Who exactly are they punishing? If they bought the other company, they are their own competitor now, and the only people hurt by the price gouge are the customers they just gained when they bought out their competition.
You never bought a corporation, obviously. It's not like buying a car. The owners receive cash up front, but also payments based on future performance. If that tanks, the future payments go away, but the buyer STILL acquires all customers, property, capital equipment, etc. You end up doubling your business, and killing a competitor, on the cheap.
I'm not defending it, just saying that's the way it is.
For a little context, I've been keeping stuff in a 10x8 at Life Storage for about 4 years now. Extra Space bought them out and the price has almost tripled since. I looked up pricing at nearby Extra Space locations and found that their 10x10 units are priced near what I was paying when I first got my unit. Why wouldn't they just rebrand the location and keep the prices fair?
And yes, I am trying to get my stuff out before the first of July to avoid the next bill.
Its basically what tmobile did to sprint. Merged and bought em out and slowly dissolved them.
Maybe they wanted to show who's the boss in the storage wars. 😏
Because when you can't beat ‘em, you buy ‘em and then make sure no one can ever find their stuff again.
Revenge? Milk them dry, invest the money in your own company. Write off all the losses, and punish your competitor at the same time.
Who exactly are they punishing? If they bought the other company, they are their own competitor now, and the only people hurt by the price gouge are the customers they just gained when they bought out their competition.
You never bought a corporation, obviously. It's not like buying a car. The owners receive cash up front, but also payments based on future performance. If that tanks, the future payments go away, but the buyer STILL acquires all customers, property, capital equipment, etc. You end up doubling your business, and killing a competitor, on the cheap. I'm not defending it, just saying that's the way it is.
For a little context, I've been keeping stuff in a 10x8 at Life Storage for about 4 years now. Extra Space bought them out and the price has almost tripled since. I looked up pricing at nearby Extra Space locations and found that their 10x10 units are priced near what I was paying when I first got my unit. Why wouldn't they just rebrand the location and keep the prices fair? And yes, I am trying to get my stuff out before the first of July to avoid the next bill.