Whos Buying Steuben?

[Jay Holden]

Well everyone the shoe is about to drop. Today The glassblowers and cold workers at Steuben learn their fate. The company will tell who is buying Steuben. My contact will let me know tonight. Stay tuned.
Jay.

[James Ennis]

is it the same people that just got budwiser?

[Larry Cazes]

Are they being bought to continue production of some sort? Hopefully not a liquidation sale. I went through two real closings in my 15 years of engineering and it is not fun. The last time, the employees were not notified ahead of time and the liquidators just came in one day without any warning and starting tagging and cataloging equipment in my lab :)

[Eben Horton]

I bet its baccarat or some european glass conglomerate. the euro is so much higher than the dollar now,all of america is on sale for europe..

then there is China, but I doubt that.

[Jay Holden]

My brother just called me and said he has a package from Steuben for me. Steuben has been sold and we have 7 days to make up our minds whether to go with the new company or stay with Corning Inc. I have to go to my brother's and pick up the package. I don't have the company name yet but I will soon as I get the package. I do know that the name is going to be Steuben L.L.C. and it's staying at CMoG for now. We also have the assurance that if it does fold we can go back to Corning. I'm staying with Corning because I'm retiring. Wouldn't pay to change parent companies at this stage of the game.
Jay.

[Jay Holden]

Ok Here it is,
Steuben has been sold to Schottenstein Stores Corporation (SSC). A privately held family of businesses affiliated with American Eagle Outfitters (NYSE);Martin and Osa;aerie; Retail Ventures Inc.(NYSE). Which which is the parent of DSW, also a NYSE listed company and Filene;s Basement; American Signature Inc/Value City Furnature, Adrienne Vettadini, Judith Leiber and Shiro. The big cheese is Jay Schottenstine chairman and CEO. SLG Schottenstein Luxury Group focuses on the development of prestigious brands. The details are confusing at best. Apparently I can Retire from Corning and continue to work for Steuben LLC. Draw my pention and continue to work. Problem is I can't work. At least not without surgery. I have 7 days to make up my mind. No selling price was given. The sale will be finalized in the third quarter. Probably more to come.
Jay.

[David Schimmel]

Corning Inc.'s press release appeared on Business Wire at 2:15 pm this afternoon. Here's the link: http://biz.yahoo.com/bw/080723/20080723006071.html?.v=1

[Franklin Sankar]

So any word on if GAS stays at that venue?
Sorry to hear about the back Jay but will you be able to work at the new company, after the surgery ? They may replace all your management friends and clear the way for you. Hope you make the right decission for you.

Franklin

[Rob White]

So any word on if GAS stays at that venue?

Franklin

From what I know from been at Corning a few times, Steuben is a small part of the Corning Museum of Glass complex. Though Corning, Inc owns Steuben it is a separate entity from their other facilities. Steuben leases their portion from CMOG. CMOG is a non-profit that runs the museum and studio, and there is the Library as well.

So the sale of Steuben should not affect any part of the museum or ability to hold GAS conferences.

Rob White

[Jay Holden]

So any word on if GAS stays at that venue?
Sorry to hear about the back Jay but will you be able to work at the new company, after the surgery ? They may replace all your management friends and clear the way for you. Hope you make the right decission for you.

Franklin

It's a hard decision to make Franklin but I'm weighing all the options. Most of the blowers staying don't want me to return because of my seniority. If there were ever a cutback I'd stay because I'm the senior Gaffer. I really don't give a hoot what they think but you know. And the sale won't have any barring on the GAS conference.
Jay.

[Pete VanderLaan]

The factory has to be moved off site of Corning but will be offered an enormously attractive package to keep it in the town of Corning. Corning Inc will continue to own a 12 percent interest which will essentially be the equipment. I have no idea how one moves a furnace like the one they just built. I doubt it is doable.

I would council staying Jay. You can always quit later. They in fact really need your experience.

