Anyone who thinks that a sale to BP is bad should watch this.
This is how bad things get if the deal doesn't go through. It could be fatal for Cabela's
https://www.yahoo.com/finance/video/failed-walgreens-merger-sends-rite-130500575.html
8 replies (most recent on top)
It's about to get crazy. I would advise to uproot and move. Especially those that are young and can easily start a new chapter of your life. Even if BP merge goes thru, it will be such a bumpy road for you, and then in the end, only about 20% will continue employment with BP. Pick up and move on. Grass often times is greener on the other side. If you have been miserable with the unknown of Cabela's future, the uncertainty won't be resolved for another couple of years. Don't put yourself and your family through it, it isn't worth it. I got out, moved, found a different job in a different field. My marriage, kids, and the dynamics of my family and household has improved a great deal.
Agreed. And it's worth repeating. The family sold out when they went public. They maximized their profit, which is fine. But you can't have your cake and eat it too.
So they got their money, but it means bye bye to Cabela's and Sidney
The last comment is exactly why retailers, especially successful ones should not go public - shareholders don't give a d.... about quality, customer service, anything that relates to why a company like Cabelasrose to the level it did privately. The author is correct, Tommy used every trick in the book to take care of the shareholders by tanking the busineess and selling. The stores are filthy, the product cheap and overpriced, the true retail employees have an attitude like this guy. It all equals to failure of a great retailer.
Tommy did what he was supposed to do! He maximize shareholder value. Grow up, this is business. When you go public you are owned by the shareholders....not the employees.....not the town of Sidney. The private owners sold out when they went public.
The shareholders want the maximum profit and that's what Tommy boy delivered.
Well said. It's not fair and it wont be easy, but this is business. Time to face reality and make plans for how to move through and past this.
The absolute reality - Bass Pro is buying us for efficiency and for the removal of a direct competitor.
If BP was to simply say - business as usual, it would be a very short life with the debt they are taking on for this purchase. They simply cannot double up on all positions - it will all fail. It won't happen overnight although the impact will be brutal to both Sidney and Cabelas employees. We all know why we are in this spot - Tommy and his team ran us in the ground - unfortunately this is a no win crossroads. While leadership has been promoting "do good, Stay focused and you will be part of the new". It is a bold lie. We are all responsible for making a new future - is it what we all worked so hard for - no, absolutely not, yet there are snakes in the grass who rode into town to steal and plunder - short term, they won. Now we must remake our lives beyond this sunk ship. Is it fair or right, absolutely not. It is time to make something better. We have been hoodwinked.
The sale will actually be worse. Within 18 months, major impact and realignment
Unlikely