Kyle Busch PAY YOUR BILLS

mike honcho

mike honcho

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Conractors say Kyle Busch owes them: A subcontractor who helped build NASCAR driver Kyle Busch's new multi-million-dollar headquarters has filed a lien against the project, and four others also say they're owed money. Collectively, the contractors say they are owed hundreds of thousands of dollars by the building's owner and general contractor. As small business owners, they said, they can't afford to go for months without being paid. Paul Davis of Creative Carpets LLC said he filed a mechanic's lien against the general contractor Friday. Davis said he is owed $60,000 for installing roughly 18,000 square feet of carpet and flooring. "As a business, I can't function," he said, adding his suppliers won't give him more materials until he pays them. "I'm spending more of my time chasing my money than making it. And in this economy, I can't do that." Davis said he filed the lien because he'd grown worried that he might not get paid the full amount he is owed. He said Busch's attorney told him "one group was going to walk away unhappy." The building is owned by L.B. Builders Construction Group, which also is overseeing construction. It is being built for KB Investments, a Kyle Busch-related entity. The subcontractors said they've been told by L.B. Builders that they haven't been paid because Kyle Busch owes nearly $3 million. On Friday, a blue tarp was taped over a sign outside the building that says KBM. Attorneys representing Busch and L.B. Builders confirmed a "construction dispute" over the building's cost, and said the groups are working to resolve it. A meeting to discuss the issue is set for mid-May, they said.(See full story at the Charlotte Observer)(5-1-2010)
 
No wonder he's driving like a madman- he needs the money.
 
Bucky Badger said:
Read the last sentance...There is a dispute over the construction costs. I wouldn't pay either if I was quoted a price and it was different when the bill came.
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yep, i'd like to see the contract. fixed price contracts are pretty straight forward but if it's cost plus then this could drag out a long time. feel bad for the subcontractors but the general contractor is responsible to pay them regardless of whether busch pays up or not. they were contracted to do a job by the general contractor, not busch.
 
Bucky Badger said:
Read the last sentance...There is a dispute over the construction costs. I wouldn't pay either if I was quoted a price and it was different when the bill came.
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Cost over-runs on a project of this size, "multi-million-dollar",are common. From start to finish you have price increases in both materials and labor plus as often the case a change in plans by the owner.

Things I've learned from the 962 square foot addition I put on, not had put on, my first house 25 years ago to the 10 x 12 utility shed we built 2 years ago. It will NEVER be done on the timetable proposed and it will ALWAYS cost more than budgeted.
 
SST55 said:
Cost over-runs on a project of this size, "multi-million-dollar",are common. From start to finish you have price increases in both materials and labor plus as often the case a change in plans by the owner.

Things I've learned from the 962 square foot addition I put on, not had put on, my first house 25 years ago to the 10 x 12 utility shed we built 2 years ago. It will NEVER be done on the timetable proposed and it will ALWAYS cost more than budgeted.
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I've been doing this since '89..Yes their are over-runs...I get all Homeowners to sign a change order before any extra work is done and nerver once has anyone chalenged (SP?) one of my bills.

Most jobs I do I add 10-12% and many of my jobs come in UNDER budget.
 
Seems somebody may be broke.

http://msn.foxsports.com/nascar/story/Kyle-Busch-regrets-forming-NASCAR-team

Kyle Busch isn't happy with the financial demands of his truck team, which has become a money pit for the 25-year-old owner-driver.

“I’m pretty screwed right now,” Busch said. “I’ve got a long way ahead of me to get some financial stability back. It’s a good thing I’m young, and hopefully I stay healthy.

“It’s taken 3½ years to build the race shop I’m trying to build, and the costs associated with that have increased drastically. Since I wasn’t able to move into that place, I had to buy a building. I had to buy a place to put the stuff. I had to buy all the race equipment, plus I’m paying for that shop being built, so everything’s just going out the door.”

Had he known what he knows now, would Busch still have launched the new team this year?

“No, I wouldn’t do it — bad idea,” he said.
 
When I first read about him starting a team I thought it was a bad move to build from the ground up instead of buying a place. Surely there are shops up for sale with the economy like it is. Ego, bad advice, inexperience with money, or plain stupidity? Hard to pick what the root of the problem is. Hell, didn't dummy Dale Jr. bank some cash before going nuts and owning a team?

Maybe Kyle should have worried about driving a few more years before jumping into being an owner. Enjoy having one of the coolest jobs on the planet before giving yourself an ulser at 25.
 
Equally stupid is the likelyhood that anyone would want to add another team to their roster to help out Rick Hendrick for a year.It would involve a lot of money,time and pressure and the only winner would be Rick. I don't see it happening.
 
love him or hate him kyle does do things in a big way. i hope he comes out of this ok with his team intact.
 
Probably didn't help much that his primary sponsor, Miccosukee, pulled out a week or so before the beginning of the season.
 
another point of view:

Take responsibility, don't make excuses.


And that - may be my last post.
 
I don't feel sorry for him.
Nobody comes into the sport with empty pockets.
He'll figure it out.
 
zevious said:
http://www.nascar.com/2010/news/fea...car.kybusch.ownership.difficulties/index.html
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"It's like you or anyone else contracted a house to be built and you paid Fred the Builder. But then for whatever reason, Fred didn't pay the plumber right away," Ren said. "Well, that's not your fault. That's on Fred the Builder. The general contractor pays the subcontractors -- and if they aren't getting paid, that's his fault. Kyle paid the general contractor; the rest is on them."
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:D:D
 
PettyBlue said:
Young Mr. Busch can't speak for himself?
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"Fortunately, I've had great partners like Z-Line, Dollar General, Heluva Good!, and we've been able to sell some races [as one-off deals]. Later on down the year, Interstate Batteries has bought a race. We're excited about the people we've been able to work with, but we need to put that full sponsor on there and make the truck have its own paint scheme every week. It's been a costly venture, a challenging one, but we'll keep moving forward."
 
dpkimmel2001 said:
Probably didn't help much that his primary sponsor, Miccosukee, pulled out a week or so before the beginning of the season.
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I wasnt aware that Miccosukee was following Kyle Busch if they had stayed. I assumed they would of stayed with Billy Ballew.

Either way KBM will be fine. NOS, Z-Line, Interstate, Freightliner, and Mars will help him out eventually.
 
Stewart Fan said:
How many people think he will make it and how many think he will sell out?
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he'll make it and be successful. he's not the first or last businessman to encounter unexpected expenses starting a business.
 
Bucky Badger said:
I betcha Affinity Group (Camping World) won't be able to support the series much longer.
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Then a new sponsor comes along. It might be a smaller sponsor, but the series won't die.

I heard the same **** about ARCA when RE/MAX pulled out last year. "Oh, ARCA's dead", "ARCA won't be around next year", "ARCA's a thing of the past", "ARCA will never survive". One year later, ARCA Racing Series is still alive and kicking. Hell, even their Truck Series is still around.

Quit drinking Mike Mulhern's fool-aid.
 
I think the Truck series will be fine. I hope they don't go the way of Iroc because they have some of the best racing most of the time.
 
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