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Honored Contributor
Posts: 13,954
Registered: ‎03-10-2010

Re: Honora since their sale to the Richline Group

When these companies are sold to large investment forms like BH, the debt involved in the sale goes right onto the bottom line of Honora, NOT BH.

They pay off the former owners, of course...but it is on Honora's books.

So they need to trim staff, cut corners, increase sales to make up that massive debt.

If they can't, they will go into bankruptcy and get sold again...BH doesn't assume any liability.

That's how venture capitalism works...and why quality and customer service is going down.

The same think will happen with the Comcast/TW deal. Someone will be paying for the 80 million going to the TW CEO...and it won't be Comcast - it will be the public that uses their cable company - lower customer service and higher prices.

Super Contributor
Posts: 1,219
Registered: ‎12-28-2012

Re: Honora since their sale to the Richline Group

On 5/25/2014 terrier3 said:

When these companies are sold to large investment forms like BH, the debt involved in the sale goes right onto the bottom line of Honora, NOT BH.

They pay off the former owners, of course...but it is on Honora's books.

So they need to trim staff, cut corners, increase sales to make up that massive debt.

If they can't, they will go into bankruptcy and get sold again...BH doesn't assume any liability.

That's how venture capitalism works...and why quality and customer service is going down.

The same think will happen with the Comcast/TW deal. Someone will be paying for the 80 million going to the TW CEO...and it won't be Comcast - it will be the public that uses their cable company - lower customer service and higher prices.


Oh yes, and there's that also.

Super Contributor
Posts: 4,222
Registered: ‎06-23-2013

Re: Honora since their sale to the Richline Group

On 5/25/2014 terrier3 said:

When these companies are sold to large investment forms like BH, the debt involved in the sale goes right onto the bottom line of Honora, NOT BH.

Who is BH?

Never mind, Berkshire-Hathaway.

I don't think Honora sold because they were in financial trouble. I think they sold because it's a good time to get out of the jewelry business.

I didn't know Richline also owns Michael Anthony and Sajen.

Super Contributor
Posts: 486
Registered: ‎04-14-2010

Re: Honora since their sale to the Richline Group

On 5/25/2014 ennui1 said:

I'm trying to decide of social media and pearls really go together. Mollusks don't turn on a dime to meet the whims of the trendy.

EVERYTHING and social media! Mikimoto, Pearl Paradise, TPO, JCK, and more companies are there in force as well, just to mention some of the well known names in the pearl world. But it's everyone, from canned spaghetti, insurance companies, big box retailers, world recognized medical facilities (think Mayo clinic) to city governments. And it's no longer B2C (business to consumer), the B2Bs (business to business) have found it to boost their relations as well. It is no longer a novelty, it is the norm, and part of doing business in today's world.

Super Contributor
Posts: 4,222
Registered: ‎06-23-2013

Re: Honora since their sale to the Richline Group

On 5/25/2014 jetts_mom said:
On 5/25/2014 ennui1 said:

I'm trying to decide of social media and pearls really go together. Mollusks don't turn on a dime to meet the whims of the trendy.

EVERYTHING and social media! Mikimoto, Pearl Paradise, TPO, JCK, and more companies are there in force as well, just to mention some of the well known names in the pearl world. But it's everyone, from canned spaghetti, insurance companies, big box retailers, world recognized medical facilities (think Mayo clinic) to city governments. And it's no longer B2C (business to consumer), the B2Bs (business to business) have found it to boost their relations as well. It is no longer a novelty, it is the norm, and part of doing business in today's world.

I'm not on social media, and yet somehow, I still manage to function. Do I really need FB to keep up with canned spaghetti? {#emotions_dlg.laugh}

Besides, hasn't FB run it's course? Aren't we ready for the next great invention?

Regular Contributor
Posts: 196
Registered: ‎10-26-2011

Re: Honora since their sale to the Richline Group

Want great jewelry go to Blue Nile.com.
Valued Contributor
Posts: 904
Registered: ‎03-09-2010

Re: Honora since their sale to the Richline Group

Interesting thread. It seems that deteriorating customer service is becoming the norm with a good number of companies lately, but not all. And I will choose to spend my dollars with those who stand behind their products and respond to me when I have a concern or a complaint, either by email or phone call.

The prices of many consumer commodities has risen dramatically, so yes, many companies are struggling to make the profits they once did, and are being bought out by larger entities that are providing capital and expecting a return. Product development and the way business is done may change, but alienating customers is not the way to be successful. I haven't bought any Honora in quite a while, and couldn't figure out why nothing was appealing to me. Maybe the change in direction caused by the new ownership had something to do with that.

Regarding social media, sorry, it is here to stay. If not facebook, then twitter or instagram. Companies will reach out to customers and its market anywhere and everywhere it can, and if smart, it will go both ways.

Honored Contributor
Posts: 13,010
Registered: ‎03-10-2010

Re: Honora since their sale to the Richline Group

ennui1, isn't this board a form of social media? Sort of? I just cringe whenever I hear any of our QVC companies have been sold. I guess I'm thinking mainly of beauty companies, but it hasn't turned out well for lines like Ojon.

Contributor
Posts: 37
Registered: ‎04-22-2012

Re: Honora since their sale to the Richline Group

On 5/25/2014 Londos6 said: jetts_mom, I agree 100% with what you are saying. While it is understandable that things will change when a company changes ownership, Honora's on-going involvement with their customers via social media and their outstanding customer service were things that set them apart from the crowd. In this day and age it was like a breath of fresh air to find a company that actually cared about customer service. Sadly, I agree with you. It seems those days are gone. I guess we shouldn't be so surprised at that.

Exactly!

Super Contributor
Posts: 486
Registered: ‎04-14-2010

Re: Honora since their sale to the Richline Group

I'm glad to know I'm not alone. I still love Honora and always find something that catches my eye. Like Londos said, their outstanding customer service and customer interaction was so refreshing in this day and age. I can understand if they had to do what they had to do to survive, and I'd sure rather see them continue on however they have to, than possible other alternatives.