Local Bank causes me to close business.
In September of 1996 BankAtlantic (B.A.) in Ft.Lauderdale, Florida asked my partner and myself to close our small accounts receivable funding company (factoring) called KSR Financial Group and come work for them in an executive capacity in their new division called BankAtlantic Factors. We were to wind down our existing business over the next several months while opening the new division for B.A. This I have in writing in the form of an audit that the bank did on our business before hiring us which states that it will require several months to close KSR. We were hired in mid January 1997. My partner worked on advertising for the new division and I continued to handle the daily affairs of KSR while working for BA developing a new computer program and basic ground work for the new division. On or about April 10,1997 I was terminated because I was doing exactly what we had planned to do- handle the daily affairs of KSR. Not only did I lose my new job but I also lost my 6 year old business and of course my livelihood. I was told verbally that day that I should have taken work home (impossible w/o the KSR computer program which was on what was then the bank's computer in the office)for KSR. My partner remained for almost another year,then they closed the entire division down. I was told we would have 2 years to get this up and running.That is what convinced us to go with the bank as we felt we had a better chance to grow w/BA rather than alone with our smaller limited assets. I would like to get at least the balance of a years' salary since they kept my partner on for year. Our base salary was $90,000 (plus signing bonus already paid to us ($22,000) plus auto expense and health insurance). At 50 this was quite a devastating blow to myself and my wife and kids. I saw an attorney but since I lost my income I could not afford to pursue this matter. Whatever you can do would certainly be appreciated. Thank you.