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Cape Gazette
Lewes, Delaware
Jim's Towing Service
August 14, 1998     Cape Gazette
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August 14, 1998
 

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48 - CAPE GAZETTE, Friday, August 14 - August 20, 1998 McQuay's Ice House Liquors here to stay in Rehoboth By Michael Short Old Ice House Liquors, better known as McQuay's, is here to stay. New Manager Michael Fountain said he wants to put to rest any ru- mors that the brick building just beyond the Rehoboth Beach draw- bridge is going out of business. The owners have changed, the selection is better and prices will be lower, he said. Butthe business has a 4 l/2-year lease with the city of Rehoboth Beach and is commit- ted to the location, Fountain said. "Contrary to some of the things reported, we are not leaving to- morrow," Fountain said of the liquor store. The business was purchased in May, but Fountain declined to name the three new owners. He said, however, that they are all lo- cal businessmen. While the business looks the same, customers will find a num- ber of changes inside. Old Ice House has added a more upscale line, which includes small batch bourbon, premium vodka like Grey Goose, more wines and more imported or microbrewery beer. Among the microbrewery beers is locally produced Dogfish Head. There is a new wine room, more Italian wines and a greatly ex- panded wine selection. Fountain said that reflects the trend toward drinking at home and experiment- ing with new wines and beverages as consumers develop more edu- cated palates. "I think people's tastes are im- proving. People are also starting to say, 'let Is try something different.' The)tar e trying to find out what the# like," he said. "More and more people are drinking wine. People are drinking at home and experimenting with wines," he said. Michael Short photo Old Ice House Liquors in Rehoboth Beach has a new manag- er. Michael Fountain, 29, a University of Delaware graduate, is now the manager of the store, which is under new owner. ship. Shown are (I-r) employees Richard Zmuda, Fountain and Tom Mason. manent insurance should be used. with term insurance to fund the Business Term can be appropriate for a buy-sell agreement than switch to short time frame, but becomes a more cost-effective permanent more expensive as time goes by. plan when the financial strength of Cash-value insurance can be pur- the corporation improves. :: chased with level annual premi- Harry C. Daisey of Seaford is ums, and the values can be used to an investment professional with fund the retirement buyout. Advantage Capital Corporation. A new corporation may start out : He may be reached at 629-5638. Prudential Continued from page 46 purchase buy-seih A potential transfer-for-value problem could make the usually tax-free death benefits subject to income tax. The deceased's estate is in- creased in size unnecessarily. In- cluded in the estate is the value of the business in addition to the val- ue of the life insurance policy, be- cause the deceased possessed inci- dents of ownership in the policy insuring his or her life. The deceased policy owner could have changed the beneficia- ry just prior to death. This could result in the surviving business partner still having to purchase the business, but now not having ade- quate cash funding to do so. A properly thought out buy-sell agreement, with adequate owners, is extremely beneficial to all busi- ness owners, and those who sur- vive and acquire the business, as well as the families of those who die and receive full value for their business interest in a timely man- ner. Keep in mind that buy-sell agreements normally are thought to be activated by the death of an owner. However, the retirement and/or disability of one of the owners al- so would be an event that could cause undue hardship on both the business and the other owners. The need for adequate disability insurance to fund a disability buy- sell should also be addressed. As with any discussion on life insurance, the evaluation must be made as to whether term or per- COMMERCIAL SPACE Route One 4 Spaces 5,000 SQ. FT. EACH. Between Lewes and Rehoboth Available November 1, 1998 Call Bette Gallo 227-6101 * 1-800-321-2268 An independently Owned and Operated Member of the Prudential Real Estate Affiliates, Inc. But that doesn't mean the store standards. It just means that there won't carry the time-honored Continued on page 49 I ROBERT V. WITSIL, JR. CML, CRIMINAL LAW & ZONING Accidents & Personal Injury Home Owners Associations Misdemeanor& Felony Offenses Zoning & Variances Corporate & Business Law DUI & Traffic Offenses Wilts & Estates Commercial Litigation 120 South Bedfi)rd Street 420 Rchoboth Ave. Georgetown, DE 19947 Rchoboth Beach, DE 19971 855-0120 . By Appointment Listing of areas of practice does not represent specialization in those areas. HERRING CREEK ESTATES This home features an entry foyer, breakfast room, formal dining room, LR, 3 BR, 2 1/2 BAs, 2 car garage, heated workshop, central vacuum, and even and irrigation sys- tern. Gorgeous, and on a half acre lot. $249,000 QUIET COUNTRY LIVING 3 BR, 2 BAs, large rooms, 5: ceiling fans, and a short dri- ve to the beaches, shop- ping, entertainment, dining, yet away from the conges- tion and noise. By appoint- ment only. $134,900. SPACIOUS RANCHER ...on a large corner lot in the delightful development of Cov- ey Creek. 3 BR, 2 BAs, screened porch, convenient location, meticulously main- tained and tastefully decorat- ed. All this for only $149,900. LOOKING FOR A VACATION OR STARTER HOME? Then you can stop searching because we have found it in River- breeze. A 24x48 doublewide mobile home that has plenty of room for your family. 3 BR, 2 BAs, LR, DR, screened rear deck, carport, and much more, on a large corner lot. Being sold furnished. Don't let this one get away. $82,500. HERE IS THE HOME YOU'VE BEEN LOOKING FOR ...on Lewes Beach. Lovely year- round home with 2 BR, 1 BA, LR, eat-in-kitchen and family room, garage. Convenient to all Lewes has to offer and in a short walk to the beach. Being sold furnished and ready to move into or rent. By appointment only and asking $249,900,