| Topic Name: |
Privatization? |
| Message Name: |
Change of heart?! |
| Date Posted: |
03/22/2006 |
| In Reply To: |
makes alot of sense ..you only really need to go public when you want to raise funds from the market ... we tried that and ended up using the money to fund operations rather than devlop growth opportunities- this was clearly the wrong answer (but made many KPMG partners wealthy at the time).
Going private would allow us to:
- stop the focus purely on qtr sales targets to please shareholders
- lower compliance costs and associated reporting complexity
- distribute retained earnings back to our people as oppossed to shareholders
All sounds great BUT going private won't fix the fact that:
1. Our reputation is hurting
2. Our people are hurting
3. We are poor business operators
4. We are poor at looking after our people
5. Our leadership team is somewhat weak
6. Our strategy is unclear
7 > etc etc
Wrapping a turd in a new legal structure/entity may look good for a short time - but will eventually smell real bad down the track if not addressed (or dare I say flushed)
Its a tough problem to solve and I don't believe our EVP team is working hard enough to get it back on-track for the longer term .. many MD's know this and are bailing out as their comp. package (announced at last MD conf.) is incented based on longer term company performance - many MD's don't believe in it and are voting with their feet - others don't know how to fix it so are getting out before somebody asks them to help ;)
In the meantime we keep hiring very Snr folks - perhaps they are cooking something up to relieve the leadership paralysis and move us forward - SHOW ME THE STRATEGY AND ROADMAP YOU OVERPAID KLINGONS
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| Message: |
Wow, I thought you loved BE and thought everything was on the up up up!
I guess the rose colored glases became beer goggles and you're now sobering up.
The one thing you forgot to mention about going back to private is that all the MD's could have their little fifedomes back. They can also cook the books easier.
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