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View Diary: How much profit is enough? Holding companies rant. (61 comments)

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  •  An excellent rant (3+ / 0-)
    Recommended by:
    Catte Nappe, Ree Zen, Toon

    and one we should all be ranting about. Local companies owned by people who started businesses get swallowed whole by holding companies. We have in my city a chain of grocery/health food stores that was started and owned by several former heath food store owners. They treated their employees great generous wages, good benefits and a lot of autonomy as far as managing departments etc. They used local farmers and carried locally made products.

    They have expanded recently and opened new stores and while they did not go public, they are now partially owned by an equity company to finance this expansion. It's a huge change for the worse that even as a customer I can see. The employees are not happy with the new policies in place to make more profit for the new 'partners'.

    These stores bill themselves as the 'friendliest store in town' but that will not be the case if they become another Whole Foods or Safeway.  It seems to me that perhaps it's better to be a fish in a smaller pond then lose the qualities that made the business successful and an asset to both their workers and the community. Seems to me that growth has to be something other then profit for companies that simply invest, hold and move on.  

    •  Kinkos (2+ / 0-)
      Recommended by:
      shaharazade, Toon

      I feel a sort of personal attachment in having watched their devolution over the years. My college town in California had one of the first (but not the first) Kinkos. Half of it was more a head shop, with posters, incense, tapes, etc.  Then enventually it went big time, and moved it's HQ to Dallas, where I live now. Then it got swallowed up by FedEx. The founder's story is kind of interesting.

      from a bright young conservative: “I’m watching my first GOP debate…and WE SOUND LIKE CRAZY PEOPLE!!!!”

      by Catte Nappe on Wed Feb 29, 2012 at 01:25:37 PM PST

      [ Parent ]

      •  Comunities and people (1+ / 0-)
        Recommended by:
        Catte Nappe

        globally are just pieces of paper that these large entities eat and swap for investment.They do not care about the businesses or the places that where they are part of the community. We own a business and are trying to build it once again but the business landscape really has no place for small medium home grown companies that are boot strapped.

        Ours is not retail but a business to business service for market research companies. We have so far managed to find a niche with small to medium regional research firms. Were able to tailor our services better then the big number crunchers and data processors. It's a fine line to tread. I really am glad were not competing in the retail world of big boxes.

        Good link, it's interesting to trace back these giants to the originators.


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