Comments on: Rite Aid’s expensive changing of the guard… http://www.footnoted.com/my-big-fat-deal/rite-aids-expensive-changing-of-the-guard/ Morningstar's guide to what's hiding in SEC filings Fri, 10 Feb 2012 20:24:57 +0000 hourly 1 http://wordpress.org/?v=3.2.1 By: SHIFT http://www.footnoted.com/my-big-fat-deal/rite-aids-expensive-changing-of-the-guard/comment-page-1/#comment-13167 SHIFT Wed, 25 Aug 2010 05:41:17 +0000 http://www.footnoted.com/?p=4499#comment-13167 since it's been turned into rite aid there is no more laughter in the workplace. Everyone is so depressed that any stupid thing wil get them fired and corporate seems to be just interested in showing that their doing something without actually accomplishing anything in order to keep their jobs also. Dm's don't know anything. everytime we get a new one there are different rules they want us to follow or new "ideas" they want to put into place that just waste time. The only thing keeping me sane is that i love my staff, but if corporate knew that they would move me to a new store in a second, because they want all us managers to be soulless evil robots. I'v been working here for 11 years and i only make 10$ and hour!!! thank god my other half has a job so we are able to pay our mortgage, But every time I see my hours cut I just don't know how were going to make it. I'll tell you one thing though. I won't risk myself following people around anymore to see if their stealing. i aint risking my life for this company anymore. fuck em since it’s been turned into rite aid there is no more laughter in the workplace. Everyone is so depressed that any stupid thing wil get them fired and corporate seems to be just interested in showing that their doing something without actually accomplishing anything in order to keep their jobs also. Dm’s don’t know anything. everytime we get a new one there are different rules they want us to follow or new “ideas” they want to put into place that just waste time. The only thing keeping me sane is that i love my staff, but if corporate knew that they would move me to a new store in a second, because they want all us managers to be soulless evil robots. I’v been working here for 11 years and i only make 10$ and hour!!! thank god my other half has a job so we are able to pay our mortgage, But every time I see my hours cut I just don’t know how were going to make it. I’ll tell you one thing though. I won’t risk myself following people around anymore to see if their stealing. i aint risking my life for this company anymore. fuck em

]]> By: Washnfold http://www.footnoted.com/my-big-fat-deal/rite-aids-expensive-changing-of-the-guard/comment-page-1/#comment-13048 Washnfold Wed, 14 Jul 2010 06:22:06 +0000 http://www.footnoted.com/?p=4499#comment-13048 I have worked for Fay's, Eckerd, and Rite Aid since 1998. Drug store retail pretty much destroys your soul no matter what company it is, but Rite Aid is the only one that has made me feel truly embarrassed to say I work there. We front-end employees are treated like mere chattel, while the by-god pharmacy employees who walk on water get better pay, better hours, and better treatment. This is a major reason why customer service sucks so much in their stores; front end employees are underpaid and they know it, and watching rx people leave two hours before them every saturday just rubs salt in the wounds. I take a great deal of pride in providing excellent customer service because I have been at this a very long time, but I just don't have the heart to demand the same of my cashiers. Please, please, please, if you are unhappy with Rite Aid, and you probably are, call and complain. 1-800-RITE-AID. The Wellness card sucks, the rx hours suck (why is the store open but I can't pick up my script!), the stock is only good for selling short, and the service blows. Oh, but it's my rite aid and I love it! I have worked for Fay’s, Eckerd, and Rite Aid since 1998. Drug store retail pretty much destroys your soul no matter what company it is, but Rite Aid is the only one that has made me feel truly embarrassed to say I work there. We front-end employees are treated like mere chattel, while the by-god pharmacy employees who walk on water get better pay, better hours, and better treatment. This is a major reason why customer service sucks so much in their stores; front end employees are underpaid and they know it, and watching rx people leave two hours before them every saturday just rubs salt in the wounds. I take a great deal of pride in providing excellent customer service because I have been at this a very long time, but I just don’t have the heart to demand the same of my cashiers. Please, please, please, if you are unhappy with Rite Aid, and you probably are, call and complain. 1-800-RITE-AID. The Wellness card sucks, the rx hours suck (why is the store open but I can’t pick up my script!), the stock is only good for selling short, and the service blows. Oh, but it’s my rite aid and I love it!

]]> By: John http://www.footnoted.com/my-big-fat-deal/rite-aids-expensive-changing-of-the-guard/comment-page-1/#comment-13039 John Tue, 06 Jul 2010 17:41:34 +0000 http://www.footnoted.com/?p=4499#comment-13039 I strongly doubt that they will ever be able to turn this company around with the chronic negative attitude they have towards their employees. This negativity permeates their stores and customers pick up on it when they shop there. A good example of their bad attitude towards employees is their publication of the "LP Files". This rag is designed to show employees in a bad light and has a threatening tone to it. They seem to want to create a wall with employees and create an "Us vs. them" type of culture. In order to ever turn the company around they have to get employees on their side. This attitude is probably left over from when the Grass family owned them. There is more to running a retail company than just crunching numbers. I strongly doubt that they will ever be able to turn this company around with the chronic negative attitude they have towards their employees. This negativity permeates their stores and customers pick up on it when they shop there. A good example of their bad attitude towards employees is their publication of the “LP Files”. This rag is designed to show employees in a bad light and has a threatening tone to it. They seem to want to create a wall with employees and create an “Us vs. them” type of culture. In order to ever turn the company around they have to get employees on their side. This attitude is probably left over from when the Grass family owned them. There is more to running a retail company than just crunching numbers.

