I mean, the very notion of “grown up” companies is a lie. Reading the article on the Instant Brands bankruptcy…
“Instant Brands was purchased by private equity firm Cornell Capital in 2017. While some of its products, such as Pyrex and CorningWare are long established brands — Pyrex is 108 years old, and CorningWare is 65 — Instant Pot was only launched in 2010. The company said that at least one of its products can be found in 90% of US homes”
Yet, they’re filing for bankruptcy because some brainiac “disruptor” CEO is an idiot but other rich idiots gave him millions of dollars to turn it into a garbage fire.
I mean, the very notion of “grown up” companies is a lie. Reading the article on the Instant Brands bankruptcy…
“Instant Brands was purchased by private equity firm Cornell Capital in 2017. While some of its products, such as Pyrex and CorningWare are long established brands — Pyrex is 108 years old, and CorningWare is 65 — Instant Pot was only launched in 2010. The company said that at least one of its products can be found in 90% of US homes”
Yet, they’re filing for bankruptcy because some brainiac “disruptor” CEO is an idiot but other rich idiots gave him millions of dollars to turn it into a garbage fire.
https://www.cnn.com/2023/06/13/business/instant-brands-bankruptcy/index.html
can someone buy back the PYREX brand to ensure they only distribute boroscilate glass?
Please! To stay relevant as a company, that’s all they had to do. It’s the definition of the “You only had one job” meme.
I appreciate this