Check out this comment from a Wall Street Jnl story:
.Sun Capital owned Mervyn’s and multiple other stores that have filed bankruptcy. When they go under, many vendors are left with big unpaid invoices. Companies who ship goods to the accounts in good faith. From the point of view of companies who do not get paid, it feels like stealing. They apparently pulled out big monies up front by selling off valuable real estate of Mervyn’s. When the stores fold, Sun Capital may still have earned a nice return. It does not seem honorable. It is painful and damaging for the companies who manufacture and sell merchandise to Sun Capital stores and get defaulted on.
does this sound familiar? Sun (Arch)closing Akron (company selling real estate) Jackson (company selling real estate) Tamarac (company selling real estate) Villa Rica (company selling real estate) and also the other closures including today's news of Tulsa getting shut seems like the MO for these guys. So you wonder if suppliers should be more on their toes here, and while Sun expresses this desire to keep acquiring arent they just doing that to shut more down and sell assets?
I write this because no one else will. And hopefully this post won't get removed. And by the way Bill Stone calling the deal between UGC and Sun a merger may be one of the funniest things I have ever read. Bill and Larry owe PPG for coming out better in public because the CFP was the only thing that saved them from chapter 7/11.
May 12, 2011 - 3:51PM
Villa Rica isn't shutting down...is your info correct?
May 12, 2011 - 4:47PM
it is. Sun owns that building. That makes all the difference. Just like with Jackson, it will take some time before it closes.
May 12, 2011 - 4:53PM
I wonder if they will transfer the VR employees over to TGI or cut them loose?
May 12, 2011 - 5:52PM
they're combining the two ATL-area facilities and getting rid of 120-150 jobs.
May 12, 2011 - 8:21PM
These guys are the biggest liars ever. They tried to trick us Tamarac workers to sign a document that we would not transfer to AWP in Medley. Slowly getting rid uf us 5-10 at a time so they can skirt the WARN Act. Evil truly evil Sun Capital. Arch Tamarac was a family these *******s are destroying us and the industry.
May 13, 2011 - 11:41AM
Turn out the lights the party is over
May 16, 2011 - 6:49PM
Sorry to hear that 'Tamarac'. They pulled the same thing at my (former) plant. As soon as we saw that Sun had bought Arch, we knew it was a goner. They buy places, let them rot, and sell them. It's their MO and a quick search of the handy Internet told us that the day corporate released the purchase info. I'm sorry for all of the other Arch employees that are going through the pain of not knowing/hearing rumors/seeing people leave over, and over, and over again. In a way, I'm glad that it's finally over (for my plant) but saddened still that so many great people lost their positions, and that more are losing theirs daily.
May 17, 2011 - 10:41AM
my my my. What we have here is failure to communicate. When the sun arose over a year ago I invited y'all to check out their M.O. At this point I'm amazed anyone is surprised.
May 24, 2011 - 9:39AM
I'm stunned that there's been no reaction to the Leone softball-fest III this past week. He is getting better at the interviews though. Those soft questions are getting easier for him to locate and hit. Still think he did more harm than good.
What about his comments to usglass in December that the cutting was over? guess not. plus i'm sure the folks in atlanta were thrilled with the way he answered the question of what happens to that branch. (villa rica is toast people)
And so thats why i don't get why he'd even do the interview.
Also as for Sun, does anyone out there realize Sun once overpaid for Carolina Mirror, dumped a ton of cash in them and then watched that crash and burn? how is that forgotten, that the mighty awesome Sun (accoring to Jeff) has already failed miserably and seemingly is headed that way again, no mattter how its spun.
May 24, 2011 - 1:13PM
and now the other shoe drops. Guardian announcing a surcharge on mirror, not long after taking over manufacturing for Arch. No one else sees an unholy union here? Sun/Arch's moves are emboldened by support of the manufacturers like Guardian/PPG. Meanwhile the little guys are gobbled up or run over. Good luck to everyone, the options are dwindling...
May 24, 2011 - 4:07PM
Great point on Carolina Mirror. Frank Busam the interim CEO was the fearless leader of Carolina when they went out,he kept the seat warm for Jeff Leone. I wonder who he is keeping the seat warm for.
The new Arch loses between 1-2 million a month maybe more folks it is ugly and documented suppliers ask for financials. They are blowing every bank covenant thats a fact.
May 24, 2011 - 4:44PM
No way on the bank stuff. I mean no way. Jeff Leone would never, ever lie and he just said in his interview all was great.
He'd never tell a tale would he?
“We’re at a very important moment this month, we’re done with the restructuring,” Leone says to usgn - from December 2, 2010... right before he closed 2 mirror plants and Tamarac, Akron, Jackson, Tulsa and Villa Rica.
May 24, 2011 - 6:39PM
If you all are so unhappy with Arch and Sun Cap, why do you stay? I don't hear anyone speaking of the success stories that Sun Cap has had. Just the negative news. Sun Cap in the business of buying distressed companies. Their "M.O." is not to lose money. But it is a crap shoot and they all can not be winners. With all of the confidential information you folks keep publishing, you continue to discredit this company and erode the confidence of our customers. You speak so highly of the "Arch Family" but if it was not for Sun Cap, you would not even be drawing a paycheck right now. I also noticed the times that you folks are publishing this stuff. Maybe if you would focus on growing the business and not ******** about the business when you should be working, things may be different. And if any of you would like to discuss this with me, you know where to find me.
