Post from Jeremy McKenna on Mac Baren closure
- Thread starter geoffreybeene
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Very interesting read, times change, hard to fault people that own and control a business for making what is pretty much a smart and profitable business decision. Looks like some significant change was coming down the way regardless.
Sounds like if we had to pick a villain in all of this, it would be the government. Big surprise.
No, the reality that smoking is unhealthy and costs society is what killed it. Eventually, all tobacco manufacturing will be banned, one way or the other.
What I got from the statement was a tale as old as time: the business transfers to family when the old man passes away and the family proceeds to "do it their way" and run it into the ground. Profits trump passion. The same thing is happening at Gawith, currently.
Just like with drugs and alcohol? I look forward to the day prohibition comes for tobacco. I live in a prime tobacco-growing area and there are tens of thousands of acres to plant clandestine crops.
I would agree that if the company had been handed down to someone passionate about tobacco, there would have been a chance at continued profitability.
Bankers on the BoD certainly didn't help. Their myopic thinking never brings out a company's best.
But in this case, probably wise. There was 1 tobacco man in the ownership group and that individual died leaving no one left in the group a tobacco person. It's probably not wise for a bunch of investors to continue to own something they know nothing about especially when it can be converted into a bucket of cash for other investing interests. Can't blame them on that one.
Point taken, but depressedly so.
Yeah, I didn’t say it would be practical or effective, but it’s already happening. Just ask the frog in the pot.
It's a slowly dying industry. Sounds like the old man with the controlling interest was hanging on and resisting change to spite what the practical business choices dictated. Him dying removed that impediment and the business lurched in the direction it probably should have been slowly sliding to for years..
Well, I'll never shy away from chiming in that government sucks, lol...That said, this just appears to be a perfect storm. Family business with members inheriting a business they don't care for or know very little about, big corporation looking to increase their market share and government regulations squeezing them onto the easiest road.
Sounds like we are bringing old school nascar and speak easys back!
I would probably do the same in their shoes. As I understand it, they are not the BoD of the company, they are the BoD of the trust, and they have a responsibility to the trust beneficiaries to make sure the assets are not squandered. Could they comfortably feel that Mac Baren was a prudent investment? I'd have a hard time making the case for that.
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Unfortunately whether we agree or not, or like it or not, this is more or less a true statement. We may love our pastime, habit, hobby, what-have-you, but we have to get over ourselves thinking it is something beneficial or altruistic or romantic. That’s what we think. We can hold out against the tide for a long while, but the inevitable is the inevitable. Enjoy yourselves for as long as it may last. Peace, brothers.
Come on guys. The government knows whats best. Just ask them.
Unfortunate for us. But, yes, logical for the contrary view.