Current news has an investment group taking a n 11% position in the company. They are talking about everything from restructuring to an outright sale of the company.
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"I believe he and his people drove this company into the ground on purpose and with the blessing of the Cabela family, because no one could be this incompetent and remain in charge as long as they have. They will all walk away from this company extremely rich and the employees will have paid the price."
A little foreshadowing?...now looks like more truth than fiction ("blessing of the Cabela family").
Sidney is in for a shock when another company announces that they are closing down next year and almost 200 people with be out of jobs.
Theres no way the bank will be sold, it's carrying the company. Retail hasn't made money in over two years. Unless a company is will ing to cherry pick the bank and then casts off retail and internet operations to a discounter.
They say the Bank may get sold. Good, none of the money the stores get from the bank adds payroll like they claim, or they wouldn't be sending people home. Senior Managers Frothing at the mouth trying to see who they can cut. But will any of them jump on a register, nope.
I wouldn't believe a word Corporate would say. The Outfitters are losing money being sent home all the time, but the Fat Cats lose ZIPPO. New Outfitters that just got hired are wondering why they came here. Getting sent home like this. Tommy, are you going to cut your salary some to help out? Probably not.
Corporate says that we have nothing to worry about. This sort of thing happens all of the time.
There are a number of possible outcomes for Cabelas at this point. From articles I have read, none of these posibilities result in positive results for the average employees. Many of us saw this coming from the first months of the Millner regime. I believe he and his people drove this company into the ground on purpose and with the blessing of the Cabela family, because no one could be this incompetent and remain in charge as long as they have. They will all walk away from this company extremely rich and the employees will have paid the price.
Good ole Tommy ran Remington until a private equity group took over, is there a pattern here?
We can only imagine what kind of job cuts and store changes a private equity group would push for.