Originally Posted by
John Keeton
Steve, I agree with the disappointment, but not the conclusion. Many of these threads express discontent with a publicly held company because of the sense of betrayal to its customer base.
However, the mentality of such a large company is much simpler. They have one purpose - to produce a profit for the owners (the stockholders.) If you have investments, you can probably appreciate that. I haven't, and doubt that many have, looked at each company held in my mutual funds to see which produces only a quality, high-end product. I want them to make money in an ethical fashion. That is why I own that stock. I wish I could afford to own only those companies that eaked out an existence remaining true to their customers, notwithstanding a less than glorious profit picture. My family needs won't permit that.
In this situation, the sad part of the equation is that as a society we have become complacent with mediocrity. B&D is simply marketing to that demographic. It isn't evil nor dumb. It is smart and serves their end purpose - profit. If it becomes fraudulent (i.e., an inferior product marketed as quality with a quality price), then it is greedy.
Americans have acquired a disposable mentality. Just look at the stores that have survived this downturn - they are the discount vendors.
This bodes poorly for those of us that desire quality and will pay for it. But, I don't think we can blame the companies. Society perhaps, western greed perhaps, conspicious consumption perhaps?? Probably many reasons, but I hate to see it taken out on the companies.
All of this does make one appreciate the few, the proud - companies like Lee Valley, Lie Nielsen, and many others whose names we see come up on the creek. I think the answer is to patronize those that aspire to the quality you seek, and that offer more than a profit driven business plan. Those companies are going by the wayside in droves and without our support, it won't be long before they will be a memory.
Having said that, I do appreciate these type of threads to the extent that they communicate to others the decline in quality of a company's products. I won't buy from them, but the market tells me that many will - and that is what they are counting on.