Cabelas and Bass pro shop merger always did stink.

[VikingsGuy]

This is nothing new, remember “Gordon Gekko”? The challenge is how to balance appropriate societal impacts, with the reality that some companies just can’t survive in the modern/current economy and how do we turn around and repurpose those assets/resources into productive ones as soon as possible. The US’s ability to rapidly disrupt failing businesses is a strength that benefits all. The US employment rate and lower/middle class wage growth since the last recession is far better than Europe’s or Japan’s. And it isn’t just the poster-child billionaires who are winning - pensions both public and private fund (and benefit) from almost half of private equity activity in one study I saw. Our whole economy is “feeding at this trough” and mere populist rhetoric of envy will not help us find the balance between reasonable regulation and a vibrant dynamic economy. FWIW - I tend to worry less about which few jerks become rich and instead look at how many millions are helped during periods of GDP growth, but I also acknowledge balance is needed and no human system can run effectively without some intervention. We need a healthy balance between the Gordon Gekkos and the Teddy Roosevelts. We also need a society that better understands both history and modern economics so that we don’t kill the golden goose by chasing the populist outrage of the day.

 

[Ben Lamb]

This is nothing new, remember “Gordon Gekko”? The challenge is how to balance appropriate societal impacts, with the reality that some companies just can’t survive in the modern/current economy and how do we turn around and repurpose those assets/resources into productive ones as soon as possible. The US’s ability to rapidly disrupt failing businesses is a strength that benefits all. The US employment rate and lower/middle class wage growth since the last recession is far better than Europe’s or Japan’s. And it isn’t just the poster-child billionaires who are winning - pensions both public and private fund (and benefit) from almost half of private equity activity in one study I saw. Our whole economy is “feeding at this trough” and mere populist rhetoric of envy will not help us find the balance between reasonable regulation and a vibrant dynamic economy. FWIW - I tend to worry less about which few jerks become rich and instead look at how many millions are helped during periods of GDP growth, but I also acknowledge balance is needed and no human system can run effectively without some intervention. We need a healthy balance between the Gordon Gekkos and the Teddy Roosevelts. We also need a society that better understands both history and modern economics so that we don’t kill the golden goose by chasing the populist outrage of the day.

I'ma jump on my bull moose and come over there to give you what for, sir!

 

[OverlordBear]

The minute that you start bad-mouthing capitalism, you start bad-mouthing the system that has given you what you have. If you think that a socialist agenda would be better, and government can do everything for you, then by all means take your ill-informed asses to Venezuela, or one of the plethora of socialist countries that are failing/have failed.

I guess my nuance was not highlighted strongly enough. Idealistic free market captialism based on Adam Smiths and ludwig von mises free market economies do not exist on a large scale in the global economy. Multinational Corporations and hedge fund managers and lawyers run the majority of the economy.

The fact that big business is regularly in bed with politicians and regulatory agencies to write regulations and laws which stifle competition and increase the barrier of entry to such high levels in most industries that it is practically impossible to start businesses in most industries.

Yes America has raised more people here and abroad out of poverty than other place on earth, but that does not mean that just because we were the freest country on earth we should continue defending multinational corporations as bastions of free market capitalism.

As long as conservatives continue to tie their ship blindly to big business and think they are defending freedom and fighting socialism they are wrong. Wall Street does not care about the sustainable economic health of this country or any other country. Wall Street only cares about return on investment. Public lands can only be protected and expanded by people motivated by intrinsic values outside of the spread sheet. Wall Street hates wild places and natural landscapes. You can’t have an expectation of never ending increases in markets and GDP and also expect to maintain and protect Wildlife and Wilderness and Nature.

Deals like Cabelas and Bass ProShop mergers show the wolves amongst the sheep in the outdoor space. We as sportsman need to be aware of this as we make our purchasing decisions.

Labeling my criticisms as a desire to adopt Venezuelan socialism is not an honest reflection of my motivations behind the criticism of US corporate practices.

 

[OverlordBear]

Why do we need more laws? Do we really need to complicate the idea of "Thou shalt not steal"?

I wish it was that simple..... I wonder what punishment you would have to inflict on the banks from the 2008 bailout to have a just punishment for the theft of 1.5 trillion dollars.

