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[adusa37]

My mom and father own 50% of this company. My grandparents also own 50%.

Right now we are going under at a rapid pace because my grandfather can and will not stop spending and refuses to fire someone who is unproductive and it getting WAY over paid. My grandmother is unstable and is afraid of my grandfather.

We want to fire this person that is Unproductive. But my grandfather says absolutely not! We are afraid at if my parents as 50% owners fire this unproductive man, that my grandfather will simply rehire him.

What can we do to make sure that this doesn't happen? Should we get a lawyer?
Also is there any legal way to make him HAVE to make us sign any agreements that involve this business?

[barraq]

You are going to need a mediator to settle this issue, as your grandfather does not understand the financial losses the rest of you are aware of. It will take a very skillful person to show the long-term problems the unproductive and overpaid employee is causing, and to explain to grandfather that sometimes the business changes but the employees don't or can't change and they no longer belong there.

It usually takes an outsider to explain this as your grandfather still considers your mom and father children. You could also discuss this issue with other businessmen and women who your grandfather respects.

This is a power struggle. If you take it to court it could cause your grandfather to become impossibly stubborn. Your problem is the 50-50 ownership prevents either side from asserting full control.

Let's name grandfather George and this someone Sam.

The only quick solution I can see is to tell George the business cannot afford Sam, so if George still wants Sam around, then George has to pay Sam out of George's personal money, not the business money.

[elton]

buy his share