Gotta agree... the GSM video is a joke in my opinion, the first communication since the acquisition is 24 seconds of what's your favorite discontinued CS knife and we might bring it backYou'd think if they were going to continue having knives made in the same factories, by the same people, in the same countries, to the same standards, they would say so. That would go much further to stop the sky from falling than the lame videos. The fact that they aren't saying that means a lot.
Lynn's been putting out a lot of those videos the last few months, I wonder what the angle is -
Needs more meat boots......
A kinder gentler Cold Steel .I think it means the sale and new marketing angle that the new company wanted has been in the works for some time now.
Less meat boots and more appeals to lifestyle marketing.
"Remember the good old days? Remember when they'd stab a car door and chop the toes off a meat boot? Those were the days. " Bet you didn't think we'd be saying that at the end of 2020.
Those are all possibilities, however, as it was mentioned here by a couple different folks, if the new owner company already has say, warehouse staff, and admin assistants, and an IT department, etc.; it makes everyone who did those jobs at the purchased company redundant. They would have been laid off in any case. It's just compounded by the fact that the new company is moving operations to a different state altogether, and (speaking absolutely as politely and objectively as I can) if you weren't a designer (Demko) or innovator (LT), then it wouldn't have been worth the financial outlay to move those people to Texas. Why pay thousands moving, say, a warehouse worker to Texas, when you could just hire a local at $19 an hour or whatever it is? No one at Sold Steel was irreplaceable other than AD and LT, which is why they were all let go. So, it absolutely sucks that this happened three weeks before Christmas. However, it was going to happen anyway, and moving into the new year might have brought new tax or cost ramifications the company didn't want to deal with.
You DO bring up a good point about GSM's sale to Gridiron, who knows how that gummed up what might have been a very delicate, well planned transition?
GSM would've been working on the Cold Steel purchase while Sentinel was busy selling GSM to Gridiron. It's very possible the GSM-CS deal was ready to go months back, but the sale of GSM to Gridiron threw a wrench into things in terms of timing, because Sentinel would want to close its deal with Gridiron before letting GSM finish the acquisition of Cold Steel.
GSM M&A Guy: Hey Sentinel Corporate Stooge, just wanted to let you know we've identified an acquisition target and are ready to close the deal.
Sentinel Corporate Stooge: Funny you should mention that, we're actually working on selling you to a new private equity company. Your deal is on hold pending the sale. So sorry.
See, that was not hard to do.....that link should have been brought to the forefront long ago so that all can see first hand whats going on.