Simmons declaring bankruptcy
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Just ran across this story on MSNBC.com: "As Simmons sank, buyout firms prospered: 133-year-old brand about to file for bankruptcy, but owners roll in profits" http://www.msnbc.msn.com/id/33174514/ns/business-the_new_york_times/ And a companion article: "Life was plush for Simmons executive: Millions in pay, plenty of perks while mattress icon struggled" http://www.msnbc.msn.com/id/33178050/ns/business-the_new_york_times/ -Catherine (even more glad I bought from a local, independent mattress manufacturer) This message was modified Oct 5, 2009 by Catherine
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Re: Simmons declaring bankruptcy
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Greed at the top, and mismanagement seem to be the order of the day for so many American companies anymore. The old biblical admonition, "Pride goes before a fall" is most in play amongst those of power in our day and age. Companies like FloBeds, Savvy Rest, Habitat, and so many other small niche market mattress manufacturers are gaining in popularity and market penetration. They seem to care a lot more about their customers and what their needs are, than just the bottom line. Well good! Maybe we can return to some of the types of businesses that made this country great in the first place. This message was modified Oct 5, 2009 by eagle2
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Re: Simmons declaring bankruptcy
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Print format links (easier to read): <a href="http://www.msnbc.msn.com/id/33174514/ns/business-the_new_york_times/print/1/displaymode/1098/">Buyout firms profit as Simmons sinks</a> <a href="http://www.msnbc.msn.com/id/33178050/ns/business-the_new_york_times/print/1/displaymode/1098/">Life was plush for Simmons executive </a> |