What is it worth?, page-95

@qqqqqqqqq - seriously? So clearly you can use Google and you can cut and paste. But how about you actually understand what you read, and understand how things work in the real world?

When a management team has been changed over in difficult circumstances you almost NEVER see the new management praising the old management. They ALWAYS blame the old management. They write off things, make extra provisions, etc. It makes the new CEO's first year look good.

Domenic got dumped in April 2008. It didn't fall over until November 2008. Who is to say a large media company controlling a smaller entrepreneurial company didn't cause it to happen??

The blaming old management is a practice that has been around for a long, long time. It even has a name - "Big Bath".

Very simple version is here: http://www.investopedia.com/terms/b/bigbath.asp

If you want a more in-depth look at it have a look at: http://www.business.uwa.edu.au/__da...over-and-Big-Bath-1-5implications-change-.pdf

Regards
Marv

DISCLOSURE: I hold plenty of CM8