The Death of Sidney, Nebraska (Cabelas)

[Mike Van Horn]

I read that some of Cabelas staff started new companies: Highby outdoors, and Nex Gen outfitters.
Also MMP Enterprises announced they are taking over the former cabelas building and there will be 155 new jobs.
Read this in a Nebraska news paper, dated April 2019

 

[dtec41]

Just wait until the hedge funds get into farmland. Goodbye cheap food.

They are already in the commodities markets. The algorithm and technical trading has surpassed supply and demand in importance to commodity price.

 

[Rimbaud]

The average tenure of a CEO of an S&P 500 company is about 4.4 years. A CEO job is an opportunity for a guy to create massive wealth in a short time. Hence, CEOs tend to make decisions that benefit their stock price, which impact stock options, etc. Sometimes, these guys stumble and hedgies step in. It's a ruthless process.

 

[Philip Glass]

Yep not good! After dumping their "new" card and not shopping there at all after the BPS purchase, I had a moment of weakness about a week ago. I bought a so called "work" vest by Red Head. The lady that handled the order over the phone was nice enough... ok. The item arrived in about a week.... ok no problem. But I would say that $40 purchase worth no more than about $20 max! The cheap, relatively low quality type of thing that can be shopped at any number of places around the net. Matter of fact, everything I saw when perusing their site could be had for less most anywhere on the net. That's it for me. Cabela's hah!- just a memory.

It is sad all the low quality Cabelas brand merchandise. The point of the big destination retail stores is that you can shop. You can’t shop if all they have is Cabelas brand!
I do believe the big destination retail stores have a place and can be good for business even in the Internet age. But they have to have options for the customers!
Philip

 

[CAustin]

Sad. Big companies change when the founders pass on. The vision and mission of the founder is not always maintained by the successors. Once wall street becomes the vision everything goes out the door in search of that “return on invested capital”. We all knew when Bass Pro bought up Cabela’s .....consolidation of functions between the two entities would commence in short order. You don’t need two headquarters/home offices and I was sure Johnnie Morris would not be moving to Nebraska.
We only need to look across the South to see where textile operations were moved over seas and towns died.
Best wishes to the people in Sidney NE.

 

[Foxi]

" The more time I spent on Wall Street the more cynical I became. What a ridiculous way to make a living."
sadly true

 

[lwaters]

Sad. Big companies change when the founders pass on. The vision and mission of the founder is not always maintained by the successors. Once wall street becomes the vision everything goes out the door in search of that “return on invested capital”. We all knew when Bass Pro bought up Cabela’s .....consolidation of functions between the two entities would commence in short order. You don’t need two headquarters/home offices and I was sure Johnnie Morris would not be moving to Nebraska.
We only need to look across the South to see where textile operations were moved over seas and towns died.
Best wishes to the people in Sidney NE.

Charlie your right. Look at Walmart it's no longer Sam Walton's company. We he had it it was a decent paying job and he did try to buy American made products. A lot of their employees now qualify for Medicaid and the store full of Chinese crap. The stock doing great.

 

[Shootist43]

I too lament the demise Cabela's has suffered after being bought out by Bass Pro. You could get quality outdoor gear at a reasonable price. Before Cabela's I didn't know they made anything better than thermal knit cotton long johns. I can honestly say that over the years I spent a young fortune there. I went there recently to find nothing but crap. When I asked about some of the things I used to get there, all I got was a blank stare. What I didn't know was why Cabela's sold out, ..... till now.

 

[DrBob]

The Cabelas offices were closed by the owner of Bass Pro. He did not have to close the center..... The management of Cabelas probably got golden parachutes. Of the two, I have seen Bass Pro of US local-yokel and Cabelas as international in flavor.

 

[Tundra Tiger]

I remember Cabela's fondly from my college days at Fort Hays State University (late 80s). We'd road trip to games at rival Kearney State, stay overnight, and shop at Cabela's the next day. We didn't have a lot of money back then, but the Bargain Cave at Kearney was a monstrous treasure trove. We'd buy what we could and dream about buying what we couldn't. Shortly after graduation, I moved to AK, where I've mostly been over my adult life. IMHO, the Cabela's gear was AK tough. The BassPro crap never was. A sign the end was near was watching the online Bargain Cave offerings dry up to almost nothing, and what little was there was Redhead junk. Also, used Cabela's stuff on eBay has soared in price since BassPro took over. When I travel to Anchorage I don't even bother going to Cabela's. If I need something I'm more likely to hit Sportsman's Warehouse.

Certainly all good things come to an end. It's just a shame Cabela's wasn't there a while longer.