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I don't have any inside information about this and no specific reason to worry about it. That being said, I don't love that an organization with a crazy amount of power over our industry is getting passed around every few years like a big hot potato.
It would seem to me that this is a great time for the big power players to promote the changes they would like to see in the industry. Generally speaking, corporations are the most vulnerable when they are going through the acquisition process. There is a 12-18 month window of opportunity here for the right people.I don't have any inside information about this and no specific reason to worry about it. That being said, I don't love that an organization with a crazy amount of power over our industry is getting passed around every few years like a big hot potato.
more importantly so, the squeeze that happened between and the result for customers.I don't have any inside information about this and no specific reason to worry about it. That being said, I don't love that an organization with a crazy amount of power over our industry is getting passed around every few years like a big hot potato.
more importantly so, the squeeze that happened between and the result for customers.
Charlesbank and friends pumped an extra billion out of VB in the last 4 years. I was there for 3 of those and much of that time was frustrating as we spent time maxing profits and cutting the fat. And after the sale, none of those employees get that added Bil, which is a stinger on top of the chaos.
bingoGym owners (and coaches/athletes/etc) have absolutely felt that squeeze as well with higher entry fees, etc. Combine a genius-level martketing push towards Summit and a (practical) monopoly on the event side, they can raise the entry fees without much fear of short-term reprisal. Many things make more sense now, with the push for profit-now at the possible expense of the long-term health of the industry or their image. If your main goal is to boost temporary profit and cash out, that leads to different decisions than trying to grow a healthy industry with great relationships with competitor businesses, customers, and vendors 20 years down the road.
I don't fault a private company for maximizing their profits, but that doesn't mean that we have to admire them for it or trust their overall motives going forward. (FWIW - There are many folks at Varsity that I absolutely love.)
I don't fault a private company for maximizing their profits, but that doesn't mean that we have to admire them for it or trust their overall motives going forward. (FWIW - There are many folks at Varsity that I absolutely love.)
I agree and disagree. I truly don't believe anyone had the proverbial "wool" pulled over their eyes...It was just easier to play naive and reap the profits.And this in a nutshell has been one of the central issues many have had. Sure be a business and maximize profits. Do what a business does. But stop lying to those who supported for OTHER reasons. That was not business, those were many many lies told over many many years. For years they played on the strength of personal relationships to advance their business agenda while begging those who weren't supportive to just trust their friends (you know ___wouldn't be here if we were doing that) that worked for the company and elevate that above the companies actions.
When non disclosures expire, people grow a back bone or they get drunk - the things told are scandalous on so many levels.
What are you talking about? What gym owners tried to take control of the industry?I agree and disagree. I truly don't believe anyone had the proverbial "wool" pulled over their eyes...It was just easier to play naive and reap the profits.
ETA: never seen a bunch of folks grow totally silent the way gym owners did a few years ago after their futile attempt to "take control"
I didn't say "industry". I said "control" Think back to the dawn of the "Champions League"...What are you talking about? What gym owners tried to take control of the industry?
I didn't say "industry". I said "control" Think back to the dawn of the "Champions League"...