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Uchumi - A value play?
Rank: Elder Joined: 7/11/2010 Posts: 5,040
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maka wrote:VituVingiSana wrote:mlennyma wrote:And this banks really know where to fish,but my surprise is how wazuans here are able to see ceo's running down companies earlier than the boards. Wazuans are consumers of the products & services. When we see dirty supermarkets without products... we know other customers do too... and shop at Nakumatt or Tuskys. When we experience petrol stock-outs at KK or Total... we know other customers do too... and fuel at Shell. When we experience flight delays on KQ... we know other customers do too... and fly with 540 or Ethiopian. So true... so so true. And in uchumi's case we couldn't give management the benefit of doubt. we just doubted The investor's chief problem - and even his worst enemy - is likely to be himself
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Rank: Member Joined: 2/18/2011 Posts: 448
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Aguytrying wrote:maka wrote:VituVingiSana wrote:mlennyma wrote:And this banks really know where to fish,but my surprise is how wazuans here are able to see ceo's running down companies earlier than the boards. Wazuans are consumers of the products & services. When we see dirty supermarkets without products... we know other customers do too... and shop at Nakumatt or Tuskys. When we experience petrol stock-outs at KK or Total... we know other customers do too... and fuel at Shell. When we experience flight delays on KQ... we know other customers do too... and fly with 540 or Ethiopian. So true... so so true. And in uchumi's case we couldn't give management the benefit of doubt. we just doubted @VVS umenena. If one cannot buy a mere newspaper at Uchumi then what should you expect of other things. Is uchumi still the largest mpesa dealer?
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Rank: Elder Joined: 2/16/2007 Posts: 2,114
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mibbz wrote:Aguytrying wrote:maka wrote:VituVingiSana wrote:mlennyma wrote:And this banks really know where to fish,but my surprise is how wazuans here are able to see ceo's running down companies earlier than the boards. Wazuans are consumers of the products & services. When we see dirty supermarkets without products... we know other customers do too... and shop at Nakumatt or Tuskys. When we experience petrol stock-outs at KK or Total... we know other customers do too... and fuel at Shell. When we experience flight delays on KQ... we know other customers do too... and fly with 540 or Ethiopian. So true... so so true. And in uchumi's case we couldn't give management the benefit of doubt. we just doubted @VVS umenena. If one cannot buy a mere newspaper at Uchumi then what should you expect of other things. Is uchumi still the largest mpesa dealer? And I suppose this is a good case of fundamental analysis..
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Rank: Elder Joined: 6/23/2009 Posts: 14,213 Location: nairobi
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Chaka wrote:mibbz wrote:Aguytrying wrote:maka wrote:VituVingiSana wrote:mlennyma wrote:And this banks really know where to fish,but my surprise is how wazuans here are able to see ceo's running down companies earlier than the boards. Wazuans are consumers of the products & services. When we see dirty supermarkets without products... we know other customers do too... and shop at Nakumatt or Tuskys. When we experience petrol stock-outs at KK or Total... we know other customers do too... and fuel at Shell. When we experience flight delays on KQ... we know other customers do too... and fly with 540 or Ethiopian. So true... so so true. And in uchumi's case we couldn't give management the benefit of doubt. we just doubted @VVS umenena. If one cannot buy a mere newspaper at Uchumi then what should you expect of other things. Is uchumi still the largest mpesa dealer? And I suppose this is a good case of fundamental analysis.. KQs flight delays are not directly attributable to the CEO or board of that firm. Immoral staff can sabotage even the best of companies, including Safaricom which recently had to release Peter Arina and Pauline Warui.. Safaricom!
KQ ABP 4.26
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Rank: Elder Joined: 5/27/2008 Posts: 3,760
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@obiero, I think that's a sad statement you've made. Immoral staff are immoral because they know they can be so and get away with it. If there's a CEO who can't condone staff immorality and comes down on the affected staff like a ton of bricks, then the staff watanyoroka haraka sana.
To be fair to Ngunze, I suspect the union and pilots association are so entrenched that staff can do whatever and get away with it - ditto Kenya Ports, Teachers. So how do you fix it? The politicians can, but they are feeding on lease payments from the SPVs so wouldn't upset the gravy train.
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Rank: Elder Joined: 6/23/2009 Posts: 14,213 Location: nairobi
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Gordon Gekko wrote:@obiero, I think that's a sad statement you've made. Immoral staff are immoral because they know they can be so and get away with it. If there's a CEO who can't condone staff immorality and comes down on the affected staff like a ton of bricks, then the staff watanyoroka haraka sana.
To be fair to Ngunze, I suspect the union and pilots association are so entrenched that staff can do whatever and get away with it - ditto Kenya Ports, Teachers. So how do you fix it? The politicians can, but they are feeding on lease payments from the SPVs so wouldn't upset the gravy train. U seem to understand the issue perfectly. Naikuni sacked the known immoral lazy buggers but they came back and rumor says they even visited his office to tell him they will never be fired! Government jobs or gava linked firms struggle wit this issue alot, ua junior can give u orders! Mtoto wa so and so.. A CFO with a salary of 85k and KES 200million in the bank! Strange things..
