No more guarantees......The Men's Warehouse

[URY914]

NEW YORK — Men’s Wearhouse Inc. has dismissed its founder and executive chairman, George Zimmer.

In a terse release issued Wednesday, the company didn’t give a reason for the abrupt firing of Zimmer, who built Men’s Wearhouse from one small Texas store using a cigar box as a cash register to one of the nation’s largest specialty retailers in men’s clothing, with 1,143 locations.

In light of Zimmer’s termination, the company postponed its annual shareholders’ meeting scheduled for Wednesday. It said the purpose of the postponement is to re-nominate the existing slate of directors without him. It said the board expects to discuss with Zimmer the extent, if any, and terms of “his ongoing relationship” with the company



Read more: Men's Wearhouse founder no longer making guarantees | The Daily Caller

[VaSteve]

He shouldn't have shot that boy in Florida.

[Por_sha911]

His statement:

Over the last 40 years, I have built The Men's Wearhouse into a multi-billion dollar company with amazing employees and loyal customers who value the products and service they receive at The Men's Wearhouse. Over the past several months I have expressed my concerns to the Board about the direction the company is currently heading. Instead of fostering the kind of dialogue in the Boardroom that has, in part, contributed to our success, the Board has inappropriately chosen to silence my concerns by terminating me as an executive officer." - George Zimmer, founder of The Men's Wearhouse.

I'm sure George has a golden parachute and owns stock as well.

[sammyg2]

I went into one of those stores once. Same stuff was available at 4 day suit brokers for a lot less, I walked.

[URY914]

Originally Posted by VaSteve

He shouldn't have shot that boy in Florida.

That is ZimmerMAN

[john70t]

They are just going with a more contemporary image. (for us by us)

[Buckterrier]

Originally Posted by Por_sha911

His statement:

I'm sure George has a golden parachute and owns stock as well.

Who cares. The board has about as much class as you, no they have more and that aint' much.

[Eric 951]

Now he can stunt-double for the "most interesting man in the world" Dos Equis guy.

[herr_oberst]

If he's smart he'll set up shop in direct competition with Men's Warehouse. It worked well for Bill Simpson.

[GH85Carrera]

I guees they did not like the way he looked.

[VINMAN]

Is that the guy that was on the tv commercials and the radio voice overs?

[flatbutt]

amazing that you can be fired from the company you created. I'm sure he's well set though.

[sammyg2]

He started a company, which he SOLD to investors when it became a corporation.
When he did that he went from an owner to an employee. And I'm sure he made a buttload of money when he did that.
that's how it works.

Later, if the board decides his actions as an employee are detrimental to the corporation and are not in the shareholders (owners) best interests, he deserves to be fired.

[matt711]

Kind of like Steve Jobes first go-round with Apple.

I shopped at Men's Warhouse once, prices were not great. Now I wait for a sale ot Jos A. Bank. Got two nice suits last year for a little less than $400.

[asphaltgambler]

Originally Posted by sammyg2

I went into one of those stores once. Same stuff was available at 4 day suit brokers for a lot less, I walked.

Sammy - Hey my experience exactly. I was ready to spend some serious dough on new duds last year for my new job. I walked in and when looking at the garments closely, a lot had imperfections..........................hmmmmmm. The price points were OK but the clothing didn't measure up. I never went back.

I don't mind spending the dollars to get nice stuff, just did not see any quality there even considering a low-to-mid price point expectation going in. At a friends suggestion went over the the local Macy's mens dept. (which is huge by the way) and found very good quality, very good selection. Frequently they have good sales / discounts where good value can be had.