Posted on 11/21/2015 1:34:28 AM PST by RC one
Cabela’s has hired a communications firm that advertises itself as a “defender†of companies against activist investors as the retailer could be looking to put itself up for sale.
"No one has defended more companies against the big-name activist shareholders," the firm, Joele Frank, says on its website
Cabela’s hasn’t commented publicly on the activist’s stake, but the hiring of Joele Frank suggests the Sidney-based company isn’t rolling over in the face of the big shareholder agitating for change.
Cabela’s is under pressure to make big changes after the New York-based activist investor announced earlier this month a big stake in the company. The company employs 2,000 in its hometown of Sidney, population 6,800.
The activist investor, Elliott Management, said when it announced its stake that it would do what it took to "unlock" Cabela’s value, including pushing for the company to sell itself in whole or in part.
Elliott on Thursday didn’t return calls for comment.
Activist investors, which in the 1980s were known as "corporate raiders," take big stakes in companies and then agitate for those companies to make changes that will boost their stock prices. Typically, the activists then sell the shares for a tidy profit.
The buyout firms that Bloomberg reported are interested in a deal could value Cabela’s in the mid- to high- $50s a share, Bloomberg said.
(Excerpt) Read more at omaha.com ...
The laser focus on share price to the exclusion of everything else is what happens when there is no way to earn a reasonable rate on one’s money anywhere other than in the equities market.
“I buy a lot of stuff from Cabelas and use their credit card regularly. I really love that store. I love Bass Pro too.”
We have an REI, Bass Pro Shop, two Gander Mtns, and Cabelas in town, not to mention a few well established smaller outdoor stores.
We’ve received Cabelas catalogs for years...and have ordered things from them in the distant past. Then they built a huge (very nice) new store nearby that I’ve visited several times. They seem to be very proud of their merchandise as most seems to be near or at MSRP. The visits I’ve made were simply to try on, gauge the heft, or compare products. I’d then go online and order my choice thru Amazon or other retailer.
Another thing that irritated me was the Renta-Guard standing just inside the entrance beside a huge sign than read “Gun Check Desk”.
I wish them success because we love our outdoor products, but I can’t see overpaying for something.
Cruz’s wife worked for ‘Golden Sacks’ and they provided benefits to him while he was a senator. If he has any questions he can just ask his wife.
If he was a good Christian he probably wouldn’t be doing what he is doing.
Have bought much LMB fishing gear from Cabela’s. Good stuff. Cabela’s did the old expand too much and fast that began to cannibalize their older stores. Plus, they like Basspro, have gooten too far away from their core business and are now into clothing of all kinds to kitchen wares and other pursuits. The store in Plano, TX is fantastic with its restaurant and eateries but that costs and is far removed from what Cabela’s was that made it great.
Proven scientific fact: kill one shark and the other sharks find somewhere else to be very quickly.
These being human sharks two or three may have to be dispatched before the rest get the message.
We live in interesting times.
He is backing Rubio: http://www.breitbart.com/big-government/2015/04/13/megadonor-paul-singer-fundraising-for-marco-rubio/
The people I'd worked with for years were crying when they took the old company logo down and their new logo didn't come with loyalty or reasons for it. It came with HR and its brand of corporate politics, instead.
I suppose that Paul Singer and his ilk, Romney probably included, have a necessary place in the food chain, same as the vulture and the maggot, but I find them revolting wherever I find them.
What is being done to Cabelas is the same as what is being done to America and to the American dream. It's just a matter of scale.
Cabelas opened the door to what then came in and so did we, the people. Surprise, surprise!
I was making an observation, not a judgment.
Many LGS's are already in place and ready to do just that. You can't stop rock and roll. Their prices and selection are rarely as good as Cabelas however. The best prices on Hornady bullets and smokeless powders tend to be found at Cabelas IMO though Bass pro has been a darned good source of powder too even through the great drought of 2013-2014.
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