LL Bean Changing Returns Policy

[peakbagger]

They also also in the process of a big employee buy out to reduce staff and getting freezing their pension plan. They have facilities all over southern Maine. They werent known for high pay but great benefits and the pension plan was pretty rare these days as most big companies got rid of them long ago.

LL Beans is a closely held private company owned by the Bean heirs, most stay out of the public eye but as the years go on there are more heirs and they all probably want their checks. I expect they could have gone public years ago and cashed out and then end up like Eddy Bauer and EMS but they have elected to keep private. The times they have tried to expand out of the outdoor retail field have not always been successful.

[MuddyWaters]

LL Beans is a closely held private company owned by the Bean heirs, most stay out of the public eye but as the years go on there are more heirs and they all probably want their checks. I expect they could have gone public years ago and cashed out and then end up like Eddy Bauer and EMS but they have elected to keep private. The times they have tried to expand out of the outdoor retail field have not always been successful.

The Chinese have a saying. I don't speak Chinese or write it or even remember what the words sound like in Chinese so I'm going to paraphrase.

The first generation builds a business
The second generation keeps it going
The third generation destroys it

When you think about it this is very very true.
The idea is that the children of the person who built the business has had enough of their parents character and teaching about it instilled in them to keep it going okay.
The grandchildren are spoiled brats that don't give a darn about anything but spending money. Money they didn't have to work for.