DanteHicks79
macrumors 6502a
This specifically. What a rotten move to pull on their employees.
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Apple Reseller 'Simply Mac' Shuts Down
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This specifically. What a rotten move to pull on their employees.
This is the same for other brands in the industry as well, such as HP, ASUS etc. Resellers usually profit most from selling accessories, or upgrade bundles for RAM, hard drives etc.
George Dawes
Suspended
I haven’t been in a physical apple store for well over a decade , mainly as the staff at my nearest one were arrogant morons and I much prefer using the online store .
Life’s too short
Life’s too short
First off, it wasn't a startup.. They were publicly traded under the symbol "simp". Second, there's risk in business - it's unavoidable. To address your "on me and you" comment... There's no impact to the tax payer, so it's not on us. Simply Mac investors and creditors know about the risk when getting into business with companies like this.. Their stock was roughly $2 and change for quite some time... Not a lot of capital to work with there... I know from their mailing list they were also trying to expand, but that's besides the point. Anyway, employees should get something from liquidation of the company's assets for time served without pay. It sucks.. it really does, but we're going to be seeing more of this - especially as the economy corrects from being overstimulated and having a rough supply chain.
I don’t have good experience with OWC, I bought a SSD from them once and it died in less than one year. When I requested RMA, they asked me to pay for the shipping.
Then I think it’s not worth the trouble, I don’t trust it, I won’t use it even get it RMA’ed. Bought a Samsung one, now it’s already 3 years.
https://finance.yahoo.com/quote/SIMP
More reddit mob financial analysis. Sigh.
There is a steady dribble of "new store openings" on the yahoo news summary page. The fact that they were running around trying to attract market hype via growth for growth sake was part of the problem.
Um... What?
Apply Silicon has absolutely nothing to do with this - absolutely false.
Personally, I purchased 3 M1 Macs from Simply Mac last year... This is due to a number of things... lack of capital and aggressive expansion... Oh, and an economy that's correcting.
That’s capitalism. For every millionaire startup there are thousands of business owners just getting by. Where would all the people who don’t want to be entrepreneurs work if not for them?
In this case this guy clearly had some management issues, he should not let it go so far that his employees can’t even get paid their last check. I don’t think it usually goes this badly.
Theoretically a failed business should return those assets and opportunities to the market for someone else to try again. In this economy though…
Expos of 1969
Suspended
I am no fan of Apple's business practices, but resellers made a choice to sell Apple products. I feel sorry for the employees who are being screwed though.
torontotim
macrumors 6502
This wasn't a startup, and how does this fall on you?
If people didn't take risks and have bankruptcy laws to fall back on, there wouldn't be an Apple.
TERRIBLE that they didn’t shut down two weeks ago so employees could get a final paycheck. Now you’ve got 1000’s of people who just gave up two weeks of their own lives working for free for a company that KNEW they were going under well in advance.
Terrible terrible CEO.
Terrible terrible CEO.
Actually, it was publicly traded under the symbol "simp"....
🔎 simplymac stock - Google Search
www.google.com
mansplains
macrumors 68000
Funny thing, GameStop actually owned Simply Mac from 2013 to 2019
sw1tcher
macrumors 604
mansplains
macrumors 68000
As the employee who handled the most non-mac service interactions during my employment (500+ per month) at the biggest store in the company, I can't say I'm surprised. Reselling is a pain, and service isn't much better despite being AASP.
When I worked for SM, you'd get a flat rate per product type as a commission, and it was horrendously low. But that didn't stop scum! I remember several times someone would get sold the perfect product for their needs and district mgmt would come for a visit to talk about how we need to oversell, effectively. And the emphasis on refurbs since they actually had some profit... We had some trash can mac pros in the back forever.
At any rate, it was a mostly positive experience, I really enjoyed helping people. Working in service helped me stay away from the scummy sales stuff, since no one wanted to buy iPhones from us when they needed a new one, you had to get AT&T and activate with purchase. I have a lot of fun photos if anyone wants to DM for things like an exploded iPhone 8+.
When I worked for SM, you'd get a flat rate per product type as a commission, and it was horrendously low. But that didn't stop scum! I remember several times someone would get sold the perfect product for their needs and district mgmt would come for a visit to talk about how we need to oversell, effectively. And the emphasis on refurbs since they actually had some profit... We had some trash can mac pros in the back forever.
At any rate, it was a mostly positive experience, I really enjoyed helping people. Working in service helped me stay away from the scummy sales stuff, since no one wanted to buy iPhones from us when they needed a new one, you had to get AT&T and activate with purchase. I have a lot of fun photos if anyone wants to DM for things like an exploded iPhone 8+.
LeadingHeat
macrumors 65816
Is there a Best Buy? They’re trained [as well as] geniuses are in the apple stores.
Expos of 1969
Suspended
That’s all I need to know about Simply Mac and its CEO to say good riddance to bad rubbish.
mansplains
macrumors 68000
Right? It was kind of funny for the user to bring it by supposing we could fix the thing. I don't recall the story they gave as to how it blew up, but we referred them to Apple for a replacement.
JosephAW
macrumors 604
I remember on January 1, 2020 the old country buffet close down without telling any of their employees that they were going out of business.
They didn’t even tell the customers, I showed up to get lunch and the doors were locked.
They didn’t even tell the customers, I showed up to get lunch and the doors were locked.
Amazing Iceman
macrumors 603
I feel bad for the employees and ever worse for the investors. Those were the ones to lose the most.
This is more about bankruptcy and "who pays the cost" than it is about capitalism. A capitalist system typically as laws that consumer need to pay for what they buy. Bankruptcy is a "get out jail mostly free" card where a company skips on its bills and contract obligations. It is an organized scramble of who gets the short end of the stick when there is not enough money to go around.
Bankruptcy is not a even distribution of the "pain". And certainly the all the assets are not being returned to the market because if everyone got paid back you wouldn't need Bankruptcy to figure out who gets 'shorted'.
It would be relatively straightforward that any publicly traded company must keep 2 weeks pay of cash for salaries on the books or be required to do a public notification that they have fallen short. Lack of reporting would mean fines and/or jail time for the board and executives running the company.
Here the workers have to get in line with a bunch of other creditors and it will boil down to who is first , second, third in line. Eventually as the company is liquidated they'll probably get some checking depending upon how structured the liquidation hand outs go. But it really shouldn't be all that hard. Judge issues Chapter 7 along with directive to pay that last check out the pot should have had in reserve in the first place. All the rest of the creditors have to get in line behind the worker's last check. The somewhat random market "return the assets" should be after that.
Capitalism works well if everybody in the market has the same information. That is why there are lots of public disclosure requirements rules when you are a publicly listed company. Capitalism is really not "law of the jungle" . If there is zero trust between all parties "Capitalism" doesn't work.
gaximus
macrumors 68020
Thats fine to blame it on Apple (Which is false and had nothing to do with it), But how is the Apple Silicon Transition to blame?