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(South Jersey Courier-Post)   "We're everywhere," said man who took a pretzel company from bankrupt to over $800 million a year in sales. "And where we aren't, we're gonna be." Bonus: Drops F-bombs in shareholder meetings   (courierpostonline.com) divider line 37
    More: Spiffy, Pennsauken, pretzels, CEO Gerald B. Shreiber, funnel cakes, Minute Maid, Wawa, shareholders, bankruptcy  
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5817 clicks; posted to Business » on 27 May 2013 at 10:45 AM (1 year ago)   |  Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



37 Comments   (+0 »)
   
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2013-05-27 09:54:54 AM
These pretzels are making me thirsty!
 
2013-05-27 10:08:52 AM
I mean, good for him and all, but it was over four decades ago when he bought said near-bankrupt company.
 
2013-05-27 10:55:36 AM
You can have 800 million in sales and still go bankrupt, you know.
 
2013-05-27 11:00:21 AM
Huh, I didn't think Mitt Romney swore.

Are we praising venture capitalists again now that they aren't running against our guy?
 
2013-05-27 11:13:52 AM

Peter von Nostrand: These pretzels are making me thirsty!


Are they a little melty, but damn are they exquisite?
 
2013-05-27 11:23:02 AM

pudding7: You can have 800 million in sales and still go bankrupt, you know.


Exactly what I came to say. The question is income vs debts, gross sales numbers say nothing about the health or success of a company.
 
2013-05-27 11:40:45 AM

1nsanilicious: Huh, I didn't think Mitt Romney swore.

Are we praising venture capitalists again now that they aren't running against our guy?


This guy doesn't exactly sound like a venture capitalist.
 
2013-05-27 11:52:12 AM
I love website that tell me what I have a limited number of visits to their website a month...  like I'm ever going to go there again.
 
2013-05-27 12:09:24 PM
Unfortunately, that page could not be found.Well, ok then.
 
2013-05-27 12:10:22 PM
Unfortunately, that page could not be found!
 
2013-05-27 12:11:25 PM
 
2013-05-27 12:19:34 PM
The best thing about them is they are not bread.

images1.wikia.nocookie.net
 
2013-05-27 12:31:37 PM
did he call them Whitey Whackers?
 
2013-05-27 12:46:31 PM
I like how the article manages to get across the fact that he's a foul-mouthed, employee abusing tyrant without actually saying it in so many words.
 
2013-05-27 01:07:32 PM
I'm sorry but Jimmy Barrett tells me to buy Utz. And I do whatever Jimmy Barrett tells me to do.
 
2013-05-27 01:08:07 PM
Oh and Mods, the link is farked.
 
2013-05-27 01:19:28 PM

TheShavingofOccam123: Oh and Mods, the link is farked.


Fixed now, thanks for the heads-up
 
2013-05-27 01:43:34 PM
"We spent 3½ decades protecting our niches and we don't owe a damn dollar to anybody in this country."

Hey look, an actual businessman, untouchable by the Wall Street MBA's and money changers. Unfortunately I have no idea if he has a successor lined up.
 
2013-05-27 02:04:31 PM

WayToBlue: pudding7: You can have 800 million in sales and still go bankrupt, you know.

Exactly what I came to say. The question is income vs debts, gross sales numbers say nothing about the health or success of a company.


The article says they have no debt. But you guys can keep ragging on the owner because he's an asshole that you've never met, instead of reading the article.

Gecko Gingrich: I mean, good for him and all, but it was over four decades ago when he bought said near-bankrupt company.


Yeah, what an idiot. I'm sure it took you far less time to make hundreds of millions.

Peter von Nostrand: These pretzels are making me thirsty!


These pretzels -are- make me thirsty!

/white-knighting rich business owners, and I don't even watch Fox news or vote a straight Republican ticket. What's this world cming to?
 
2013-05-27 02:18:43 PM
"We're everywhere"

The Savoir Faire pretzel company has been on quite a roll lately.

/can't be that obscure?
 
2013-05-27 02:22:30 PM
Looks like he's successfully fought off the Yakuza.  Good for him.
 
