From everything we were hearing I thought Morgan was more profitable than ever, so I am not sure why this was the time to stop being a family owned business. Possibly the family was simply tired of dealing with the company and wanted to cash out while things were high.
I will say as a fan of Morgan that it saddens me as it was one thing that made Morgan extra special and had kept it relatively old fashioned in its looks and business (both things people went to Morgan for). With a larger shareholding there is nothing to stop these investors from dragging this company to the ground by trying to modernize things. I would have much rather seen the company turn to an employee owned model where employees only could own and buy stocks.
If the new Plus 6 is a indication for the future of Morgan, I do worry about the future.
