Some damage cannot be repaired. Eliminate your number one resource which is employees and replace with kfarts. You saw it hear first - Fall rush will be a disaster in so many ways and the kfarts and ML should be accountable.
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The question is: will they ever figure out how incompetent this leadership is?
So they are going to play the numbers games.
No.
Margin whores.
The ship has sailed for FHEG.
Follett stock is a joke since it is not publicly traded, unless the company is going to pay out huge dividends to stock holders to get the capital out of the company. Just because they say the stock is higher now, doesn't mean anyone will buy Follett.
MLS and DG get huge stock options, and if the price goes up (even make believe) they stand to make a ton of money. This is a short term play. I have even heard that they are postponing expenses to future years so this year will be good.
Nope. Killed the goose that laid the golden egg.
Blue Book a perfect example. MLS's only goal is to increase the private stock value so the Family looks richer on paper. We're in crash and burn mode. When someone spits in a family members face, that might be the end of MLS. All the lives she's ruined so the 1% can be richer (on paper).
Everything is out of control not only at the stores but the home office too. Leaders that don't understand the business or history and don't want to hear from employees are making decisions. You see these decisions in town hall meetings and in the quad and then reversing direction again.
But the worst of all is that employee moral is terrible, and will only get worse as the rush results come in.
I think Follett is going to start losing contracts. Everything is so out of control at the store level. We do what we can and the rest is left undone. We can only do so much with our reduced staff. Moral is so low, I don't know of anything that could bring us back to where we were before the layoffs. I'm hoping to find another job soon. It's so depressing here. All people think about and talk about is how it used to be. There's no coming back from this it's to far gone.
Getting rid of FHEG is a great idea, but unfortunately there are not any buyers. It is a dying industry, with too much competition for leases which results in huge rent commissions to the school. BN cannot buy us and vice versa due to elimination of competition - not that either company can afford to take on debt.
IT is horribly bloated but not just at FHEG. FSS has directors with no real job function, directors with 2-3 direct reports and multiple VPs when one is more than enough.
Agree. IT is bloated by at least half, especially based on what they deliver and the attitude during delivery.
They lost the people who knew how to managed a chain of college bookstores which relies on various operations that I don't think they were aware of all the complexities. Follett used to write the blue book that all the companies used, not any more. IF they concentrated on FSS, eliminated FHEG, eliminated the new hires at the top to save on bloated payroll except those that had previous academia backgrounds, the company would need less than half of the IT infrastructure it has now and then the company would have something to grow and profit on.