OT: How could this impact Sidney Nebraska?
- Thread starter newAD
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A friend of my wife has a son-in-law who works there. If anyone knows, how many jobs total for Cabella's there? How many are tied to just the retail store? I'd really hate to see what this could do to that city.
Cabelas employs 19,700 people. Obviously not all of those are in their home office. Tough to say how this proposed change may impact their existing home office. They now have 64 stores (of which 57 opened in the last yr and a 1/2). Since the rumors of a selloff started a few months back, I just couldn't envision anyone BUT Bass Pro shops being able to be their buyer. Cabelas still does about 1/4 of their business from their magazine suscriptions.
I would guess it could be the death of Sidney as it's known today. Significant duplication of skills between BPS and CAB employees. Will be interesting to see if they carve out Worlds Foremost Bank (credit card ops for CAB) or if that's part of the bid.
On an unrelated note, just saw where Sidney boys basketball head coach going to be an assistant at Lincoln Southwest under new head coach Alex Bahe. Seems like a good hire.
On an unrelated note, just saw where Sidney boys basketball head coach going to be an assistant at Lincoln Southwest under new head coach Alex Bahe. Seems like a good hire.
More corporate consolidation and killing competition ... great.
Well thanks for that useful feedback.
According to how the state of Nebraska officially classifies cities and villages in the state, they are considered "First Class" cities.
Being a life long Nebraskan but mostly lived mostly in Omaha, I try to not come off like a snob when referring to other locals in this state. I don't want to project the, "I'm better than you" image that I've received in the past from some from say the east coast (like when I told a guy from Philly when I was in Vegas, that I caught the stagecoach to the airport, and once he actually believed me, I told him he was F@#%&+G stupid and ordered another drink) . Everything is relative when it comes to size.
So have you ever gone off the interstate past the gas stations and actually seen the "Town?"
So I guess to you similar sized 'cities' of Nebraska City, Crete, Seward, Plattsmouth, and Schuyler are all insignificant little towns too? Does that make the potential economic impact to the city (or) town of Sidney less serious? Is it no big deal because we are only talking about like 7000 people who might be impacted?
If the non-retail jobs go away from that "city", it will be devastating, and not just to that "town."
It will kill Sidney. That really would hurt Sidney and a lot of other communities surrounding Sidney.
This is sad news. I'm sorry for Sidney. If you read the article you can see where "Elliott Management" gobbled up enough of the stock to garner 11.1% stake in the company. They are not looking out for the best interest of the company and their employees.
I've been to Sidney several times. You can quote any kind of classification you want, but my first reaction to "city of Sidney" will still be a smirk and a chuckle.
I'm not putting down Sidney or any other similarly sized town in NE or anywhere for that matter. I just have a different view of city vs town. When I think of a city, I think of the ability to do almost any city-like thing. Like visiting any number of high quality museums, being able to buy absolutely anything within an hour, eating at a restaurant of any nationality I want, more than one theater, lots of concerts/entertainment options, at least a minor league sports team, etc.
I grew up in Scottsbluff, lots of my high school classmates work there in various capacities. I know they have a pretty big IT presence at the corp HQ in Sidney, definitely a rarity in Western Nebraska. Tough break for Sidney if they move, this particular event has always been the doomsday scenario for that town, honestly always have thought it was just a matter of time. Town will suffer immensely.
So what was the downfall of Cabelas? How much of their recent expansion of number of stores is to blame? Why did they expand so much so quickly? Or was it just inevitable pressure of competition and the store expansion was a desperate attempt to combat it.
I live in the Denver area, and I used to hear of groups of guys going on a road trip to Sidney. But now that there are two stores in the Denver area, nobody does that obviously. Now they are just another big box store, Cabelas, Bass Pro, REI, Sportsmans Warehouse, Gander Mountain.
Somehow, I think the easy availability of physical stores robbed them of some of their mystique.
I live in the Denver area, and I used to hear of groups of guys going on a road trip to Sidney. But now that there are two stores in the Denver area, nobody does that obviously. Now they are just another big box store, Cabelas, Bass Pro, REI, Sportsmans Warehouse, Gander Mountain.
Somehow, I think the easy availability of physical stores robbed them of some of their mystique.
Depends on how many people in sidney own a lot of stock in the company. in the short term it would crush that town. if some of the people with money decide to invest in the town it would probably be ok.
If I remember right it's about 2100 people work there. My wife worked there as they transitioned to a publicly traded company. I knew it would ruin it. They made a lot of money. Guys used to buy ranger boats with their bonuses. I still have family that works there. I hope they still have jobs.
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Ok, so that's why Cabelas is going down. Why care about the future of the company, or the future of Sidney, as long as the execs can make enough money to live in luxury for the rest of their lives.
Govt. documents use "City of Sidney" to identify them. Your opinion is a loose interpretation of their city as a town. I'm guessing your Birth Certificate identifies you as human male? I guess we have the right to opine that classification loosely as well.
So if newAD goes back and edits his post to say "town" instead of "city" you're cool with everything else? You just wanted everyone to know your definition of "city"? Anything else we can split hairs about....?
I know. Who would kick who's ***? 1997 Jason Peter vs 2016 Kevin Williams? Laughing
Not sure how you really invest in a town like Sidney. I've got some friends from college who work for Cabelas in Sidney, and if it folds they would go elsewhere. Had the same thing happen to my small town. The major player in town moved out and the town experienced a mass exodus.
If that happens, that would be too bad. Those people & that town have put their heart & soud into that business.
So you have 22 posts in 12 years, and this is one of them? This must be really important to you.
Quality over quantity. Some on here should take note.
Do they still have Octoberfest? Had a great time there about 10 years ago, had an even better time in the back seat of some girls car in the parking lot. I think I tried to drink all the beer in Cheyenne County that weekend.
Yes, Octoberfest is still an event in Sidney, in the past would visit during Octoberfest as many friends did the same. Really enjoyed the suds and buds. If this derails Sidney, I think the city counsel may have over extended themselves or overlooked the possibility of this happening. Building new High School, new hospital and other project planning.
Have some real estate in Sidney, had people make a couple of offers a few years back, then found out Cabelas was expanding its offices in Sidney. Would hate to see Sidney go down the tubes, good memories there.
Have some real estate in Sidney, had people make a couple of offers a few years back, then found out Cabelas was expanding its offices in Sidney. Would hate to see Sidney go down the tubes, good memories there.
The Cabela's saga is another example of the potential danger of taking your company public. I've worked for 2 different companies that have felt its effects. Once you're beholden to outside investors, expectations get raised and drive for profits gets ramped up. Large investors are in it for shareholder value, no more no less. The money grab is nice but it's a dance with the devil. A choice the Cabela family made and will have to live with.
My mom became a dude 11 years ago. So good for you.
And did you really just say Boom?
Try Bam!! What? My daughter got that from Liv and Maddie. You'd sound cooler.
On the other hand had Cabela's not been part of Sidney, Sidney wouldn't be anywhere near what it is today...
No specifics known on this deal yet.
GBR
No specifics known on this deal yet.
GBR
It's kind of funny that it's always some unnamed source and poof....the stock goes up 10 bucks. Cabelas needs to **** or get off the pot. They aren't saying anything.....sell it or make a statement.