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What REALLY happened to iconic tool brands Porter
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nella(Pa) View Drop Down
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Joined: 11 Sep 2009
Location: Allentown, Pa.
Points: 3124 		Post Options Post Options   Thanks (0) Thanks(0)   Quote nella(Pa) Quote  Post ReplyReply Direct Link To This Post Topic: What REALLY happened to iconic tool brands Porter
    Posted: 02 Aug 2022 at 6:24am
https://youtu.be/zAPAqZLOlTw
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ACinSC View Drop Down
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Joined: 16 Dec 2015
Location: South Carolina
Points: 2968 		Post Options Post Options   Thanks (0) Thanks(0)   Quote ACinSC Quote  Post ReplyReply Direct Link To This Post Posted: 02 Aug 2022 at 6:53am
Yeah, I watched that the other day. Interesting. Thanks
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modirt View Drop Down
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Joined: 18 Jul 2018
Location: Missouri
Points: 8715 		Post Options Post Options   Thanks (0) Thanks(0)   Quote modirt Quote  Post ReplyReply Direct Link To This Post Posted: 02 Aug 2022 at 9:43am
That seems to be a common theme all over the place.

If you don't want to make and sell the iconic product, then leave it alone. A-hole!

BTW, not just tools. My accountant got old, retired, sold his biz to an outfit from out of town, what promptly shut it down. They tried to keep the big accounts, but the little guys, like me.......were told to F*ck Off. Sign on the door at the address used for over 20 years said they had moved........gave a new address........which was a vacant lot. And phone number that wasn't in service.

Again, if you don't want to run it, don't buy it.
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Jim.ME View Drop Down
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Joined: 19 Nov 2016
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Points: 962 		Post Options Post Options   Thanks (0) Thanks(0)   Quote Jim.ME Quote  Post ReplyReply Direct Link To This Post Posted: 02 Aug 2022 at 11:16am
And if no one wanted to buy it to run like the old fellow did, should he have refused to sell to the ready and willing buyer, regardless of their intent?  If he refused to sell (or no one wanted it) and he just closed the business, he loses as he gains no benefit from his years of owning it, you are still out of luck, and looking for another accountant.  Sorry, it's not always about what might be good for you or me.  Life goes on.
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modirt View Drop Down
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Joined: 18 Jul 2018
Location: Missouri
Points: 8715 		Post Options Post Options   Thanks (0) Thanks(0)   Quote modirt Quote  Post ReplyReply Direct Link To This Post Posted: 02 Aug 2022 at 11:28am
I'm not dinging my guy for selling it. I'm wondering why buy it if you just intend to shut it down. Like me buying a good running old tractor, just to park it out back in the weeds to let it rust. Walk away and let somebody who wants it have it for what it is.

Or perhaps a better analogy is to buy the good running tractor to part it out. Perhaps he did that for a small block of the biz? But the buyer was in St. Louis..........over 100 miles away.......and when he closed the local office,  all that biz he bought went somewhere else local, just as I was forced to do. So in the end, he got nothing out of it. So still not why he bought it in the first place.

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LouSWPA View Drop Down
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Joined: 11 Sep 2009
Location: Clinton, Pa
Points: 25119 		Post Options Post Options   Thanks (0) Thanks(0)   Quote LouSWPA Quote  Post ReplyReply Direct Link To This Post Posted: 02 Aug 2022 at 11:47am
Mo, they bought it for the assets, mainly the clientele, while at the same time stifling competition. The purchaser obviously deemed it in their best interest to draw some of the more lucrative accounts into their portfolio and not maintain two separate agencies. The good news is, you are now free to find someone for your accounting needs better suited than the new management would have been.
I am still confident of this;
I will see the goodness of the Lord in the land of the living.
Wait for the Lord;
be strong and take heart and wait for the Lord. Ps 27
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dr p View Drop Down
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Joined: 24 Feb 2019
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Points: 1396 		Post Options Post Options   Thanks (0) Thanks(0)   Quote dr p Quote  Post ReplyReply Direct Link To This Post Posted: 03 Aug 2022 at 8:45pm
We arseeing a lot of that in dentistry right now. Guys want to retire but Aspen dental just wants the charts. One of my mentors was at the end, decided to just close the door rather than sell to Aspen. Gave his patients the name of a couple of dentists he respected and a couple to stay away from, sold the real estate and put the dental equipment in the garbage. I respect his integrity but he left a lot of money on the table
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