AM I NEXT? NO LOVE AT WEATHERBY FIREARMS (CALIFORNIA)

There is little doubt that California is unfriendly to individuals and business with its dysfunctional, one-party socialist government, high taxes, burdensome regulations, promotion of politically correct clean technology over manufacturing, lack of affordable housing, abysmal schools, declining lifestyles, and growing cost of living. So it should come as no surprise that the iconic firearms, ammunition, and shooting accessories manufacturer, Weatherby, should abandon its California roots after 30+ years and move to a more people- and industry-friendly environment in Sheridan, Wyoming.

A move two-years in the planning and assisted by the State of Wyoming who is courting employers with generous incentive packages that include loans, tax relief, land, and other benefits.

According to company CEO, President and spokesperson, Adam Weatherby, “We wanted a place where we could retain a great workforce, and where our employees could live an outdoor lifestyle. We wanted to move to a state where we can grow into our brand. Wyoming means new opportunities. We are not interested in maintaining; we are growing.”

Weatherby is a family-owned, family friendly business now headed by Adam, son of the previous President and CEO Ed Weatherby, and grandson of the founder, Roy Weatherby. The company is expanding with 71 current employees, fifteen of whom chose to relocate from California to Wyoming.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE -- ELLETT BROTHERS CLOSING

Chapin, South Carolina-based United Sporting Companies, an 85-year-old distributor of firearms and outdoor sports equipment to smaller retailers, has filed for Chapter 11 bankruptcy in Delaware and has notified the South Carolina Department of Employment and Workforce that it will be permanently closing its 250,000 square-foot Ellett Brothers facility located in Chapin, South Carolina, laying off more than 170 workers by August, 2019. While the company will continue to exist, it will be significantly restructured into a smaller company. However, since the company has admitted

It appears that the proximate cause of the company’s collapse can be attributed to financial engineering, mismanagement, and a bloated gun inventory according to the allegation contained in a lawsuit where lender Prospect Capital is seeking more than $160 million which they appear to allege was diverted to interested parties and not used for the benefit of an ongoing business.

Other that Ellett, the company’s holding company, SportCo Holdings, also controls United Sporting Companies, Inc., and Ellett-owned companies including Simmons Gun Specialties, Evans Sports, Inc., Jerry’s Sports, Inc., Bonitz Brothers, Quality Boxes, and Outdoor Sports Headquarters, Inc. All are located in Chapin, South Carolina. Unfortunately, in a business failure of this size, the ripple effect can severely impact its creditors, some of whom might be struggling with their own marginal finances.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? IS THE HANDWRITING ON THE WALL AT BARNES & NOBEL

For those of you who remember the 1988 romantic comedy Sleepless in Seattle starring Tom Hanks and Meg Ryan, it was a large mega-bookstore that was destroying smaller neighborhood book stores. This was the story of Barnes & Nobel until the disrupter was itself disrupted by Amazon where a warehouse full of books was accessible with a simple search – followed by a click for payment and fulfillment. There is little or no doubt that Barnes & Nobel has fallen on hard times, not only being marginalized by cheap, well-written e-books, but facing non-traditional outlets like Walmart, Target, K-Mart, and libraries who are electronically lending e-books books at no cost, no physical visit necessary Add digital-age piracy of intellectual property and you have forces that limit the growth of bookstores, large and small.

Will Barnes & Nobel go the way of Borders, Blockbuster, Toys ‘R Us, Circuit City, and Radio Shack? Or can an activist investor or other entity restructure the enterprise?

Published reports have Barnes & Nobel considering a buy-out from Elliott Advisors, a London, England-based hedge fund or an offer by book distributor Readerlink that services non-traditional sellers like Walmart and Target. If Elliot succeeds in their offer, they will be operating the largest bookstore chains in the United States and United Kingdom.

Whatever the outcome, employees should be watching with increased vigilance.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?