NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

[ShinyChevy]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

However, I found the following in another forum discussing this:

"If you look back over the past 5 years at what Meguiar's has done, you'd see a significant slim-down. They brought all D-line manufacturing in house. They killed products and product lines that didn't have an immediate pay back opportunity. They consolidated all warehousing. Then, finally, they outsourced all manufacturing and internet sales to 3rd party companies. That means they went from nearly 200 employees to about 100, making themselves easier to be snapped up if they could not pay back the debt."

Is this true? Confirmed by anyone at Meguiar's?

[rescuenut10]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

I hope the product line dosen't get rationilized like 3m did to the Duramix adhesives after they were purchased.

[Deaner5]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

Not sure how this will all play out, but I do know one thing; we might actually get a class in the Twin Cities metro now since 3M is headquartered here in St. Paul. Plus they have a few buildings here and there in the metro.

Plus, we should remember things like 3M has a pretty big presence at the Michigan NASCAR race and have been really pushing their car-care line. Maybe they will just start pushing Meguiar's now. Plus, I would imagine most of us already use their blue painter's tape. We'll see how this all plays out.

[Ryan L.]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

Yeah, what does Mike Phillips think about this? Is he on a well deserved vacation.

I think Mike gets every Wednesday off as a trade off for teaching the Saturday classes.

***Offline Today***

[weekendwander]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

Everyone thinking that this is gloom and doom need to take a step back. 3M employees 79,000 people. Downsizing or cutting every position at Meguiar's would not change the bottom line of the company.

Now granted some back office things may be consolidated (I am an accountant and I know that I would not want to be in most of those functions)

3M is likely going to give the resources needed to make the products better. They are not going to buy a well known brand and kill it off. There will be changes but everyone is fooling themselves if they 3M is going to willingly send cruddy products to market.

[acsuppa]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

He has already been fired and replaced with a robot!

Yeah, what does Mike Phillips think about this? Is he on a well deserved vacation.

[Kooz]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.


I'm not so happy about this but at least it was 3M which is a respectable company. They make some fine products. They make a million products, but good quality none the less.

If Meg's was bought by someone like Turtle Wax then I would be fuming mad and possibly shop for a different brand. I spent my time in the global corporate world and I hope things turn out okay for the company and especially the people.

[seth1066]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

So maybe the Mirror Glaze Franchisee near me is correct that the plant is a third party who Meguiars outsources to not a Meguiars owned plant. I don't know but I know this has gone much further than I intended.

Sorry I wasn't more obvious; I have no knowledge of whether or not Meguiar's outsources or owns the Tennessee blending plant and was not taking a position one way or another on that issue.

[ZoranC]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

Ha, it can't be any worse than Meguiars making their own employee's wear black shirts in 100 degree heat while holding classes or detailing cars...

We could turn the heater on?

[Superior Shine]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

I wonder what Mike Phillips thinks about all this.

He has already been fired and replaced with a robot!

[kellyinkc]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

As I try to digest this I keep coming up with why did Barry sell????

Kelly

[ment]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

i have mixed feeling about this

I do hope 3M wont interfere too much with the Meguiars products. Dont get me wrong, 3M products are good. But they just dont come close with Meguiars

I like the fact that meguiars instantly gained logistic strength.

But its a different thing when you're for the profit then the other guy is in for the love of it.

[Michael Stoops]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

Everything will just get better than it already is because Barry would never put the dollar before his passion.

You guys don't fully realize how very true this statement is.

Now I know how 3M got named: Mike Pennington, Mike Stoops, Mike Phillips.

(j/k)

Now THAT is funny.

I must admit I don't see how it is possible for 115 people to design, produce, sell, provide customer support, and provide administrative corporate duties to a company the size of Meguiars and more impressively with the vast product offering that Meguiars has.

That's exactly what the guys from 3M said to us Monday morning and why they see tremendous things in the future as they give us the financial resources to really cut loose. They were literally stunned at the small number of chemists we have on staff because they figured we must have a battalion of white coats coming up with all these great products. Heh, heh....surprise!!

[Bert31]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

For the sake of discussion, let's say that the manufacture of product is outsourced to Tennessee. That's simply a cost of production, those Tennessee workers don't dilute the sales per employee ratio. And they certainly can't be fired by 3M. Here's a thought, 3M could take over the productiuon and cut out the middleman.

No they don't dilute the sales per employee, they HELP the sales per employee ratio because they are not employees of Meguiars. I think you are missing the point of my reply. Someone stated that they were amazed at Meguiars sales per employee ratio and I stated that such a ratio can look better than it really is if the company outsources some of it works to third companies. I mentioned the plant down in Tennessee that I thought was a third party blender for Meguiars. The Other PC stated that this Tennessee plant is part of Meguiars. However, I found the following in another forum discussing this:

"If you look back over the past 5 years at what Meguiar's has done, you'd see a significant slim-down. They brought all D-line manufacturing in house. They killed products and product lines that didn't have an immediate pay back opportunity. They consolidated all warehousing. Then, finally, they outsourced all manufacturing and internet sales to 3rd party companies. That means they went from nearly 200 employees to about 100, making themselves easier to be snapped up if they could not pay back the debt."

So maybe the Mirror Glaze Franchisee near me is correct that the plant is a third party who Meguiars outsources to not a Meguiars owned plant. I don't know but I know this has gone much further than I intended.

[seth1066]

Re: NEWS RELEASE - 3M to Acquire Meguiar's, Inc.

Oh. I just assumed that the Mirror Glaze Franchisee near me who has sold Meguiars for 25 years and personally knows Barry Meguiar knows what he is talking about when he said it was outsourced to a third party blender in Tenn. Oh well.

For the sake of discussion, let's say that the manufacture of product is outsourced to Tennessee. That's simply a cost of production, those Tennessee workers don't dilute the sales per employee ratio. And they certainly can't be fired by 3M. Here's a thought, 3M could take over the productiuon and cut out the middleman.