Today's economic schadenfreude is a two-fer!
Denny Hecker, scumbag, burnt out, loser middle age man that never had any real business skill or acumen is not only raided by the authorities, but decides to sue GMAC, the company that has since shot me down for about 3 jobs, even though if they hired me the first time, they may not have needed a taxpayer bailout...but that assumes they would have listened to me over their quants. Regardless, when the Nazis show up to fight the Communists, you don't intervene. You crack open a beer and watch.
And now, Extended Stay hotels filing for bankruptcy. Not that I have a personal grudge with them, BUT I recall calling them about a month ago to see how much a 6 week rental in Rapid City would cost (as I am going on an extended vacation).
$6,000.
Rapid, Effing, City?
$6,000 for 6 weeks?
$1,000 a week?
That's like me charging $500 for my book (which incidentally you should buy!)
And you wonder why you are filing for chapter 11.
Hotel RevPAR is in the basement. Extended Stay won't be the last to file bankruptcy.
ReplyDeleteDenny Hecker is a local twin cities MN dealer. He gives car dealerships a bad name. Most of our local dealers run a really good business.
ReplyDeleteLet's not judge all car dealers based on a guy like Denny Hecker...
He was the smallest dealership in the twin cities, yet his face was plastered on every bus and billboard. I think his ego got the better of him.