Hacketts’ new head exec hopes to work magic
By JESSICA COLLIER, Enterprise Staff WriterTUPPER LAKE - It might take some magic to get the Hacketts department store chain back in the black.
But Hacketts' parent company, Seaway Valley Capital Corporation, just appointed a magician as the new head of the Hacketts company.
Herbert L. Becker has been named vice president and chief operating officer of the chain.
Becker has over 30 years of experience in retail, according to a press release from Seaway Valley, and more than 20 of those years were spent as a senior executive.
His diverse background includes experience with public corporations, Internet companies and online shopping, the press release reads.
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Magic
Adding to that diversity, Becker also has extensive experience in magic.
"Magic has been a hobby of mine for the last 45 years," Becker said.
Becker used to perform magic shows as The Great Kardeen and has written several books exposing how magicians do their tricks.
One of those books, "All the Secrets of Magic Revealed," which unveiled the secrets of popular magicians, got Becker and his publisher sued by David Copperfield for revealing his secrets. The lawsuit was resolved when the book was revised.
Becker doesn't perform anymore, but he is still writing about it. He just finished a manuscript for a new book on magic, Becker said.
"I'm hoping I can work some of that magic with Hacketts and turn the place around," said Becker.
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Crisis situation
"Hacketts is in a crisis situation right now," Becker said.
The company had a $5 million line of credit from Wells Fargo Bank that it is struggling to pay off. Becker said that should be completed in four to six weeks.
In order to pay off the debt, Hacketts has been closing stores and selling stocks.
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Tupper Lake store
Despite about half of the Hacketts stores closing or being slated to close in recent months, Becker said that, at this time, the Tupper Lake store on Demars Boulevard is not on the list to be shut down.
Becker said he visited the Tupper Lake store Tuesday, and while he said it needs more work and reorganizing, it is doing well.
"I was happy to see how well the manager is doing with that store," said Becker.
Becker said the people at Hacketts are looking toward the future.
"We are going forward," said Becker. "We are doing what we can to get ourselves turned around."
Inside Hacketts stores, Becker said shoppers will soon see changes, including more merchandise and happier employees.
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Lake Placid
Becker said that Hacketts still has intentions of looking into plans for a store in Lake Placid, but those plans, along with other plans for expansion, are on the back burner.
"We don't know what we're doing yet," Becker said. "Right now we're going to get through the crisis, and we will get through it."
He said once the company is stabilized, he and other administrators can look into the feasibility of a Lake Placid store, as well as one in Queensbury that has been discussed.
He also said there is a chance that, once the company is stabilized, he will look at the possibility of reopening some of the stores that have been shuttered to pay off debt.
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Restructuring
In addition to installing a new chief operating officer, other changes are under way.
The day after the announcement that Becker would be put in charge, former Hacketts CEO Norman Garrelts resigned, Becker said.
Also, Juliann Hackett Cliff and Patrick Hackett, Jr., were both recently ousted from their vice president positions, Becker said.
"I don't think a company this small needs a whole slew of vice presidents," Becker said.
Hackett Cliff and Hackett would take on a role that will focus more on the actual operations of the stores.
"All the corporate things fall on my shoulders," said Becker.
If, that is, they decide to stay. Becker said it remained to be seen whether or not the Hackett siblings would want to be a part of the changes in the company.
Becker said he plans to start an online store that would sell some of the Hacketts merchandise, and that he planned to do it within weeks.
"It has to be weeks, we can't be pushing things off to months anymore," Becker said.
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Contact Jessica Collier at 891-2600 ext. 25 or jcollier@adirondackdailyenterprise.com.
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Truthbetold
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07-03-09 8:28 AM
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Here's wishing Hacketts all success and hoping that your plans to open a store in Lake Placid come to fruition. We need you. The North COuntry needs you. I support small, privately-owned local/regional businesses and know that the merchandise you carry will fill a gap in what is available in Lake Placid now.
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