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Thread: Wow. PADI has been sold!

  1. #11
    Funeral Jorunna
    Join Date
    08/01/2007
    Location
    Lafayette, CO
    Age
    64
    Posts
    5,331
    I'm with SD888 and want to see what time will bring. One of my LDS was a long time PADI shop (have course director and master instructor working there) and they switched over to SSI lock stock and barrel just said they had enough of PADI rules, etc... They also do UTD there as well. They did the switch over before this buy out.
    If you get confused listen to the music play.
    To much of everything is just enough.

  2. #12
    Shark
    Join Date
    03/05/2008
    Location
    United States
    Posts
    2,004
    The article indicated that PADI was sold from one holding company to another. So, it's not a major change.

    Please understand; the holding company only has the authority to exercise the power that is written into the sale agreement.

    For a healthy company, the holding company will buy all of the 'employee owned' shares, and then hold onto them until the company is big enough to go public. That's when they make their profit. It is a long-term proposition. And it is a risk.

    Some holding companies take on greater risk when they buy an unhealthy company. A company is unhealthy when they have too many employees for the work to be done, and incompetent managers. When a holding company buys an unhealthy company, they must remove the unhealthy parts, and wait until the company develops a track record of success. The holding company can then take that company public, and finally realize a profit for its risk and expense.

    It's life.

  3. #13
    Guppy
    Join Date
    06/30/2012
    Location
    Bethesda, MD
    Posts
    68
    Quote Originally Posted by Largo View Post
    When a holding company buys an unhealthy company, they must remove the unhealthy parts, and wait until the company develops a track record of success. The holding company can then take that company public, and finally realize a profit for its risk and expense.

    It's life.
    Politics aside you're sugarcoating it, there are a lot of holding companies out there that do nothing more than strip the company for every cent it's worth, regardless of whether it tanks the company in the long run.

    Unless you're arguing that outsourcing people's jobs actually benefits them when they lose their job to make the company "healthy" and tacking on millions in debt is realizing a "profit".

    It's not life to completely destroy companies in the name of greed, that's life for the rich that don't care about the actual company and don't care about seeing the company grow, they just want every dime they can get.

    If by some miracle the new holding company doesn't strip Padi down, raise prices on the customers, and actually invests in Padi and creates value, I'll be shocked and I'll be the first to admit I was wrong.

    These massive holding companies are nothing more than effective monopolies designed to squeeze out competition, when you get rid of competition the customer ALWAYS loses in the long run.

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