Ann: Extension of Voluntary Suspension and Class Action, page-25

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Nightmarez3k

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22/11/18

09:58

Post #: 36597935
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Originally posted by sabine ↑

Oscar I am anything but amused by this debacle and relate to the fury of the institutions but ..honestly who is going to replace senior management?
If workers have indeed not been not paid up at the farms, and Haughton closed,, and if workers - as per this report - are backpackers, maybe the way is open for them to now move into senior management positions?
https://www.abc.net.au/news/2018-09-26/queensland-solar-farms-employing-backpacker-labour/10302500
This is a joke.
Good key management people are already in work with companies desperate to keep them as far as I can see.
And who wants to take on such a mess anyway?
Sadly I don’t think there is anyone out there waiting to move into this orphaned company but vultures.
I don’t think the government will bail us out
I don’t think Dr Dagleish will return to save us.

York Civil was in negotiation with two companies regards a sale in August before it went into liquidation.
And I imagine there was some ‘heart’ at that business with it’s character and history - ie people were desperate to save it?
But the potential buyers decided not to proceed .

I was at an AGM yesterday for a sector company and afterwards asked the MD about RCR.
The response was a compassionate head shake .

Sacking a board is no good unless you have people to replace it.
And we don’t just need people here, we need powerful experienced leaders who know the industry inside out, who are prepared to be ruthless with dead wood, who can inspire horrified customers, take on the opposition and beat it, and are still prepared to face up to the fact it might be too little too late abd they might be out of work inside a year.

I am still hoping for a miracle too Oscar.
But I am also trying to be realistic .

Cheers and good luck to us .

Expand

Anyone who buys RCR would be from administrators.

That way they can cherry pick the best parts of the business.

I.e. rail excluding solar given the mess.

But it really depends what parts of the business are still good.

The bad parts will drain cash which no one wants.

RCR Price at posting: 87.0¢ Sentiment: None Disclosure: Not Held
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