He knows he has to pay out severance to every one he lays off...so he calls on ex Cabela's execs to contribute out of their own pocket to the severance fund. Very slick! So if you don't get a good payout blame the Cabela's management team.
He shifts the focus away from himself and makes the ex-Cabela's team look like the bad guys. Too funny.
The ex Cabela's E team are going to be REALLY hard to raise on their cell phone until this blows over.
You have to actually know what diversity is and what it means to make it work. The people in charge of that token department have barely been outside of Sidney. Just like the "Circles of Excelence" director position that was made up. Good luck in Springfield...you may have to really work and won't have family protection like they did in Sidney
the diversity and inclusion initiative at cabelas was a total bust.
As for the comment: I used to travel with these guys and they were too cheap to buy lunch....it ain't gonna happen.
"These guys" are also lousy tippers and a bit confused to whose paying come time to divy up. If that's a sign of whats to come, Sidney is in for a very generic ride. The only thing you will be able to guarantee to be real will be the tumbleweeds and the overpopulation of Law enforcement
I'm sure Dennis is already writing the checks. To his sons-son-in-laws-daughters-daughter-in--law. Though Sara is safe not they she's VP of BP Human Resources. Heard this was due to BP needing some diversity in their management team
BTW, there's been no news as to how much the old E-team has throw in the kitty so far. Maybe the checks are in the mail.
So let me get this straight.
The board didn't do their job
The E team didn't do their job
But everyone on both teams got wildly rich!
Sounds like they did what they wanted to do all along.
Only the employees wanted Cabela's to go along as before.
The family was so embarrassed they each cashed checks for $800 million. Geez I wish I was that embarrassed!
The board did nothing on many levels and the family was embarrassed by the terrible leadership and state of the business and leadership - to sell was a given. And that is a fact
If the board of directors didn't like his performance they could have fired him. That;s a fact
Pooooor Tommy, just a puppet - hmmmmm. Just like at the other companies he sold out on. And the board expected the store to look like total crap - pooor Tommy and his crew of puppets, geee they were just doing what they were told. What a joke. Unbelievable
" true hero would have developed and lead the company to ongoing and consistent success that would have sustained the employees and families " Sorry that is not the job of a CEO. The CEO is hired by the board of directors. The board was dominated by the Cabela's family. THEY give the CEO direction when he's hired. If he doesn't perform, it is the responsibility of the board to replace him. They clearly liked what they saw and kept the CEO. The board wanted the company liquidated for the highest price. The CEO didn't run the company into the ground he liquidated it (with the approval of the board). In the end the board got what they wanted and they rewarded the E team. Now Johnny is show-boating and saying that the E team should help pay severance. Total cop-out. If Johnny want the laid off employees to be treated well, why doesn't he pay them out of his own pocket.
I do have to laugh when I read responses such as the, “they earned it”! It is this sense of entitlement that is so disgusting when viewed realistically with the true facts - the leadership that was rewarded were the ones that ran the company in the ground. Amazing, despite total incompetence they are looked upon as hero’s to those obsessed with money. A bunch of bafoons who sold a business that was headed in thetoilrt, period. A true hero would have developed and lead the company to ongoing and consistent success that would have sustained the employees and families that made it all work. It is exceptionally powerful that Johnny Morris went beyond basic business sense according to some yet he has shown tremendous leadership and honesty in his plea. Anyone with any amount of business experience and sense realizes that there will be a very strong adjustment at the Sidney location - and it, unfortunately is going to affect a lot of great families. It will appear to be brutal yet he could have approached this in a much more brutal way. He has simply approached a decision that is inevitable in a truly out of the box way. He knows why the company was sold better than most as he was a true competitor of the Cabelas family and company keenly aware of the business and the opportunity. He has shown his true leadership via this call out and has simply approached the impending decisions that must be made by asking for a partnership in assisting those that will and have been affected by the sale. Did Tommy reach out in such a way, absolutely not. I take my hat off to Johnny in how he has handled this buy out. Will Bass Pro be able to continue growing and building - it will be very, very difficult with the amount of debt he has taken on - that he is handling this in as respectful of a way as he has is truly amazing and well above the mentality of 98% of potential owners would have done. So many of us know this in reference to how tommy ran the show during his time.
Yes, They earned it! They got top dollar for the shareholders. And most of Cabela's employees were shareholders. Let's face it. The company has been sliding for years. Management knew it and got the most for the owners. Now the biggest shareholders are richer that they could ever have imagined. Mission accomplished.
Did I seriously see a post that says the execs “earned those bonuses”. Haahaaa they padded their pockets and voted themselves these parachutes and then ran the company into the ground to “facilitate” the company’s demise and ultimate sale, resulting in the opening of their golden parachutes.
They need to wake up and help us that are still flying the company but have no parachutes.
Layoffs will happen. Johnny’s letter was vague with dates, but detailed how Sidney corporate will look at some point in the future. Thanks
The lay offs are rumors. nothing has happened?
The source is Bass Pro.
http://www.omaha.com/money/bass-pro-ceo-challenges-former-cabela-s-execs-to-give/article_b8fb0fcc-871a-505e-922c-d040bf4c61d8.html
That's a nice thought, but I won't be buying because I can get better product at a lower price, with better customer service elsewhere...which helps MY family.
And With all this praise of JM and his good intentions, he shouldn't blame the former cabelas execs when no cash shows up, right. If he gets some extra cash, great, but it's his company now and shame on him if he wasn't prepared for this.
