Remember when you were in junior high and the toughest kid in school seemed like the toughest kid in the world? That's what this discussion of Tim and Art reminds me of. Remember that tough kids's first week in high school, when he got his ass kicked by the 25th toughest kid from the other junior high?
Point is, these guys might have been awesome at the 5-10 unit level due to their tendancy to micro-manage. There were still sufficient hours in the day and weeks in the year to spend time managing "hands-on". Quote: "first time I met Tim he was scrubbing the floor in his dress pants."- while a noble jesture, a complete waste of time for the COO, and some may argue that this type of behavior would be a key factor in missing the "big picture".
Instead of reading the opinions of the board, which while insightful, are nonetheless still conjecture- contact current management; they are very happy to speak with shareholders and very upfront about the business and it's history.
Lets see how much this is like junior high when the IRS concludes their audit of GCFB. Former and current partners recently received packets from an outside firm with a cover letter penned and signed by HR head Liz Severence pleading for cooperation with the investigation. After being screwed time and again at the store level on our P&L's (for instance, mug club transactions that were witheld over a period of years that suddenly hit the P&L's one week because Aloha wanted their cash), never seeing a partnership bonus, and being dragged through the mud on more than one occassion by upper level management... you think there's going to be a lot of cooperation? This part should get interesting. Go invest in popcorn, nuke a bag of your favorite Reddenbacher, and enjoy the show.
And just what exactly would the IRS have to do with a potential lawsuit by disgruntled shareholders? What are they going to do - borrow money on their line of credit? You can't squeeze blood from a turnip.
Luckily since these clown-punchers have never come close to turning a profit there won't be any Back Federal taxes due, and if there was fraud we may get a whole new set of management. Given this information I reiterate my previous statement.
By the time stores 6 and 7 opened, Tim was out of Ops. He was at corporate running IT (he has an advanced computing degree), designing new stores, scouting locations, etc. Smokey Hughes was brought in from TGIF because he had experience running larger operations. He was Sr. VP of Ops, Eric was Jr. VP of OPs. Smokey is gone and Eric was demoted to DO. Not much to figure out there. Darius is now the key. Can he make he right moves? Can he get Eric on board this time? Can he temper Steve's edicts to make them operationally friendly. Only time will tell.
<<Point is, these guys might have been awesome at the 5-10 unit level due to their tendancy to micro-manage. There were still sufficient hours in the day and weeks in the year to spend time managing "hands-on".>>
On the surface I'd like to believe that. However, if I remember correctly, didn't Tim have high volume operations experience?
Regardless, until someone talks to somebody who really knows what's going on, conjecture is all we have.
Obviously there were major differences in opinion on stragtegy, both at the store level and at corporate. My guess is that the guy with the most skin in the game wanted a different strategy.