Sale is approved. Now what? New CEO coming. New ELT? Layoffs?
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Nailed it. And more layoffs with lost business.
LOL. Engles has set up each plant to operate as it's own LLC. That'll make it easier to sell plants and other assets one by one. I'm sure he's already got a $ figure in mind and once that'sh– he'll parachute out and leave someone else to deal with the mess and another bankruptcy.
Or, instead of acquiring new businesses, just dramatically cut costs and then sell to Prairie once you generate cash flow. Can't hold for too long because traditional milk is still declining over 2% per year.
Gregg Engels is a p.o.s as a ceo. He grows his companies through acquisitions then sells off the profitable pieces till he milks it for everything its worth, then bails and leaves the clean-up for someone else. Borden will seem to grow in the next few years. Then he'll bail.
Lots of corporate layoffs. Sad that the total build up of corporate processes led to Borden's demise. The innovation failed and hopefully now we get back to serving customers.
Who for lay-off?
Yes. Yes.