Some Things You May Not Have Known About the Bass Pro Cabelas Buy Out

E. Bryant

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Holy shit, that's a powerful piece - thanks for posting it. I'm a Midwesterner who has worked in the manufacturing industry for the past 25 years, and I've seen enough tomfoolery like this to last a lifetime. And yet we not only fail to shun these men; we worship at their feet.

I'm looking forward to seeing which Hide members bravely stand up to defend the honor of such men as Paul Singer from leftists such as Tucker Carlson. Guys like Singer are rich capitalists who buy, er, support Republican politicians, so they are good guys and on our side... right? Or maybe we really enjoyed seeing what happened to Remington after Cerebus was done desecrating that particular corpse. Or watching an entire automaker - one that built our tanks during WWII - handed over to the Italians after a bumble-fucked acquisition was something that should happen in the normal course of business. Maybe we think that the Sears and Toys R Us stories ended in a satisfactory manner for all the various stakeholders.
 

Tucker301

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How does an 11% shareholder have so much say in what a company does? What the fuck is the other 89% doing?
 
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isofahunter

Get Tough or Die!
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If I remember right at one point the entire Cabela's HQ was offered for one dollar for a year lease after BPS consolidated. Guys like Paul Singer are out for themselves and do not give a shit about anyone else. I would not piss on him if he was on fire.
 

MTN

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I'm surprised Tucker is still at Fox. I bet they'd love to have a good excuse to fire him.
The evil needs highlighting. Same reason Alex Jones isn't silenced.

Once there is enough evil, infighting, and degeneracy about, beelzabub is going to fly in like Jesus and save the world his boyz manipulated into this mess.
 
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Nik H

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How does an 11% shareholder have so much say in what a company does? What the fuck is the other 89% doing?
11% tied to one shareholder is a huge force to deal with. If the remaining 89% were unified, he would have no influence but as usual they are not. Many of the 89% are probably aligned with his 11% which provides him even more influence
 

Sean the Nailer

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The system ya'll's got down there sure has been great for a lot of people for a lot of years/decades. And regarding 'laws', just because it may be "legal" to do something, does not mean that it is "right". Maybe the system needs a tweak?

After all, it's only 'people' right?
 

bhanley

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11% tied to one shareholder is a huge force to deal with. If the remaining 89% were unified, he would have no influence but as usual they are not. Many of the 89% are probably aligned with his 11% which provides him even more influence

nik is spot on. even a single digit sharholder can be a huge pain in the ass. often the agitator and current shareholders gain something short-term, but it comes at a loss to someone - typically other stakeholders or the true long-term minded shareholders. i can look all around the US and see a ton of examples.

one thing i do know, a lot of money is wasted on that crap.

personally i think that agitators, if they cant show they held the position long-term beforehand, should have significant lock-up periods post-takeover/merger/sale etc.
 

TXBO

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How does an 11% shareholder have so much say in what a company does? What the fuck is the other 89% doing?
Percentage of common stock doesn't tell the entire story of ownership. Private equity commonly adds layers of preferred stock. Board seats can be awarded by preferred stock ownership. Many times ownership of common stock can mean dick until preferred stock is taken out.
 

Nik H

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Percentage of common stock doesn't tell the entire story of ownership. Private equity commonly adds layers of preferred stock. Board seats can be awarded by preferred stock ownership. Many times ownership of common stock can mean dick until preferred stock is taken out.
Not the case at all

Preferred stock does not usually come with voting rights where common stock does. As a result, preferred stockholders typically do not have any say in a company's future. They cannot elect BOD members.

Preferred stock's advantage is that in a liquidation, preferred stockholders have a greater claim to a company's assets and earnings. This is also true during the company's good times when the company has excess cash and decides to distribute money to investors through dividend payouts. The dividends for this type of stock are usually higher than those issued for common stock. Preferred stock also gets priority over common stock, so if a company misses a dividend payment, it must first pay any arrears to preferred shareholders before paying out common shareholders.
 