]]> By: Roberta http://www.footnoted.com/my-big-fat-deal/rite-aids-expensive-changing-of-the-guard/comment-page-1/#comment-12625 Roberta Sun, 11 Apr 2010 14:15:54 +0000 http://www.footnoted.com/?p=4499#comment-12625 I work at a Rite Aid that used to be an Eckerd's. Rite Aid is an awful company to work for. I'm 45 so I've been around other corporations, not just Rite Aid. They continually cut employee hours - try successfully running YOUR household, Mary Sammons, when you don't know how much your next paycheck will be. OH and maybe you'd like to work til 10 at night with one other employee in the store with you. I've told my family if I'm ever hurt in a robbery gone bad to sue the socks off Rite Aid. Maybe if the jerks in Corporate would treat their employees like people, they'd see a turn-around in their stores. And the 15-minute prescription guarantee? Really, do you want the pharmacist to rush through YOUR medication check or the next guy's? Remember when Pizza Hut (or was it Domino's?) offered the 15-minute guarantee back in the early '90s? They dropped that get-rich-scheme after someone was killed in a car accident. Don't be surprised if history repeats itself. I'd like to know if the marketing genius who came up with the 15-minute prescription guarantee ever worked in a pharmacy? We're supposed to be a professional, medical enterprise that cares about PATIENTS - not acting like the frycook at McDonald's flipping burgers as fast as we can. And ditto's with what Kimberly said; if I can't afford to buy things where I work, there's a problem, don't ya think? Seriously, the cashier across the street at the grocery store starts out making more then I do after 3 years at Rite Aid. Yet I'm a pharmacy tech with 2 years of education who has to have mandatory continuing ed every year. Why do I stay? Because my local managers are great. I have school-age kids and they give me flexible hours and work around my kids school schedules. I love my job and my local store but Rite Aid sucks. I work at a Rite Aid that used to be an Eckerd’s. Rite Aid is an awful company to work for. I’m 45 so I’ve been around other corporations, not just Rite Aid. They continually cut employee hours – try successfully running YOUR household, Mary Sammons, when you don’t know how much your next paycheck will be. OH and maybe you’d like to work til 10 at night with one other employee in the store with you. I’ve told my family if I’m ever hurt in a robbery gone bad to sue the socks off Rite Aid. Maybe if the jerks in Corporate would treat their employees like people, they’d see a turn-around in their stores.

And the 15-minute prescription guarantee? Really, do you want the pharmacist to rush through YOUR medication check or the next guy’s? Remember when Pizza Hut (or was it Domino’s?) offered the 15-minute guarantee back in the early ’90s? They dropped that get-rich-scheme after someone was killed in a car accident. Don’t be surprised if history repeats itself. I’d like to know if the marketing genius who came up with the 15-minute prescription guarantee ever worked in a pharmacy? We’re supposed to be a professional, medical enterprise that cares about PATIENTS – not acting like the frycook at McDonald’s flipping burgers as fast as we can.

And ditto’s with what Kimberly said; if I can’t afford to buy things where I work, there’s a problem, don’t ya think? Seriously, the cashier across the street at the grocery store starts out making more then I do after 3 years at Rite Aid. Yet I’m a pharmacy tech with 2 years of education who has to have mandatory continuing ed every year. Why do I stay? Because my local managers are great. I have school-age kids and they give me flexible hours and work around my kids school schedules. I love my job and my local store but Rite Aid sucks.

]]> By: jesse http://www.footnoted.com/my-big-fat-deal/rite-aids-expensive-changing-of-the-guard/comment-page-1/#comment-12019 jesse Sat, 06 Mar 2010 02:48:12 +0000 http://www.footnoted.com/?p=4499#comment-12019 i work at one of rite aids distribution centers and i didnt know the sweat shops of the 20s still existed until now. They abuse and treat there employees like dogs,could care less about employee familys,force to work mandatory ot on hours notice,risk employes and customers health with rodent infested ctrs and products..dont shop rite aid i work at one of rite aids distribution centers and i didnt know the sweat shops of the 20s still existed until now. They abuse and treat there employees like dogs,could care less about employee familys,force to work mandatory ot on hours notice,risk employes and customers health with rodent infested ctrs and products..dont shop rite aid

