Who is Jim Hoyt, and what was his relationship to Lance?

Jim Hoyt owned the local bike shop, and Lance got his very first bike from Jim's shop when he was seven years-old. The two became good friends, with Jim serving as a mentor for the young athlete. Later, however, Jim saw Lance getting into fights and engaging in reckless behavior, after which, he took away both Lance's bike and car. Years went by before the two reconciled.