^
But sometimes it does work out very well.
Back in 1997, I got a lot of stock in Yum Corp free of charge when it was spun-off from PepsiCo. The gain on that Yum stock has been over 650% since 1997.
Now, Yum is about to spin-off their Chinese holdings into a separate company.
I am not sure about how well that will turn out, however.
Back in 1997, I got a lot of stock in Yum Corp free of charge when it was spun-off from PepsiCo.
Pepsi doesn’t seem to be one of those companies that’s in the business of acquiring other businesses for their resources. If it was…then Pizza Hut, Taco Bell and Wilson Sporting goods would be gone…all previously owned by Pepco.
My Indiana community of 70,000 had a Firestone store that closed years ago. The store not only sold tires, did alignments, brake work, tune-ups and oil changes, but sold boat motors, home appliances and even radios and televisions under the Firestone label. The downtown area where the Firestone store was located deteriorated and the store closed. Three or four years ago Pep Boys opened a store in a popular shopping area, but it didn’t last a year. The acquisition of Pep Boys by Firestone won’t make any difference in our community.
The tire business is really competitive. We had a Big O store that opened in a new building near my house. It seemed to have a good business. One morning when I had to go to an out of town meeting and had aaa tire that was losing air, I stopped there and bought a new tire because the old one had a nail too close to the sidewall to be repaired. I was treated well and the price was reasonable. The store then became an NTB (National Tire and Battery) I bought a couple tires there because a friend and fellow musician was working there on commission after his full time church job was phased out. That store seemed busy and I was treated well, but it closed and the building was remodeled and became a mattress store. With all the other tire and auto parts store, I doubt that Bridgestone will open a Firestone or Pep Boys.
Somehow I think the framers never envisioned a few large holding companies owning half of the businesses. I do think its time for some limits but not sure what that would be. And true, sometimes they are the saviors for bankrupt businesses but in the long run I don’t believe this is good for our country. When I look at the consumer tool producers like B&D, DeWalt, Porter Cable etc. all owned by the same folks, it is not good for quality or competition. Look at the small engine and mower market with two or three companies owning all the major brands, its just not good in the long run and very confusing for consumers.
Yeah we all make money in the market too but in the long run we need to be concerned with competition, innovation, and building strong businesses. Look what a few stockholders did to Famous Daves, to the point where no one will eat there anymore.
Somehow I think the framers never envisioned a few large holding companies owning half of the businesses.
The great thing about our founding fathers…wasn’t that they thought they knew everything…in fact they knew that they would make mistakes and circumstances change, Thus they built in a way to correct any mistakes or adjustments depending on the circumstances.
Thomas Jefferson believed the constitution should be thrown out every 9 years. Most countries constitutions don’t even last 20 years.
When I look at the consumer tool producers like B&D, DeWalt, Porter Cable etc. all owned by the same folks, it is not good for quality or competition.
Look at the appliance industry. And they change hands yearly. This is one of the MAJOR reasons appliances only last 1/3 of what they use to.
The appliance business is now a global one, and Korean, European, and now Chinese firms are all after the same market. Competition is severe.
Whirlpool (makes Maytag, Magic Chef, Amana, Kitchen Aid, Roper, etc.) is the only US major one left as GE will soon sell its appliance division to Sweden’s’ Electrolux, which owns Frigidaire brands…
Having said that, our Maytag fridge, originally a Norge model, is now 22 years old and still going strong without any repairs. Our previously long lasting one was a 1969 model Frigidaire (cost $512 new) made by GM and it gave up the ghost in 1993. I sold it for $70 to a movie set supplier who was gathering stuff for a period set.
I would agree not to expect this type if service from Haier (Chinese) or other low end units.
Actually when we replaced our 18 year old washer and dryer, the guy told us the new ones don’t last as long because of the high energy efficiency requirements. Compressors and motors are built a lot lighter now than they used to be so get used to more frequent replacement.
As far as replacing constitutions every 9 years, I shudder to think what it would look like today if a new one was created. We certainly would be less free. Dang, I can’t tie it into cars except a truck delivered our appliances and it was an older model.
"As far as replacing constitutions every 9 years, I shudder to think what it would look like today if a new one was created"
Well, it’s a treasonous concept. There’s already a means for altering things that don’t work: the VP is no longer the runner-up for president, for example. This “Constitution is overrated” stuff is from busy-bodies who want to change things to suit their whims, yet discover that a Constitutional amendment is (deliberately) hard work. Allergic to heavy lifting, “get rid of the Constitution!” is their cry.
Fortunately, the Founding Fathers anticipated such busy-bodies, and did everything in their power to make things difficult for such neb-noses (while still allowing a path for changing outright lousy policies.)