 

[OverlordBear]

This is nothing new, remember “Gordon Gekko”? The challenge is how to balance appropriate societal impacts, with the reality that some companies just can’t survive in the modern/current economy and how do we turn around and repurpose those assets/resources into productive ones as soon as possible. The US’s ability to rapidly disrupt failing businesses is a strength that benefits all. The US employment rate and lower/middle class wage growth since the last recession is far better than Europe’s or Japan’s. And it isn’t just the poster-child billionaires who are winning - pensions both public and private fund (and benefit) from almost half of private equity activity in one study I saw. Our whole economy is “feeding at this trough” and mere populist rhetoric of envy will not help us find the balance between reasonable regulation and a vibrant dynamic economy. FWIW - I tend to worry less about which few jerks become rich and instead look at how many millions are helped during periods of GDP growth, but I also acknowledge balance is needed and no human system can run effectively without some intervention. We need a healthy balance between the Gordon Gekkos and the Teddy Roosevelts. We also need a society that better understands both history and modern economics so that we don’t kill the golden goose by chasing the populist outrage of the day.

We are past due for some serious monopoly busting of numerous industries. IE Amazon Google Facebook and Disney. The acquisitions these four companies have made in the last 8 years should have never happened. I am saying this owning stock in all four companies.

 

[Twolftg]

Examples like these are why people don’t believe in Capitalism anymore. We live in a global oligarchy governed by international corporations and their political cronies. The bailouts set the groundwork on how to legally steal billions from taxpayers. This also means I am done shopping at cabelas and bass pro shop.

I just saw that video the other day. Too bad, destroyed a whole town and a brand that used to stand for something.

 

[Twolftg]

Agreed. I was sitting on 7, $50 cards. I struggled to find anything they had that I needed. I ended up getting meat processing/butchering/sausage making stuff but still cringed at how overpriced it was marked at. They really are wildly over priced.

I'd like to know where you guys shop, they definitely are not overpriced for any store around me.

 

[VikingsGuy]

We are past due for some serious monopoly busting of numerous industries. IE Amazon Google Facebook and Disney. The acquisitions these four companies have made in the last 8 years should have never happened. I am saying this owning stock in all four companies.

I am not as worried about the monopoly side of it, but the tendency towards “chrony capitalism” really worries me.

 

[BWALKER77]

There is a limit to where you can get your outdoor stuff. What happened to Cabela's, in my opinion, was because of the guy that was leading Cabela's. Dennis Highby tanked Cabela's and now has started his own outdoor, mail-order business-in Sidney, Nebraska, no less. As the head of Cabela's, he had millions in stocks and Bass Pro bought all of them from everybody, when they took over. He now has his business in Sidney and has leased a lot of the country around there for his cronies, or clients-whatever.

In Bass Pro's defense, they took the company back to a private holding, rather than being in a position where a large investor can leverage the company. They bought all of the stock back, with no choice. I know, because my wife had a bunch that she accumulated while working there. The prices have leveled out and the store is not bad now, at all. What happened is just part of business on a large scale. It happens all the time.

The minute that you start bad-mouthing capitalism, you start bad-mouthing the system that has given you what you have. If you think that a socialist agenda would be better, and government can do everything for you, then by all means take your ill-informed asses to Venezuela, or one of the plethora of socialist countries that are failing/have failed.

I do not like what Cabela's did and the brothers did not set out to have that be the end for Cabela's. It is not the first, nor will it be the last to do something like this.

Not bad? They have gotten rid of most of there quality merchandise like Meindl, Sitka, etc and replaced it RedHead branded crap which is pure garbage. Their gun department has went to hell and about the only thing the have reliable stock of is low end junk. The stellar warranty Cabelas provided is gone and most of the high quality Cabelas branded items they sold are gone too.
The store in Billings look like a ghost town compared to 5 years ago, yet the Scheels a few miles away is doing great.

 

[MTGomer]

Not bad? They have gotten rid of most of there quality merchandise like Meindl, Sitka, etc and replaced it RedHead branded crap which is pure garbage. Their gun department has went to hell and about the only thing the have reliable stock of is low end junk. The stellar warranty Cabelas provided is gone and most of the high quality Cabelas branded items they sold are gone too.
The store in Billings look like a ghost town compared to 5 years ago, yet the Scheels a few miles away is doing great.

Even before the merger that was a terrible cabelas.
There are few bargains to be found at Scheels but they sell good stuff, their people know about the products and the service is great. The difference between those two stores is amazing.

 

[hossblur]

When i started my business I looked at cc for gas, other materials, etc.

My wife(also my 50%partner) lobbied hard for a Disney card so she could have the points.

Of course I now have a Cabelas black card. My local cabelas I talked to the gun library guys a bunch, always looking for 99c in .243.

One day I came in and he told me Bass Pro walked in and fired all the full time Cabelas folks.

