Serotta lays off 40% of workforce, planning shutdown

[yankees1]

Originally Posted by jlwdm

Right, it does not tell me anything.

Separate from the lawsuit, these employees were taking a financial risk in general by working at a small company that had a history of financial problems.

Jeff

These were longtime, loyal, hardworking employees that went above and beyond to help keep the company alive. Unfortunately the employees best interest were not always kept in mind.

[buddybikes]

Close and padlock the doors, bring in the auctioneers. Perhaps new frame builders can pickup some nice machine tools.

Value of the name dropping like a rock.

Support your small builder that is feeding a family not a 900K house

[jlwdm]

Originally Posted by steveandbarb1

...

Support your small builder that is feeding a family not a 900K house

A $900,000 house is not a real expensive house today, or that costly with recent interest rates. Plus Ben is not a young kid - this is later in his life.

Jeff

[Germany_chris]

I knew there was going to be an implosion, but I didn't think it would be this bad. I now have even less respect for most of those involved.

[jpw]

this thread should be closed.

[Bruce K]

It seems to have pretty much run its course.

Original story is old news.

If there's nothing new to add.....

BK

[buddybikes]

Average house in Saratoga is 279K...

Poured money to enjoy himself and left his staff who got him there without much.

We value the craftmanship of Serotta, this craftsmanship comes the the workers...designers, cutters, welders, painters...not sr manager sitting in his office.

End of Rant

[BumbleBeeDave]

. . . seems to be going nowhere new--veering away from analysis and into personalities.

BBD

[Keith A]

Originally Posted by Charles M

Just posted by Steve Harad / Honcho of Blue Bicycles...

" Here's hoping we aren't next but it looks like we are. Lets catch up Ben Serotta"...

Damnit...

Where was that posted?

[sitzmark]

Originally Posted by Keith A

Where was that posted?

Steve's FB page. https://www.facebook.com/steven.harad?fref=ts

[Keith A]

Originally Posted by sitzmark

Steve's FB page. https://www.facebook.com/steven.harad?fref=ts

Thanks. I must say if the cycling group that just bought my company didn't add it to the list of companies they own...but did update their site with other company they bought...I'd be worried too. Maybe it's just a technical glitch...or maybe not.

[Charles M]

It's worse than that.

That's a glitch on screen (all three companies are listed right now at Divinecycles.com) at this point and kinda incidental.

[pbarry]

beat me to it

[MattTuck]

After the dust settles, I may go pitch this very idea to some faculty here. I'd enjoy (sort of) writing the case study.

Originally Posted by eddief

what a terrible american biz debacle. can you say "ibis"? a great case to be studied by a good MBA candidate. wow.

Nick, I was thinking this very thing. The frame building industry does not have high barriers to entry (relatively) for individuals with the skill. I hope we see some new frame builders out of this, and that former serotta fans patronize them.

Originally Posted by AngryScientist

one thing is for sure, Serotta employed some fine people over the years, then and now. perhaps we'll see some f'builders strike out on their own from this situation, and carry on the skills they learned under the big S.

sad news, hope it all works out for those involved.

Originally Posted by Cat3roadracer

A sad day.

+1

[yngpunk]

Originally Posted by MattTuck

After the dust settles, I may go pitch this very idea to some faculty here. I'd enjoy (sort of) writing the case study.

I think this would make a good case. Has all the things to make it interesting and useful for a bunch of classes...marketing, corporate communications, supply chain, strategy (e.g. judo strategy), operations, probably even managerial accounting.