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Legendary Corner: Who's Greater, James Mwangi or Michael Joseph?
muganda
#11 Posted : Tuesday, April 06, 2010 4:02:13 PM
Rank: Elder

Joined: 9/15/2006
Posts: 3,907
Laughing out loudly @gathinga, since Michael Joseph seems to have won that round, perhaps I can pick thoughts on how he compares to Titus Naikuni...

muganda wrote:
Okay other thoughts:
--And how does Titus Naikuni's work in tough airline industry compare to the two?

gathinga
#12 Posted : Wednesday, April 07, 2010 6:31:57 AM
Rank: Veteran

Joined: 11/30/2006
Posts: 635
@Magigi. Naikuni is a different ballgame. MJ and JM took over tiny companies then underdogs in their different industries and built them up to dominant market positions rapidly. While doing this, they introduced totally new concepts to their market segments; MJ liberalized the use of mobile phone by making it easier to own a line and selling airtime in small denominations not to forget per second billing. Al these were deemed impossible by then market leader KENCELL

JM banked on the poor who were believed to be of no economic value. He recognized that the poor will do small but many transactions many times over and therefore give you non funded income on a mass market scale. The poor also borrow in small amounts therefore the risk per borrower is minimal. Having no information on their rights, the poor are damn scared of defaulting, while the rich guy will hire high street lawyers to read through complex borrowing contracts and file unending injunctions in court. The concept of volumes of small denomination transactions was frowned upon then by market leaders BBK.

As for Naikuni, he took over an already large organization that was then a monopoly in domestic and regional routes. He squeezed efficiencies and sealed loop holes and the giant took off. He DID NOT introduce any revolutionary concepts. he had no competition to speak and still doesn't have except for the Nrb-lONDON route.

You will notice that efficiency squeeze has limits and KQ has surpassed that limit since 2007. Instead of relying on additional revenues to grow profits, Naikuni is now relying on gabbling (fuel hedging) which could go either way...as it did in 2008.

While recognizing the difficult and uncertain environment that KQ as an airline operates in, I note that in 2007, Naikuni made a bad call on these hedging contracts that has cost KQ shareholders billions in profits

Naikuni's handling of the Duala crash was an exemplary show on PR and brand management and I give that to him

In the end therefore, the parallel to MJ and JM does not exist
youcan'tstopusnow
#13 Posted : Sunday, April 11, 2010 4:27:42 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
guru267, I would love to hear your thoughts on this discussion. Currently MJ is winning.
GOD BLESS YOUR LIFE
Mkimwa
#14 Posted : Monday, April 12, 2010 11:21:21 AM
Rank: Member

Joined: 10/26/2008
Posts: 380
Based on amazing products that i use, MJ wins for Mpesa.
youcan'tstopusnow
#15 Posted : Wednesday, July 28, 2010 8:45:49 PM
Rank: Chief

Joined: 3/24/2010
Posts: 6,779
Location: Black Africa
With MJ going later this year, there will be no one to compare JM to.Sad You know what Nas says, "There's One Life, One Love, so there can only be One King"
GOD BLESS YOUR LIFE
obiero
#16 Posted : Wednesday, July 28, 2010 9:30:12 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,213
Location: nairobi
everything in Equity will look fine until the economy recesses. Thats when some will understand that the guy wit a net pay less than 10K shld not have been worth the hustle. These guys have no savings!

KQ ABP 4.26
the sage
#17 Posted : Thursday, July 29, 2010 10:25:29 AM
Rank: Member

Joined: 11/20/2008
Posts: 367
How about Jonathan Ciano, the turnaround artist, this guys has earned a reputation as a man who takes comatose companies getting them fully recovered.
But I give MJ a heads up over JM for innovation. The vibe for JM firing guys like the late Karisa Maitha is wrong.
VituVingiSana
#18 Posted : Friday, July 30, 2010 7:07:58 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
gathinga wrote:
James mwangi is a rough personality and has ignited several uncalled for fights in his tenure.

1. After the Safaricom IPO, Equity refused the Kshs. 1000/- per applicant due to CDSC for shares purchased on loan. His argument was that the shares were not themselves the collateral. Looking at it, this argument was an afterthought, as the application forms were explicit. For this trouble, EB custodial was stopped from trading for one day. The row was finally resolved, don't know how.

2. Anyone familiar with the ongoing headcount downsizing at EB will tell you that its not done in the most professional manner. Staff identified aren't even being paid redundancy. If I have worked for you 5 years, during which you promoted me three time, how do you wake up one day, declare me incompetent and send me home empty handed. I love the way KCB is doing it. Asking for voluntary retirement and paying them off.

3. Mwangi has picked up a row with NBK and Privatization commission on the other hand for injuring the privatization of NBK by issuing comments implying that EB has already bought off NBK.

For his rough edges, JM loses to MJ as greatest CEO
Whoa! IMHO... JM was RIGHT...

1) If Equity Bank chooses NOT to collateralize the shares through CDSC... So What? Shauri Yao... The 1,000/- fee is punitive! A guy who borrows 10,000/- should not be forced to pay 10% (btw to remove it is another 1,000/-)

2) I can't say but JM can't be involved in every decision! Kwani MJ was checking to see if there is congestion in every base station?

As an investor... I am happy with JM... KCB, pole not so much! The Rights at 25/- are worth 18/- after all these years! Same money in Equity Bank would be up 2x

3) LOL... So what? If EB is interested in NBK, well make the playing field better for EB... Kwani, I pay JM to make NBK look better for others???

This is BIASHARA... If you can't stand the heat... QUIT...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
VituVingiSana
#19 Posted : Friday, July 30, 2010 7:11:09 AM
Rank: Chief

Joined: 1/3/2007
Posts: 18,346
Location: Nairobi
the sage wrote:
How about Jonathan Ciano, the turnaround artist, this guys has earned a reputation as a man who takes comatose companies getting them fully recovered.
But I give MJ a heads up over JM for innovation. The vibe for JM firing guys like the late Karisa Maitha is wrong.
What? Kwani Equity Bank is the government... hiring lousy people & keeping them on? If karisa didn't cut the mustard, he shud have been fired! Or anyone for that matter!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
the sage
#20 Posted : Friday, July 30, 2010 12:14:30 PM
Rank: Member

Joined: 11/20/2008
Posts: 367
Very true VVS, if you have to fire someone you have to. All I am sayimg is HOW you do it. But clearly the way you take it casually, I guess crudity and barbarism are not patented to matatus and councilors.
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