I’ve been critical of leadership at LL for a long time. But today, I am the one wearing the clown costume (and elf pajamas)
Tom Sullivan got me good. I supported him and his team, and he certainly showed me how the game is played. Tom came in touting management change and strategic review, but in the end, he simply did a quick “dine and dash” leaving shareholders twisting in the wind. I lost money. I am certain many investors did too. Tom walked away with about $5.5 million in profit.
Once again, long time LL shareholders get fucked while people who don’t deserve anything, take all the reward. It was definitely not a classy move and I take responsibility for courting Tom and for voicing support. In the end, I was as much a victim of this con as other shareholders, but that’s no consolation. Sorry guys.
For the literary ones, this whole thing reminds me of Mark Twain’s “The Royal Nonesuch” https://www.pbs.org/kenburns/mark-twain/royal-nonesuch
For the ones who don’t read, this scene might make sense.