Good evening Parsifal,
I hope (if not blocked) you enjoy my new posting format.....I now have the dog to write it. Many have criticised my style of communicating, so i thought i would now answer the statements posed by posters that interest and/or irritate me.
"We were conditioned last year to expect constant good news. If people got one thing out of last December results and the difference between the Petra report and the first Moelis report it should have been that the bulk of those announcements were most probably pumping."
If everyone can remember, last year was the year of the posters pump, and i'm not quite sure who led the pumping but i am sure it will come to me.
"In fact I'd guess (but will check) that over time the power of announcements reduced because there was increasingly a gap in what was announced and what showed up in reality. So it seems to me that at the heart of the problem is one of trust."
No need to check, as i am sure the power of the announcements on HC reduced because posters started to question the continual pumping by certain posters. Again, i am not quite sure who led the pumping, but i'm sure it will come to me.
"In my view the business is just fine and I'm expecting that we will be seeing a much cleaner ship - and I'm expecting a review of pretty much everything - for the better. Just because Dirk isn't pumping out news doesn't mean he isn't working his butt off or that the sales team isn't selling things, or Bob isn't cooking up a storm."
I for one am glad the view of the business has diverted toward the company rather than the individuals whereby some, one could say almost idolised previous management and their direction. Again, i am not quite sure who led the this direction, but i'm sure it will come to me.
"It just seems to me that the despair we are seeing is pretty much the precise condition that feeds a venture capitalist mindset and the type of comms we saw last year. Wanting more announcements seems to me to be like an addiction though. You know - short term high followed by disappointment as reality returns."
Again, we are seeing the preaching that comes from the periods of yesteryear grandeur when only the sky could be seen.
Someone used to preach that sermon. Again, i am not quite sure who led the this direction, but i'm sure it will come to me.
"The last thing we need is a return to old habits. The last thing we need is to encourage Gavin to interfere in the management of the business and the communications."
Some may say that perhaps the old habits were caused by individuals pumping the Company and/or management in the past.Again, i am not quite sure who led the this direction, but i'm sure it will come to me.
"Yet every gripe and groan is less likely to give us the stability we need right now."
Every gripe and groan is EXACTLY what we need right now. Management need to know that they cannot depend on the pumping on HC to save the SP. If you pump a tyre up to high, sooner or later it will pop.
"I know a good few people have sold out - they've had enough. The sentiment is pretty overt. And that is ideal conditions for anyone who has the power to stoke emotion. It's easy to forget that every share sold is bought by someone."
If the situation had not been coaxed, promoted, fuelled and pumped, peoples expectations would not have been raised to a level whereby the slighted hiccup causes them to sell. Perhaps the SP would not have risen to the ridiculous levels it reached in past times.
"I just wish it hadn't hit at the very time when we had a change of guard. I don't want it to get in the way of the new leadership. I don't want us to be nostalgic for something that was not all it appeared. I don't want Dirk to have to battle with the board over the share price when it is not actually the result of his leadership."
IMO the reason for the concern was not caused by a change of guard but BECAUSE of the change of guard, caused primarily by the pumping, idolisation and the management can do no wrong. It has become too late to be nostalgic but time for the new, Dirk to show his leadership and steer the board onto bigger and greater results.
"In fact just in case someone from the Board is reading I'm going to refer to Gavin's diatribe at the AGM in which he advises shareholders that management don't have control over share prices - which he says simply reflect market demand at a particular point in time not the growth or sustainability of the business."
I personally hope no-one from the board is reading the level of posting. Under no circumstances do i want the Board and/or management to be exposed to this forum, as i would assume they have greater and more important things to do. Their responsibility is to the shareholders and the profitability of the company. Focus on these items and the SP will follow.
"Now while I might disagree with him on some points and on the implications, it's his words and so I hope he takes his own advice and leaves Dirk to get on with building the business, creating stability and cleaning up whatever needs to be cleaned up."
After all the tirades, some have experienced due to their views regarding prior management and business practises, i am surprised there are any issues with stability, and cleaning up of whatever needs to be cleaned up.
"And I'm going to okay in the garden rather than spend my time peering at the price. When the spring comes and my vegetables grow well might just be when Alexium gets going as well."
I wish you well and every success in the management of your garden. I am sure we will see you before then and i am damned if i can remember who!
Cheers,
G2
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