Exactly, the hard part of getting a business up and running is done already with a long history of success on the books. I'm adding more tomorrow, as you've said repeatedly, easy buck when the merger is complete and Rotmans fins are rolled in. No patience here for most people.
VYST! Warren Buffet's Berkshire Hathaway purchased Jordan's Furniture years back they are Rotmans Furniture Store smaller competitor as Rotmans was bigger! VYST is the largest OTC merger I have ever seen and multi dollars and more should be here sooner than most think!
Jordan’s Furniture sold to Warren Buffett’s Berkshire Hathaway
ByLeslie Miller, Associated Press writer
Posted Oct 12, 1999 at 12:01 AM Updated Jan 11, 2011 at 2:32 PM
BOSTON -- Jordan’s Furniture, a Boston retailing legend known for its owners’ campy radio and television advertisements, is being sold to a subsidiary of billionaire Warren Buffett’s company, it was announced yesterday.
Jordan’s, which sells more furniture per square foot than any company in the United States, is approaching $250 million in annual sales.
The price of the sale was not disclosed.
“Jordan’s Furniture is truly one of the most phenomenal and unique companies that I have ever seen,” Buffett, chairman and CEO of Berkshire Hathaway Inc., said in a prepared statement.
The four-store chain is co-owned by Eliot and Barry Tatelman, whose grandfather, Samuel Tatelman, incorporated it as a small furniture store in 1928 in Waltham. The brothers took over the business in the early 1970s, bringing it from eight employees to over 1,200 today.
The company has a reputation for treating its employees well. In May, for example, the Tatelmans chartered four jumbo jets and took all 1,200 employees to Bermuda for a day.
“We did it to thank them for being a great group of employees. That literally was the only reason we did it,” said Heather Copelas, company spokeswoman.
They announced yesterday they are rewarding every employee with 50 cents for every hour they have worked for the company “to celebrate the excitement of the merger,” Eliot Tatelman said in a prepared statement.
The brothers said many of the employees have been with them for 10 to 20 years. That could mean a bonus of $10,000 to $20,000 for each longtime employee.
The Tatelman brothers are well known throughout Greater Boston after 25 years of recording their own radio and television commercials, which often spoof other well-known advertising campaigns.
They got in trouble with the Gap last year after doing a takeoff on the clothing chain’s popular swing-dancing ad for khaki pants.
Jordan’s Furniture stores have successfully built foot traffic by making lavish use of what the brothers, who are in their 50s, call “shoppertainment.”
Ten years ago, they installed a laser light show and thrill ride at their store in Avon, where the stripes in the parking lot are painted pink and where shoppers are sometimes offered cookies and milk.
In April 1998, they opened their fourth store in Framingham-Natick with a Disneyland-style environment. Customers walk onto a replica of Bourbon Street and can watch a nine-minute Mardi Gras show, complete with life-size robots in the image of jazz greats like Louis Armstrong and the brothers themselves.
They have two other stores in Waltham and Nashua, N.H.
Barry and Eliot Tatelman won an award in 1997 for their socially responsible entrepreneurship. They donate about 50 pieces of furniture a week to the New England Coalition for the Homeless and help support local children’s charities. The merger will have no effect on the business, said Copelas.
“If we didn’t tell anyone, no one would know there are new owners,” Copelas said. “It’s absolutely going to stay business as usual.”
They’re even going to continue with their hammy commercials.
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