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DalTxHornFan

Burnt Ends
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Posts posted by DalTxHornFan

  1. 49 minutes ago, jimmyjazz said:

    Bill Miller is off our list since they closed their Burnet Road location.  I mean, our older son was their "chicken guy".  He knew their fried chicken inside and out.  Good luck getting him to cook it for us, though.  Something something "finish my degree", blah.

    Love Bill Miller fried chicken!

  2. 42 minutes ago, Steamboat1874 said:

    Hard to beat the fried chicken at Golden Chick in downtown Georgetown.

    The golden roasted is also good and their sides are excellent.

    They don't do fried chicken livers, though.  Bush's on Williams Drive is where I go to have that guilty pleasure.  With cream gravy, of course!

    • Hook 'Em 1
    • Drool 1
  3. I'm with a group of couples that have rented a large beachfront house in Playa Langosta in February.  Anybody have any knowledge of that area?  Have not seen it mentioned on this thread.  Thanks.

  4. 1 hour ago, Spaulding Smails said:

    There's tons of open liens on the business associated with the tenant finish-out construction as well.  I can't believe how the lender let them get away with opening without paying for construction in full.  So, just to recap, they owe a construction loan, they owe InKind $1.5M, they're "significantly past due on rent", and who knows how many other vendors they owe.  How does that happen in less than a year of being open unless there's significant fraud / embezzlement going down?  And how do these lenders let it get this far out of whack?  Predatory lender or not, how does InKind let an obviously struggling business accrue $1.5M in what I'm assuming is unsecured debt?

    There is all kind of due diligence screw ups going on here.

    Calling out to @YGIFS here, but the Buda EDC is using hotel tax revenue here.  They should be accountable to somebody.

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  5. 1 hour ago, Spaulding Smails said:

    There's tons of open liens on the business associated with the tenant finish-out construction as well.  I can't believe how the lender let them get away with opening without paying for construction in full.  So, just to recap, they owe a construction loan, they owe InKind $1.5M, they're "significantly past due on rent", and who knows how many other vendors they owe.  How does that happen in less than a year of being open unless there's significant fraud / embezzlement going down?  And how do these lenders let it get this far out of whack?  Predatory lender or not, how does InKind let an obviously struggling business accrue $1.5M in what I'm assuming is unsecured debt?

    So far, no repercussions at Buda EDC.  Main Street Buda is thriving.  Not really sure why they needed to go all out on Valentina's.  That is a big space.  Something along the line of a food court like Liberty Hill's Main Street Social would make more sense.  And guess what?  That place is privately financed!

     

  6. I had a late lunch meeting there maybe two months ago.  I was waiting in the parking lot and watched their provisioning at the back dock.  No, it wasn't a Sysco truck, it was two minivans offloading plastic bags of food from HEB.  I thought that it looked inefficient and thought that it might be a one off, but now I'm guessing that was the only company they could do business with by then.

    • Haha 2
  7. 20 minutes ago, Shaggy3.0 said:

    i'm dumb (as if you all didn't know that).

    please explain.

     

    It is like a factoring arrangement.  In a normal factoring arrangement, a company will sell specific existing customer accounts receivable and will immediately get cash from the lender, say 65% of the face value. 

    What I have been seeing in some restaurant deals is that the borrower is selling future credit card collections for cash today.  And the "lender" typically requires the store to use their credit card payment system, so that the "lender" has total control.  Like I said, pretty much a doom loop when a company gets involved with a "lender" like that. 

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  8. 58 minutes ago, Anastasis said:

    Pretty sure that inkind is the company that was selling $100 for $50 gift cards a while back. Is this some kind of predatory loan racket to come in and target over extended businesses? Or just a one off. 

    I've investigated other failed restaurants.  What some lenders do is to freely advance money with no collateral but take direct control of all future credit card receipts.  They pretty much have you by the balls at that point.  Doom loop.

    • Hook 'Em 3
  9. 8 hours ago, Pimphand said:

    I think it's all perspective... If you ask my mom's cousin who was a student at the absolute zenith of old Austin he will tell you it was when Armadillo World Headquarters closed in 1980 and was replaced by a 13-story office building.

    If you ask me I'd probably pin it to Stevie Ray Vaughan's death because that really represented the end of the era of big name stars playing intimate venues outside of non showcase SXSW shows.

    Old Austin was nothing more than desiccated skeletal remains when Threadgill's World HQ closed to build more high rises

    Armadillo closing was a big deal.  The morning that I learned SRV had died was a real gut punch.

  10. 4 hours ago, Al_4_ISU said:

    Wait, you guys seriously haven't heard of pickled gizzards?  Are they just a Midwestern thing or something?  They're one of the world's greatest bar snacks.

    Turkey-Gizzards-Front-Jar-Sized-RGB.jpg

    These are the best

    Subscribed.

  11. 1 hour ago, Judge Roybeanbag said:

    Yeah but it ain’t a complete parking lot yet, barely.

    Don’t forget Wally’s!

    Of course, Wally's was just the Dairy Queen back in my early Fine Trojan days.  We had a friend that worked there who convinced us to never order one of those frosty's!  Made of pretty nasty stuff.

  12. 23 minutes ago, Brisketexan said:

    We live near Conan’s, and it’s a fave. As is Top Notch.
    I dig our green belts, we live on one now. Hike it, hunt for fossils and arrowheads, listen to the water running.
    The Little Longhorn has changed, but it’s still a damned fine beer joint.
    The Asian food scene in this town has EXPLODED since we moved here 35 years ago, lots of great places now.
    Taco trailers on N. Lamar. And my old school barber shop, Bob’s, is up there too.

    There’s plenty to love in this town. Still…it ain’t paradise.

    Top Notch and Conan's are still haunts that I go to with my now ancient HS friends.  Go Trojans!

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  13. 2 minutes ago, Jerry Callo said:

    Buda EDC offered several hundred thousand in incentives (I've seen $288-512k) for Valentina's to open in that big building.  That sounds like a bunch of money until its not.  I doubt Valentina's made all of the metrics to get all of the incentives.  I wouldn't be surprised if Valentina's hired and staffed more employees than were required just to try to make the requirements. 

    I have a hunch that you are on to something there.  Crazy that Buda EDC did that when there is already a pretty vibrant food and drink culture on Main Street.

  14. I get the whole idea of perfecting your craft and all that stuff. 

    The truth is that there is likely way more money to be made from full bars than smoked brisket.

  15. I have some pretty close ties to a restaurant that for years only did 5-10 pm service 7 days a week.  Then their demographics changed and they decided to add lunch service M-F and do full service 11-10 on Saturday and Sunday.  It really changed their operations a bunch.  Additional managers and employees.  Not always easy to find people that can wave the flag as well the originals.

    • Hook 'Em 4
  16. Craft BBQ, full hours, and a full bar operation seems to be a difficult puzzle to solve.  Valentina's has a great physical layout.  Perhaps they need to add other foods to round things out?

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