I think Weber's real problem is the fact that they were sold to a PRIVATE EQUITY FIRM, BDT Capital Partners, in 2010. Since then, the shift has CLEARLY been maximizing profit first, quality second. Finally about Private Equity Firms. They're the lurking shadow running our modern economy.
Excellent point on ownership - everything flows from the top.
I clicked the link, and, naturally, the site has several quotes from previous majority shareholders (now minority shareholders) gushing about how BDT Capital Partners "hasn't changed the culture" or "doesn't sacrifice quality", etc. Having been on both sides of buyouts (several as the private equity company's auditor and once as the acquired accounting firm of a larger firm), I can assure you that BDT has three main objectives with any company it acquires: 1) make money, 2) make money, and 3) convince customers that nothing has changed. I've never seen a business owner execute a deal with a private equity firm and then NOT say it wasn't the best thing to have ever happened to the company. It's all PR, and it's all BS. All acquired companies are tinkered with by their private equity firms (costs, people, culture, logistics, pricing, policies, etc.) to make them profit centers. Weber is no different.
