How Many Shareholders....?, page-12

i wouldn't have said they were crooks. why pay more for something than you have to. unless theres some behind closed doors relationship between next executive team and our chairman I suspect this is a simple case of incompetent management not caring about shareholder funds with an asleep at the wheel risk team being caught in the cross wires of the collections department of the major banks. when a debt goes into default such as this one the banks put it in the hands of their internal debt collectors who if you've ever had to deal with are gutter rats. apart from potential insider issues - no doubt next senior management and our chairman operate in the same circles - I see this as bad investing on my part. saying that I see on next's website they like to keep management in place where they can to ensure smooth runway back to profitability so this process appears in keeping with their strategy. they might even say 70c is a gift.
in addition to overlooking some pretty major issues which i can see in hindsight, I was partly fooled by the whole B-Corp message which simply appears to be a marketing tool indicating the business is ethical which has clearly shown not to be the case. lots of lessons here. re the gogetta dividend - its called contingent for a very good reason. for me I have noted down names of senior mgmt and the board and will ensure I avoid them in future investments. they are incompetent or don't care enough about shareholder funds. both as bad as each other. all IMO and GLTAH. taking this dog off my watch list.