Good intentions or not, with all the lying and lack of communication by cabelas for 3 years and now the people get 1 vague letter with no dates or difined action plans, its natural not to believe ANY good intentions at this point.
What is the source of this rumor? How do we know that JM has called on ex Cabela's execs to contribute out of their own pocket to the severance fund?
PR move? I disagree. this guy is trying to raise more money to enlarge a severance package... what part of that is about PR?
He’s calling on the ones who profited most, and then matching it!
They are going to need to donate some part of those hundreds of millions to some charity......so they might as well donate some to this cause. I don’t know what could be a more important cause.
I can understand the anger, bitterness and frustration but by refusing to buy anything ever again from Cabela's or Bass Pro you'll be hurting those who were fortunate to keep their jobs more than you'll be hurting Johnny Morris. For some of them it is their only source of income not just a part time job to receive a discount to support your hobby, it supports their family.
Just sayin!
Not going to buy from either - who cares. At least Johnny has the balls to look at this in a creative way
Did I miss something?
Is the plan to eliminate all Sidney jobs except for Accounting, IT support, DC and a few HR? Everything else is gone?
You will be one of the few to buy from BP going forward. Pretty sure both companies left such a trail that 95% of former or current employees wont buy from them. I know I wont be.
Retail is dying anyway. You can get any item they sell via Amazon and its cheaper.
I agree with the poster earlier as BP should have thought of all this when all the promises were made. Its your problem now.
I agree this is just a PR move on Johnny.
No word from Mary or Jim? Are they going to pony up some cash? LOL
The executives and large, local former shareholders are laughing all the way to the bank. They owe nothing to Morris or their former employees. Ain't going to happen. This is just a PR gimmick by JM and the "new" CFO to put them in a different light--and it's working. By the posts, look how many of you are biting off on this! If the former executives and local large stockholders were "so concerned" about Sidney and their employees, they wouldn't have screwed the company into the ground! I'll eat "crow" if it actually happens. (Let's just say a few shots of Old Crow!)
No. Those Execs did not earn the windfall. They brought down a great company via totally incompetent leadership and terrible decisions and added to that, a viewpoint of payout instead of long term viability and growth. They earned, it should make anyone who knows what really happened sick. They destroyed and sold out and then ran. I truly commend Johnny on this. We will see who the real men are in this deal. I doubt anyone will step up. I will be buying from Bass Pro going forward
The execs earned those bonuses. This is business, people. Johnny Morris is out of line asking them for cash.
I was in the first round of layoffs. We were given 18 weeks of severence and told that the company fully intended to enforce the 18 months (or longer) non compete clause of our employment agreement. Careers were destroyed, lives were destroyed. My wife and I left town in order to find treatment for a pre-existing medical condition. We are homeless now, though we continue to pay the mortgage on an abandoned home in Sidney. Our savings are gone, our hope for a retirement gone. But still we honor our obligations. If the execs have any sort of a conscience, they will put together a fund to buy out the mortgages of the families in similar circumstances. Buy the properties and then offer them at cost to any companies thinking of relocating to Sidney. It could be a public relations boon for BPS and the city. We believed in Cabela’s when we brought our families to Sidney but then Cabela’s abandoned us.
Now is the time to make it right.
L O a week from today 1/17 😭
Dennis will come to the plate first..... bet on it.
They won’t pay. No way. Cold day.
Above and beyond by Johnny. What is funny is that Tommy nor Dennis nor any of the other executives brought this up! That is an exceptional statement and act of kindness that he absolutely does not have to do
Hey it’s January....there’s going to be layoffs and not just in Sidney, NE. When Macy’s and target and all these other retail companies that are cutting back decide to shutter stores and lay off people...do you think they care enough to try to build more of a severance fund? I’ve not heard of it very often, if ever.
This clearly isn’t money for Mr. Morris it’s meant for Sidney folks. it’s obvious that he cares about this community and it’s people.... and apparently much more so than others.
Don’t forget that Mr. Morris is putting in an extra 10 million above and beyond what is standard. And I think he’s got every right to ask those who profited so incredibly and who live in Sidney with millions.....hundreds of millions.... to help out those that worked to get them there. Don’t forget Mr. Morris has committed to MATCHING every dollar they commit... and to the folks who think that he should’ve known what he was getting into... he sure did, and all many ruthless owners would do to do is pay the minimum typical and reasonable severance.... he’s already gone above and beyond with additional 10m, and he’s asking for some of the big profiteers to go above and beyond to help those folks in Sidney.
Hats off to you Johnny.
Sacrifice? Did the employees get paid for doing their jobs? They mostly got paid more than the corporate average. People rarely worked overtime and never did ANY market and customer research and it showed. I saw ALOT of people leave at 2 or 3 every Friday. I would say that "sacrifice" is a horrible word choice.
I am not a fan of the Cabelas execs but trying to get them to pay, feel guilty, and take the heat for the lack of severance is a hack move. It's not their fault if BP isn't prepared for what they plan to do.
BP bought the company, now deal with it.
sacrifice, that's funny.
Outstanding reach out by Johnny. What he is asking is beyond simple business, he is asking those that profited immensely to help. I commend him on it and time will tell who really believes in Sidney and everyone who sacrificed to make the company a success over the years. I truly respect Johnnies request of stepping up to the plate - truly awesome!
I used to travel with these guys and they were too cheap to buy lunch....it ain't gonna happen.