Industry experience equates to profitability!
I take it that Penn is an Accountant?
I remember when Mayne Nickless decided to invest heavily in the transport (now called Logistics) industry with no experience on how to run them.
Their business plan was to get rid of the experienced people (usually former owner operators) and place accountants in the companies they took over to run them!
They managed to run up huge losses in those companies and were then sold off to Toll Logistics for peanuts!
Having first hand knowledge of this fiasco you could not believe how naïve those accountants were, so no wonder they failed.
Take what you like from this post, but when your CEO takes over the reigns and manages to halve your share price in his tenure to date then maybe he is in the wrong job?
Industry experience equates to profitability! I take it that...
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