Management Buyout, This is an interesting concept.
Old Rotary owners - Gone !
Old D & E owners - Gone !
Old Watters Electrical owners - Gone !
Old CDC owners - 2/3 Gone !
Old Frigrite owners - Gone !
Heyday owner - Has bought and sold Heyday twice before.
Spectrum Fire & Security - Basket Case !
Where would you assume the money is coming from to buy these businesses back ?
With the old owners went the millions.
Why in god's name would management pour money into a bleeding endless pit of debt to continue to be run by bean counters and surrounded by corporate bullshit when if given the opportunity to buy back you would immediately exit Hastie and go back to private ownership.
Leightons or any other construction company for that matter cannot box themselves into a corner by locking in one set of subcontractors, this takes away their ability to play one subbie off against another to achieve the "lowest price".
PS - There is no marging in subcontracting when you need to make 15%, sorry make that 16% after last week to break even due to previous and current board members ridiculous aquisitions when they had no financial vested interest or share holding of any worthiness in the company.
Do you see any directors currently in the top 20 ?
Management Buyout, This is an interesting concept.Old Rotary...
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