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Cabelas/Bass Pro merger...interesting.

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    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.

    [ame="https://www.youtube.com/watch?v=UatnTSwEUoc"]Hedge fund forced Cabela's merger, decimated jobs in Sidney, Nebraska - YouTube[/ame]

    #2
    I think, Tucker Carlson did a story on this...…………..

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      #3
      Originally posted by sailor View Post
      I think, Tucker Carlson did a story on this...…………..
      I know he did, I saw it.

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        #4
        Originally posted by Jerry H View Post
        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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          #5
          And both stores suck now........

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            #6
            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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              #7
              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.
              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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                #8
                Yes it was an activist investor who pushed for the sale then got out when the dollar amount was agreed to:

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                  #9
                  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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                    #10
                    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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                      #11
                      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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                        #12
                        ^^^^^^^^^^^^^^^^^ this

                        ^^^

                        I miss cabelas

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                          #13
                          and they still suck!

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                            #14
                            Originally posted by 150class View Post
                            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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                              #15
                              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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