http://www.vcstar.com/news/2010/jul/19/harbor-freight-ceo-accused-by-parents-of-looting/
Not sure if this is the forum!
Not sure if this is the forum!
End of Harbor Freight?
- Thread starter Joe Scharle
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Wow, that is bad news. I feel sorry for the father and for all of the employees. I hope that there are better times to come.
I have a cousin who fired her dad the day she got controlling interest in the family business, but that was completely different; she brought it back from the brink of bakruptcy. My uncle had some trouble with his vices, spending the profits on booze and gambling (and the rest he just wasted 
). But she treated him fairly and took care of him in retirement and I think he knew that was what would happen before he gave it to her.
). But she treated him fairly and took care of him in retirement and I think he knew that was what would happen before he gave it to her.
I suppose I should have also said, that if anyone has some HF products on your wish list, maybe you buy sooner rather than later.
Quite unfortunately, but of the only two people I personally know that I consider "rich" by way of building a business, or businesses, from scratch, both had children that took over the businesses and destroyed them; both ending in dissolution bankruptcy. The other, and perhaps saddest result was that both families were destroyed as a result; one of which would have made the Hatfield's & McCoy's seem docile.
These examples reinforced my belief that you absolutely must "pay the price" of raising a business in order to effectively run it when it matures. Those who get it handed to them rarely succeed; I believe the best way for a business to transcend a generation is by hiring outside, well-paid management that serve at the will of the elder owner. Right or wrong, that's just my humble opinion fwiw. Bottom line is I'm not the least bit surprised by the HF fiasco. :no:
Russ
These examples reinforced my belief that you absolutely must "pay the price" of raising a business in order to effectively run it when it matures. Those who get it handed to them rarely succeed; I believe the best way for a business to transcend a generation is by hiring outside, well-paid management that serve at the will of the elder owner. Right or wrong, that's just my humble opinion fwiw. Bottom line is I'm not the least bit surprised by the HF fiasco. :no:
Russ
agree randy...junk .
:rotflm:
:rotflm:
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