The rise and fall of Sportman's Warehouse

mary g.
Madison, WI     03/12/2010 10:03 PM

"Then again it's a lot easier to write negative comments on this web forum." Ya, but then again, I didn't stiff any creditors by writing my comment. And those 2,500 employees; where do you think they are today? Nobody is rubbing the guy's face in it, but considering the final outcome, I wouldn't hold him up as some kind of brave capitalistic entrepreneur. He seems to have gotten in way over his head, practicing the common American trait of throwing good money after bad.

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Troy S.
New Richmond, WI     03/12/2010 9:03 PM

As someone who worked for Stu, I feel sick. I have the utmost respect for Stu. He has always been kind and fair to his employees. He has always given to various organizations throughout the St. Croix Valley. He took risks, but should have protected his personal assets, but as someone said, hindsight is 20/20. At least he has taken responsibility for his mistakes. My thoughts and prayers are with Stu and his family. I know he'll land on his feet and find success again.

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Jim J.
Andover, MN     03/12/2010 9:14 AM

This man took his family wealth and took a risk, trying to build a new company. That is capitalism and what being an entrepreneur is. He could have just sat back with his family money and did nothing. Taking risks is what enabled him to employ 2,500 people at one time. He got caught up in the financial meltdown in Sept 2008 like everyone did. Could he have done things differently? Sure, 20/20 hindsight always works. As to the comment about his writing the book, at least he took the time and effort to do something like write a book and try to salvage something out of this. Better that than sit around doing nothing and whining about it. Give him credit for that. Then again it's a lot easier to write negative comments on this web forum.

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Joe J.
03/06/2010 1:54 PM

I think comparing Sportsmans to Cabela's, or Gander Mountain is taking a huge leap in business structure comparisons. I know a little about how both Cabela's and Gander operate, and how both changed when the economy first showed signs of the down turn. Expansion stopped all over, in various stages, better to take a small loss, then to risk the entire company. I don't know how the top executives didn't make some serious changes at the top. I would look at the very top to find the reasons for the incredibly fast collapse. How a CEO couldn't make sure his personal wealth/assets were protected is beyond me. I can see the initial need to put it on the line to start, but during the many years of unprecedented profits, and growth, how would a person not make the necessary changes to protect himself and the family assets. Seems like there may have been a lot of ego issues and the top, and not enough sound business experience.

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mary g.
Madison, WI     03/06/2010 3:42 AM

My father came to this country an immigrant. He didn't leave us an inheritance perse, but taught us the value of education. His childrens' education was all he believed he "owed" us, instead of finanancing our companies and our dreams, he taught us practicality and how to work to acheive our goals. His children are independent, self-supporting, and live across the United States. Since high school, they have paid their own way. Good educations, and that foundation of practicality/reality, help. Anyone can buy their way into a CEO or investment business with family wealth. But can you earn your own keep -- can you finance your own dreams and independence? If Mr. Utgaard's daughters are learning from his mistakes, if their only "inheritance" is legitimate good character from the extended family, and an appreciation for how hard it is to get it (personal wealth) -- and most importantly to keep it -- honestly these days ... this may have been a blessing in disguise that nothing was handed to them or credited to them in advance, like the father here apparently was. Perhaps if he knew how much it took to build up the hatchery business, and how valuable that indeed was to his ancestors, he might have invested a bit more conservatively and not risked playing with what must have appeared as monopoly money. Still, it's good to see him not asking for a handout or bailout like the auto businesses got, but realizing he's got to live within his means, and let his children compete with their talents and not their family wealth to rebuild the family fortunes. Good luck, and God bless.

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Pat L.
03/05/2010 9:01 PM

I am not sure if this article was about promoting his book or an invitation to his Pity Party. He feels sorry for his small vendors who lost one year of profits and never mentioned all the small local people who lost not a year, but a whole life time of their savings they trusted with him. He just "made off" with their savings. If "guts" were cash, he would be a rich man.

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EBBA A.
03/05/2010 3:51 PM

I wouldn't be so worried about a child's inheritance, my parents have told me, they already spent mine on a vacation home down South. I'd be more worried about keeping a roof over my child's head, food in their belly and clothes on their back. With no income coming in, how will they live, and where? My thoughts and prayers go out to Kim and the girls, they are the real victims in all of this.

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paul l.
03/05/2010 3:08 PM

screw your folks and it comes back to bite you good luck

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Just Me A.
Hudson, WI     03/05/2010 12:59 PM

And greed makes the news. Best of luck in the real world!

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