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Old 01-21-2020, 05:30 PM   #1
Tony Pic
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Default Cabelas/Bass Pro merger...interesting.

I saw this Youtube vid and had no idea how Cabelas was coerced to sell and the guy who was forcing them to sell( owned 11% of the stock) cashed out after they sold and killed the town of Sidney, Nebraska and 2000 jobs. It sounds like a modern-day Gordon Gekko move.
The reporter talks about banning this type of "Vulture capitalism". I am not for more Gov't. But, did this hedge fund guy( Singer) find a loophole in the system or is this kind of thing legit?
Something about this smells.
It is hard not to feel bad for workers who get eaten up like this.

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Old 01-21-2020, 06:13 PM   #2
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I think, Tucker Carlson did a story on this...…………..
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Old 01-21-2020, 07:16 PM   #3
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I think, Tucker Carlson did a story on this...…………..
I know he did, I saw it.
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Old 01-21-2020, 09:21 PM   #4
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I know he did, I saw it.
I did too and the small town was devastated and as a result a lot of people lost their homes.

Sent from my VS987 using Tapatalk
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Old 01-21-2020, 09:32 PM   #5
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And both stores suck now........
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Old 01-21-2020, 09:58 PM   #6
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The story is bigger than what that guy said. I know the Morris family well and heard it from Johnny Morris himself before the buy out or hostile takeover. I know exactly why it happened and I will tell you I have great respect for what they did and how they did it.

I won't expound further but johnny is as good as gold. Absurdly great guy that spends millions back into hunting and fishing that virtually NO ONE knows about because he wants it that way.
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Old 01-21-2020, 10:01 PM   #7
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The story is bigger than what that guy said. I know the Morris family well and heard it from Johnny Morris himself before the buy out or hostile takeover. I know exactly why it happened and I will tell you I have great respect for what they did and how they did it.

I won't expound further but johnny is as good as gold. Absurdly great guy that spends millions back into hunting and fishing that virtually NO ONE knows about because he wants it that way.
I don't doubt any of that but any chance the stores get better or at least back to what they were or has that ship sailed?
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Old 01-21-2020, 10:03 PM   #8
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Yes it was an activist investor who pushed for the sale then got out when the dollar amount was agreed to:

https://www.omaha.com/money/after-ca...dccc2f5c0.html
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Old 01-21-2020, 10:46 PM   #9
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This happens far more that most people know to far more big US owned corporations.

Company I work for is going thru their second round of “activist investor” intrusion in less than 5 years. Last time, we sold off about $17B of assets/subsidiaries.
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Old 01-21-2020, 10:59 PM   #10
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I don't like it that an investor forced the sale but Cabela's was a private company. If government intruded on these transactions, the equity markets for private companies woud severely constrict. It would all but kill the private equity market. There's always repercussions when transactions are restricted. Some are good, some are bad.
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Old 01-22-2020, 05:15 AM   #11
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Have only stepped foot in their once since the buy out. Bass Pro always sucked and they drug cabelas to their level which stinks
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Old 01-22-2020, 05:48 AM   #12
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^^^

I miss cabelas
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Old 01-22-2020, 05:54 AM   #13
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and they still suck!
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Old 01-22-2020, 06:37 AM   #14
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Have only stepped foot in their once since the buy out. Bass Pro always sucked and they drug cabelas to their level which stinks
That's what I was about to type.
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Old 01-22-2020, 06:58 AM   #15
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Sad to hear they got bit by vulture capitalism.....


When I was heavily into bass, crappie and well, all types of fishing when I still had my bass boat, Bass Pro was king....Cabelas sucked. It could not compete selection wise. I rarely went into the Cabelas fishing lure selection when in the store. Hunting wise, Cabelas had the nod. Now, I couldn't tell you what is better as I'd rather just buy it from Amazon with prime shipping or go into CCR for archery.
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Old 01-22-2020, 07:10 AM   #16
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The Cabelas in TX that I have visited do suck. But the Cabelas further up north still seem to have good stuff in them. That said, I don't buy a lot that comes from Cabelas these days. Too many good products out there that don't get sold at big box stores.

