Re: SARAH BLAKELY SELLS SPANX FOR $1.2 BILLION AND...

Tinkrbl44 · ‎08-23-2010

@DSD2 wrote:
Sarah told Gayle King her decision to sell was a "gut" feeling. She felt it was time but didn't go into specific reasons.

Good for her! It's nice to know that loyalty was rewarded. If only other CEOs/CFOs would take a lesson from her playbook. Dedication is its own reward but bonuses like that surely don't hurt!

She was also on a reality show that Richard Branson hosted for young entrepreneurs some years ago. I don't remember much but she came in second.

@DSD2

ITA, but not every generous act by a CEO or company is widely publicized.

A while back, our company was purchased and they announced internally that various divisions were going to be relocated. Every employee was given the option to relocate with their department, expenses paid, or to receive a severance package. I chose the latter, which was one month's salary for every year of service. I walked away with 8 1/2 months salary as severance and started a new job the following week.

The company even brought in outside consultants to assist employees staying in the area to create resumes, and taught them how to interview. There was also a small additional bonus if you stayed until your department's end date, which eliminated most chaos.

Even though it was the most generous severance I personally had ever seen, I never saw this mentioned anywhere ... ever. Not on the internet, news sites, newspapers ... nowhere.

Pearlee · ‎06-11-2011

@Tinkrbl44 wrote:
@Pearlee wrote:
@Tinkrbl44 wrote:
@Goldengate8361 wrote:
@Tinkrbl44 Absolutely! Yes. They'd rather have cash.

@Goldengate8361

So .... just how many Spanx employees have you spoken to about this? If you haven't done so, you have no idea what they would want.
It was her OPINION. Sheesh!

@Pearlee

Her opinion? Gee, in post #42, it indicates she is POSITIVE, and I questioned how she could know. If it was an opinion, she'd have said "I think" or something to that effect, which she didn't do. She said "absolutely". Perhaps you should brush up on your reading comprehension.

BTW, I was communicating with Goldengate, and why you think you need to intervene on her behalf indicates you don't think she's capable. Shame on you. Sheesh.

@Tinkrbl44 😂😂😂

She put me on retainer. 😛

@Goldengate8361 😉😄

Tinkrbl44 · ‎08-23-2010

@Tinkrbl44

She put me on retainer.

@Goldengate8361

You should demand a refund. LOL

KatieB · ‎03-10-2010

@Mmsfoxxie wrote:
I bought one pair of those things and realized that I wasn't into torturing myself for the sake of vanity. And I had went up a size, too!

@Mmsfoxxie I agree, those things are torture. I don't know how anyone could wear them.

Lipstickdiva · ‎03-10-2010

@Tinkrbl44 wrote:
@Lipstickdiva wrote:
I think everyone knows the employees have to pay taxes on the gifts, even the value of the airline tickets. The more they get, the more they pay.

It's still a gift and was very generous of Sarah who didn't have to do anything. Had she given them all just cash to buy airfare anywhere they wanted to go, how many of them would have done it? I'm guessing many, if not most, would have used the cash for other things and never went anywhere.
@Lipstickdiva

ITA .... and I don't know why people are assuming no one would know that. It's common knowledge, not some big secret.

Anyone who has ever paid taxes would already know this, unless they are incredibly stupid.

Even if they didn't already know this, sooner or later they'd check with someone. I hope.

@Tinkrbl44 they would find out when they got a 1099 for it. LOL

My sister "won" a trip through work and she rec'd a 1099 for the value of the trip.

Duckncover · ‎07-16-2021

I would have been happy to have recieved such a parting gift when I retired....I still think it was a very generous thing for her to do for her employees

gertrudecloset · ‎02-13-2021

@hennypenny wrote:
Not a fan of Blackstone, but my first thought was that her new competitor had bought her out to eliminate competition.

@hennypenny which "new competitor?" She joined a crowded field when she came out with spanx.

A Negative Mind ~ Will give you a Negative Life

Goldengate8361 · ‎01-27-2014

@Pearlee my post is not a negative spin at all. It is an opinion like every other post on this forum. It is narcissistic to assume, as Ms. Blakely apparently does, that everyone would want such an "experience." Some folks do not like to travel at all. There is nothing wrong with that at all. I stand by the original statement tbat, indeed, most employees prefer cash.

Calishopper21 · ‎11-26-2011

... did you know IT Cosmetics has been owned by L'Oreal since 2016? Jamie Kern Lima sold the company to them.

... and did you know Tarte has been owned by Shiseido for years?

I wish QVC would be transparent when these changes are made and these beauty product companies are sold to massive corporations.
Stay tuned ... maybe Josie Maran will be the next to sell her company and make millions!

Pearlee · ‎06-11-2011

@Calishopper21 wrote:
... did you know IT Cosmetics has been owned by L'Oreal since 2016? Jamie Kern Lima sold the company to them.
... and did you know Tarte has been owned by Shiseido for years?
I wish QVC would be transparent when these changes are made and these beauty product companies are sold to massive corporations.
Stay tuned ... maybe Josie Maran will be the next to sell her company and make millions!

@Calishopper21 I disagree. I don't see why QVC has to give that information. As long as they don't make false statements they have no obligation to tell us a company has been sold.