NavyGulf we need to be patient and place some confidence in the future. At least the Directors took positive action with CL as we no longer have him in our midst to put such misleading spin on everything. Hopefully we will now get the truth. I thought politicians were bad but this bloke takes first prize by a long way.
NMS is certainly disappointing but not everything with NMS is bad. All of the aquisitions were profitable ongoing businesses with strong histories, they can't all have gone bad. When the original owner was in control everything looked good and it probably would have stayed that way if they hadn't taken on such an aggressive takeover program.
In my experience the proof of whether or not an acquisition was a good decision is totally dependent on how successful management is when integrating the acquired business with the base business. It is a test of the CEO's skills and obviously CL just wasn't up to the task even though on the surface it initially looked OK, who knows the new CEO may be fantastic but only the future will tell.
Don't make any rash decisions and stay positive about the future.
NMS Price at posting:
8.4¢ Sentiment: None Disclosure: Held