I didn't watch the whole video, but we had something similar happen to our company. we have been bought out twice now, and while it is REALLY good for the top level (C-suite team made out like bandits) most of us down the chain got almost no benefit, and more responsibilities. Like reporting to others. Worse yet, they wanted to give us "theoretical dollars" as an incentive to sign a trailing non-compete.
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Old 01-22-2020, 09:06 AM   #17
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Originally Posted by GarGuy View Post
The story is bigger than what that guy said. I know the Morris family well and heard it from Johnny Morris himself before the buy out or hostile takeover. I know exactly why it happened and I will tell you I have great respect for what they did and how they did it.

I won't expound further but johnny is as good as gold. Absurdly great guy that spends millions back into hunting and fishing that virtually NO ONE knows about because he wants it that way.
As someone who worked for Cabela's corporate at the time I 100% disagree with you. Johnny is a good guy but this was not a good take over and they did not take care of anyone except for execs
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Old 01-22-2020, 09:17 AM   #18
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As someone who worked for Cabela's corporate at the time I 100% disagree with you. Johnny is a good guy but this was not a good take over and they did not take care of anyone except for execs
Oh I'm sure the take over and transition were painful. It was a hostile takeover in effect. I'm just saying the real reason it happened are not public. I'm gonna leave it there.
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Old 01-22-2020, 09:19 AM   #19
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Oh I'm sure the take over and transition were painful. It was a hostile takeover in effect. I'm just saying the real reason it happened are not public. I'm gonna leave it there.
That I’ll agree with you on
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Old 01-22-2020, 09:26 AM   #20
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People like paul singer are the reason that the socialist movement even has an ounce of traction. I have my thoughts about fools like him, but I'll refrain from speaking my mind to avoid the cooler

I'm of the opinion that Johnny Morris is probably a good man, who wanted to keep Cabela's open and people employed, while at the same time seeing an opportunity to grow his own company...a win/win if you will. Just my opinion
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Old 01-22-2020, 09:35 AM   #21
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Maybe a dumb a question, but for all you that say the stores suck, what is it that sucks about them? What has changed? I'm not in there enough to know the difference but it seems the same to me. In fairness, I only go there a couple times a year and it's usually just to buy bullets as they are the only ones I know that carry the cheap .22-250 ammo that shoots so well out of my varmint rifle.
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Old 01-22-2020, 09:49 AM   #22
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Cabelas used to have very good quality brand hunting gear, years ago virtually all my hunting gear was cabelas brand. Clothes, packs, boots, socks long underwear, etc......at reasonable prices, now its all high priced items, if they have them at all.
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Old 01-22-2020, 09:52 AM   #23
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Whatever the reasons for it, it made it even worse when BPS ruined Cabela's after the buyout. BPS was/is good for the advertisement-clad bass fishermen. But it has never had anything of even decent quality for hunting and camping and most everything else outdoors other than bass fishing. Cabela's did, up until BPS ruined it. I don't know whose idea that was, but it was a bad one.
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Old 01-22-2020, 09:57 AM   #24
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I personally hope they both survive. I had stopped shopping at BPS over their support for Bank of America, but they switched to Citi Bank so I do patronize them some. Always preferred Cabela's after Cabela's got going good. I don't shop in either place very much anymore as most of what I need/needed, I now have. But I've not had much negative experience in either store other than the standard 30 cash registers and only one, maybe two open so lines form... When that happens, I just put my stuff down and walk out. What is it that just "sucks" about them? I find both pretty well stocked, clean and inside help is acceptable. I NEVER ask for technical assistance however as I know better, no different than any other major chain store... But their staff seems to know where things are, and eager to help where they can...
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Old 01-22-2020, 10:14 AM   #25
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Originally Posted by tmurray View Post
Maybe a dumb a question, but for all you that say the stores suck, what is it that sucks about them? What has changed? I'm not in there enough to know the difference but it seems the same to me. In fairness, I only go there a couple times a year and it's usually just to buy bullets as they are the only ones I know that carry the cheap .22-250 ammo that shoots so well out of my varmint rifle.
Couple of examples from my last couple of trips. Last spring it was time for a new turkey vest. They did not have ONE single turkey vest in the entire store....

