My Minute of News with Jeff Caplan

The Big Spanx Giveaway


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We’ve seen this countless times. The founder sells his company to an investment firm.  Next thing a bunch of beancounters in expensive suits show up… and they start laying people off.  To “tighten up the balance sheet.”

But not at Sarah Blakely’s company.  20-years ago she invented panty hose without the feet.  Nobody thought of it. 

So she started Spanx.  And her idea was noticed by Oprah.

Oprah Raved…

And the rest is history.  With an emphasis on female empowerment… Spanx grew and grew until last week… Sarah Blakely sold the company to an investment firm for 1-point-2 billion dollars.

Normally… the 500 employees would fear for their jobs at this point.  But that’s not what happened.   Instead Sarah Blakely said thank you.  A 6 million dollar thank you.

The Spanx women screamed.  There were tears.  They cried.   But Sarah Blakely had more.

So now you can think about where in teh world you’d go… if you worked Sarah Blakely.  But you don’t.  And you’ll go home… wishing you did.

In that moment of celebration… the employees didn’t realize the best news of all.  After the sale… Sarah Blakely is staying with the company.

 So now you can think about where in teh world you’d go… if you worked Sarah Blakely.  But you don’t.  And probably wish you did.

We’ve seen this script before.  The founder of a company sells out to some blue-chip investment firm.;  Next thing that happens a bunch of beancounters show up in expensive suits… and then come the rumors… and the layoffs as the numbers crunchers “tighten up the balance sheet.

But Sarah Blakely ran a different kind of company. 

People crying

So now you can think about where in teh world you’d go… if you worked Sarah Blakely.  But you don’t.  But righty now… you probably wish you did.

See omnystudio.com/listener for privacy information.

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My Minute of News with Jeff CaplanBy Jeff Caplan, KSL Newsradio

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