a corporation, it would be the same. Non-recourse means the lender has no recourse against the underlying individuals - only against the business entity. That is why corporations, limited liability companies, limited partnerships, professional corporations and the like exist - TO LIMIT LIABILITY - and the city entered into this agreement knowing what it meant.

LLC owners are protected from personal liability for business debts and claims -- a feature known as "limited liability." This means that if the business owes money or faces a lawsuit for some other reason, only the assets of the business itself are at risk. Creditors normally can't reach the personal assets of the LLC owners, such as a house or car. (Both LLC owners and corporate shareholders can lose this protection by acting illegally, unethically, or irresponsibly.)
The Ultimate Momm's Boy acted irresponsibly so the city should proceed. He took advantage of tax payer money and benefited from it.

Since Neese is an officer in other corporations and LLCs, has anyone checked to see if these also have outstanding debts? It would not affect the Bliss Block outcome, but it would be interesting to see if this is indeed his MO.

I know he still owns the BackYard Burgers buildings in Flo and Muscle Shoals.

Interesting but if it doesn't say Bliss Block on the deed Florence can't take them.

Just bnoycott his business.

Yes, people can certainly not use Neese Realty and whatever other business he is in if his lack of responsibility bothers people in town.

Also I point out again that there are two candidates for the city council this election who were players in this loan, Dick Jordan and Sam Pendleton.

We should have some clarification and more info on how they stood on facilitating the loan to him. Obviously they showed bad judgement.

I haven't seen the newspaper address this in its political coverage.

firenzeveritas, does First Southern Bank writting off a couple hundred thousand they could not collect from a Neese company make it a MO?

What was that company's name? He the only stockholder?

quote:

Originally posted by WILSONLAKERIVERRAT:

The Ultimate Momm's Boy acted irresponsibly so the city should proceed. He took advantage of tax payer money and benefited from it.

Good post explaining limited liability that no one seems to grasp. But I am not so sure there is evidence he acted irresponsibly or in any manner that would give rise to liability. The city offered him that loan and he took it. I am not sure he has any obligation to the city tax payers. The city has to answer to them but he doesn't. I think the city screwed up and now they are trying to save face for political reasons.

Everyone knows the truth...is there really any need for further discussion??

quote:

But I am not so sure there is evidence he acted irresponsibly or in any manner that would give rise to liability. The city offered him that loan and he took it. I am not sure he has any obligation to the city tax payers.

Other than pay back the loan, no. I think thats the way loans work, you borrow the money and you're susposed to pay it back. At least most of us do.

That being said, I am not in the group that believes we should throw good money after bad in pursuing this matter in court. Figure out a legal way to limit his business activity in this city and move on.

Vote against Dick Jordan if you think this whole loan fiasco was misguided buddyism. He is accountable seeking votes.

You know, I once was invited to look at this building and bid on working on it by an even more shady character than Neese. I am so glad I did not participate in this venture!

Momma's Boy Jimmy took advantage of the situation and benefited from it, city OK'd the loan and they have to face the music. The city can get back at Neese buy putting the screws to him by inspections and making sure that all taxes are up to date. They will need to play dirty pool just like Momma's Boy and push him into paying the debt. His reputation is tarnished now, just think of his future down the road when he needs something from the city. The good people of Florence need to remeber this and not use any aspect of Neese that includes his mom. Everyone, including the elected officials should repay the loan to the city of Florence. This is tax payer funds that Momma's Boy is using.

I wonder if he is ever gonna pay anything? Has he just gone deadbeat?

quote:

Originally posted by jacksonhieghts07:
I wonder if he is ever gonna pay anything? Has he just gone deadbeat?

No, he is not a court has ruled that the note was a non-recourse note. That means that he does not owe it to the city. Bliss Block owes it and may be broke. Jimmy is not liable for this debt.

How can I get a Jimmy Neese Loan? Who do I see?
I want to run around in Armani Suits and thumb my nose to the commoners. I wonder if we can send Neese to DC to rob them or Montgomery?

quote:

Originally posted by bubbaluck:

quote:

Originally posted by jacksonhieghts07:
I wonder if he is ever gonna pay anything? Has he just gone deadbeat?

No, he is not a court has ruled that the note was a non-recourse note. That means that he does not owe it to the city. Bliss Block owes it and may be broke. Jimmy is not liable for this debt.

Hey Bubba -- was Bliss Block an LLC or Ltd or what? Isn't there a definition behind how a company is structured as well as to who can be held liable for these type loans within the company...hence, the BB is responsible, but not Neese personally...

Bliss Block was/is an LLC. Trevor Stokes has continually referred to it as Ltd., but that is not the case. LLC are the initials for Limited Liability Corporation. In this case, we the taxpayers have seen just how this works only too well. (As far as I know Ltd. stands for limited which implies some kind of corporation, but is not the legal term in this state.)

FV is correct, it is an LLC and liability is limited to the assets owned only by the LLC, not its members.

That was what I was thinking, but I kept seeing it as "Ltd"...thanks for clearing that up...One of the companies I work with is an LLC for such that reason. They want to make the company profitable, but not lose their shirt off their back. It's a good set up for start up companies, but as with this case -- leaves itself for abuse...

I thank the posters with a little legal knowledge for clarifying that only Blis Block is responsible to repay the loan. My question is what will it take for Carrier or Irons to stand up at a city council meeting and say they want the city attorney to ask Mr. Neese for the Bliss Block records so the city can see what happened to the money and if there are any assets. Why will Mr. Neesse not provide the city with the information?

Jimmy Neese is the fiduciary for Bliss Block, LLC. If during discovery it is found that he personally gained benifit and denied such benefit to the secured creditors i.e. mortgage holders then he will inevitably be found responsible for the misuse of funds which may be criminal.

But otherwise, the mortgage holders can foreclose. If the primary holder cannot be made whole in advance of foreclosure then the lesser position holders cannot foreclose.

The question currently stands where the current income is going? If it is not for the primary mortgage and customary operating expenses then Nesse may be frauding the mortgage holder(s).