Where are you? Who are you? Wow. What a post. Maybe if the leaders didn't make comments that all the cuts were done and then close 6 places maybe the whole company wouldn't want to leave....
maybe if the leaders didn't run off a ton of talent and maybe if they didn't cut inventory to the bone and maybe if the leaders didn't try to scam people into quitting instead of dealing with the WARN act, maybe you wouldn't have the world against
Like Jeff's comment on the workers in Tamarc offered a chance to "move to Orlando" yep like that's one city away. Pretty sad.
And believe me if the masses could leave, they would, but hopefully wait til Sun sells the scraps to someone else.
Oh and Jim, customers don't read message boards. Confidence erodes when all the stuff above happens. Only 800 people have viewed this post and 750 are Arch related people. Try and learn the contractors and worknto delight them!!
May 24, 2011 - 9:14PM
A, its thinking like yours that had put this company in the position it was in. You speak as if Arch owes you something. Arch owes you nothing. YOU on the other hand, owe it to the shareholders of Arch and Sun Cap to work as hard as you can to turn this place around. Why don't you sit back for a moment and reflect on your career at Arch? Can you pick out some of the causes that put it in financial distress back in 2009? And dont try to put it soley on the economy. Our competitors are out there winning business, our competitors are out there servicing our customers. You should be greatful to Sun Cap that they kept you employed. Your attitude is not one of someone that wants to see this company succeed. Do the Arch employees that are working hard to make this company as success, and go find another job. Because that it how you come across. This is not a career, its a job. If you want to discuss this with me, you can find me in the Global. Oh, by the way, more customers read these blogs than you may think. A customer actually called me today and told me about this site. I did not even have a clue that my fellow employees would sit around and rip on the people that have pumped new life into a failing company and kept you employed.
My gosh man, relax. I really think usglass should interview instead of Jeff! you bring more passion and better quotes!
Seriously, don't feed the trolls. And i am glad that you have one customer, how did he get to you, switchboard send by accident I assume?
Anywho, I'm not going to argue with you because you are really not seeing this all clearly, but I have to take issue with one comment you just made-
"rip the people that pumped new life in to the company"
Really Jim? You seriously think you and the other delightful guys have pumped new life into Arch while systematically liquidating all you can? Hey the old owners sucked too and theres no love here for them, but they did care for the people-maybe too much and that bit the company for sure, but no way should you go patting yourself on the back on this- the company is in much worse shape now then when Sun vultured in and took it.
And Jim, you think you got morale issues now, wait til the next big acquisition- especially with all the revenge on the minds to terminate all those who had left, yep that will integrate nicely won't it. That and shuttering more locations. Just ask the fine folks at Villa Rica (Jeff said Villa Rica "was" a good branch- past tense. Way to pump the troops up buddy!)
Anyway Jim, keep bringing it- way too good of stuff!
May 25, 2011 - 9:44AM
Well said my friend.
May 25, 2011 - 8:56PM
Wow a few interesting posts got taken down. All I know is I can't wait for Jim to post again!
May 26, 2011 - 7:30AM
Villa Rica isn't shutting down...is your info correct?
May 26, 2011 - 7:31AM
sound like cornfused should have talked to jeff first
"villa rica was a good location"
May 27, 2011 - 12:22PM
The sooner the Arch employees realize that life has changed, the sooner they will accept the reality of their tenuous positions.
Not only will Sun Cap change Arch and its character, it will also change the wholesale supplier landscape. Their MO is to be in the #1 or #2 position in the market. Buying Arch didn't get them there, so now they will buy UGC, try to bet Vitro, and who knows what next.
Sun Cap reminds me of the drunk at the blackjack table who just realized they lost $500 over the last hour. To make up his losses he will bet $500 more. He is the only one deluded enough to think the plan will work.
The next few years will be a great time for regional independents who have managed their cost structure to be in line with the economy.
Sun Capital is nothing short of a cancer to the glass supply end of the chain. The acquisition of Vitro is strictly of "eliminated the competition" motivation and will cost hundreds of hard working, good people their jobs. Don't even TRY to be ignorant enough to make a self entitled reference to "saving" their jobs. And to Jim LaFreniere, don't even speak. The 2 paragraphs you wrote (under the "Sun" post) disparaging your employees after lying and destroying good peoples lives is about as unbecoming of a person in your position as there could be. Simply nauseating that you have the "godlike" attitude you do. It just solidifies my position as customer to not consider any "Sun Capital" version of the supply chain for my business.
Jun 6, 2011 - 4:05PM
Sun will bring a lot to this industry. They have restaurants, bars, and they even sell glass showers online through their American Standard company. Give them some credit for being smart. Hopefully Architro will still be able to 3/8" and 1/2" glass.
Jun 14, 2011 - 2:34PM
Even when things are moving the right direction, there are times when a Black Friday must occur.
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