Monday, May 08, 2006


Okay, I used to work on the Winn-Dixie account at a local advertising agency turned technology company. I've become fascinated with the how poorly Winn-Dixie is running their company. (Or how well they are running it if by “running” you mean “into the ground.”) After filing chapter eleven over a year ago, they still don’t have a plan for emerging from their dismal financial state. And for some reason, the judge keeps extending the deadline to file a plan.

So, to satisfy my fascination with this train wreak, I check their Pink Sheeted stock price pretty regularly. I also check the Google News pretty frequently too. They just can't seem to get their act together. If it's not just their typical, everyday bankruptcy woes it's some tangle over illegal possession of lobsters. Or getting busted for illegally importing chickens. Or when cardboard containing pornographic images was being used in the packaging for checkers games being sold in their stores. Poppersmoke wisely suggested that maybe their first step toward recovery should be to implement a rule to not break any laws for a while.

Really the only thing resembling a plan has been the fact that they keep closing stores and pulling out of markets in an effort to stem the bleeding. To which Poppersmoke, paraphrasing WD’s attorney, said: “Yes, the creditors certainly could sue our pants off. But we're down to our last pair. So, uh, how about a compromise?”

0 Comments:

Post a Comment

<< Home