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Nash-Finch Company Message Board

  • nonkulture nonkulture Oct 8, 2013 8:53 AM Flag

    Nice parting gifts

    With the recent news of the millions of dollars of severance "parting gifts" given to departing executives, is it in question what the motivations were of management? Clearly Nash Finch was treading water at best. Alec's grand plans left the company with underutilized distribution centers and bloated corporate management( oh those "headwinds"!). For years he relied on the MDV to carry the load but now there are competitors nipping at the heels and stealing business forcing NF to lower margin to maintain business. That is enough motivation for the board and senior execs to "cash out" and allow the smaller Spartan be the dominant party in the "merger". If you currently work in Edina, you should be a bit nervous. The $50m in savings is going to come from somewhere and it probably isn't going to be too much in Grand Rapids.

 
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