I went the other day to purchase shotgun shells. They had ONE box of #8 shot in the entire store. Was also looking for some brush pants. They had shelves and shelves of them(surprisingly) but only like 3 different sizes lol.

And like Slick said, don't even attempt to ask for help.

I might go in the store near me once a year or so these days when I have a gift card.

Just my experience as of late
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Old 01-22-2020, 10:59 AM   #26
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Originally Posted by tmurray View Post
Maybe a dumb a question, but for all you that say the stores suck, what is it that sucks about them? What has changed? I'm not in there enough to know the difference but it seems the same to me. In fairness, I only go there a couple times a year and it's usually just to buy bullets as they are the only ones I know that carry the cheap .22-250 ammo that shoots so well out of my varmint rifle.
This:

Quote:
Originally Posted by friscopaint View Post
Cabelas used to have very good quality brand hunting gear, years ago virtually all my hunting gear was cabelas brand. Clothes, packs, boots, socks long underwear, etc......at reasonable prices, now its all high priced items, if they have them at all.
Also, the stores up north used to have really good restaurants in them. And the bargain cave was a real bargain. I got Muck Boots one year for $25, originally over $100. And no, they didn't leak.
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Old 01-22-2020, 11:04 AM   #27
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Originally Posted by tmurray View Post
Maybe a dumb a question, but for all you that say the stores suck, what is it that sucks about them? What has changed? I'm not in there enough to know the difference but it seems the same to me. In fairness, I only go there a couple times a year and it's usually just to buy bullets as they are the only ones I know that carry the cheap .22-250 ammo that shoots so well out of my varmint rifle.
The Cabelas in Buda has gone way down hill. Probably half in there now from what they used to carry and half of that is Bass Pro branded stuff.
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Old 01-22-2020, 11:04 AM   #28
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Originally Posted by tmurray View Post
Maybe a dumb a question, but for all you that say the stores suck, what is it that sucks about them? What has changed? I'm not in there enough to know the difference but it seems the same to me. In fairness, I only go there a couple times a year and it's usually just to buy bullets as they are the only ones I know that carry the cheap .22-250 ammo that shoots so well out of my varmint rifle.


On the fishing side, back when Cabelas first came to DFW, a big part of its bait selection was what they use up north. A lot of yankee pike, walleye, musky type stuff with some bass/crappie/striper gear. That’s why I thought it sucked. Bass Pro was an incredible selection for local fisheries, all most of the better known brands with a huge selection of colors...... same with reels, rods and accessories .
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Old 01-22-2020, 11:17 AM   #29
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Default Cabelas/Bass Pro merger...interesting.

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On the fishing side, back when Cabelas first came to DFW, a big part of its bait selection was what they use up north. A lot of yankee pike, walleye, musky type stuff with some bass/crappie/striper gear. That’s why I thought it sucked. Bass Pro was an incredible selection for local fisheries, all most of the better known brands with a huge selection of colors...... same with reels, rods and accessories .


Never mind... you asked what changed. I was just answering why I said they sucked in the first place
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Old 01-22-2020, 11:30 AM   #30
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Originally Posted by Smart View Post
On the fishing side, back when Cabelas first came to DFW, a big part of its bait selection was what they use up north. A lot of yankee pike, walleye, musky type stuff with some bass/crappie/striper gear. That’s why I thought it sucked. Bass Pro was an incredible selection for local fisheries, all most of the better known brands with a huge selection of colors...... same with reels, rods and accessories .
I did pretty much the same as you. Cabelas for hunting gear and Bass Pro for fishing. To me Bass pro couldn't hold a candle to Cabelas in hunting clothes and gear but they had a great fishing selection.
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Old 01-22-2020, 12:56 PM   #31
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Originally Posted by WItoTX View Post
This:



Also, the stores up north used to have really good restaurants in them. And the bargain cave was a real bargain. I got Muck Boots one year for $25, originally over $100. And no, they didn't leak.
Same here on bargain cave. My fire station is 15 minutes away from FW one and I stopped by regularly to go through bargain cave and got some great deals. Never go in now since they got rid of it, that and when I have gone in for items they haven't had them, duck season and no Marsh Mat for blind.

