Another sign of the times - Creative Memories has filed for CH 11 Bankruptcy protection

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Posted 11/13/2008 by anmore in General Scrappin'
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anmore
AncestralPea

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Posted: 11/13/2008 10:29:15 PM
article here

Aren't some GG's on their design team? Since CM is so bad at sharing information, I thought they should know.


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newlaxfan2
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Posted: 11/14/2008 12:15:31 AM
Wow!

journey fan
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Posted: 11/14/2008 1:03:54 AM
I was just bloggin' about this! Wow It's all over the business wires but not much being said yet in scrapbook land, so I'm glad you posted it here. I feel badly for any consultants. It sounds like the company has a plan, and I hope it works out to where the remaining employees and all the consultants are safe....



{Betsy}
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Posted: 11/14/2008 2:23:19 AM
I hope they can work things out and stay in business. Hope none of the consultants lose their jobs. I love their cutting tools, but haven'b been able to afford them yet.


~ Betsy ~ {Formerly known as scrapn4keeps.}

Calorie Croppers Motto for 2013: "When you improve a little bit each day, eventually big things occur. Don't look for big, quick improvement. Instead, seek small improvement one day at a time. That's the only way it happens -- and when it happens, it lasts." ~ John Wooden




scrapnpea
StuckOnPeas

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Posted: 11/14/2008 6:55:11 AM
Unfortunately scrapbooking was slowing down in sales and popularity over the past year and as the economy hit bottom free income for many people dried up, this means alot of companies who rely on sales based on unnessary products go under. I see many companies moving from scrapping to other crafts, or producing less. I feel this is the beginning of what we will see in this market, sadly our choices of products may return to the slim pickings they were when I began scrapping many years ago. This is when a Martha, who has many other areas of products can carry the burden and many companies can not. Sad but true, we are losing lots of companies.









scrappinlily
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Posted: 11/14/2008 7:30:29 AM
I'm a CM consultant and I think you all need to read the article carefully....it's not CM that filed for bankruptcy protection...it's our parent company Antioch to restructure debt to make CM stronger.....it's business as usual for CM....we're not panicking.


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KIM.B
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Posted: 11/14/2008 7:45:53 AM
Yes, the parent company filed for Chapter 11 but throughout the article they directly ask about how Creative Memories could wind up in this situation. If I were at CM I would be cautiously optomistic.

Kim

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Posted: 11/14/2008 7:57:42 AM
Sad news for the industry.



mjmone
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Posted: 11/14/2008 8:37:22 AM
I dunno,
as a fairly new scrapper, who wasn't a part of the CM era, I see them as 'archaic'

They are expensive, (though I understand their tools and albums are top quality)...the papers are not 'thrilling' (associate sticker sneeze to CM)...the mojo of "CM only" is off putting... esp to the new scrapper..

So, I don't know if this is 'the sign of the times' as much as it is their inablity to market themselves to a large segment of the scrapbookers.





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stampcrazychick
PeaFixture

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Posted: 11/14/2008 9:06:25 AM

They are expensive, (though I understand their tools and albums are top quality)...the papers are not 'thrilling' (associate sticker sneeze to CM)...the mojo of "CM only" is off putting... esp to the new scrapper..

So, I don't know if this is 'the sign of the times' as much as it is their inablity to market themselves to a large segment of the scrapbookers.


I'm gonna have to agree with this. CM has not stayed up with current scrapbooking trends/styles and I think that's a big part of their problem. They do make some great tools, but tools are not a consumable product like paper, adhesive, embellishments, etc. Retail markets need those consumable products to drive consistant sales -- tools are bigger money for them, but they need the return sales they get from consumable products and their consumable products have sadly lacked over the years especially in comparison to what else has been available. While it's sad to see happen, I'm really only surprised it took this long.

anmore
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Posted: 11/14/2008 9:31:54 AM

I'm a CM consultant and I think you all need to read the article carefully....it's not CM that filed for bankruptcy protection...it's our parent company Antioch to restructure debt to make CM stronger.....it's business as usual for CM....we're not panicking.


Throughout the article they are referencing the sales numbers of Antioch, which has ONE subsidiary I believe...CM. You may not be panicking, (which is good, because it's not like this is GM), but people (consumers) should be aware of this info. Ch 11's often end up in complete dissolution. Re-orgs do not always work, especially if your product is not a necessity, is overpriced in the market, and your sales force has reduced by 30,000 in the last 3 years.

ETA - I am incorrect - 7 subsidiaries. The most viable being CM.


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aJerseyGirl
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Posted: 11/14/2008 10:10:50 AM
I'm not a business person, but I wonder if part of the problem for CM is that their products are just not that accessible. I mean, I know there are lots of CMCs out there with customers, but there are a lot more scrappers that CMCs don't reach.