Since. They quit making iron ridge boots for kids, 800gram, cortex(no one make that for kids). Quit making cabelas brand wedge soles my feet adored. Meindl, gone. Higher end guns in gun library, gone. Anyone in the store who had any knowledge, gone. Bargain cave gone.

Any reason to have cabelas card, gone.

Lucky for me I have Kings, Black Ovis, Camofire all within 50 miles. And a sportsmans warehouse 15 away, if I need a box store.

Sad. I drove from Utah to Sydney years ago as a tourist destination. Now i rarely drive 10 miles.

 

[geetar]

I'd like to know where you guys shop, they definitely are not overpriced for any store around me.

Online. Black Ovid, CamoFire, Mountain Archery ect. They always seem to have good sales on these site.

 

[MTGomer]

I shop on the Hunttalk and Rokslide classifieds, Stone Glacier, Schnees, local archery shops, CamoFire, Kuiu, REI and occasionally Sportsman’s or Scheels.

 

[Twolftg]

When i started my business I looked at cc for gas, other materials, etc.

My wife(also my 50%partner) lobbied hard for a Disney card so she could have the points.

Of course I now have a Cabelas black card. My local cabelas I talked to the gun library guys a bunch, always looking for 99c in .243.

One day I came in and he told me Bass Pro walked in and fired all the full time Cabelas folks.

Since. They quit making iron ridge boots for kids, 800gram, cortex(no one make that for kids). Quit making cabelas brand wedge soles my feet adored. Meindl, gone. Higher end guns in gun library, gone. Anyone in the store who had any knowledge, gone. Bargain cave gone.

Any reason to have cabelas card, gone.

Lucky for me I have Kings, Black Ovis, Camofire all within 50 miles. And a sportsmans warehouse 15 away, if I need a box store.

Sad. I drove from Utah to Sydney years ago as a tourist destination. Now i rarely drive 10 miles.

Funny my house had the exact same thing. I had a Cabelas card and my wife has a Disney. I really quit using my card before the merger when they eliminated the bonus points program.

 

[greatwhitebuffalo]

I don't shop there anymore unless I'm really short on time and need a really cheap/quick fix. Beyond that, my kids kind of like the decor of some of the stores.

I can plan my purchases a lot further in advance though. I really try to make larger purchases through things like silent auctions and such at fundraisers like RMEF dinners and such.

As for the rest there are economics; and then there are economics. I don't believe that most really consider their true impact day to day. e.g. - the "activist" that purchases their Starbucks on Amazon, while using their Bank of America card on a Google supported Verizon iPhone.

 

[SFC B]

In town we have a Sportsmen's and Bass Pro.....soon we will have a Scheel's. I guess my expectations may be different than some. First, our BP has a much better selection than SW. I would also say it has better prices along with not being in what passes for the shady part of the Springs. When I go into any big box store of any type I simply don't expect to be dealing with "experts". That being said, I have always gotten great courteous service at our BP. I will be interested to see what Scheel's is like when it opens.

As for guns....I have an actual gun shop with folks I trust and usually get at least as good of prices as the big boys

High end stuff.....I go to the source usually, if I can find a retailer in a reasonable distance I will go check it out but have found the actual folks (ie MR) will give the best advice and dealing through the mail works well.

As for the "evil corporations"? I will just say that it is incredibly simplistic to believe that operation in our current and future world and economy can be done without interaction with these corporations or that there could be a global mechanism for limiting them on a meaningful scale. It is also weak sauce to ignore the benefits of economy of scale these operations bring to huge swaths of society.

 

[Irrelevant]

Based on some of the comments on this thread I have to question if people actually watched the video? This isn't necessarily about anti-big business. There is another level of greed at play here, and I appreciate the @OverlordBear for pointing it out.

 

[greatwhitebuffalo]

It deserves note that this is a strategy used in capitalism and not the only one. Still some larger companies that use decent organic growth.

 

[Ozarkshunter95]

I'm with you on capitalism building the country, but it's a pretty tough sell to convince anyone that this guy built anything. Capitalism as it is intended always has a trickle down effect that is net positive. There is no company and there are only a small amount of jobs he created for his own firm, and all of that is offset by the jobs he gets rid of. Regulating something like this is no different than corporate espionage or insider trading.

Cabela's had no incentive to sell and openly did not want to. Comparing this to business as usual in America is a giant leap.

I mean Johnny Morris started bass pro in a liquor store in Springfield mo so I'd say he built it up some

 

[OldTexicanNewMexican]

That whole mess ruined the Cabela's brand. It will never come back. I quit doing business with my local Cabela's simply because the quality is no longer there, nor does it have the selection or service that was once there.