Word: plainview
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Dates: during 2000-2000
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...other cases, partnership agreements can be drawn up between family members. That was how Bruce Carlow, 54, took over Trio Hardware, a store his father Bernie started in 1963 in Plainview, N.Y. With 15 full- and part-time employees, Trio Hardware currently generates $1.2 million a year in revenues. The deal prevented the elder Carlow from selling the store out from under his son, by giving Bruce the right of first refusal should a sale be contemplated. In return, Bruce agreed to pay his father $2,500 a month plus 7% interest over a 10-year period and to retain...