Add that to the fact that scrapping shopping is fun! So, when we're strolling the aisle to see what to add to our stash, there's no CM along with the other stuff. Personally, I'd rather shop the aisles or even browse online stores with lots of choices laid out for me. If CM was right there along with the other manufactures, who knows, I might buy some if it was just as appealing and priced similarly to other brands.



caspad
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Posted: 11/14/2008 10:15:07 AM

I'm gonna have to agree with this. CM has not stayed up with current scrapbooking trends/styles and I think that's a big part of their problem. They do make some great tools, but tools are not a consumable product like paper, adhesive, embellishments, etc.


Then you haven't seen a CM catalog in the last 2 years.

I don't work for CM but I have friends who are consultants and I've been very very impressed with the paper collections and product offerings.

beautiful 2 sided paper collections in "fashion forward" colors and patterns, true 12x12 albums, emphasizing layouts based on sketches to maximize your time, a wide range of digital offerings including photo organization software, printing and digital hardbound albums, a design team filled with people whose work you see in the magazines every month - including several Garden Girls

I haven't seen a sticker sneeze or corner triangles in a long long time!

Creative Memories has indeed kept up with the times and the marketplace, IMHO.


Christi in MA

scrap4maddie
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Posted: 11/14/2008 10:23:20 AM
People aren't going to be running to place orders when they hear about this. I also feel that they are out of touch. Even if they have tried to update their image it may be too late. It is not like I can walk into a store and see their new look.


~Erica~







auntsugars
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Posted: 11/14/2008 11:03:12 AM
This is what CM is telling their consultants:






Creative Memories’ Parent Company Restructures Debt

The Antioch Company, parent company of Creative Memories, on Thursday, Nov. 13, announced a plan to restructure its debt.

The restructuring plan allows Creative Memories to move forward with its plans to further develop its digital and traditional product lines.

We want to assure you that this internal restructuring process will not affect you or how you operate your business. To put it simply, Creative Memories is a great business – a profitable business. We simply are constrained by the debt of our parent company.

Watch your mail for a letter from Asha Morgan Moran, global president for Creative Memories, outlining in more detail the nature and purpose of the restructuring plan. Creative Memories also has scheduled a series of conference calls on Friday, Nov. 14. Please feel free to join us at one of the following times (all are Central Time):
• 10 a.m. – Dial (866) 283-**** and enter confirmation No. ******
• Noon – Dial (866) 225-**** and enter confirmation No. ******
• 2 p.m. – Dial (866) 814-**** and enter confirmation No. ******
• 4 p.m. – Dial (866) 835-**** and enter confirmation No. ******

Investing in the future
As part of our agreement with the banks, The Antioch Company on Nov. 13 filed voluntary petitions for Chapter 11 protection. This pre-packaged plan of reorganization means that an agreement already has been reached with our lenders to reduce The Antioch Company debt. The pre-existing arrangement also means we can move swiftly to increase our investment in promising areas of the business, such as digital, while continuing to remain true to our traditional scrapbooking roots.

The object is to position ourselves for growth. Many other well-known companies – Chiquita, Macy’s, Delta and Continental Airlines – have emerged from this process as stronger, more successful organizations. It is our belief that, with the continued commitment of our dedicated Consultants and employees, we can add our name to that esteemed list.

Please feel free to visit our Home Office Updates page for ongoing information. A public statement also has been posted on CreativeMemories.com.*

Throughout the restructuring process, which should be done by year’s end, please know that Creative Memories will continue to provide the quality service and products that you and your customers have come to expect.

coconut01
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Posted: 11/14/2008 11:14:18 AM
like most I started with CM, I still use the cutting shapes and I love their albums, and all my albums, except two are theirs.

I have moved away from their tape runners, the ATG was just a better option for re fil prices in the long run, and I can just stop at my store, not need to call first, see if they are home and/ or order.

Also the deliver fee they now charge sort of annoyed me, seeing as they did not deliver to us, but she will if it is a huge order.

The only time I order is when I need album pages, or at christmas. She has an open house and you make a wish list, I usually get enough pages and such to hold me over for the year.