]]> By: Kimberly http://www.footnoted.com/my-big-fat-deal/rite-aids-expensive-changing-of-the-guard/comment-page-1/#comment-11921 Kimberly Sun, 28 Feb 2010 01:40:17 +0000 http://www.footnoted.com/?p=4499#comment-11921 I have been with the company for over ten years now and have been everything from a cashier to assistant manager in that time. I came on when the mess with corporate had just been exposed. The problem is not greed at the highest degree, but that they have moved away from their foundation. No building will stand if you first lay a foundation and then build the structure apart from the begining blocks. The man who started this company was pushed out by his son and the son through away all his fathers work for lack of honor. What is needed in to return to the place that was started, and build again. The man that had a vision for "Rite Aid" did so because the minimum pricing was lifted. Now look where we are. If the people you employee can not afford to purchase the products you offer there is something wrong. I pray that the "new" corporate leadership will honor the begining, or they shall find themselves at a sad end. I have been with the company for over ten years now and have been everything from a cashier to assistant manager in that time. I came on when the mess with corporate had just been exposed. The problem is not greed at the highest degree, but that they have moved away from their foundation. No building will stand if you first lay a foundation and then build the structure apart from the begining blocks. The man who started this company was pushed out by his son and the son through away all his fathers work for lack of honor. What is needed in to return to the place that was started, and build again. The man that had a vision for “Rite Aid” did so because the minimum pricing was lifted. Now look where we are. If the people you employee can not afford to purchase the products you offer there is something wrong. I pray that the “new” corporate leadership will honor the begining, or they shall find themselves at a sad end.

]]> By: Neil Meislin http://www.footnoted.com/my-big-fat-deal/rite-aids-expensive-changing-of-the-guard/comment-page-1/#comment-11342 Neil Meislin Mon, 01 Feb 2010 19:13:15 +0000 http://www.footnoted.com/?p=4499#comment-11342 The debt load is continuing to weigh this company down. I have sold all my shares, and I am running away from this company. I stopped shopping there as well. I can't find the products I need. Things do not look good for their future. The debt load is continuing to weigh this company down. I have sold all my shares, and I am running away from this company. I stopped shopping there as well. I can’t find the products I need. Things do not look good for their future.

]]> By: H.J. NASH http://www.footnoted.com/my-big-fat-deal/rite-aids-expensive-changing-of-the-guard/comment-page-1/#comment-11317 H.J. NASH Sat, 30 Jan 2010 18:48:01 +0000 http://www.footnoted.com/?p=4499#comment-11317 Judging by the performance of Rite Aid since Ms. Sammons took the top position of the company there should have been NO incentive payment made at all during her tenure - not to mention upon her finally exiting the company (-admittedly, the company has been performing poorly for a much longer period than Ms. Sammons has been in charge). The only positive aspect of the shameful exit package granted to her by another irresponsibly acting Board is the fact that, by all indication, her replacement as CEO, John Standley, will hopefully be a much better leader for the company - as long as he is willing to break up some of the fossilized cultures and practices that have kept this company at the bottom of its industry. Judging by the performance of Rite Aid since Ms. Sammons took the top position of the company there should have been NO incentive payment made at all during her tenure – not to mention upon her finally exiting the company (-admittedly, the company has been performing poorly for a much longer period than Ms. Sammons has been in charge).
The only positive aspect of the shameful exit package granted to her by another irresponsibly acting Board is the fact that, by all indication, her replacement as CEO, John Standley, will hopefully be a much better leader for the company – as long as he is willing to break up some of the fossilized cultures and practices that have kept this company at the bottom of its industry.

]]> By: Beck http://www.footnoted.com/my-big-fat-deal/rite-aids-expensive-changing-of-the-guard/comment-page-1/#comment-11309 Beck Sat, 30 Jan 2010 06:27:20 +0000 http://www.footnoted.com/?p=4499#comment-11309 Sammons is guilty as charged and while this compensation arrangement is a rape of shareholders, it is probably not that unusual. Shareholders get raped so often, it has become a misdemeanor. We should recognize, however, that Sammons was probably forced to step out of the CEO position, and the overlapping compensation was a way of avoiding a larger severance payment and also a way for her to save face. John Standley is sharp and capable, and comes with a good track record. Whether or not he can do anything meaningful with the current situation remains to be seen. But, I do think the comments made by "Dave" are unwarranted, and for the most part inaccurate. Upper management are not ex-cashiers from Rite Aid, and prices there are about the same as the other drugstore chains, on the average. Sammons is guilty as charged and while this compensation arrangement is a rape of shareholders, it is probably not that unusual. Shareholders get raped so often, it has become a misdemeanor. We should recognize, however, that Sammons was probably forced to step out of the CEO position, and the overlapping compensation was a way of avoiding a larger severance payment and also a way for her to save face. John Standley is sharp and capable, and comes with a good track record. Whether or not he can do anything meaningful with the current situation remains to be seen. But, I do think the comments made by “Dave” are unwarranted, and for the most part inaccurate. Upper management are not ex-cashiers from Rite Aid, and prices there are about the same as the other drugstore chains, on the average.

]]> By: Tom Fink http://www.footnoted.com/my-big-fat-deal/rite-aids-expensive-changing-of-the-guard/comment-page-1/#comment-11283 Tom Fink Fri, 29 Jan 2010 17:02:51 +0000 http://www.footnoted.com/?p=4499#comment-11283 One of the worst stock investments ever in my portfolio. One of the worst stock investments ever in my portfolio.

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