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Why would the owner be to blame?It would be interesting to know what drove them out of Connecticut, and whether blame should point to Freedom Group management and its private-equity owner or to the state's tax, regulatory and union environment for making it so difficult for them to stay.
Well they are owned by Remington. Which is owned by Cerberus. Remington acquired H&R and moved manufacturing down south. I expect the same for Marlin.
Maybe someday the government will realize there's a stong correlation between higher taxes, unionization, and federal mandates on employers, AND the movement of jobs overseas.
Jose, as a banker for over 30 years and a leveraged buyout specialist for many of them, I have seen all too often incidents where the financial wizards in the private equity groups make awful, counterproductive management decisions based on what some Excel spreadsheets tell them. I have made or managed loans that lost many $millions because the LBO guys were bad managers. It takes insight and wisdom to recognize the value of a skilled workforce that cares about the heritage of their company, and to motivate and reward them appropriately. All too often the MBA-weenies look at $/hour cost without appreciating the higher value of output/hour of a committed, high-quality team.
In fact, in my hierarchy of stupidity, finance MBAs rank a close second to government at the top of the org chart.
Cerberus's track record as strategic or operational owners is not good.
Wait till Obamacare kicks in. We`ll be exporting more jobs than goods.
Jose, as a banker for over 30 years and a leveraged buyout specialist for many of them, I have seen all too often incidents where the financial wizards in the private equity groups make awful, counterproductive management decisions based on what some Excel spreadsheets tell them. I have made or managed loans that lost many $millions because the LBO guys were bad managers. It takes insight and wisdom to recognize the value of a skilled workforce that cares about the heritage of their company, and to motivate and reward them appropriately. All too often the MBA-weenies look at $/hour cost without appreciating the higher value of output/hour of a committed, high-quality team.
In fact, in my hierarchy of stupidity, finance MBAs rank a close second to government at the top of the org chart.
Cerberus's track record as strategic or operational owners is not good.
But don't forget...Obama has declared that we're going to double our exports.
The clueless S.O.B. apparently believes that if you 'wish it', it will come true. What in God's name does he think he can do to make other countries buy twice their current level of U.S. goods?
Continue to crash the dollar until our products are dirt-cheap for foreign countries to import, maybe?But don't forget...Obama has declared that we're going to double our exports.
The clueless S.O.B. apparently believes that if you 'wish it', it will come true. What in God's name does he think he can do to make other countries buy twice their current level of U.S. goods?
I work in software and have managed many large projects. I've seen the results of the MBAs deciding to offshore development and it's the same sort of calculus and the same results. They see they can get four developers there for the cost of one here. After a year or so, it's realized that one here is worth more than four there.
Holy Necro Batman
Holy Necro Batman
No kidding, especially considering who had written the last post before this update.