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carpecakem
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Posted: 11/14/2008 11:19:21 AM
That letter makes it sound like they don't want to panic the consultants making more of them wanting to leave the company. I agree with the others, I just looked at the CM website, and their scrapbooking papers and embellishments still seem very dated. Maybe they have moved on from the sticker sneezes, but the papers and vellum words?!? are things I'd have purchased 3-5 years ago.



kateyb
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Posted: 11/14/2008 12:25:52 PM
It really doesn't surprise me that CM would be filing for Chapter 11. The good tools that they sell do not break so no repeat business that way, other than someone new buying the tools. The rest of their products hold zero interest for me, even the current catalogs. It is too bad but I really feel they did not keep up with the times and were in denial for 5 years about the need to change, to keep up with industry trends. Really no worse than GMC, Ford, etc. who have been in denial of what the market wants for 30+ years. And considering that lss's have been going out of business in droves, if you can't keep up with new product you are dead in the water.
Kate



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Posted: 11/14/2008 12:54:36 PM
I started with going to a CM workshop my friend dogged me about (she was a CMC)....so I went and frankly never was interested in their products.
So I am not surprised and wont miss them at all.


Jacki
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Posted: 11/14/2008 1:06:08 PM
I think they were about 5 yrs too late on offering true 12x12 scrapbooks and getting rid of some of that totally dated stuff that just kept hanging around and around and around.


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writermom1
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Posted: 11/14/2008 1:10:12 PM

They are expensive, (though I understand their tools and albums are top quality)...the papers are not 'thrilling' (associate sticker sneeze to CM)...the mojo of "CM only" is off putting... esp to the new scrapper..

So, I don't know if this is 'the sign of the times' as much as it is their inablity to market themselves to a large segment of the scrapbookers.


It pains me to agree with this because one of my dear friends has been a CMC for years, introduced me to scrapbooking, and is a great CMC (she's not some rabid contraband-hater

That said, even when 'keeping up' CM seems to have a little too little, little too late, problem. They've sort of tried to sell themselves as like the Talbots of scrapping (for lack of a better analogy). They're more "classic" and a bit upscale even as they don't tend to have anything 'sexy' and trendy to incite consumers to say "omgosh I have to have that!"

I was uber loyal to CM for tools (and they are top notch, my 8+ year old cutting system is still the bomb!) but eventually I wanted more splash, fun, "new stuff!" and, even as we complain about prices, the truth is I could pick up Bazzil or something "trendy" from one of the major manufacturers for as much, if not less, as I would pay CM.

Finally, when they do 'debut' a new product they still seem to suffer from "CM Blinders." Like Memory Mate. I wanted to be supportive but seriously, as I was shown "Memory Mate" I just kept nodding and saying "yeah, it's just like Adobe PSE."

So why then would you basically prefer the knockoff (CM's product?) to the original (Photoshop Elements?)

It honestly only seemed like it could appeal to people who didn't have anything else to compare it to? I don't think that is most consumers anymore is it?

I wish them well and hope that they pull it out. I will always be grateful for finding scrapping and starting with CM.




WendyinPA
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Posted: 11/14/2008 2:57:50 PM
Hello All. I am a CMC and have been for 7 years. I am currently, as I type this, listening in on a consultant call about the bankruptcy. I'd like to clarify some points:

CM did NOT file bankruptcy. Their parent company did. Antioch owns 7 companies, 1 of which is CM. Of the 7, CM is the ONLY company that is profitable and the ONLY one that will survive the restructuring. And it really is a restructuring of Antioch and not CM.

This is actually a GOOD thing for CM. Instead of our profits going to support 6 companies that cannot cover their own expenses, CM will be able to spend their hard-earned money on their business. This is good for consultants and good for our customers because it means more and better products.

Yes, CM has been a bit slow to respond to industry trends but the strides they have made in the last 2 years are amazing. I am an all-access scrapper (I never met a scrapbooking product I didn't like) and in the past I have disappointed in the breadth of our offerings. However, lately, my disappointment has been greatly diminished. Do they offer it all? No, but then again, does anyone? Not to my knowledge. If you haven't taken a good look at CM recently, give it another chance. You may be surprised. The switch to True 12x12, the incorporation of design team members that don't just use CM products, and our new papers are aligning us much more closely with the rest of the industry.

As for me, I am not worried about the future of CM. For the past hour I have been listening to the head of the company explain the situation and answer consultant questions honestly and from the heart. I believe that CM will be a much stronger company now that this has happened.



tbearspea
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Posted: 11/14/2008 3:41:25 PM
Interesting and timely thread for me as I have recently "re-discovered" Creative Memories.

I found a great consultant back in September and a nice new bunch of women to scrap with. It has been a breath of fresh air for me.

Ya wanna know why? Because I went back to basics. And I am happy there.

Yes, like many others, CM is how I starrted scrapping back in 1995. Over the years I tried all the new products and techniques, went to a ton of classes, mega meets, conventions, retreats, found the "ultimate" LSS, had my own scraproom, and dabbled in it all.

Then I moved in April. I got rid of a ton of crap and don't miss it at all. No scraproom, no choices that would boggle the mind. i kept the stuff I knew I would use.

