Gary Yamamoto Baits Sold to GSM

[Smells like fish]

I know a guy in Tn 

[Glenn]

7 hours ago, Skunkmaster-k said:

It’s not just Lews, it’s Strike King as well from the article I just read. 

Lew's and Strike King are under the same roof.  That happened a couple of years ago.

 

On the subject of employees and mergers/acquisitions - it's all about the $$ - particularly if it's a publicly traded company.

 

I was with T-Mobile when the Sprint merger happened.  There was a LOT of talk about "We need everyone! We're not letting anyone go! We're actually hiring more people! We can't afford to lose anyone!"  Even the CEO John Leger went to congress - on record - to say the merger would create jobs and not lose any (In a 2019 blog post still available on the company’s website, former T-Mobile CEO John Legere proclaimed that the merger would be “jobs-positive from day one and every day thereafter.” “That’s not just a commitment, it’s a fact,” Legere said.)

 

Fact: T-Mobile laid off 5,000 employees after the merger, myself included - after spending nearly 19 years there. In fact, with few exceptions, they laid off everyone below a director level that had more than 12 years tenure at T-Mobile or Sprint. Of course, the higher-ups saved themselves from the bloodbath. Meanwhile, John Leger walked away with a 137 million dollar bonus for making the merger happen.

 

So...I don't give a crap whatever promises are made during an acquisition or merger - it's just empty promises.  Employees will get laid off - in massive numbers - regardless of anything anyone says to the contrary.  They'll tell you anything to keep you around as long as they need you, and then toss you to the ditch the moment you're considered a liability to the bottom line.

 

Can't say that's the same scenario for Yamamoto, because it's not a mega-merger; but rather an acquisition from a parent company.  So there aren't any redundant jobs that need to be pruned/consolidated.  Best case scenario is that the new parent company dumps $$ into GYCB to expand and grow the company.  And the folks with tenure get promoted into leadership roles as new hires are added to the payroll.  

 

Good luck guys!

 

P.S.  As for me, I'm doing fine. Got a healthy severance package and found another job that pays the highest ever in my life.  So things worked out in the end.  I'm just P.O'd about being deliberately deceived, and seeing the CEO outright lie to congress in order to get his payout, without facing any consequences for his actions.

 

[QED]

34 minutes ago, Glenn said:

[stuff deleted] Fact: T-Mobile laid off 5,000 employees after the merger, myself included - after spending nearly 19 years there. In fact, with few exceptions, they laid off everyone below a director level that had more than 12 years tenure at T-Mobile or Sprint. [more stuff deleted]

 

Sorry to hear that, but glad you landed on your feet.  In large, public company M&A scenarios, one of the main cost reduction measures is to remove redundancies as a part of what is euphemistically referred to as "synergies."  In most cases, the acquiring company employees win out in that scenario, though I've seen the reverse situation where portions of the acquired company take precedence over the the acquirer's corresponding people.  But when acquiring startups or other small, private companies, we usually use "golden handcuffs" for key employees.

[TnRiver46]

8 hours ago, Glenn said:

Lew's and Strike King are under the same roof.  That happened a couple of years ago.

 

On the subject of employees and mergers/acquisitions - it's all about the $$ - particularly if it's a publicly traded company.

 

I was with T-Mobile when the Sprint merger happened.  There was a LOT of talk about "We need everyone! We're not letting anyone go! We're actually hiring more people! We can't afford to lose anyone!"  Even the CEO John Leger went to congress - on record - to say the merger would create jobs and not lose any (In a 2019 blog post still available on the company’s website, former T-Mobile CEO John Legere proclaimed that the merger would be “jobs-positive from day one and every day thereafter.” “That’s not just a commitment, it’s a fact,” Legere said.)

 

Fact: T-Mobile laid off 5,000 employees after the merger, myself included - after spending nearly 19 years there. In fact, with few exceptions, they laid off everyone below a director level that had more than 12 years tenure at T-Mobile or Sprint. Of course, the higher-ups saved themselves from the bloodbath. Meanwhile, John Leger walked away with a 137 million dollar bonus for making the merger happen.

 

So...I don't give a crap whatever promises are made during an acquisition or merger - it's just empty promises.  Employees will get laid off - in massive numbers - regardless of anything anyone says to the contrary.  They'll tell you anything to keep you around as long as they need you, and then toss you to the ditch the moment you're considered a liability to the bottom line.

 

Can't say that's the same scenario for Yamamoto, because it's not a mega-merger; but rather an acquisition from a parent company.  So there aren't any redundant jobs that need to be pruned/consolidated.  Best case scenario is that the new parent company dumps $$ into GYCB to expand and grow the company.  And the folks with tenure get promoted into leadership roles as new hires are added to the payroll.  

 

Good luck guys!

 

P.S.  As for me, I'm doing fine. Got a healthy severance package and found another job that pays the highest ever in my life.  So things worked out in the end.  I'm just P.O'd about being deliberately deceived, and seeing the CEO outright lie to congress in order to get his payout, without facing any consequences for his actions.

 

It’s alright Glenn, I don’t think many people tell the truth when addressing congress 

[Skunkmaster-k]

10 hours ago, Glenn said:

Lew's and Strike King are under the same roof.  That happened a couple of years ago.

 

On the subject of employees and mergers/acquisitions - it's all about the $$ - particularly if it's a publicly traded company.

 

I was with T-Mobile when the Sprint merger happened.  There was a LOT of talk about "We need everyone! We're not letting anyone go! We're actually hiring more people! We can't afford to lose anyone!"  Even the CEO John Leger went to congress - on record - to say the merger would create jobs and not lose any (In a 2019 blog post still available on the company’s website, former T-Mobile CEO John Legere proclaimed that the merger would be “jobs-positive from day one and every day thereafter.” “That’s not just a commitment, it’s a fact,” Legere said.)

