For a company that pulls in billions of dollars in sales how can we be so dumb and not turn a profit. I call shenanigans. I bet the Follets are taking a "salary" from the company still. Get your hands out of the cookie jar!
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Remember, your family and other personal life events first. No more 50/60 hour weeks for Follett.
If its the revenue sharing, what dummy signed that contract?
You're looking in the wrong places. Here's a hint. Look at the revenue sharing agreements with the schools. There you will find answers.
Management fees, required leases (that may or may not be at market value), a good business becomes unstable. What would they say at Trump University? I think bankruptcy and dismantling happens and the next and final steps.
The family gets it's due. We've complained for years at FES about having to lease the offices and warehouse from a Follet-family owned entity. Even if we lose money they make money.
That is the interesting thing. If you watch the town hall you will see that Follett is very close to plan on net income and margin. We are talking many millions of dollars, way up over last year. Why does leadership think they should TAKE AWAY benefits just because of this minor variance. Just because you miss plan means you don't get a performance bonus. It should not mean that you lose the rest of your benefits. I disagree with Gordon Gekko, greed is not good.