“...Then some MBA decided they could cut expenses and raise prices.
The bottom line looked good for quite a few quarters, and that’s all that matters, isn’t it?...”
Agreed. The MBA probably got a raise & promotion out of it too. Then, moved on to another business to destroy.
NEVER let an accountant (bean counter) or a lawyer run your business IF you want to stay in business. Let em count the beans and provide legal council but don’t EVER let em manage anything else.
Sears, with the right management, could have been competitive with Amazon today, but they chose not to.
Never go Public. If you are anywhere near successful the Wall Street investment houses will snap up huge chunks of your stock and then dictate the operations of your business.
Those Wall Street millionaires and billionaires have no idea how to run a company. They only know how to milk near-term profits to benefit themselves then declare bankruptcy and walk away with even more money while they company folds.
No matter what folks say that is part of the reason Sears folded as they were bought out. Also, you can see Toys R Us and other major companies who were totally trashed by the Harvard MBAs putting instant cash in their pockets while gutting the business. Cabela's almost went that way but Bass Pro actually saved them.