[Franklin Sankar]

Jay you are experiencing the same kind of life in your factory that we experience across the globe from you. I bet its very similiar in most other places. Management appreciates you for your skill and experience on the bench they dont appreciate you giving them lip.
They are not interested in you trying to make a diference for them. Management may not want to change and you cant make them change. They say yes we are about change but they dont listen. I understand it happens to all of us. Someone else will force it on them and then you can gloat over it and say "I told you so".
That is the way most of them are, but we still need them for a job and they still need you to make money for them. So it a win win. You think your customers would be any different?
end of sermon
Franklin

[Jay Holden]

The factory has to be moved off site of Corning but will be offered an enormously attractive package to keep it in the town of Corning. Corning Inc will continue to own a 12 percent interest which will essentially be the equipment. I have no idea how one moves a furnace like the one they just built. I doubt it is doable.

I would council staying Jay. You can always quit later. They in fact really need your experience.

Actually Pete they retain a 19.9% interest. It's staying at CMoG as I understand it. At least for now. I hope they DO build a new Studio. That would be sweet. I haven't even seen the new tank furnace yet. They won't let me out on the floor. Games till the end. You probably remember me saying "I love my job, I don't love who I have to do it for" Well that's about to change so I think I'll take the package, Retire from Corning and Go work for Steuben LLC. That is if I have the surgery. Or I may be able to get away with some kind of rehab. No Wait! "Foreman". Senior adviser to Mr Schottenstein. Oh the possabilities Hmmmmm.

[Jay Holden]

Jay you are experiencing the same kind of life in your factory that we experience across the globe from you. I bet its very similiar in most other places. Management appreciates you for your skill and experience on the bench they dont appreciate you giving them lip.
They are not interested in you trying to make a diference for them. Management may not want to change and you cant make them change. They say yes we are about change but they dont listen. I understand it happens to all of us. Someone else will force it on them and then you can gloat over it and say "I told you so".
That is the way most of them are, but we still need them for a job and they still need you to make money for them. So it a win win. You think your customers would be any different?
end of sermon
Franklin

Point well taken Franklin. Hug your beautiful family for me.
Jay.

[Eben Horton]

Yo Jay.. while I enjoy reading your thoughts about all of this, do you know that someone from Corning or Steuben LLC could be reading this? This is not a private message board...

[Jay Holden]

Yo Jay.. while I enjoy reading your thoughts about all of this, do you know that someone from Corning or Steuben LLC could be reading this? This is not a private message board...

Yep, I'm sure there is Eben. I know David Levi reads the board on occasion. Frankly I don't care. I have nothing to hide and they are used to me speaking my mind. It's one of my many charms.
Jay

[Pete VanderLaan]

I have never heard David say anything negative about you Jay. My source said the factory has to move off of the Corning Site. I can't imagine moving the furnace successfully. I have trouble imagining CMOG being able to handle the Stueben workload, such as it is and even more trouble imagining melting the lead formula on its platform. Nevertheless, Eben has a point.

[Jay Holden]

I have never heard David say anything negative about you Jay. My source said the factory has to move off of the Corning Site. I can't imagine moving the furnace successfully. I have trouble imagining CMOG being able to handle the Steuben workload, such as it is and even more trouble imagining melting the lead formula on its platform. Nevertheless, Eben has a point.

All is public now so what they told us at the meeting on Monday was that they have the old studio for 5 years and another 5 year option so I guess we will be staying there for at least another ten years. That is if they can make a profit. Something tells me that the new owner will do just that. Lower the overhead and make his glassblowers happy there. He said on national TV that Corning and Steuben lost sight of one of the most important aspects of production manufacturing. Keeping their people happy. I like David Levi and I know he would never talk bad about me nor would I ever talk bad about him. I have followed his work for years. He was surprised that I knew so much about him when he first came to Steuben. I was just agreeing with Eben that someone from Steuben was probably reading what I was writing. And again I don't care if they do.
Jay.

[Pete VanderLaan]

Jeez, we'll all be tottering around looking for our wheelchairs before the joint moves. It's kind of like talking about social security lapsing in 2040.

[Franklin Sankar]

Wheelchairs...ha....Dont be fooled, I dont think anyone can push Pete around.
Franklin