I am a simple scrapper. I use carsdtock and patterned paper and all different kinds of embellishments. But I use them sparingly on a page. I also do a LOT of journaling. I don't need all that crap anymore.

For me, once CM went to 12x12, I took a second look. I liked what I saw.

I like their simple style. I like their coordinating paper families. I use those vellum words, on pages and cards. I like their goofy little journaling boxes. I use fine tip pens/markers. Not all my journaling is done on the computer. Their new paper lines are beautiful.

I love their adhesive. I used to buy Duck all the time. Now the 4 packs are hard to find. Several of the Ducks broke at the very beginning of the tape. So I went back to CM adhesive. Love it!

There's only one thing they totally missed the boat on in the last 4 years - not making a very large circle in their cutting system.

If they had come out with one size (or two) of those big circles, they would have made a killing. They should have done a large oval one, too, like the pink "rare" Memory Keeper Club one from 10 years ago.

I wish them luck - I hope they weather the storm.

stampcrazychick
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Posted: 11/14/2008 5:26:24 PM

Then you haven't seen a CM catalog in the last 2 years.


WRONG! I HAVE seen the last few catalogs . . . not impressed. Especially for what they offer and their prices. Even more not impressed because I live in Utah and have a TON of scrapbooking products available . . . and really, even if I didn't, I still wouldn't be buying from CM. Sorry. IMO they are behind the times and have been for quite a while. Their efforts to catch up in the last couple of years have been too little too late and they're now reaping the rewards for that.

Saltymom
StuckOnPeas

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Posted: 11/14/2008 6:00:52 PM

I dunno,
as a fairly new scrapper, who wasn't a part of the CM era, I see them as 'archaic'

They are expensive, (though I understand their tools and albums are top quality)...the papers are not 'thrilling' (associate sticker sneeze to CM)...the mojo of "CM only" is off putting... esp to the new scrapper..

So, I don't know if this is 'the sign of the times' as much as it is their inablity to market themselves to a large segment of the scrapbookers.


They have really changed things up quite a bit in the last couple of years, and they have begun marketing to all types of scrapper. they are reaching out to the person who doesn't have a desire to "scrapbook" but who wants to get their pictures in albums quickly. They have gone digital, and they are addressing a huge population with this. Plus you have "traditional" scrapbook touch and feel paper, that is beautiful. Some of it's great, some not, but then I don't like all the new paper that comes out in every line either.



WRONG! I HAVE seen the last few catalogs . . . not impressed. Especially for what they offer and their prices. Even more not impressed because I live in Utah and have a TON of scrapbooking products available . . .


I'm not sure what this has to do with CM as I live in Utah also, and in the last 6 months have seen 3 scrapbook stores close here. They are dropping like flies. However, my CMC, who welcomes anyone and everyone to her crops and who doesn't care what they bring, told me that her business is booming. Much different than my friend who's sales at her SB store that she just closed were $14,000 down from last year at the same time.


Finally, when they do 'debut' a new product they still seem to suffer from "CM Blinders." Like Memory Mate. I wanted to be supportive but seriously, as I was shown "Memory Mate" I just kept nodding and saying "yeah, it's just like Adobe PSE."


Have you played with Memory Manager? It is an awesome program. Very user friendly, unlike PSE. (I have used both). In fact, my friend, who is a graphic designer by profession said that she was able to do in CM's program in 10 minutes what it takes her 20-30 in PSE.

I hope I haven't offended anyone, but these are just my observations. I have watched many companies rise quickly and then crash and burn...those were the ones that were trendsetters and up on the trends. Too much, too fast. Some may say CM is outdated and old-fashioned, but they have always provided a really top-notch product. You can't say that for every company.

As far as the Chapter 11 goes, my understanding is that Antioch corporation, CM's parent company, is the one who filed. Chapter 11 is usually a reorganization which allows a business to pay their creditors over a period of time.


scrapnpea
StuckOnPeas

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Posted: 11/15/2008 7:26:02 AM
As a long time scrapper I never fell into CM because of cost and availability. I am one who when I want something, I want it now , so it never was a go to for me. I also found the cost for the product high, I never thought it was great quality for the money.
I so understand where the reps are coming from because years ago i was rep for a company and we were never told "negative" information because of course it would cause a drop in sales.
The truth is many companies are going to fail in this economy and the ones who depend on free income from consumers will struggle and many will fail. Consumers hold on to any extra money in times like this, they do not spend on extras. We all hope for the best for all scrap related companies but the facts are the facts, and many will not make it.









tchk
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Posted: 11/16/2008 1:48:19 PM
I checked in here to see what was being said about the CM/Antioch announcement. I'm sad to see that some feel the need to be so nasty in their negative reviews of CM.

