ANYONE HAS AN IDEA?
10 replies (most recent on top)
I first heard the term when KMart acquired Sears many years ago. With Staples and Essendant, you have the same scenario in play - 2 companies in decline. It's like tying 2 drunks together with the hope they will walk straight - will not happen. Ends badly every time.
does it really matter? Staples is just a shill for SP and 1 of the shells in a game of 3 card monte
pretty sure sp bought essendant with plan to merge
with staples...at least that was the public comment.
sp had the money connections, staples sure doesnt.
Actually, ZhqmyHz-6xxu, Staples did buy Essendant, not SP.
https://www.chicagobusiness.com/consumer-products/staples-buying-essendant
Splitting hairs maybe, but Staples didn't acquire Essendant...Sycamore Parters did
Good thread
Folding Essendant's income into Staple's income could create the illusion that income is still increasing.
I saw this trick a couple of times during the Dot Com bubble. We quietly bought a couple of small companies, added their income to our own, and then next reporting period, we could show an increase in income, even though we were still losing money faster than ever.
I’m not a fan of Staples, but it appears to be a fairly smart business decision.
Well they got along just fine for the last 30 years or so without it so the fact that it hurts WB Mason is the most likely reason. The business philosophy being if you can't help yourself then hurt others. Greed rules, ethics and morality are for losers.
it's some kind of scam, you can be pretty sure of that.