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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? |
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.
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Originally Posted by AlwaysQuilting
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.
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Originally Posted by glenda5253
Originally Posted by AlwaysQuilting
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.
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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.
Originally Posted by Momma_K
(Post 2100785)
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. |
Maybe it will be a good thing and the quality of the products they sell will improve without a huge price jump.
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Originally Posted by mmlctnp
(Post 2107933)
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.
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This thread is 3 years old...
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Originally Posted by gale
(Post 6491469)
This thread is 3 years old...
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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.
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