We're a relic of old times and there's nothing that can be done to change that. Anybody who believes Follett will still be standing ten or even five years from now is missing the huge writing on the wall. If you have an opportunity to leave, I'd jump on it if I were you. There's not that much time left here.
13 replies (most recent on top)
KEY TAKEAWAYS
Private equity firms buy companies and overhaul them to earn a profit when the business is sold again.
Capital for the acquisitions comes from outside investors in the private equity funds the firms establish and manage, usually supplemented by debt.
The private equity industry has grown rapidly; it tends to be most popular when stock prices are high and interest rates low.
An acquisition by private equity can make a company more competitive or saddle it with unsustainable debt, depending on the private equity firm's skills and objectives. How Private Equity Creates Value
By the time a private equity firm acquires a company, it will already have a plan in place to increase the investment's worth. That could include dramatic cost cuts or a restructuring, steps the company's incumbent management may have been reluctant to take. Private equity owners with a limited time to add value before exiting an investment have more of an incentive to make major changes.
The private equity firm may also have special expertise the company's prior management lacked. It may help the company develop an e-commerce strategy, adopt new technology, or enter additional markets. A private-equity firm acquiring a company may bring in its own management team to pursue such initiatives or retain prior managers to execute an agreed-upon plan.
The acquired company can make operational and financial changes without the pressure of having to meet analysts' earnings estimates or to please its public shareholders every quarter. Ownership by private equity may allow management to take a longer-term view, unless that conflicts with the new owners' goal of making the biggest possible return on investment.
Post ID: @1suh+1mm5u5qe
Thanks JRC. You will cut the stores staff to be bone, YOUR profit centers, where YOU make money but keep hiring at the Ivory Tower. Then you blame the stores when sales tank. Lazy workers!
Why not cut the staff at home office first.
Keep making fun of the kids whose achievement of a lifetime may be their college graduation whilst you smirk at the Ivory tower.
What a bunch of low-lives.
@jqw+1mm5u5qe -
Dude - Put down the thesaurus and back away. Eschew obfuscation.
"Their dreams are nugatory to you.
Have you not seen the kids and their families taking pictures in the caps and gowns around your campus?
How quotidian for you but memories of a lifetime for many of the students."
All these posts talk about JRC greed and yes, I agree to a point. But no one mentions the campus greed. How much of product margin are they taking? How many people would still be employed if the campuses didn’t take most of the margin?
Definitely. I agree. There’s no future. We’re better off leaving. This company is horrible.
There cannot be greed in this business. Industry standards on margins will make money when you manage the middle. There is money to be made in the small stores but you can't expect 20% on half a million in sales. Digital and Access are a good option for book but that option to make them rental would work as well. Bookstores don't run like a CVS or Marshalls..they are special and if you manage them like a bookstore then it works.
@wmz+1mm5u5qe:
Some (or, likely, most) colleges require regalia to participate in Commencement. You're really saying it's no big deal if the bookstore screws over students and they literally can't participate in the most important ceremony of their 4 years? You really don't see the problem there? Jfc. No wonder this company is so screwed, if this is the attitude of people in HO.
Post ID: @vrg+1mm5u5qe
You missed the point. You still can celebrate your achievement and take pictures with your family without a cheap (yet very expensive) polyester gown. But get ready for phone calls from parents acting like you. Don’t worry, they won’t blame JRC. They will just blame their local bookstore employees!
Post ID: @jqw+1mm5u5qe - thanks! Maybe a lifetime ambition - first in the family.
So kids got screwed over to celebrate their years of hard work due to the Covid. You should not care if more kids are screwed over because of JRC's greed?
Their dreams are nugatory to you.
Have you not seen the kids and their families taking pictures in the caps and gowns around your campus?
How quotidian for you but memories of a lifetime for many of the students.
Although I agree it’s wrong to do this at graduation, I don’t think we should say not having the exact regalia you need will “ruin” graduation. It’s just a gown. You’re celebrating an achievement that completed. JRC sucks but cmon. During Covid I had so many parents yelling and somehow blaming the bookstore for a cancelled ceremony. I mean cmon… the drama of some of our customers is a little much.
Wow! You can remember something verbatim from ten years ago! That is an amazing memory!
If JRC ruins one kid's graduation because of their greed they deserve to fail.
Funny - that's almost verbatim what I read on this site a decade ago.
You might be right eventually if you keep saying it.