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KENOL KOBIL .... 2012
Rank: Elder Joined: 7/11/2010 Posts: 5,040
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VituVingiSana wrote:Jamani wrote:@Mlennyma Walishatiwa baridii by signing a petition in support of the sale. IMHO, any employee who is opposed to the sale at a fair price should be fired. They work there, get a salary and should be thankful to the shareholders who provide the means/capital to finance the business. When Uchumi collapsed, was it shareholders who pumped in majority of cash to revive it or was it the employees? When the price of Safaricom fell to 3.50, did the employees take a paycut of 30%? When KQ is falling, did the employees take a paycut to prop up the airline? NO, instead the management took bonuses, the staff got huge payrises & benefits via atwoli and the shareholders suffered. exactly, if only they could get this through their heads The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Chief Joined: 1/3/2007 Posts: 18,361 Location: Nairobi
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@Aguytrying - If they don't want to work at KK, then quit. There are thousands of firms in Kenya. Go find another job. Even better, start your own firm then pay your employees well. When you sell the firm, pay them a bonus. In the meantime, QUIT working for KK & go elsewhere! Furthermore, they have earned a salary all these years. Not at a discount but at competitive rates! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Chief Joined: 1/3/2007 Posts: 18,361 Location: Nairobi
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Those KK assets (land & buildings) looking very juicy to me! http://www.businessdaily.../-/4obncdz/-/index.html
So if Puma backs out. No problem. The cash is still somewhere...! I am sure selling off some stations to developers (or developing Real Estate by KK) might be better than running the stations as petrol stations! Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 2/8/2007 Posts: 808
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From what I am seeing here, we need to start teaching financial and organization education in primary school as a core subject. On one hand staff are scared shitless for their jobs without knowing that essentially the organization is not shutting or scaling down operations. On the other hand, the actions are becoming very disruptive to the interests of their shareholders and the nuisance value of these actions is nevertheless very discounted. However the ramifications of this could be very painful to staff again it appears they don't seem to appreciate that.
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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Jamani wrote:Agreed VVS, but looking at the statement by 2012, it was vital to remind him that there are CEOs directors and majority owners of businesses who also run down their businesses. You misunderstood my statement. I meant me, myself, personally, I have never and will never invest in a company where the person/people in charge has/have no interest in. That's my principle in investing and it has always worked for me, I'm not trying to impose it on anyone. If I told you I'm starting a butchery and I want you and others but myself to fund it would you? BBI will solve it :)
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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2012 wrote:Jamani wrote:Agreed VVS, but looking at the statement by 2012, it was vital to remind him that there are CEOs directors and majority owners of businesses who also run down their businesses. You misunderstood my statement. I meant me, myself, personally, I have never and will never invest in a company where the person/people in charge has/have no interest in. That's my principle in investing and it has always worked for me, I'm not trying to impose it on anyone. If I told you I'm starting a butchery and I want you and others but myself to fund it would you? Then I understood you correctly i never said you imposed, just meant to say that not all companies that have people in charge owning them are all run with the interests of minority shareholders at heart, and you may see as VVS listed some names above. I am happy for you that it has worked out to your benefit, in my case the same investment strategy has had my fingers and toes burnt... AK And i not saying its a poor strategy, i know it has worked elsewhere even for me... but you must look at the history of the owners or rather vet them before you invest your money
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Rank: Elder Joined: 12/9/2009 Posts: 6,592 Location: Nairobi
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Jamani wrote:[quote=2012][quote=Jamani] I am happy for you that it has worked out to your benefit, in my case the same investment strategy has had my fingers and toes burnt... AK Pole bwana. I also invested in AK, I made good money and sold. This kind of stocks are a gamble though because it is so dependent on very erratic technology change and the wrong strategy no matter how well intended could sink you. That said I salute the Somen's for going against the board and investing in fibre, AK would be dead now if they hadn't. BBI will solve it :)
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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2012 wrote:Jamani wrote:[quote=2012][quote=Jamani] I am happy for you that it has worked out to your benefit, in my case the same investment strategy has had my fingers and toes burnt... AK Pole bwana. I also invested in AK, I made good money and sold. This kind of stocks are a gamble though because it is so dependent on very erratic technology change and the wrong strategy no matter how well intended could sink you. That said I salute the Somen's for going against the board and investing in fibre, AK would be dead now if they hadn't. Nime poa, with +1m under the bridge(considering all my investments in it as lost)... or rather am locked in
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Rank: Elder Joined: 9/12/2006 Posts: 1,554
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Kausha wrote:From what I am seeing here, we need to start teaching financial and organization education in primary school as a core subject. On one hand staff are scared shitless for their jobs without knowing that essentially the organization is not shutting or scaling down operations. On the other hand, the actions are becoming very disruptive to the interests of their shareholders and the nuisance value of these actions is nevertheless very discounted. However the ramifications of this could be very painful to staff again it appears they don't seem to appreciate that. Staff could be scared that they will be outsourced.... like Airtel did to its staff, moving them to NSN and Spanco with pay cuts.. bila marupurupu.... They are acting in fear which is human and i empathize with them... but they may only achieve to waste time, everything will move as planned read the KQ case.
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Rank: Chief Joined: 1/3/2007 Posts: 18,361 Location: Nairobi
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Jamani wrote:2012 wrote:Jamani wrote:Agreed VVS, but looking at the statement by 2012, it was vital to remind him that there are CEOs directors and majority owners of businesses who also run down their businesses. You misunderstood my statement. I meant me, myself, personally, I have never and will never invest in a company where the person/people in charge has/have no interest in. That's my principle in investing and it has always worked for me, I'm not trying to impose it on anyone. If I told you I'm starting a butchery and I want you and others but myself to fund it would you? Then I understood you correctly i never said you imposed, just meant to say that not all companies that have people in charge owning them are all run with the interests of minority shareholders at heart, and you may see as VVS listed some names above. I am happy for you that it has worked out to your benefit, in my case the same investment strategy has had my fingers and toes burnt... AK And i not saying its a poor strategy, i know it has worked elsewhere even for me... but you must look at the history of the owners or rather vet them before you invest your money Those are critical points. See merali. Or even kirubi. Look at the history. Then walk away. Now compare these to Aga Khan firms where AKFED's representatives (not as management but as independent directors) are managing the firms for their spiritual leader & community. Compare the growth of DTBK, Jubilee, TPSEA & Nation. They have managed through good & bad times. Jubilee is #1 insurer, Nation is #1 newspaper, TPSEA is probably #1 or #2 in EAC. DTBK is a top Tier 2 bank & with the best geographical spread in KE, TZ, UG & BU. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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