They were a bit unlucky as the acquisitions they made were at the top of the market and no one knew what was around the corner.
Elite Built was bought just prior to Peter Farmakis taking over from the outgoing CEO Brent Fuller so he cannot be blamed for that. They have lost some good people like Tim Threlfall who did an amazing job when the private owner of Elite Built and they still have some tired arrogant out of touch dead wood still floating around.
However there were some very poor decisions made. I think seeing they contributed to the mess Dexion has got itself into they would probably be best equipped to guide them out.
Changing Captains on a sinking ship will not help. I still believe the business has good potential but a massive amount of things would have to change and you can’t just turn something as big as Dexion around quickly; just like you couldn’t turn the Titanic around quickly. It will take time it’s whether the share holders have the patience.
DEX Price at posting:
29.0¢ Sentiment: Sell Disclosure: Not Held