TXBO

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Not the case at all

Preferred stock does not usually come with voting rights where common stock does. As a result, preferred stockholders typically do not have any say in a company's future. They cannot elect BOD members.

Preferred stock's advantage is that in a liquidation, preferred stockholders have a greater claim to a company's assets and earnings. This is also true during the company's good times when the company has excess cash and decides to distribute money to investors through dividend payouts. The dividends for this type of stock are usually higher than those issued for common stock. Preferred stock also gets priority over common stock, so if a company misses a dividend payment, it must first pay any arrears to preferred shareholders before paying out common shareholders.
It most certainly can be the case with private equity. It most definitely was in the last company I ran that had private equity ownership. Management had majority of common. Private equity had 100% of multiple prefered layers. Of 11 board members, only one came from management. You must be thinking of public companies. It's very common in private companies.
 
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Nik H

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It most certainly can be the case with private equity. It most definitely was in the last company I ran that had private equity ownership. Management had majority of common. Private equity had 100% of multiple prefered layers. Of 11 board members, only one came from management. You must be thinking of public companies. It's very common in private companies.
You are correct. My mistake thinking we were discussing a public corporation
 
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Xshot

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Tucker - I'm glad you posted the T. Carlson video. I watched it last night and it pissed me off to no end. I found it interesting the Brits have laws preventing predatory buy out such as this.

These type of investors are a pariah and and need to be outed!
 
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OldSalty

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Previous owners of Cabelas have culpability in this fiasco. Paul Singer didn't force his way into an ownership stake. It's well known who he is and what he does. The sheep invited the wolf to the party.
I tend to agree. That part didnt make much sense. Cabelas was financially stable at the time over 1B in profits. There appears more to the story IMO. Either way, shitty hand dealt to that town.
 

Colorado S14

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Tucker does a great job of speaking to what both side of the aisle cares about. Too bad the left is so blinded that they don't see he is on their side too.
 

tracktrash

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So whats going to happen to the Nebraska Senator that took a wealthy donation from Paul Singer to keep his mouth shut? Nothing? Legit criminals. Both of them.
 
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pmclaine

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Predatory Lending

Vulture Capitalism

The system ya'll's got down there sure has been great for a lot of people for a lot of years/decades. And regarding 'laws', just because it may be "legal" to do something, does not mean that it is "right". Maybe the system needs a tweak?

After all, it's only 'people' right?

Our system is created for a "moral and just people".

Apparently not all meet the description.

Still better than socialism.
 

pmclaine

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So whats going to happen to the Nebraska Senator that took a wealthy donation from Paul Singer to keep his mouth shut? Nothing? Legit criminals. Both of them.
Sasse is a never trumper.

Thought he left the senate.

Many R senators are leaving because they have "blood" on their hands.
 
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pmclaine

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Not the case at all

Preferred stock does not usually come with voting rights where common stock does. As a result, preferred stockholders typically do not have any say in a company's future. They cannot elect BOD members.

Preferred stock's advantage is that in a liquidation, preferred stockholders have a greater claim to a company's assets and earnings. This is also true during the company's good times when the company has excess cash and decides to distribute money to investors through dividend payouts. The dividends for this type of stock are usually higher than those issued for common stock. Preferred stock also gets priority over common stock, so if a company misses a dividend payment, it must first pay any arrears to preferred shareholders before paying out common shareholders.

Preffered stock means nothing anymore.

Obama told the Preffered holders of GMC to fuck off and gave the company to the union.

Theft of one of the countries largest businesses.
 
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hertz654

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I've been critical of Cabela's after the Bass Pro Shop buyout, but now I'm better informed; Cabela's recently brought back there online military discount that had disappeared after the buyout.
 

Maggot

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There is a simple answer to all of this and I repeat something Ive said numerous times.

"Life is so much easier when you own a few (or a lot of) politicians....like Mr. Sasse.

