Welcome to the Quilting Board!

Already a member? Login above
loginabove
OR
To post questions, help other quilters and reduce advertising (like the one on your left), join our quilting community. It's free!

Page 9 of 12 FirstFirst ... 8 9 10 ... LastLast
Results 81 to 90 of 113

Thread: Jo Ann's buyout?

  1. #81

    Join Date
    Jul 2010
    Location
    Arizona
    Posts
    215
    I'm a Wal-Mart shopper simply because it fits my life style and budget. When people tell me they shop at Dillards or Macy's - I say "good for you". I can't afford them. And I won't shop there just so I can say "I shop at Dillards".
    The same goes for JoAnn's. It's what I can afford and it makes me happy.
    I tried a personal boycot of Wal-Mart a while ago, but soon found I couldn't find the things I need or want anywhere else. Is this because they have inticed all shoppers so that all the other stores have closed up shop?

  2. #82
    Senior Member
    Join Date
    Dec 2010
    Location
    Texas
    Posts
    315
    IMO, inflation has already started. If the U.S. currency is no longer used as the world reserve currency - as the World Bank and United Nations plans to change - it will be the end of "hobby" quilting for most of us retired people on fixed income. For me, it will mean recycling fabric from clothes to sew more clothes. (I can do that!) Sale coupons won't even be an issue. The next 2 years will be interesting and challenging. Hang on for the ride.

  3. #83
    Super Member glenda5253's Avatar
    Join Date
    Sep 2010
    Location
    NE Kansas
    Posts
    1,087
    Quote Originally Posted by AlwaysQuilting
    Quote Originally Posted by akrogirl
    Sorry, but that was not my quote, lol. However, I do agree that we have major, major problems ahead if we don't restore our manufacturing base.
    AMEN!!
    Second that Amen!

  4. #84
    Senior Member kathidahl's Avatar
    Join Date
    Oct 2010
    Location
    Once an Iowan, always an Iowan, but now suburban Chicagoland
    Posts
    412
    Blog Entries
    1
    Quote Originally Posted by glenda5253
    Quote Originally Posted by AlwaysQuilting
    Quote Originally Posted by akrogirl
    Sorry, but that was not my quote, lol. However, I do agree that we have major, major problems ahead if we don't restore our manufacturing base.
    AMEN!!
    Second that Amen!
    And all in chorus respond: AMEN

  5. #85
    Super Member quiltjoey's Avatar
    Join Date
    Sep 2010
    Location
    SC
    Posts
    1,538
    It's called "Corporate Raiding" under the name of buy-out... Their statement, “Our investment philosophy is to target cash flow positive businesses that have the ability to grow by at least 50 percent over a five-year period,” proves it. They are only after the cash... A lot of this went on in the 70s and tons of businesses went belly up or went under poor/strangulating managements. Eastern Airlines was one of the biggest targets. It was sold off bit by bit...

    However, on a positive note, I hope this truly turns out better for everyone, especially employees involved.




    Quote Originally Posted by Momma_K View Post
    I Googled it!

    Shopping’s Buyout Shop of the Moment
    By DEALBOOK
    Retailers have been prominent buyout targets again this year, and one private equity firm has been particularly busy: Leonard Green & Partners.

    Leonard Green’s $1.6 billion deal for Jo-Ann Stores on Thursday follows fast on the heels of the $3 billion deal for J. Crew by the firm and TPG Capital.

    Leonard Green, a Los Angeles-based buyout shop, has been a buyer in 15 transactions so far this year, according to Capital IQ. The J. Crew buyout is its biggest. Earlier in the year, the firm had been linked to speculation swirling around a buyout offer for BJ’s Wholesale Club.

    Leonard Green has a long history in investing in retail and consumer brands. The firm’s namesake founder was one of the pioneers in the buyout business.

    Leonard Green and Edward Gibbons, who were both executives of McDonnell & Company, a brokerage firm, founded Gibbons, Green, van Amerongen, a New York firm that specialized in management-led buyouts, in 1969. Among its deals was the $450 million acquisition of Foodmaker from Ralston Purina in 1985 and the $520 million buyout of Budget Rent-a-Car from Transamerica in 1986.

    Mr. Green left the firm in 1989 to establish his own Los Angeles-based shop, Leonard Green & Partners. The firm has invested in 52 companies with a total value of $44 billion since 1989. Mr. Green, who was also a major patron of opera in Los Angeles, died in 2002 at the age of 68.

    Today, the firm says it has $9 billion in equity capital under management. Its three managing partners, John G. Danhakl, Peter J. Nolan and Jonathan Sokoloff, have worked together since 1986, according to the firm’s Web site.

    Leonard Green says it is able to complete deals of as much as $5 billion in enterprise value but that most transactions will be $500 million to $2 billion.

    “Our investment philosophy is to target cash flow positive businesses that have the ability to grow by at least 50 percent over a five-year period,” it says.

  6. #86
    Super Member
    Join Date
    Nov 2010
    Location
    Mabank, Texas
    Posts
    6,807
    Maybe it will be a good thing and the quality of the products they sell will improve without a huge price jump.
    Fabric is like money, no matter how much you have it's never enough.

  7. #87
    Super Member
    Join Date
    Sep 2010
    Location
    Keller, TX
    Posts
    6,267
    Quote Originally Posted by mmlctnp View Post
    I looked it up. LGP investments own the following: Whole Foods, Petco, Tourneau watches, Sports Authority, Rite Aid, Neman Marcus, Equinox, DelTaco, David's Bridal and The Container Store. Good Grief. They have $9 billion in equity capital.
    These are all excellent brands so hopefully Joanne's will follow.
    Linda

  8. #88
    Super Member gale's Avatar
    Join Date
    Apr 2007
    Location
    North-Central Indiana
    Posts
    3,893
    Blog Entries
    1
    This thread is 3 years old...

  9. #89
    Super Member
    Join Date
    Jul 2010
    Location
    Ohio
    Posts
    1,844
    Quote Originally Posted by gale View Post
    This thread is 3 years old...
    YES this thread is 3YR old! Is this a new rumor?
    "In the crazy quilt of life, I'm glad you are in my block of friends."

  10. #90
    Junior Member
    Join Date
    Sep 2011
    Location
    Upstate NY
    Posts
    258
    I wonder what their purpose is in just buying and buying. More and more of America is owned by huge, impersonal conglomerates. More reasons to support my local quilt store.
    Nancy Lee

Page 9 of 12 FirstFirst ... 8 9 10 ... LastLast

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

SEO by vBSEO ©2011, Crawlability, Inc.