Hiring former contractors

What would be your take on hiring former contractors, and in some cases former competitors? Too much distrust, overqualified concerns, ?????????

It's been my experience in life that once someone is their own "boss" it's impossible for them to put the harness back on and work for someone else. Rest assured he will always be planning his "comeback" with his own company and crew. It could be yours.........JMO ;) ;)

JET