I spoke to the general manager of the Green Star co-op and he is familiar with the Ludgate situation. Their organization is a couple years away from being able to consider an extension of the sort. He did offer some logistical support if there was a group willing to take over Ludgates. I think that raising money ($100,000 or $200,000) is the easy part. The tough thing is finding the manpower especially for the transition. And some reliable experienced person who was able to run it. If you think you know people who could perform those roles then there's a chance. Otherwise I think it's hopeless. Too bad there was no warning to the community. Basically we would be starting a business that had already shut down which is a lot harder than taking over a more or less going concern.
I don't have time to actually work on this project because of other commitments I might be able to spend a little time providing free consulting if that would help.
Seymour Smidt
Emeritus Professor of Finance and Economics
Johnson Graduate School of Management
Cornell University
607-273-9410 (H)
607-275-7824 (C)
Sorry folks, should have read this one first.
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