The news today, that Bloomfield-based Grote & Weigel has been saved, just days before it was scheduled to close, was greeted favorably by hot dog enthusiasts across Connecticut. Rachael’s Food Corp. of Chicopee, Mass. has purchased the company’s assets from TD Bank. Grote & Weigel, 122 years old, was scheduled to close this week, with its assets slated for auction next week. Now the company will stay put and reopen March 5. What makes the story even more delicious is that Rachael’s Food is family owned.
Think about it. Grote & Weigel was on the verge of closing its doors. There was no government bailout. No Dannel ’88 to ride to the rescue with a “First Five Initiative.” Jobs were going to be lost. And yet, without government intervention, in fact, because the government did not intervene, Grote & Weigel survived. The free market system prevailed. Plus, as we were led to believe, it took just a few short days to cut the deal. Imagine how long it would have taken had the government stepped in.
No government bailouts! No “First Five Initiative!” And yet, when the free market system was allowed to work, Grote & Weigel remained in business and jobs were saved. I don’t know what’s more exciting, the fact that a legendary company has survived, or that no politician will be standing at a news conference claiming credit for its survival. There’s not enough mustard in the world to cover this story’s positive outcome.