Can't wait for April to see what the new Scheel's is all about
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Old 01-22-2020, 01:32 PM   #32
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Cabelas is just a tourist attraction now. No bargin cave, and more cabelas branded junk clothing than anything. You can find better deals for the same items at academy or online.
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Old 01-22-2020, 02:00 PM   #33
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It's what hedge funds do, investors make piles of money and they move on. If someone else had thought it could be bought and make money they would have. Cabelas was on a trajectory to failure and this may have just expedited it. Not sure why they strayed away from catalog sales, it's what made them, and now with the power of the internet they would be massive and cranking along.....same thing with Gander Mountain, were great with catalog sales, failed miserably at retail stores. Many yrs ago I had boots shipped to me from cabelas to a hunt in Iowa and a pack delivered to a hunt in Utah, I had their phone number memorized !!
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Old 01-22-2020, 09:19 PM   #34
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Cabelas is just a tourist attraction now. No bargin cave, and more cabelas branded junk clothing than anything. You can find better deals for the same items at academy or online.
I was in one today and was blown by the fact all the clothing is branded Red Head. That is sad as that brand if pure junk. Cabela’s used to have a better quality in their clothing line, hence, why I would order from them.
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Old 01-22-2020, 10:00 PM   #35
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Originally Posted by friscopaint View Post
It's what hedge funds do, investors make piles of money and they move on. If someone else had thought it could be bought and make money they would have. Cabelas was on a trajectory to failure and this may have just expedited it. Not sure why they strayed away from catalog sales, it's what made them, and now with the power of the internet they would be massive and cranking along.....same thing with Gander Mountain, were great with catalog sales, failed miserably at retail stores. Many yrs ago I had boots shipped to me from cabelas to a hunt in Iowa and a pack delivered to a hunt in Utah, I had their phone number memorized !!
Trajectory of failure???? 4 billion in sales with 1 billion in profit before being acquired. Not sure if that is what I would call a trajectory of failure.
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Old 01-22-2020, 10:29 PM   #36
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I did pretty much the same as you. Cabelas for hunting gear and Bass Pro for fishing. To me Bass pro couldn't hold a candle to Cabelas in hunting clothes and gear but they had a great fishing selection.
Yup and now they both suck for both.

Gary
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Old 01-23-2020, 08:55 AM   #37
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Trajectory of failure???? 4 billion in sales with 1 billion in profit before being acquired. Not sure if that is what I would call a trajectory of failure.
Holy crap. You saying they are netting 25 percent? Where did you find those numbers?
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Old 01-23-2020, 11:57 AM   #38
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They don't have a bargain cave anymore F....that.
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Old 01-23-2020, 12:04 PM   #39
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The new Scheels store in The Colony should give BassPro some good competition. Heard good things about Scheels and ordered from them online a few times. Still being built but it's huge. Be nice to have some variety in DFW.
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Old 01-23-2020, 12:19 PM   #40
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Holy crap. You saying they are netting 25 percent? Where did you find those numbers?



I think that was mentioned in the video..
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Old 01-23-2020, 12:20 PM   #41
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Cabelas should've kept to catalogs and online sales. You can't compete nowadays if you put the masses through unspeakable torture of actually going to a store, especially if the products are more expensive. I remember the big book with all kinds of good stuff in it. Now you can order the same old junk online and never even get dressed! Went to the League City location. What a joke. Might as well go to Academy, they still have a great return policy.
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