Gander Mt. - What everyone should know.

[snmann]

I didn't write this but am a stock holder & couldn't agree more!!


Investors are being squeezed by the GMTN Insiders. Disappointed in the lack of ethics in taking GMTN private by and on behalf of the insiders who control it. It is grossly unfair that they sold stock 5 years ago at $20.00 per share (keeping one-half of the Co. for themselves) and now that the Co. is well positioned with over 100 stores opened and internet sales in place, they are GREEDY enough to squeeze out the little guys that took the risk by only giving them 25 cents on the dollar they invested ($5.15 versus $20.00), keeping the other $75 million for themselves. Pure manipulation is clearly evident. Hope the SEC and other governmental agencies make an example of these low life scoundrels with just another ponzi scheme---Remember the old sayings "What goes around comes around" and "the Hogs get NONE"!
Hope all readers will take note and make sure all your hunting and fishing associates know what kind of people own this business and stay away from their stores and products. I disposed of my GMTN stock today, as I'm not for spending good mmoney on attorneys to fight this battle......Good riddance GMTN!!!

[ttousi]

said it before & I'll say it again.........the "goose" sucks

[1911fan]

I didn't write this but am a stock holder & couldn't agree more!!


Investors are being squeezed by the GMTN Insiders. Disappointed in the lack of ethics in taking GMTN private by and on behalf of the insiders who control it. It is grossly unfair that they sold stock 5 years ago at $20.00 per share (keeping one-half of the Co. for themselves) and now that the Co. is well positioned with over 100 stores opened and internet sales in place, they are GREEDY enough to squeeze out the little guys that took the risk by only giving them 25 cents on the dollar they invested ($5.15 versus $20.00), keeping the other $75 million for themselves. Pure manipulation is clearly evident. Hope the SEC and other governmental agencies make an example of these low life scoundrels with just another ponzi scheme---Remember the old sayings "What goes around comes around" and "the Hogs get NONE"!
Hope all readers will take note and make sure all your hunting and fishing associates know what kind of people own this business and stay away from their stores and products. I disposed of my GMTN stock today, as I'm not for spending good mmoney on attorneys to fight this battle......Good riddance GMTN!!!

They did not sell it at this price, PEOPLE BOUGHT it at this price, even when many were already saying this makes no sense.

They are not well positioned on the internet, as they have only recently (within the last year) started internet sales, as it took a long time for the Courts to decide if the non compete clause over catalog sales extended to the internet, this coming from the original buy out of the old Gander Mtn operations by Cabela's back in the 80's.

They have opened nice stores, but also closed a few, and some like the one in forest lake, are poorly positioned re the interstate to snare those passing cars as they head north. If you are towing a boat or wheeler trailer, getting in and out of the Forest Lake store can be a nightmare with the traffic patterns, and its west of the freeway location. Gander like Home Depot, ran its operations on expansion and have both waded on to thin ice regarding their future.

[Pat]

Evert time I drop by their MG store, there is somebody new and unenthusiastic behind the gun counter.

[mmcnx2]

The process of going public, which is what they did when they offered at $20 and you bought and they retained controlling interest, is how the process works. If things go well and the price rises they have a 2nd offereing and sell another 25% typically. If things go bad, as in the case of GM, they do a repurchase and go back to being private. In some cases, which was an potential option with GM, if they wait to long the banks end up owning it and they do a 3rd party sale for the just the debt and the stock holders get zero.

Welcome to the world of stocks. If y folks don't know the game people should really not buy stock based on liking the products or the retail experience. That was much like folks that bought Bestbuy.com stock(which was a seperate company from bestbuy) They lost 80%+ on there investment becuase they thought heck bestbuy is behind it, well they invested in it also and they did end up buying it out in the end. But in the process folks lost a ton of money paying to help bestbuy get their current website up.

I've been involved in one public offereing that made me a nice piece of change, as in bought me a new bassboat, put my kids in college, and alittle in savings to weather a storm. I've also been in one that cost 300+ people their jobs, myself included, when it went back to being private and 1/10th its original size. Thats why the market is the market.

[Eghead]

Gander actually is not publicly traded any more. they have went back to being private and won't be selling stock anymore. They hope that will be better for the store, i.e. more employees, better pay, less middle men in corporate, etc.

[1911fan]

It has been my experience that if a company can at all avoid going public, they should. I have worked for two publicly held corporations, and both have been whip sawed by the "Street", trying to meet expectations, fulfilling a lot more paper work requirements, on one side one faction of the "Street" said quarterly earnings, no matter what. If we worked for that, another side posted warnings about us only looking short time and not being positioned for long term growth.

Its the same with any Company who goes public, you are open to the wims of people who have no involvement in the company, no involvement in the planning meetings, or in the real operations of daily business. Most of these people are dumb as rocks when it comes to running a real company in a real world, and have never done anything like it all. I found it comparable to running your family on the whims of a toddler. Except the toddler occasionally comes up with a rational idea.

I know this a pretty harsh view, but my experience shows that if you can do anything to keep a company private, thats going to be your best bet, unless you are just cashing out and don't care for your employees.

