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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsMitt uses the Jimmy John owner as an example of how to borrow money from your parents.
Ha--- Looks like an investment by his wealthy Dad who tried to find something for his pampered son to do.Liautaud founded Jimmy John's in 1983 after graduating from Elgin Academy (1982) and receiving the choice from his father to join the military, go to college or start a business.
Liautaud chose the latter and accepted his father's $25,000 loan to start a hot dog business with Liautaud owning 52% of the business and his father owning 48%.[5] After realizing a hot dog business would cost more than anticipated, Liautaud opened his first sandwich shop.
Liautaud is an outspoken Republican and Mitt Romney supporter. He will serve as a delegate representing Illinois's 13th Congressional District at the Republican National Convention in Tampa, FL.[6] Romney cited Liautaud as an example in a campaign speech on April 27th, 2012, suggesting that students should borrow money from their parents in order to attend school or open a business
The first Jimmy John's opened in a garage in Charleston, Illinois on January 13, 1983 with used equipment and no menu or outdoor advertisement selling four kinds of sandwiches and 25-cent Cokes. After giving samples around town, the business began to thrive.
In April 1985, Liautaud bought out his father's interest in the business, becoming sole owner. He opened his second store in Macomb, Illinois. He later opened several more stores and developed a prototype before franchising began in 1993.
http://en.wikipedia.org/wiki/Jimmy_John%27s
TBF
(32,074 posts)who could actually afford to loan $25K to their kids to start a business. It might be a very enlightening experience for him.
unblock
(52,272 posts)most of them could easily afford a measly $25k.
what about the 99%? oh, they're just sub-humans, or machines, or whatever. there to be exploited.
Sancho
(9,070 posts)If your family can give up $'s for either college or to start a business, then you have the silver spoon, lucky DNA, and head start!!
Willard is so out-of-touch...wow!
Jackpine Radical
(45,274 posts)Why can't the poor just borrow enough from their parents to build up a decent investment portfolio and get off the dole?
Gormy Cuss
(30,884 posts)I borrowed -$25,000 from my parents to attend college. I not only got off the dole but eventually had enough scratch to pay them back with money for their food and bills. Romney's suggestion is awesome!
(do I really need the tag?)
C_U_L8R
(45,005 posts)hootinholler
(26,449 posts)So we gave it a try. Ordered the turkey club, which is supposed to have more meat than the regular. Not only did they put tomato on my sub in the wrapper marked no tomato, but there was as much bacon as turkey. They advertise business sandwich platters and box lunches. I would have been embarrassed if I had ordered there for a business meeting lunch. At least the bread was fresh.
YellowRubberDuckie
(19,736 posts)We have gotten to know the guys that deliver. They screwed up my sandwich like that once. I called them back. They brought me a new sandwich and asked no questions. I live in Oklahoma. I gotta say, if I only went to blue places, we'd have no groceries, nothing to eat or drink, nothing to wear, etc.
aint_no_life_nowhere
(21,925 posts)Counting on being lucky enough to be born of wealthy parents is winning the lottery of life, the same lottery Mitt won when he was born.