Buying SGH, page-409

Samng, it's a good point that you make and very likely HaveACrack will agree with you. So, in exercising the same though processes:
1. Having a background in law or management does not necessarily make for a good CEO.
2. Having a CFO's background does not necessarily make for a good Chair.
3. Having just lost >$1.3 Billion in acquisition value, >$2.5 billion in market capital, >$500 million in primary banking funds does not necessarily make for a good business.
4. Failing to capitalise upon one's acquisitions and integrate them into or under a single, unified umbrella does not necessarily make for good business execution or achievement of business acquisition synergies.
5. Having core business issues which seemingly have not yet been repaired does not necessarily make for a successful business future.
6. Having no-one in place to make, or take, the hard decisions and to cut out the overladen OPEX does not necessarily make for a good PIP program. A bit like taking a bandaid to the wound when a tourniquet is called for.
7. Having the barbarians not only at the gate, but inside the walls, up the stairs and entering into the rooms does not necessarily make for a rosy future.
8. Taking on and /or putting in place serious management and turnaround specialists may very well make for a future recovery but not with a recalcitrant board and senior management regime still in place.

So, just exactly what is it with everyone thinking that Skippen and Grech are the chosen ones to lead SGH back to recovery unless of course it has something to do with that old nursery rhyme - The Grand Old Duke of York.

To get SGH going again, start first with excising from the equation those who caused the mayhem in the first place. Then, you might have something going for SGH. But unless or until this happens, SGH will continue to be hobbled by the sins of the father. After all, just what have either Grech or Skippen shown, done or demonstrated to earn back the trust of their shareholders (ie: the ones who now hold precariously to their stock and the ones who previously trusted but then lost heavily)? More likely (and this is unfortunate), they will have to be blasted out of their boardroom chairs.

So, if you want a stable, recovering company, start first with swapping out the board, senior management and other areas /lines of management, start integrating the operations and stop wasting resources. So, isn't it just about time that almost 3 years after being acquired, that Nowicki should now be a fully integrated part of SGH rather than having its own duplicated systems in place, its own management structure, its own HR and its own advertising, and that's just for starters. And much the same thing as this goes for Trilby Misso some 7+ years later. And there are other examples of this.