Back in December, I found a great attorney, and he suggested setting up a "good cop / bad cop" scenario in which he pushed my partner to dissolve the LLC, and I could come in and offer him a way to get out without losing everything and racking up huge legal bills.
I am happy to say that it worked. Last night I completed the buyout of my rogue partner. I am now partner-free, and have 100% ownership of a thriving business which should now reach its sales goals by the end of May 2007! Morale is through the roof with our employees and our customers, and my pulse rate is back to normal.
My advice is this: NEVER EVER go into business with a partner! EVER! Do not be lured by the apparent benefits of a partner. If the business is meant to be, then you can find some way to do it yourself and hire people to help.
Glad you turned the situation around! Those are great advice for the rest of us. Thanks!