With the exception of the one in Austin Texas Ive never been impressed with Cabella's. The ones in Virginia flat out suck. If you want the best selection of firearms around go to Greentop in Richmond/Ashland Virginia. Its nearly breathtaking. You could outfit a good sized army with what they stock in new and especially used firearms.

https://www.greentophuntfish.com/
Used Guns for Sale – Used Firearms – Green Top

www.greentophuntfish.com/shooting/used-guns
Used Guns. Browse our full selection of discount used guns online or visit our 55,000 square-foot store in Ashland, VA seven days a week. Our firearms buyers rigorously inspect every gun our customers bring us to make sure it is fully functional and will fire just as a new gun would.
 

clcustom1911

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There is a simple answer to all of this and I repeat something Ive said numerous times.

"Life is so much easier when you own a few (or a lot of) politicians....like Mr. Sasse.

With the exception of the one in Austin Texas Ive never been impressed with Cabella's. The ones in Virginia flat out suck. If you want the best selection of firearms around go to Greentop in Richmond/Ashland Virginia. Its nearly breathtaking. You could outfit a good sized army with what they stock in new and especially used firearms.

https://www.greentophuntfish.com/
Used Guns for Sale – Used Firearms – Green Top

www.greentophuntfish.com/shooting/used-guns
Used Guns. Browse our full selection of discount used guns online or visit our 55,000 square-foot store in Ashland, VA seven days a week. Our firearms buyers rigorously inspect every gun our customers bring us to make sure it is fully functional and will fire just as a new gun would.
HOLY SHIT you're not kidding!

Screenshot_20191207-081857_Chrome.jpg
 
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pmclaine

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There is a simple answer to all of this and I repeat something Ive said numerous times.

"Life is so much easier when you own a few (or a lot of) politicians....like Mr. Sasse.

With the exception of the one in Austin Texas Ive never been impressed with Cabella's. The ones in Virginia flat out suck. If you want the best selection of firearms around go to Greentop in Richmond/Ashland Virginia. Its nearly breathtaking. You could outfit a good sized army with what they stock in new and especially used firearms.

https://www.greentophuntfish.com/
Used Guns for Sale – Used Firearms – Green Top

www.greentophuntfish.com/shooting/used-guns
Used Guns. Browse our full selection of discount used guns online or visit our 55,000 square-foot store in Ashland, VA seven days a week. Our firearms buyers rigorously inspect every gun our customers bring us to make sure it is fully functional and will fire just as a new gun would.
Early 90s I took a motorcycle trip out to the Gehring/Scotts Bluff area of Nebraska to attend a fellow Marines wedding.

Prior to the event he tells me to hop in the truck because he has to go to the "corner store" to get his groomsman gifts.

Thats when I learned people like me in the congested east have a different perspective of distance than big sky people.

The "corner" was Sydney Nebraska and the Cabelas flag ship store.

It was like a shining city on the hill we could see at distance. Cool place and I can see how loss of the headquarters crushed that town.

The Cabelas near me killed some local gun stores even though there gun prices tend to be higher. They kill the small shops by taking away the ammo and accessory sales the small gun stores depend on.

Dumb thing is Cabelas sends buyers to my "Honey Hole" hidden gun shop. They buy these estate guns to put in their "library".

They dont buy the top end examples of '03s or classic guns. They buy the low to middle quality stuff so they can price it high in the Library and maximize profit.

They have a big nut to pay running those warehouses. Guess they got to maximize the profit.
 

10ring'r

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I really dislike hearing about companies that do this kind of Sh&^. It makes you not want to spend any $$ there, to support the cause. I really do like to go to an actual Outdoor Store/LGS, to buy my "necessities". I use a Cabela's in G.B., when I'm travelling thru and now every time I need to go there for something, I'm going to be thinking of this. I actually did like Bass Pro better, and I did get spoiled with the one in Las Vegas, that store was HUGE, in my opinion. Back on point, it still sucks when Corp. greed takes over and is involved in the decision making. Mac:(
 
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zeroz

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Even if you are an ugly souled bastard like this at what point do you have enough that you might think, "You know i could probably stop totally fucking over my own countryman now" I guess at some point you have solidified your place shoveling shit in the bowels of hell that you don't give a fuck. Surprised somebody from there hasn't..... Never mind.