Speaking of Harbor freight


From another newsgroup....
http://www.vcstar.com/news/2010/jul/19/harbor-freight-ceo-accused-by-parents-of-looting/
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On 7/29/2010 11:31 PM, Rick wrote:

http://www.vcstar.com/news/2010/jul/19/harbor-freight-ceo-accused-by-parents-of-looting /
Sad, I hope my favorite toy store doesn't go away.
TDD
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On Fri, 30 Jul 2010 01:55:45 -0500, The Daring Dufas

It would be sad to see then go, but I'd bet Northern Tool would fill the gap quickly. All they lack now, IMHO, is the local stores. [that's the only way I'd buy from HF- I need to touch their stuff; their shipping is a killer- an I usually need that [junk] tool *right now*.<g>
Jim
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On 7/30/2010 2:55 AM, The Daring Dufas wrote:

When I compare this to the way my own family handled the changing of the guard with my late father, it makes me sick. I am roughly the same age as the son but I would never have done any of that to my dad, though I could. I was listed as joint tenant on all of his assets and didn't touch any of them until he was gone. My brother and I didn't argue about his money either.
Of course, we're not talking about hundreds of millions of dollars like this family is. I hope the father wins back control. The son will rape that company until it collapses on its own debt.
Like you, I'd hate to see them go away.
Jay
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On 7/30/2010 7:17 AM, Jay Hanig wrote:

It all depends if you have or lack a moral compass. Some folks are well suited to do stuff like that. If they have an opportunity like this they do whatever is possible to enrich themselves with total disregard for everyone else. If dad didn't have those assets Jr could have easily fit in on Wall St or a megabank and been one of those folks the government bailed out instead of the proper thing which would be letting them fall on their faces (think about that when you are in the polling place later this year).
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Oh good, the Marketing Director, whose job it is to *market* his company, says everything will be OK.
I feel better now.
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I don't believe a word of it.
nb
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The Daring Dufas wrote:

Something like that happened at Fry's Electronics a few years ago when the head of merchandise purchasing took over $100M in kickbacks from some suppliers. The only effect I've seen is that Fry's no longer carries ECS brand motherboards.
OTOH 15-20 years ago, the leaders of the Phar-Mor drugstore chain skimmed $500M from the company and caused it to shut down. Phar-Mor used to be by far the cheapest drugstore around here.
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