I'm also amused at the "trendiness" complaints. Whenever I read these- here or at other sites- I always laugh at the ridiculousness of the complaints. I *thought* we were preserving memories!

I can just hear my grandchildren, 30 years from now, looking at a scrapbook and saying "oh, Grandma was SOOO out of date! Look, she used edging scissors in 2008 and EVERYONE knows that NO ONE was using them by then".

Finally, clearly there *are* people here who do use CM supplies and the nasty comments denigrate their work and their scrapbooks.

Is this really supposed to be about one-up-man-ship?

aJerseyGirl
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Posted: 11/16/2008 4:26:51 PM

I checked in here to see what was being said about the CM/Antioch announcement. I'm sad to see that some feel the need to be so nasty in their negative reviews of CM.

I'm also amused at the "trendiness" complaints. Whenever I read these- here or at other sites- I always laugh at the ridiculousness of the complaints. I *thought* we were preserving memories!


tchk- I didn't read anything particularly nasty about CM. Some feel that their products are dated and you seem to agree (I'm referring to your Grandma comment). I'm glad that doesn't matter to you. My grandchildren some day will not care if I used deco scissors or not, of course. But it's a matter of what I feel like using now. Yes, we want to preserve memories, but it's a fun activity also. If it wasn't, then I'd just use a regular photo album with notes jotted down next to the photos. But I want to have fun with my supplies. If CM wants to continue and have even more customers than they have now, they should keep up with what a large amount of the scrapping population wants to use. But it's their choice. If they want to stay in their nook, then to each their own.


stefeeeee
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Posted: 11/16/2008 8:12:49 PM
I feel sorry if anything does happen to the reps... but I've had bad experiences with CM reps. They down other companies, and are extremely negative about using other creative techniques and products with photos. I've seen some reps that REFUSE to scrap with others who don't use any company exclusively.

I have a friend who is a rep and she is this same way. Scrapping to me is more than flinging photos on a page, its a creative outlet for me.

To each their own. While some of us might have the negative feelings for CM, this can maybe explain it. They have a few cute things here and there, but are not on the cusp of design by my standards, and I have high ones, since design is my life!!


anmore
AncestralPea

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Posted: 11/16/2008 10:13:06 PM
There is an update on the blog referenced in the first post. Doesn't improve the reputation of CM owners and management. My question would be if that was how they treated their home office and warehouse staff, how will they treat their sales force?

There is also reference to a lawsuit for past due rent.



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TheresaXXX
PeaNut

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Posted: 11/16/2008 11:18:51 PM
I posted this analogy to another thread.

Saying that it was Antioch that filed for Chap. 11 and not CM, so there's no need to worry about CM, is like saying that even though General Motors is having financial dificulties, nothing's wrong at Chevrolet.

Now is the time for CM Customers to purchase what they need (and hopefully help boost revenues for CM); for CMCs to encourage their customers and really work their businesses (without creating or increasing debt); and for CMCs and customers alike to prepare for the worst and hope for the best.

writermom1
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Posted: 11/17/2008 6:49:17 AM

I checked in here to see what was being said about the CM/Antioch announcement. I'm sad to see that some feel the need to be so nasty in their negative reviews of CM.

I'm also amused at the "trendiness" complaints. Whenever I read these- here or at other sites- I always laugh at the ridiculousness of the complaints. I *thought* we were preserving memories!



You are entitled to your opinions, obviously. That said, the "tone" of your comments is, to me, an exact synopsis of what is "wrong" with CM on so many levels.

Condescension and derision if anyone dares to point out that you don't offer much ("oh well you want TRENDY? Trendy is STUPID!" "Aren't you about PRESERVING your MEMORIES?" "Aren't your MEMORIES what matter?" as if preserving memories and doing it with fun, cutting edge supplies (pun!) are mutually exclusive!

Can't we do both?

I think most SCRAPPERS can.

The problem seems to be that CM cannot.

I'm not a hater and never said anything "mean" or particularly nasty about them. However, not pointing out my opinion that they are behind the times and tend to react to trends rather than set them isn't being mean - it's being honest.

To continue the analogies already given, if I say my minivan is certainly no sportster but hey, it gets me there in comfort - isn't being "mean" to my minivan or anyone else who drives one - it's being honest (according to my opinion).

CM has, basically, tried to make the customer fit their product - instead of the other way around.

Like I said, it's almost the Talbots of scrapbooking. Strong, solid, serviceable and classic. Nothing wrong with that but it's not what the "masses" are buying.

