Quote:
Originally Posted by glatt
In your first sentence, you say some people go into business for "reasons other than profit." Your words.
Therefore, businesses aren't always for profit. Obviously, the profit has to be part of it if they want to keep operating. But there can be other reasons.
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Business is about profit. THEY weren't primarily about business. They were about something else; but, needed the business for its profit to get there. Otherwise, they wouldn't have gone the business route.
Quote:
Originally Posted by glatt
I work at a law firm, and it was founded by the original partners as a place to be special compared to other law firms at the time. They wanted to surround themselves with special people who would work hard but also enjoy each other's company. Build a reputation. Make a decent place to work. The purpose of that business they made was to make a living, not to make a profit. They have all retired, and the "business is for profit" jerks have taken over running the place. It sucks now.
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If they got any kind of retirement benefits out of it, including the employer's contribution to Social Security, they had profit sharing. Sounds like the people running it now want theirs up front. Perhaps they don't think that retiring from there is a viable option for
them anymore.