Thread regarding Dean Foods Co. layoffs

Former Dean Foods CEO Buying Borden Dairy

https://www.msn.com/en-us/finance/companies/kkr-former-dean-foods-ceo-win-auction-for-borden-dairy/ar-BB15vMBT
Gregg Engle$
Wonder how many millions he'll milk (pun intended) Borden's for before he sells the profitable parts for a big personal bonus, leaves, and puts a successor in place to drive it home to bankruptcy.

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Post ID: @OP+15ttImUy

5 replies (most recent on top)

He won't run the business as CEO but is the chief investor. Expect lots of cost cuts to make large return on investment. He's taking the gamble this time by going full circle back into traditional milk.

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Post ID: @5izp+15ttImUy

Wonder if he'll put in another 12-person group s-x shower next to his office like he had at Dean??

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Post ID: @1eza+15ttImUy

If I remember correctly, the "cost cutting" during his reign also included selling the corporate planes and laying off pilots who were Dean Foods employees. But sale was to one of his cronies and Dean Foods immediately leased the planes back at a greater cost and the pilots were hired as contractors making even more money then they were making as employees.
Trips by upper management to the Hawaii plants for "training" was also big during his reign. They'd take their whole families, spend an hour touring the plant, maybe do an hour training session of some kind, but then never go back to the plant and spend a week or two of living it up on the company dime.

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Post ID: @1bdl+15ttImUy

During his reign I recall an approval for artwork for his office being mis-routed to plant level managers... Tens of thousands of dollars for artwork when the plants were being asked to pinch every penny to cut expenses ahead of the close of the quarter. Definitely showed where corporate priorities were.

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Post ID: @1kfj+15ttImUy

This guy is a criminal, he should be in prison. He used deans/suiza as a personal slush fund for years, dumping all the profitable business to temporarily make huge profits to steal. He's been caught colluding with dfa on milk prices. With a track record like his who would allow him to run another dairy company?

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Post ID: @1vie+15ttImUy

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