Very true, Joseph. I left there over 6 years ago after 11 years. I was on the corporate end when I left.
What got me nervous was when the family sold its 2/3 stake in the ESOP to the employees. They bailed out. When the rich pull their money out, it’s time to go. They didn’t get rich by being stupid.
When I left I had a nice Grady White in ESOP. Now I’ve got a Jon boat
Funny, it didn’t go down in value until AFTER the family sold its share. Imagine that
Hmmm, the one they show a picture of isn’t on either list, 14 Sumar St. is the address of that one, I bet they just shut it down, a new Bi-Lo right beside it. (**() Shame
Most ESOP plans have the same results. Stock value has to be kept high to support the program which doesn’t allow for many price cutting competitive sales. Kroger and there Harris Teeter div. are the biggest in the nation and will be looking for more locations. BiLO will be looking at more locations to help pay for Winn Dixie.
What I find among the many interesting things is the best stores were purchased. If you couldn’t remain profitable with good stores how do you recover with bad?
My guess is BI-LO and Teeter will bleed them out and steal the others later. Why hurry? Pig needs money more than these mega-companies need stores. BI-LO and Teeter have not grown by being fiscally nice.
my guess either they were not making money
or they got a big offer.
when publix came some Pw people said we will drive them back to Florida, but that did not happen…
the mount pleasant PW across from Royall hardware about 5 years ago had filthy mens rest room, cracked mirror, sink pulling off the wall, black moldy grout, dirty floor, were they clueless?
I am surprised they lasted as long as they did?
Were you going there to shop or use the mens room?
Both actually.
the manager was probably asleep mentally. ever since the north bridge PW days I always thought the Pigs were dirty, the other stores coming in over the years I think forced them to build some better stores.
I did grocery management for about a decade (perishables depts), and when I moved here in 2002, i worked for about a year at one of the local Piggly Wigglys part time while focusing on finishing my B.A.
From what I observed there, I am not at all surprised they are now shutting down. Pig was a very unusual mix of some of the greatest and most capable people I’ve ever met (management), and some of the very, very worst.
It’s the hourly employees whom I fear for the most, because they truly have the most to lose here. Most of my hourly co-workers were good folks that deserved better than this.
“Sire, it belongs in truth to the Church of God, in whose name I speak, to endure blows and not to inflict them. But it will also please your Majesty to remember that she is an anvil that has worn out many hammers.”…Theodore Beza
