This thread is for info about potential Cabela's layoffs? Any chatter, news or rumors?
8 replies (most recent on top)
Short sighted executives ran that company into the ground. Period.
They gobbled up the money in the short term (think of the g-n bo-m that they failed to account for ending) and collected huge salaries and bonuses (all while rewarding their toadies) and couldn't come up with a coherent long term business plan if it meant the firing squad. Their 'plan' was to open up new, expensive stores and flog the CLUB card to get more people spending. That was it. And it worked for a while. Until it didn't.
Failing public companies attract unwanted attention from activist investors. And that's what happened. So Tommy and the board pulled the cord on their golden parachutes and collected big paychecks from the BPS/COF sale/merger and f***ed off.
Once the company went public, the Cabela's we all grew up with was gone. It then got ran into the ground by money hungry good old boys.
no it was the executives who was respossible for this situation and the guy in wall street had very little to do with what happened.
what a d-mb comment cabelas was not in any kind of trouble before elliott aquired some stock. that is perhaps a comment FROM SOMONE WHO KNOWS NOTHING ABOUT CABELAS AND NOTHING ABOUT INVESTING . ELLIOTT WAS A INVESTMENT CREDIT COMPANY. A COMPANY WHO AQUIRE A PART OF A COMPANY IN TROUBLE. THEN THEY MAKES TO INCREASE THE VALUE OF THE STOCK. ELLIOTT DIDNT CARE ABOUT THE EMPLOYESS THE CUSTOMERS OR THE INVESTORS BUT JUST CARED ABOUT MAKING A PROFIT ON THE STOCK. Cabelas was in a lot of trouble before elliott purchased a lot of stock. it is hard to believe how misinformed some posters on this site is
I know for a fact that tommy miliner bought up the sale to bass pro when Jim cabelas wasnt present because they knew jim would shoot the idea down. Jim cabela and highby is partly to blame for not escorting tommy millner to the door instead of walking out of the meeting. however it was nothing to do with the guy on wall street. Instead tommy millnier and several other directors worked out a deal to get rich and sell out the employees and cusomers for THEIR OWN SELFLISH INTERST.
Some office and management jobs got severance offers today I think.
It was that wall street guy who started the mess. not any executives. We were in trouble when the wall street jerks put a target on our back.
I have heard a rumor around town where i live that tommy milner and the other directors and mainly millner was more concerned with their own interest instead of the employee customers and stock holders interests. How can anyone not believe this. So many lives ruined and Sidney Nebraska destroyed because of Tommy millner
If the weather doesn't change, we will see more layoffs. no jackets or cold weather gear is selling and our ice fishing stuff is dusty. expect to see people gone soon.