[yukonjasper]

I agree with MMCNX2. There are no guarantees when you buy stock. If you don't understand how it works, stay out. Part of the reason we have had the market "corrections" is because investors who don't know what they are doing, overvalue stocks. They don't understand the fundementals and they don't understand the risks. obviousl at $20 that stock was overpriced. it never regained $20.

Capitalism is a rough and tumble system. People get hurt. It's the thought that somehow your entitled to a return greater than your investment that pays a lot of Attorney mortgages. The fact that people whine about getting their A** handed to them is exactly why the government feels like they need to get involved - bad idea. The majority partners are owed whatever they can negotiate, they don't owe you because you gave them $20 5 years ago.

Suck it up and deal with it. If you don't like Duck Hill, then don't shop there, but don't cry to me that I shouldn't just because your feelings are hurt. Your entitled to your opinion as I am to mine, but it frosts me when people call for a boycott because of some stupid mistake they made. No one cried for me when I took hits on numerous stocks. I would expect anyone to stop using SunMicrosystems or Cisco products. Get real.

If you want guaranteed return, buy CDs and deal with the 1.3% interest. Risk = reward, sometimes you lose.

The Era of personal responsibility is long gone, I guess.

By the way - The Packers Suck (gratuitous jab at no one in particular)

[MostlyHarmless]

1) You buy stock in a company, you win or lose depending on the company's fortunes, the economy, the sector, and the direction of the current herd instinct on the street.

2) If you are a minority shareholder, win or lose, you'll probably end up being treated less fairly than you would in other circumstances. Human nature.

3) You got 80% more than the prevailing market price when the deal was announced so I wouldn't be complaining if I were you. If I got a deal that good on every minority share I've owned I'd be up a new F-250 4x4 and a pretty nice cabin in the woods from where I am today.

[shadeslanding]

I didn't write this but am a stock holder & couldn't agree more!!


Investors are being squeezed by the GMTN Insiders. Disappointed in the lack of ethics in taking GMTN private by and on behalf of the insiders who control it. It is grossly unfair that they sold stock 5 years ago at $20.00 per share (keeping one-half of the Co. for themselves) and now that the Co. is well positioned with over 100 stores opened and internet sales in place, they are GREEDY enough to squeeze out the little guys that took the risk by only giving them 25 cents on the dollar they invested ($5.15 versus $20.00), keeping the other $75 million for themselves. Pure manipulation is clearly evident. Hope the SEC and other governmental agencies make an example of these low life scoundrels with just another ponzi scheme---Remember the old sayings "What goes around comes around" and "the Hogs get NONE"!
Hope all readers will take note and make sure all your hunting and fishing associates know what kind of people own this business and stay away from their stores and products. I disposed of my GMTN stock today, as I'm not for spending good mmoney on attorneys to fight this battle......Good riddance GMTN!!!

I was going to stay out of this thread since we teach at several Gander Mountains and BTW - I've never owned any of their stock. So I won't discuss the issues as I see them surrounding the buy back of Gander Stock other than to say that the obligation of ALL companies (private or public) is to return profits to their investors. The only time I've ever seen "scoundrels" is when companies fail at delivering profits to the share holders through their own misdeeds and scandals (i.e. Enron, Global Crossing etc.) and there is no evidence of any of that going on here.

I'm rather surprised at the venom contained in your post (I realize you say you did not write - but you did say you couldn't agree more with it also). Many of the original management at Gander were replaced long ago with a management team from an unrelated industry.

And as far as them pocketing the difference between $20 a share and $5 .... the stock has not traded at $20 since opening day. Or at least since October of 2005. So I'm not really sure what stock market ticker your looking at. A year ago the stock was hovering just above a buck. So if I were a share holder - $5 would seem pretty reasonable at this time.

Also note that the $20 price tag the stock opened with in 2005 was most likely an institutional price. And though it out performed the $20 opening price for a couple of months, it has never even come close to those couple of months back in 2005.

It's really easy for someone to slam those terrible greedy capitalistic corporations who are only out to make a buck until you realize that it is that exact reason that ANY for profit corporation exits. And while small or large companies can be greatly philanthropic (look at Target for example), it TAKES MONEY to be philanthropic.

A good movie to watch sometime is OPM with DeVitto. It puts it in perspective.

GS

[justaguy]

somebody new and unenthusiastic

In all fairness you might just have that effect on people.

[Pat]

somebody new and unenthusiastic

In all fairness you might just have that effect on people.

That just means that you're getting to know me better.

[R.E.T.]

The most basic rule about investing in the stock market is, do not invest any money that you cannot afford to lose.

[justaguy]

The most basic rule about investing in the stock market is, do not invest any money that you cannot afford to lose.

I thought it was buy low, sell high.

[snmann]

I didn't know it was buy low, sell hi.

I thought it was buy stock in companies where I spend all my money. I bought Cabela's stock too when it went public in 2004 I figured one of the two would make it. Kids didn't need to eat anyway.