The announcement yesterday really has me questioning the ability of management. Basing all forecasts on a prediction of a price rise that is not secured is poor financial practice.
It also raises questions on the ability of the Board. How can the Board accept a plan based on "yeah we think we'll get some extra money out of Tiffany so let's base everything on that hunch"? The Board has an obligation to assess risk and scrutinise financials. Their risk tolerance is now clear.
And let's not forget this disaster follows the botched capital raising.
The bottom line is that the bad pricing prediction means the earlier forecasts were fantasy. Sadly a lot of us got burned big time for that bit of fantasy.
Time for those in charge to spend the next 12 months focusing on fundamentals and restore some confidence and trust.
The announcement yesterday really has me questioning the ability...
-
- There are more pages in this discussion • 3 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)