simon ehrenfeld delusional, page-57

othing like a good stouch between shareholders (owners) and directors (employees) to shine some light onto areas that boards believe to be for their eyes only.

The most notably consistent feature of Eftel management seems to be their reluctance, nay steadfast refusal, to disclose details to shareholders.
Like the CEO/Chairman’s performance bonus criteria, saying only that it was met ….. well hell, the criteria may well have been that EFT still be listed at the due date ….. as they say, “the devil is in the detail”

“Also, there was another asx announcement about the purchase of the Concept Group. That indicated there was some type of off-shoring arrangement. The annual report indicated there was around 6.8mill in employee expenses. If EFTel moved a ton of jobs off-shore, then, purely based on that, they could save millions” ……….Merlin_99

Can someone tell me what Eftel has paid & exactly what they have got (& inherited) from this deal? A worry is that the Malaysian Ringgit has appreciated significantly against A$ recently potentially negating a good % of any cost savings from off-shoring services to Malaysia.
Call me cynical, but this deal looks like it was done to bring a new friendly block of votes on board …. regardless of the economics.


“They conned some DSLAM provider to provide the finance for them” ….Germanicus

Déjà vu ??? ….. didn’t Datafast have a large debt to a US equipment supplier when they “became” Eftel?


Question to John Lane – EFTel Staff ……. Is it true that EFTel stands for Ehrenfeld Family TELecommunications ???

And

You say “Mr. Bretherton's proposal would actually insulate Mr. Ehrenfeld from shareholders...”, but doesn’t that presuppose that Simon Ehrenfeld would remain CEO even if he lost directorship. Seems to me that if the majority of shareholders vote to remove him as a director, it would be a clear indication to the remaining board members that he does not enjoy the confidence of the owners & would surely have to also be removed from the CEO position. Would this not be a fair assumption?

Sorry, but it would hardly be of comfort to shareholders to defend Simon Ehrenfeld’s performance by comparing it to other failures.
“The share price has been in decline in parallel with the share prices of all of EFTel's industry peers, and EFTel's has declined less than most.”
Shareholders buy a particular company with the expectation that it will provide them with a return on their investment, not the false comfort that it didn’t lose as much as others …… and, it should be remembered, it has done so during the greatest boom that Western Australian has ever seen. It is certainly not a pleasant thought of what lays ahead under darker economic skies !!