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Businiess name:
Lydia Cladek Inc
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Review by:
citysearch c.
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Review content:
As a former investor, I've experienced the good and bad and also keep close contact with a few key employees.
The owner has good intentions, but surrounds herself with a number of key personnel who can best be described as yes people with no industry experience. They called in some hotshots recently, but seems that they are playing the same game as a reportedly clueless COO and other Marketing reps who are more concerned with their position than the company's future.
The company basically got too big for its britches when the economy was booming, buying too aggressively against the advice of 2 previous Purchasing managers and a few other employees. As a result, they were way too immersed in sub-prime and paid the price when economy got tough.
I remember a few employees (Kevin, Lori, Cristy, Matt,...interesting that they've almost all left the company...) who strongly recommended for YEARS that they diversify their risk, but there seems to be a culture of 'affirming' what they want or expect with no regard for reality.
In late 2008, it was interesting to see that the purchasing department suddenly began avoiding obligations to their dealers...and months later the whole department was shut down with key personnel, including the department manager, were AWOL. Rumor is that they were made collectors!
When asked for investments returned, many investors like myself, were asked to reconsider or accept a monthly payment plan instead. In some cases, these compromises were stalled further.
I still keep in touch with some employees and investors, and while they've been forced to sign 'Confidentiality Agreements', there is obviously a lack of confidence in management and future of the company.
I wish them well, but cant explain why a few bright, honest people are buried in meaningless positions while the same old people remain in the ivory tower with the fine lines of ethics being erased each day. Be careful!
Pros: good intentions
Cons: Incompetence and lack of character with many key employees
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