2013-05-27 02:54:58 PM
Here he is with his badly stuffed pet:

www.southjerseybiz.net
 
2013-05-27 03:14:39 PM
Luigi's Italian Ice

So... the rumor was that one of the supermarket brands of Italian Ice was made by a mob-connected company. Anyone know that rumor? Is it this one, or the other big one?

Just curious. It won't influence what I buy, I'll buy anything that's delicious if it's not too expensive.
 
2013-05-27 03:38:43 PM
Oh brother, Farkers can nitpick at anything. The guy bought a bankrupt comany and made it a success. Yet you guys suppose the company could have failed. I wish I could find an investment that would be as successsful as his.
 
2013-05-27 04:56:04 PM
Their pretzels suck.
 
2013-05-27 05:21:07 PM
What kind of idiot thinks cursing at a shareholder meeting is a bonus?
 
2013-05-27 05:44:16 PM
24.media.tumblr.com
 
2013-05-27 06:24:31 PM
Didn't super pretzel release pogs during theit heyday?
 
zez
2013-05-27 09:08:24 PM
I've never heard of this company, is this a coastal thing?
 
2013-05-27 09:55:19 PM
i29.tinypic.com

"We're everywhere."

 
2013-05-28 01:17:43 AM

zez: I've never heard of this company, is this a coastal thing?


They're pretty big nationwide, but most people probably don't know them by their corporate name. Their products that most well-known are Super Pretzel and Icee, but Luigi's Italian Ice and their Minute Maid products are fairly popular as well.
 
2013-05-28 03:07:39 AM
I wish someone like this had stepped in to save Charles Chips. Disclaimer- my late dad was a salesman in porno valley, but they had the best chips and pretzels. They came in a can to avoid crushing. I think thats part of what doomed them- the empty cans had to be trucked back to PA for cleaning, but nobody could do salt and vinegar or ketchup flavoured or even dill pickle  chips, and they had 3 kinds of pretzels in a can.Small, medium and crap, thats a big pretzel size. The old man was an ass, but man- he  knew his snacks / business to choose when we moved from Idaho.
I have yet to find a decent pretzel or pickle chip since 93 or so .
 
2013-05-28 03:08:31 AM
www.5bayside.com
 
2013-05-28 03:23:52 AM
Everything they make tastes like concentrated ass.
 
2013-05-28 06:15:15 AM

alienated: I wish someone like this had stepped in to save Charles Chips. Disclaimer- my late dad was a salesman in porno valley, but they had the best chips and pretzels.  They came in a can to avoid crushing.


Oh wow, now that you mention them, I remember my dad bringing those home sometimes.

/but in porno valley, didn't a lot of things come in cans?
 
2013-05-28 09:33:19 AM

alienated: I wish someone like this had stepped in to save Charles Chips. Disclaimer- my late dad was a salesman in porno valley, but they had the best chips and pretzels. They came in a can...


The are still things produced in porno valley that come in a can.
 
2013-05-28 09:53:30 AM

skrame: WayToBlue: pudding7: You can have 800 million in sales and still go bankrupt, you know.

Exactly what I came to say. The question is income vs debts, gross sales numbers say nothing about the health or success of a company.

The article says they have no debt. But you guys can keep ragging on the owner because he's an asshole that you've never met, instead of reading the article.


That was more of a rag on subby than anything*, although I'm sure Mr. Schreiber will be happy to know that somewhere on the Internet, someone's looking out for him.  It's important not to conflate one person's comments with those of others on the thread -- that could make you seem irrationally angry.

Also, from an accounting standpoint, it's virtually impossible to have a company with no liabilities whatsoever.  If you're particularly well-run, all of your liabilities are going to be short-term accruals for rent, wages, and probably payment for supplies, and they will be easily be covered by revenue in the period in which they are accrued.  A quick look at the company's balance sheet indeed confirms that -- they have ~$68 million in current liabilities and $29 million in "Other Liabilities", which is easily covered by their $211 million in current assets, signs of a very well-managed company.  But it's still incorrect to say "they have no debt".

* Used to work for a company that had $600 million in sales the year it went bankrupt.
 
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