they haven't replied to any of my emails... i have sent them a few, including follow ups on my copy of the "corporate agreement"....... they also change the password of our corporate email account so now i can't log in...... i'm still a legal partner/owner of Travel Factor until dec 31st, 2008, fyi
i am so tempted to make this blog public..... i think the public has the right to know what's going on with Travel Factor.....
they officially hate me because i sent them an email that contains these:
- 30,000/month salary for each 3 major shareholders is i think too much.... that's 90,000/month
- what if the income is less than 90,000 or exactly 90,000? tough luck for "minor shareholders"?
- why 30-30-30-5-5 and not 20-20-20-10-10?
- does it really have to be 30-30-30-5-5 PLUS a full time salary on top of that? can it be 30% OR full time salary?
- if major shareholders is asking for a full time salary for being full time employees, can minor shareholders get a part-time salary too? say, 5,000/month?
- can TF just hire employees? like, 3 maybe, for 15,000/month so all owners can go back to their day jobs? think of how much TF can save...
- 30% share PLUS a full time salary really sounds, I'm sorry I have to use this word, greedy to me....
- if I may ask, what exactly is the reason why you proposed to give me 5%? to shut me up? pity? consuelo de bobo? so as not to hurt my feelings? as one of the major "foundations" of travel factor a "generous" 5% is kinda insulting.....
- I have learned a lot while I was still with TF and I think i'm ready to be on my own. I am ready to let go of TF and start my own.
- with this, may I humbly request not to use the Travel Factor name anymore?
- since I named the Photoholic and i conceptualized and named the Surfvivor series, may I also humbly request not to use those names anymore?
about Liquidation process for Dec 2008:
- we are all aware that two of the partners, A & B, started really enjoying working with Travel Factor and instead of having Travel Factor to be just a part time thing for all partners (as originally planned) they decided to quit their day jobs, at their own free will.
- There is no part of the Corporation Agreement that we all signed mentioning about full time salary should anyone decided to quit their day jobs and work full time for Travel Factor.
- There is no clause in the Corporate Agreement that mentions "One or two partners have the right to demand a full time salary on a whim without written signed agreement".
- But, as a sign of goodwill, i'm proposing 20% of TF's total income as A & B's incentive for their hardwork and dedication.
- Incentive, not salary. ...If you want to declare this as salary make sure to remit your income tax accordingly or Travel Factor might get in trouble with the BIR for not remitting their employees taxes.
- I honestly think this is a fair enough set up. Both A and B are being compensated fairly for all their hardwork even if this is not part of the Corporate Agreement and at the same time all the partners will get what is legally theirs.
- unfortunately, I have never seen the books and I was never updated on the income, So it looks like A and B have the upper hand on how honest and how much they are willing to share the correct figures.
other Thoughts on A and B's decision to work fulltime
(this is copy-pasted from original email that i sent them)
Don't get me wrong, ofcourse I am not against their decisions of quiting their day jobs and working full time. I don't have the right to tell them what to do or what not to do. That's their life. Same way that they can't tell us what we should do or what we shouldn't do.We all have our own freewill. It was just unfortunate that with this decision of doing full time, they realized they're losing their sense of life balance (and I am sorry to hear that) which then resulted to a decision to kick out (or demote) the unsuspecting partners.
My apologies for bringing this up again, but in my humble opinion, I sincerely believe it is not the other partners fault that A and B lost their social lives and sense of life balance because they decided to work full time (at their own free will) and having said this, this shouldn't be a ground for kicking out or demote other unsuspecting partners or to make them feel guilty about not being able to work full time like what they did.
I'm just wondering, if A and B really feel that the set up is unfair why not just resign and put up their own company? Why impose such drastic measures of "reorganizing" the company? I just thought the "reorganization" is unethical and one-sided and selfish. Just my opinion.
with these i saw some ym status that says: (i hope this isn't for me)
- pag di mo ako tinigilan mapapatay kita
- ikaw na ang bida
other issues i'm having from A & B and the new partner:
- they have changed our corporate email password even if officially i am still a partner
- partnership expires end of december 2008
- im asking for my copy of the corporate agreement (i left the philippines when SEC returned the papers to us) and they're ignoring my emails
