Anyway, we'll keep trying.
Happened upon this little ditty about high end Boston jeweler Shreve, Crump & Lowe. The Boston Globe article details some labor charges facing the company, but the interesting element for me centered around our "Billionaire Steve Karp's" investment in the company.
He apparently had a stake in the jewelry store before exiting last year.
Karp, who along with his partners invested an undisclosed sum in Shreve’s, said he had no involvement in operations and was unaware of the federal investigation.
“It hadn’t been financially successful,” he said. “We didn’t want to keep putting more capital in the business. We were happy to get out of it.”
Says to me that Karp isn't afraid of pulling out of a deal if the numbers don't swing in his favor. Doubt that will ever happen here, but who knows. He acquired most of the downtown seven years ago (2005). That's a long time to a dog and to an investor.
One has to think his firm, Newburyport Development, is making money from the shops, restaurants and marinas. But is operational revenue enough?
2 comments:
I'm reminded of Shreve's old tagline :
"Two floors & who knows how many stories"
It's too bad.David Walker and his twenty something boy band will drive the business into the ground. Its only a matter of time. After reading he fired a married gay couple on the same day was repulsive.His actions speak volumes.I'm surprised the state's anti discrimination agency is not looking into this. This is a terrible..
Post a Comment