Harbor Freight Tools CEO Accused Of “Looting” Company, DIY Mechanics Fear For Supply Of Cheap Tools

Harbor Freight Tools CEO Accused Of “Looting” Company, DIY Mechanics Fear For Supply Of Cheap Tools

Harbor Freight Tools is the go-to shop for auto enthusiasts that like to work on cars. With literally every tool under the sun available for “ridiculously low prices”, Harbor Freight has become a household name among people who still like to turn a wrench on their own cars.

The family-owned, father-son partnership than ran the company was also something that likely resonated with the shop’s target demographic, but lately it seems that things have been going south.

Morale is low among employees, and now, the founders of the company have accused their own son, the CEO of the company of “looting” from Harbor Freight’s cash reserves.

Things have gotten so bad that employees have established a page on JobVent.com and a Facebook Fan Page dedicated to how much the company sucks. An ominous comment posted on JobVent stated that

“I can personally attest to as why HFT has so many negative vents on here! It has become an awful place to work. Eric is no longer interested in selling quality tools. He’s into selling junk, membership cards and coupons. $29.99 to get more coupons for crap that isn’t in stock? No Thanx!”

It looks like Eric Smidt (the “Eric” in question in the above remark) has had his comeuppance, after his parents filed a lawsuit, complete with the “looting” accusation. Apparently, the younger Smidt bought a $20 million New York penthouse and a $100 million painting, among other frivolous expenditures. Eric also amassed $500 million in debt that the company is liable for, and spent it on multi-million dollar homes.

The family feud behind the Harbor Freight case makes it especially unpalatable to most decent people. The company employs about 7,400 people nationwide as well, meaning that if the company went under, a lot of people would be put out of work. We’ll keep following the case to ensure that your supply of cheap, Chinese made tools stays safe.

[Source: Ventura County Star]

  • Bubba Knightfield

    Morale? Is this Vietnam?! If you don’t like your job quit it. Who cares about Harbor Freight’s moral? I love getting cheap tools for cheap prices. Snap On sells the same Chinese tools. Why pay more? By the way this article sucks and their writers are sub par. Nice blog losers!!!!!!!!!! You guys suck!!!!!!!!!!

  • Bob

    Yep, Bubba sounds like your typical Harbor Freight shopper! I’d bet his IQ is about the same as a claw hammer.

  • Tom Smith

    One painting for $100 mil? WOW!!! no wonder the empoyees are upset! Wonder how the vendors feel?

  • Chris

    I myself work for Harbor Freight. Morale is not low because of the recent scandal. If you do not like working there , quit. Don,t dog the company because you have no salesmanship. What happened you can’t sell an ESP or ITC. You schmuck.

  • Jondoe

    wow $120 plus million spent on houses and a painting! NO WONDER MY HOURS GOT CUT AND I LOST MY BENEFITS!!!!!!!! If this business goes under i lose my house and car. plus my family goes through hell. i hope he reads this and realizes what he is doing to him employees who have been nothing but great to him and the company.

    a manager from HFT

  • free at last

    customers should care about the morale of the employees because they are the first to complain when its obvious the employees dont want to be there but have no choice because their employer is no better than walmart where a living wage is not earned and therefore your stuck in a job you hate surrounded by demanding customers that could give a shit about your ability to pay your rent. just beware of going to work for this company. i did it for 3 years and am sooo thankful i dont have to go there every morning and deal with the bullshit.