If you are talking about sending up a giant warning during an interview, that can send up more of a giant warning about you. When applicants bash previous supervisors, interviewers can easily assume that it is just a matter of time before someone in their company ends up on the bash list. At the same time, you can certainly mention the working relationship with the supervisor, but do so in a businesslike way.
It is more important to focus on your job responsibilities, and be sure to describe specific situations that illustrate how well you were performing and improving during the probationary period. Do not forget to add the owner's positive comments about your attitude and work ethic.
This approach will set the stage for potential employers to understand whatever your former supervisor might say in the event he is contacted. Besides, if you believe that the owner will provide more accurate answers to their questions, most employers could not ask for more.
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