 

Fact: T-Mobile laid off 5,000 employees after the merger, myself included - after spending nearly 19 years there. In fact, with few exceptions, they laid off everyone below a director level that had more than 12 years tenure at T-Mobile or Sprint. Of course, the higher-ups saved themselves from the bloodbath. Meanwhile, John Leger walked away with a 137 million dollar bonus for making the merger happen.

 

So...I don't give a crap whatever promises are made during an acquisition or merger - it's just empty promises.  Employees will get laid off - in massive numbers - regardless of anything anyone says to the contrary.  They'll tell you anything to keep you around as long as they need you, and then toss you to the ditch the moment you're considered a liability to the bottom line.

 

Can't say that's the same scenario for Yamamoto, because it's not a mega-merger; but rather an acquisition from a parent company.  So there aren't any redundant jobs that need to be pruned/consolidated.  Best case scenario is that the new parent company dumps $$ into GYCB to expand and grow the company.  And the folks with tenure get promoted into leadership roles as new hires are added to the payroll.  

 

Good luck guys!

 

P.S.  As for me, I'm doing fine. Got a healthy severance package and found another job that pays the highest ever in my life.  So things worked out in the end.  I'm just P.O'd about being deliberately deceived, and seeing the CEO outright lie to congress in order to get his payout, without facing any consequences for his actions.

 

Liars suck. 

[JustJames]

Doesn’t sound too good for me. Most of bigger companies care more about cost and completion than quality or consumer. They will try to produce as much as fast and as lowest cost as possible.
It might be good that they in corporate Senko color selection to other type plastic and more widely available but once they lower quality/recipe, the Senko become nothing but dinger or stick-O. 
Time will tell, I guess but in the meanwhile I’ll stockup especially 3-5” Senko, Fatika and Hula grub. 

[TOXIC]

Well, it’s a wait and see situation.  I’ve got news for ya.  Yamamoto has changed the formula for their plastics, mainly the Senko, a couple of times since I’ve been there.  I’ve never been privileged enough to know the reasons why but I did not see any drop in quality.  Believe me, I’ll be the first one to spout off if there’s any major change that does affect the quality.  In my prior life as a Federal Agent who closed banks for a living, I’ve seen hundreds of sales of financial institutions.  There’s always a purchase and assumption agreement and it identifies the options of the acquirer.  With banks, there was always an inherent value in employees since they deal with the public and are normally from the community where the banks branches are located.  The amount of “run off” from a bank acquisition can be major if not handled correctly.  In some cases the acquirer has branches close by and they will clean house of employees.  That’s normally because they have a tendency to get bad attitudes after an acquisition.  Mega mergers have no loyalty to anyone.  It’s totally a bean counting process.  Employees close to retirement are prime targets.  

[FishinBuck07]

Thing that worries me is all the companies I see that are owned by this conglomerate are in the hunting industry.  So this looks to be the first fishing company they have bought.

[WRB]

For my view point this purchase has nothing to do with synergy it’s all about a brand name to expand business.

This usually means operational cost cutting by moving production off shore and initially lowering unit price.

Gary had lots of international contacts and may have a exit contract. It’s takes time to determine what the impact will.

Tom

[T-Billy]

14 hours ago, Glenn said:

I'm just P.O'd about being deliberately deceived, and seeing the CEO outright lie to congress in order to get his payout, without facing any consequences for his actions.

The day comes for all of us when we have to account for our actions. I wouldn't want to be in his shoes when his day comes. Glad things worked out well for you. Thanks for this great forum.

[Jaderose]

Senko's are THE bait in the bass fishing world.  We all use them (most of us anyway) and all have success with them.  They cost a lot and we all complain but we don't stop buying them because a weightless green pumpkin Senko is about the closest thing to a sure bet you're gonna get in this sport.  Changing them substantially would cause IMMEDIATE backlash from an already wary customer base.  If they were smart, they would lower the price a little and give more options in buying them in bulk or simply do nothing and keep on keeping on.  Just my opinion

[ryanerb]

On 10/24/2021 at 4:53 AM, Jaderose said:

Senko's are THE bait in the bass fishing world.  We all use them (most of us anyway) and all have success with them.  They cost a lot and we all complain but we don't stop buying them because a weightless green pumpkin Senko is about the closest thing to a sure bet you're gonna get in this sport.  Changing them substantially would cause IMMEDIATE backlash from an already wary customer base.  If they were smart, they would lower the price a little and give more options in buying them in bulk or simply do nothing and keep on keeping on.  Just my opinion

Let's hope the new owners know this and don't mess with a fragile known working machine!

[Jaderose]

4 hours ago, ryanerb said:

Let's hope the new owners know this and don't mess with a fragile known working machine!

I don't know how you could know virtually anything about Bass Fishing and NOT know about Senko's

[txchaser]

While it is certainly possible to buy a brand that probably has the best margins in soft baits and try to squeeze out a few more %, it'd be full-on boneheaded... it's about the exact wrong place to put attention on a premium brand. Picking up nickels and ignoring dollars blowing by. If it was mid-range, sure. But it happens /shrug

 

I wouldn't be shocked to see them a) cut the bottom 10% or so of baits and or colors that never really took off, unless they are working well in the JDM market, perhaps cut things that are really expensive to make and don't sell much and b) go on a pretty aggressive line extension to see how far they can push the brand. They'll probably have some money to try new stuff.