KQ ABP 4.26
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Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
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obiero wrote:Chaka wrote:mibbz wrote:Aguytrying wrote:maka wrote:VituVingiSana wrote:mlennyma wrote:And this banks really know where to fish,but my surprise is how wazuans here are able to see ceo's running down companies earlier than the boards. Wazuans are consumers of the products & services. When we see dirty supermarkets without products... we know other customers do too... and shop at Nakumatt or Tuskys. When we experience petrol stock-outs at KK or Total... we know other customers do too... and fuel at Shell. When we experience flight delays on KQ... we know other customers do too... and fly with 540 or Ethiopian. So true... so so true. And in uchumi's case we couldn't give management the benefit of doubt. we just doubted @VVS umenena. If one cannot buy a mere newspaper at Uchumi then what should you expect of other things. Is uchumi still the largest mpesa dealer? And I suppose this is a good case of fundamental analysis.. KQs flight delays are not directly attributable to the CEO or board of that firm. Immoral staff can sabotage even the best of companies, including Safaricom which recently had to release Peter Arina and Pauline Warui.. Safaricom! Safaricom fired Arina & Warui. Who has KQ fired? 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: 18,346 Location: Nairobi
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obiero wrote:Gordon Gekko wrote:@obiero, I think that's a sad statement you've made. Immoral staff are immoral because they know they can be so and get away with it. If there's a CEO who can't condone staff immorality and comes down on the affected staff like a ton of bricks, then the staff watanyoroka haraka sana.
To be fair to Ngunze, I suspect the union and pilots association are so entrenched that staff can do whatever and get away with it - ditto Kenya Ports, Teachers. So how do you fix it? The politicians can, but they are feeding on lease payments from the SPVs so wouldn't upset the gravy train. U seem to understand the issue perfectly. Naikuni sacked the known immoral lazy buggers but they came back and rumor says they even visited his office to tell him they will never be fired! Government jobs or gava linked firms struggle wit this issue alot, ua junior can give u orders! Mtoto wa so and so.. A CFO with a salary of 85k and KES 200million in the bank! Strange things.. Which is why it makes sense to avoid such firms if you cannot trust the Board or Management. Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Elder Joined: 6/23/2009 Posts: 14,213 Location: nairobi
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VituVingiSana wrote:obiero wrote:Gordon Gekko wrote:@obiero, I think that's a sad statement you've made. Immoral staff are immoral because they know they can be so and get away with it. If there's a CEO who can't condone staff immorality and comes down on the affected staff like a ton of bricks, then the staff watanyoroka haraka sana.
To be fair to Ngunze, I suspect the union and pilots association are so entrenched that staff can do whatever and get away with it - ditto Kenya Ports, Teachers. So how do you fix it? The politicians can, but they are feeding on lease payments from the SPVs so wouldn't upset the gravy train. U seem to understand the issue perfectly. Naikuni sacked the known immoral lazy buggers but they came back and rumor says they even visited his office to tell him they will never be fired! Government jobs or gava linked firms struggle wit this issue alot, ua junior can give u orders! Mtoto wa so and so.. A CFO with a salary of 85k and KES 200million in the bank! Strange things.. Which is why it makes sense to avoid such firms if you cannot trust the Board or Management. Its unavoidable in Kenya. The NSE is awash with government linked firms.. Almost 30% if I can hazard a guess
KQ ABP 4.26
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Rank: Chief Joined: 1/3/2007 Posts: 18,346 Location: Nairobi
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obiero wrote:VituVingiSana wrote:obiero wrote:Gordon Gekko wrote:@obiero, I think that's a sad statement you've made. Immoral staff are immoral because they know they can be so and get away with it. If there's a CEO who can't condone staff immorality and comes down on the affected staff like a ton of bricks, then the staff watanyoroka haraka sana.
To be fair to Ngunze, I suspect the union and pilots association are so entrenched that staff can do whatever and get away with it - ditto Kenya Ports, Teachers. So how do you fix it? The politicians can, but they are feeding on lease payments from the SPVs so wouldn't upset the gravy train. U seem to understand the issue perfectly. Naikuni sacked the known immoral lazy buggers but they came back and rumor says they even visited his office to tell him they will never be fired! Government jobs or gava linked firms struggle wit this issue alot, ua junior can give u orders! Mtoto wa so and so.. A CFO with a salary of 85k and KES 200million in the bank! Strange things.. Which is why it makes sense to avoid such firms if you cannot trust the Board or Management. Its unavoidable in Kenya. The NSE is awash with government linked firms.. Almost 30% if I can hazard a guess Which means there are 70% that are not GoK linked so how is avoiding GoK-linked firms unavoidable? Here are a few good firms [I am discussing the firms not the share price or outlook] with zero or insignificant government links. BAT EABL BBK SCBK Williamson Kapchorua Kakuzi Equity I&M NIC DTB Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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