If you can build a customer base off it - good for you!




anmore
AncestralPea

PeaNut 56,372
November 2002
Posts: 4,912
Layouts: 0
Loc: Buffalo, NY

Posted: 11/17/2008 6:55:28 AM
Both "trendy" scrapbookers and "memory keepers" still buy with cold hard cash...seems to me that is what CM needs right now. Bad business to exclude a consumer base because of their reason for scrapbooking.


NSBR: Not for sissies.

If you don't like gay marriage blame straight people. They're the ones who keep having gay babies!

Sarah*H
Bring me that horizon!

PeaNut 239,162
December 2005
Posts: 29,196
Layouts: 417
Loc: The final frontier

Posted: 11/17/2008 7:29:16 AM

I'm also amused at the "trendiness" complaints. Whenever I read these- here or at other sites- I always laugh at the ridiculousness of the complaints. I *thought* we were preserving memories!

I can just hear my grandchildren, 30 years from now, looking at a scrapbook and saying "oh, Grandma was SOOO out of date! Look, she used edging scissors in 2008 and EVERYONE knows that NO ONE was using them by then".


Do you think by insulting people who don't care for Creative Memories products, you're going to convince them to buy them? I buy current, stylish things for my wardrobe and my home so why on earth would I not do the same thing for my hobby? And when I scrapbook, it's about the fun of creating stuff, not worrying about what my great-great grandchild is going to think about which deco scissors I used in the process.



OhKayKay
PeaNut

PeaNut 98,240
July 2003
Posts: 269
Layouts: 0
Loc: Minnesota

Posted: 11/17/2008 8:34:01 AM
I am a CTMH consultant - living in MN - who has a great CM gal who invites me to her crops - and is open to one and all - and she gets my business.

So - whether you are a die-in-the wool consultant - who only uses her (or his) own stuff - or a consultant (like many of us) who use all kinds of things - we know business is suffering for all of us - and I wish my fellow CM consultants good luck during this transition.

Kay

stampcrazychick
PeaFixture

PeaNut 328,112
July 2007
Posts: 3,127
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Loc: Utah

Posted: 11/17/2008 8:46:48 AM
Bravo writermom1!!!

NothappywithCM
PeaWee

PeaNut 400,159
November 2008
Posts: 5
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Posted: 11/17/2008 8:49:03 AM
Ladies, Please check the facts regarding the last few years @ CM and you will find that the demise of this company is not the downturn in the economy nor the forced retirement of many of the good employees, BUT THE MONIES RECEIVED BY THE CURRENT MANAGEMENT AND SPECFICALLY ASHA MORAN AND HER FATHER SUCKING OUT APPROXIMATELY $138 MILLION DOLLAR OUT OF THE COMPANY (THIS IS WHY THEY HAVE DEBT) Think about it? Isnt it sad that a company that was doing so splendidly well (till Asha and Lee took out these funds) somewhat suddenly is going down the tubes. You poor consultants and employees, I feel sorry for you and hope you all join forces to overturn this greedy family of fake intent.


NothappywithCM
PeaWee

PeaNut 400,159
November 2008
Posts: 5
Layouts: 0

Posted: 11/17/2008 8:49:11 AM
Ladies, Please check the facts regarding the last few years @ CM and you will find that the demise of this company is not the downturn in the economy nor the forced retirement of many of the good employees, BUT THE MONIES RECEIVED BY THE CURRENT MANAGEMENT AND SPECFICALLY ASHA MORAN AND HER FATHER SUCKING OUT APPROXIMATELY $138 MILLION DOLLAR OUT OF THE COMPANY (THIS IS WHY THEY HAVE DEBT) Think about it? Isnt it sad that a company that was doing so splendidly well (till Asha and Lee took out these funds) somewhat suddenly is going down the tubes. You poor consultants and employees, I feel sorry for you and hope you all join forces to overturn this greedy family of fake intent.


NothappywithCM
PeaWee

PeaNut 400,159
November 2008
Posts: 5
Layouts: 0

Posted: 11/17/2008 8:49:22 AM
Ladies, Please check the facts regarding the last few years @ CM and you will find that the demise of this company is not the downturn in the economy nor the forced retirement of many of the good employees, BUT THE MONIES RECEIVED BY THE CURRENT MANAGEMENT AND SPECFICALLY ASHA MORAN AND HER FATHER SUCKING OUT APPROXIMATELY $138 MILLION DOLLAR OUT OF THE COMPANY (THIS IS WHY THEY HAVE DEBT) Think about it? Isnt it sad that a company that was doing so splendidly well (till Asha and Lee took out these funds) somewhat suddenly is going down the tubes. You poor consultants and employees, I feel sorry for you and hope you all join forces to overturn this greedy family of fake intent.


stampcrazychick
PeaFixture

PeaNut 328,112
July 2007
Posts: 3,127
Layouts: 0
Loc: Utah

Posted: 11/17/2008 8:50:32 AM

I'm not sure what this has to do with CM as I live in Utah also, and in the last 6 months have seen 3 scrapbook stores close here. They are dropping like flies. However, my CMC, who welcomes anyone and everyone to her crops and who doesn't care what they bring, told me that her business is booming. Much different than my friend who's sales at her SB store that she just closed were $14,000 down from last year at the same time.



