Serotta lays off 40% of workforce, planning shutdown

[dumbod]

Before we get too misty-eyed here, (oops, too late) let's remember that Ben Serotta is not an innocent victim. The company's failure is not due to DCG or Bradway Capital or those evil financiers who didn't warn Ben that a crash was coming in 2008.

Every problem that the company has had is due directly to his poor decisions; the less charitable might say his arrogance. As far as I can tell, Ben Serotta is the latest in a long, long line of wonderful craftsmen who couldn't manage their way out of a wet paper sack.

The only victims here are the employees who are soon to be unemployed despite their superlative skills and efforts.

I'm certain that Ben Serotta could start a one-man shop a la Kellogg, Sachs, Strong and build great bikes and even make a little money if that's what he wants to do. But I be willing to bet that anything more ambitious than that will wind up the same way as the Serotta Competition Bicycles.