I am not sure that appliances last only 1/3 as long as they once did. I’ve heard this criticism almost all my life. My parents bought aa newAdmiral refrigerator in 1950 that had to be replaced in 1957. I bought a new Whirlpool refrigerator in 1995 that is still going strong with never a problem after 20 years. The Maytag dishwasher and Frigidaire range were new when we built the house in 1989_and are still working. Our washing machine, a Maytag, was purchased in 1993 and still works well. My parents bought their first automatic washing machine in 1954. It was rebuilt once, but had to be replaced in 1966. I guess I will see how long today’s appliances last when what we have has to be replaced.
I am not sure that appliances last only 1/3 as long as they once did.
Time will tell, Triedaq–I bought my washer in 2012–but I can definitely say water-saving washers are poor performers that take FOREVER to run a cycle! I’m talking 50 minutes per…and every old-tech washer/laundromat washer I’ve used is 25-30. Also, low-water washers get your clothes really clean…provided they weren’t really all that dirty to begin with. After a day of spreading mulch, or working under my car–fuggetaboudit!
I would accept all of this as a necessary evil–if I lived in the Colorado river basin. In the Ohio basin where I live, though, we have no water shortage; we don’t irrigate our lawns–we install drainage to prevent ponding! Short of having this stuff shoved down our throat, there’d be no reason for it.
My next washer will be a flea-market '70s relic.
My latest COSTCO flyer offered $70 off on a set of Bridgestone tires…in the past they were strictly a Michelin / Goodrich outlet…
Actually when we replaced our 18 year old washer and dryer, the guy told us the new ones don't last as long because of the high energy efficiency requirements.
If that was the case…then my 20yo LG (made in Korea) washer and dryer wouldn’t still be running. And it’s far more efficient then the washer and dryer they replaced.
If that was the case...then my 20yo LG (made in Korea) washer and dryer wouldn't still be running. And it's far more efficient then the washer and dryer they replaced.
N = 1. Statistically meaningless.
@VDCdriver, Firestone Complete Auto Care sells both Firestone and Bridgestone brand tires. They cover the high end compared to Pep Boys.
By and large things are getting better. Today I saw an unusual thing; a car stuck in the slow lane on my way home. This was a breakdown, not an accident or a flat tire. Years ago those sights were commonplace as were burned headlight bulbs. As late a 1984 I used to count the “one eyed…s jacks” in the morning during the winter. On my way to work, a distance of 10 miles, the average was 20!!
How many of you remember TVs with TUBES? Our local convenience store had a tube tester where you could see if the tube was really bad. If so, the cabinet underneath held a wide variety of tubes. We still have one 11 year old CRT “solid state” Sanyo TV that never had a problem.
My daughter asked why we always bought “good stuff”, i.e. things with high reliability and long life. I explained that our house has over 80 gadgets that are mechanical or electrical, including 3 TVs, 2 fridges, 2 freezer, 2 computers, 2 microwaves, 2 printers, 2 vacuums, etc.
If they all lasted only 5 years I would be replacing 80/5=16 items every year and would be shopping constantly to get the best price. If those items lasted 15 years, we would only be replacing 5 1/3 items a year; a lot less hassle. If any item incurred an installation charge such as a water heater the savings are significant by buying the best. So far this year we have only replaced a toaster.
P.S. I spoke too soon. Just this morning my laptop developed a glitch and won,t print.
How many of you remember TVs with TUBES? Our local convenience store had a tube tester where you could see if the tube was really bad. If so, the cabinet underneath held a wide variety of tubes. We still have one 11 year old CRT "solid state" Sanyo TV that never had a problem.Geez, as a little kid I remember firing up the RCA and waiting for the tubes to warm up enough to get a picture (for some reason, I think you got sound first). I was little, skinny...and consequently cold all the time... and I'd actually lie against the back of it, trying to get warm!
Do you remember how the picture would go when you shut it down? It would get smaller, vertically, until it reduced to a line, then the line would shrink to a dot in the center of the screen, which would gradually fade to black.
Oh yeah TVs with tubes. That’s another story but Rexall Drug had the tester back then.
Firestone Complete Auto Care sells both Firestone and Bridgestone brand tires. They cover the high end compared to Pep Boys.
The Pep-Boys near me carries Michelin, BF Goodrich. Goodyear, Pirelli, Cooper…etc…etc.
So can we now expect those brands to be dropped from Pep-Boys?
I remember TVs and radios with tubes.
Whenever they stopped working, I would open them up, pull out any tube that even looked darkened, brought them up to the free tube tester at the local TV store. Most of the time I was able to find out which tube was bad, replace it, and the TV/radio worked again.
Joe