Just to address this, yes we've had several stores close. But the ones that have closed, had problems . . . too much old inventory, not enough new inventory, debt, poor management, etc. Kind of like CM IMO. Stores, and CM and their consultants, thrive when they fulfill the needs of their customers and do it with smart business skills. Those than can't or won't, go away. It's just how business is.

zen_scrapper
StuckOnPeas

PeaNut 319,418
May 2007
Posts: 2,093
Layouts: 65
Loc: Cincinnati-ish

Posted: 11/17/2008 8:54:38 AM

I'm gonna have to agree with this. CM has not stayed up with current scrapbooking trends/styles and I think that's a big part of their problem. They do make some great tools, but tools are not a consumable product like paper, adhesive, embellishments, etc.
--------------------------------------------------------------------------------



Then you haven't seen a CM catalog in the last 2 years.

I don't work for CM but I have friends who are consultants and I've been very very impressed with the paper collections and product offerings.

beautiful 2 sided paper collections in "fashion forward" colors and patterns, true 12x12 albums, emphasizing layouts based on sketches to maximize your time, a wide range of digital offerings including photo organization software, printing and digital hardbound albums, a design team filled with people whose work you see in the magazines every month - including several Garden Girls

I haven't seen a sticker sneeze or corner triangles in a long long time!

Creative Memories has indeed kept up with the times and the marketplace, IMHO.


I have seen the most recent CM catalogs and although I agree that their tools are great, the paper collections leave much to be desired. The last thing I bought from a CMC was a pack of pens...a year and a half ago.

I'd much rather drop $100 at Archiver's or an online store than in a CM catalog.



Peas OnEarth

PeaNut 179,732
December 2004
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Posted: 11/17/2008 10:17:34 PM
I love CM and always have. I am 99% a digital scrapper now and could not be happier with CM. I love the albums and finally since they switched to 12x12 can be happy with them. I use the portrait sleeves/albums and print my 12x12 pages at Costco. I LOVE Memory Manager and SBC+. If the company goes bye bye I really hope someone picks up the albums and the digital stuff because there is no comparison out there that I have found and I have tried it all!

GoBucs!
StuckOnPeas

PeaNut 16,888
June 2001
Posts: 2,951
Layouts: 8
Loc: CNY

Posted: 11/18/2008 8:06:32 AM

CM did NOT file bankruptcy. Their parent company did. Antioch owns 7 companies, 1 of which is CM. Of the 7, CM is the ONLY company that is profitable and the ONLY one that will survive the restructuring. And it really is a restructuring of Antioch and not CM.


Creative Memories generates 95% of Antioch's revenues, so to say that Antioch is having problems and CM is not IS NOT TRUE.

Here's an article: Antioch and CM

scraphappynj
PeaWee

PeaNut 400,313
November 2008
Posts: 3
Layouts: 0

Posted: 11/18/2008 10:52:22 AM
NothappywithCM can you tell me where you got your facts. I have tried to google it to see what you were talking about an haven't found anything yet. So, if you could point me in the right direction, I would really appreciate it I am very curious and would love to see this!!

On another note, I will admit to being a CMC. That being said, I am not exclusive - I stamp in my albums, use my cricut and lots of other stuff. I think the era of the CM Nazi left LONG ago. I've never met any in my area. But I do have a core group that us 90% CM. Why? Because they don't have the time to make each of their kids an album if it is going to take them an hour to do to 2 pages. They love the new products that make it even easier for them, while giving them a great page. I feel the same way sometimes too. Some people really do just want to create a great looking album without a lot of fuss.

GoBucs!
StuckOnPeas

PeaNut 16,888
June 2001
Posts: 2,951
Layouts: 8
Loc: CNY

Posted: 11/18/2008 11:18:33 AM
There are a number of postings about CM here: CM stuff

I'm not sure if the situation NothappywithCM posted about is in one of these blog posts or not. I know I read about it somewhere last night.

