@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!

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.

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

Nime poa, with +1m under the bridge(considering all my investments in it as lost)... or rather am locked in

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.

And salvation draws nigh!

Half year results are out. 3.8bn net loss compared to 2.2bn net profit in 2011.
No interim dividend


COMMENTARY
The Group’s performance for the first six months of 2012 were affected by the depressed Global economic environment, falling International Oil prices and turbulent local conditions with high inflationary pressure, high borrowing costs and Foreign Exchange rate fluctuations seen across Kenya and all the Regional markets. The most significant impact was the losses from Foreign Exchange Hedges taken in the latter part of 2011 and the first two months of 2012.
The sharp falling International Oil prices since end of 2011, exacerbated by the accelerated downward price adjustments by regulators in the various countries wherein we operate had put the gross margins under pressure during the period under review, particularly in the First Quarter when high stock levels carrying high costs were being disposed of.
Sales volumes increased by 17%, with strong contribution from the Subsidiaries.
The Exports market and Subsidiaries had been faced with stiff competition from smaller Industry players undercutting prices.
Administration and operating overheads increased by 33%, mainly due to the high inflation across the region, increased operating expenses with the Tanzanian Terminal now fully operational, and increase in unrecoverable VAT.
The most significant impact on performance has been from Foreign Exchange losses of Ksh 4.2 billion during the period. This was due to the realized losses from the Foreign Exchange hedge positions taken during the latter part of 2011, of which Ksh 2.4 billion was provided for in the 2011 Balance sheet reserves, losses from 2012 Hedges as well as Net unrealized/realized losses.
The Exchange rates remain our biggest exposure and a key area of concern and focus. The Board reviewed its Hedging policies continuously during the period, closely monitoring performance, seeking the best policy to follow which will give better, manageable and flexible systems to Management Team.
Financing costs is a material cost item which increased by 253% during the period 2012 compared to the same period in 2011 due to, extremely high levels of bank interest rates and high levels of borrowings.
Borrowings increased by 40% as at the end of June 2012 compared to June 2011. This has been driven by increased working capital requirements, servicing of the realized loss from the Foreign Exchange Hedges and completion of Capital expenditure in the Region. Stock levels have been managed to lower levels. Account receivables include high volume sales invoiced in Commercial and Trading business segments within normal terms.
The change in Shareholders equity during the period decreased by Ksh 3.1 billion, with the major movements attributable to operational losses (Ksh 925 million) characterized mainly by negative margins and the inflationary environment; and net Foreign Exchange losses of Ksh 1.6 billion. Shareholders equity was also reduced with the payment of the final 2011 dividends of Ksh 633 million.
Following these debilitating challenges and adversities in the operating environment, the net result for the Group for the period under review, is a loss of Ksh 3.9 billion.
Excluding the Exchange losses, the EBITDA would have been Ksh 50 million profit and the net loss after Tax, Ksh 925 million.
Management continues to focus on reducing cost of Financing with substantial measures being undertaken to reduce cash and borrowings requirements with tighter Inventory Management and Business Process re-engineering to improve effectiveness and efficiencies in organizational structure and operations processes to reduce costs. Capital expenditure has also been postponed till cash flow improvements are generated.
Going forward, the Group is optimistic despite the tough economic cycle and with the ongoing potential deal between key Shareholders and Puma Energy, a strategic investor, Management foresees substantial benefits crystallizing upon closing of this deal, mainly in the area of inventories management, Forex Exchange Risk, cost of Financing and better sources of products for the whole Group.
DIVIDEND
The Directors do not recommend the payment of an interim dividend.
By Order of the Board
Jacob I Segman
Group Managing Director
07th September 2012

Phewks, its good i jumped out of this ship at 16/- with this news am sure it will hit 12/- or 10/- if the market is harsh on it

Those hedges really murdered KK! I would be surprised if they turn this into a FY profit