The sad thing is folks that Follett claims it needed to realign it's business interests to help alleviate a $90 million hole created by a bunch of former Sears and 1 Ace dipshits. Now we go off and hire another Chicago (Ace hardware wonder how she got her job) insider to run HR, damn these sh--heads just won't learn. So sorry no money for raises and alot of people don't get a bonus incentive either but hey look we found hundreds of millions with which to make acquisitions that may or may not help the company financially in the long term. Sad thing is if they were to give every single Follett employee a $1000 per year aka $.50 per hour (for a 40 hour worker) raise it would have cost considerably less that $10 million dollars considering most of our people work 15-20 hours a week. The greed astounds me but all we constantly do is praise the board for their generosity and willingness to invest in our future. How about you give up your dividends for 1 year and reinvest that money is your people you silverspoon fed c**ksuckers.
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Follett Suck, Kill Ken
Elvis lives
We'd have extra time to learn that your isn't equal to you're
Castle Harlan, the private equity owner didn't sell Baker & Taylor because it was a cash cow. Why would they? That's the big picture. You think that this insures that you won't be out of a job and on the streets you're only kidding yourself. The family invested $50 million in a building they don't own while laying off associates, eliminating raises and benefits. Not healthy. I wouldn't want to be an employee of B&T. Wait until SS fixes their IT department.
Your all a bunch of morons. If the family didnt make these acquisitions we would all be out of a job and on the streets. What would you be saying of they did nothing and kept an inflated staff with bonuses and raises every year? Think about the big picture for once not just what you didnt get.
Don't kid your self. This purchase is likely 100 million, not 10 million. The interest expense will eat the bottom line.
Order 66 - don't insult Emperor Palpatine that way. The Follett mentality has more in common with Jar Jar Binks than Sith.
I fear it only gets better. First off the acquisition was funded via a bank loan. On top of that, Follett divested itself of BWI -to- Baker and Taylor only to complete a buyout within the same six month timeline. Smells like someone's been cooking the books