I've got errands to run, so I'll try to find the exact location later today.

cherishbound176
PeaWee

PeaNut 399,739
November 2008
Posts: 5
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Loc: Florida

Posted: 11/18/2008 11:38:23 AM
My two cents:

From what I've heard from a VERY VERY good source is that they need a plan to save this company and from everything I have heard, that plan is digital. That claim is supported by their move in their most recent catalog/magazine. The thing is, the digital train has left the station and they just aren't on that train. They may jump on at a station down the tracks, but again, in CM tradition, it's too little, too late. The are jumping on that train with A LOT of baggage, for sure! You dance with the one that brought you. With scrapbook stores closing right and left they have this one window of opportunity to regain their focus and reclaim their spot as leaders in the traditional scrapbooking market.
But will they? And as far as mincing words about WHO is filing for bankruptcy - that is nothing but spin. Using the fact that your parent company is the one that has filed for bankruptcy would only comfort those who are uneducated about business - that isn't a good thing and I feel sorry for those who have placed their trust in people who have nothing but self-interest in mind and have proven that time and time again with their business practices. All of their bad decisions are just catching up to them - and those who can have taken their money and run!

Here's a great link as well...

http://www.scrapbookupdate.com/scrapnancy/2008/11/antiochcreative-memories-bankruptcy-update.html


Tara Brown
www.publishourstories.com
www.findcaptureandshare.com

TeaLBPea
Schnauzer Mom!

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March 2005
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Posted: 11/18/2008 12:38:59 PM

From what I've heard from a VERY VERY good source is that they need a plan to save this company and from everything I have heard, that plan is digital. That claim is supported by their move in their most recent catalog/magazine. The thing is, the digital train has left the station and they just aren't on that train. They may jump on at a station down the tracks, but again, in CM tradition, it's too little, too late.


But CM didn't just jump on the digital train in their most recent catalog. My consultant has been pushing it for well over a year. I personally am not interested in switching to digital.


Teresa

cherishbound176
PeaWee

PeaNut 399,739
November 2008
Posts: 5
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Loc: Florida

Posted: 11/18/2008 1:07:57 PM
can't figure out how to copy a quote ) ...but the post above this

"But CM didn't just jump on the digital train in their most recent catalog. My consultant has been pushing it for well over a year. I personally am not interested in switching to digital"

That's the problem....the train left a LONG time ago for digital. Digital has been around for over 5,6,7+ years now and doing VERY well. They got on too late, leaving behind what they were REALLY good at. They added to many options...they pretty much created a product line that just cannibalized itself. There are people who are NOT interested in digital....and that's 100% perfectly fine. That's why they should have stayed with what they were good at (traditional), and move forward with those trends quicker. They didn't move forward with the changing trends of traditional, but jumped on every other bandwagon way too late. They cannot survive with being a jack of all trades and master of none, which is what has happened.

here's a fact: 45,000 consultants, around 10% promote digital, (anyone who has published at least once in the past year....) do the math?


Tara Brown
www.publishourstories.com
www.findcaptureandshare.com

NothappywithCM
PeaWee

PeaNut 400,159
November 2008
Posts: 5
Layouts: 0

Posted: 11/18/2008 5:04:46 PM
The Morgans convinced the company to buy back all the family shares at a premium price and then turn the company to 100% ESOP so that the family was completely protected from a down turn and they were set. http://www.morganfamilyfdn.org/family.html

Now most of the employees that have worked there for years to make them millions- have nothing but a pat on the back and a big cheer to say- let’s start over. This will be a perfect case study at MBA schools all over the country on how a company that had so much going for it- could be driven to its death by such poor leadership. Truly a waste…but I guess if it can teach others how not to run a business- then there is silver lining in there somewhere.


Supporting this company and their products, undermines the promises to the employees that have not been kept, How would you feel? losing all of your vested retirement savings and having the same exact management running a new company which assets came directly from these (your) funds.

YOUR LIFE, Your Story, OUR WAY,,,,,,SUCker

NothappywithCM
PeaWee

PeaNut 400,159
November 2008
Posts: 5
Layouts: 0

Posted: 11/18/2008 5:04:52 PM
The Morgans convinced the company to buy back all the family shares at a premium price and then turn the company to 100% ESOP so that the family was completely protected from a down turn and they were set. http://www.morganfamilyfdn.org/family.html

Now most of the employees that have worked there for years to make them millions- have nothing but a pat on the back and a big cheer to say- let’s start over. This will be a perfect case study at MBA schools all over the country on how a company that had so much going for it- could be driven to its death by such poor leadership. Truly a waste…but I guess if it can teach others how not to run a business- then there is silver lining in there somewhere.


Supporting this company and their products, undermines the promises to the employees that have not been kept, How would you feel? losing all of your vested retirement savings and having the same exact management running a new company which assets came directly from these (your) funds.

YOUR LIFE, Your Story, OUR WAY,,,,,,SUCker
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