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Kenya Airways...why ignore..
ArrestedDev
#4331 Posted : Sunday, June 05, 2016 5:59:38 PM
Rank: Member

Joined: 5/29/2016
Posts: 898
Location: Nairobi
obiero wrote:
ArrestedDev wrote:
obiero wrote:
obiero wrote:
Boris Boyka wrote:
obiero wrote:
all this is simple intellectual dialogue.. fact is, naikuni is rotten in that he is a dictator who does not consider anyones opinion. do wazuans know its hedging that mainly led to the huge losses and that this company ordinarily should not report a loss since it is a monopoly in a regional hub frequented by many air travellers. his word is law and that is why he publicly undressed a senior manager over a rather petty issue. even the court's alluded to this fact when they reinstated the sacked workers. all in all, he has done fairly well but KQ will be much better without him

@ Obiero " this company
ordinarily should not report a loss since it is a
monopoly in a regional hub frequented by
many air travellers." True to it and I suspect cooking of figures amongst other things.

before @guru says that kq is not a monopoly. the word has been used here loosely and not in its strict sense

ngunze confessed to us about naikuni and how he ran KQ. why wasn't an audit conducted earlier. your guess is as good as mine. the former CEO set up ngunze for failure. specifically he ensured one of the csuites took over so that blame demarcation would be blurry. where did ngunze start failing will be a question that has no answer. I feel sorry for him since he is not intrinsically corrupt


@Kausha, well said. @obiero, nothing like being set up to fail. He was either deliberately covering up the mess for his predecessor or he is totally clueless and also corrupt. Who between Naikuni and Ngunze have a better management oriented education/experience in respect to the recent revelations? If Ngunze had an interest in saving KQ he should have commissioned an audit as @Kausha puts it immediately when he was confirmed as the MD & CEO. I wonder if the auditors looked into how the fuel hedges and loan taken to purchase the 10 Embraer jets were procured.

the audit could not have been ordered by ngunze himself but the board which was not fully constituted after exit of mwaniki late last year



@Obiero, I will refer you to what I said before here. The responsibility rest at those who are in the office daily or those who are there once in a blue moon? Ngunze served under Mwaniki for sometime. Read the below article by Carol Musyoka, I think it was posted here sometimes back.

http://www.businessdaily...0/-/odx65e/-/index.html
obiero
#4332 Posted : Sunday, June 05, 2016 8:34:34 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,217
Location: nairobi
ArrestedDev wrote:
obiero wrote:
ArrestedDev wrote:
obiero wrote:
obiero wrote:
Boris Boyka wrote:
obiero wrote:
all this is simple intellectual dialogue.. fact is, naikuni is rotten in that he is a dictator who does not consider anyones opinion. do wazuans know its hedging that mainly led to the huge losses and that this company ordinarily should not report a loss since it is a monopoly in a regional hub frequented by many air travellers. his word is law and that is why he publicly undressed a senior manager over a rather petty issue. even the court's alluded to this fact when they reinstated the sacked workers. all in all, he has done fairly well but KQ will be much better without him

@ Obiero " this company
ordinarily should not report a loss since it is a
monopoly in a regional hub frequented by
many air travellers." True to it and I suspect cooking of figures amongst other things.

before @guru says that kq is not a monopoly. the word has been used here loosely and not in its strict sense

ngunze confessed to us about naikuni and how he ran KQ. why wasn't an audit conducted earlier. your guess is as good as mine. the former CEO set up ngunze for failure. specifically he ensured one of the csuites took over so that blame demarcation would be blurry. where did ngunze start failing will be a question that has no answer. I feel sorry for him since he is not intrinsically corrupt


@Kausha, well said. @obiero, nothing like being set up to fail. He was either deliberately covering up the mess for his predecessor or he is totally clueless and also corrupt. Who between Naikuni and Ngunze have a better management oriented education/experience in respect to the recent revelations? If Ngunze had an interest in saving KQ he should have commissioned an audit as @Kausha puts it immediately when he was confirmed as the MD & CEO. I wonder if the auditors looked into how the fuel hedges and loan taken to purchase the 10 Embraer jets were procured.

the audit could not have been ordered by ngunze himself but the board which was not fully constituted after exit of mwaniki late last year



@Obiero, I will refer you to what I said before here. The responsibility rest at those who are in the office daily or those who are there once in a blue moon? Ngunze served under Mwaniki for sometime. Read the below article by Carol Musyoka, I think it was posted here sometimes back.

http://www.businessdaily...0/-/odx65e/-/index.html

what are the credentials of musyoka. which school did she attend, which board has she sat on

KQ ABP 4.26
muandiwambeu
#4333 Posted : Sunday, June 05, 2016 10:34:23 PM
Rank: Veteran

Joined: 8/28/2015
Posts: 1,247
that's a good post by musyoka sir obiero. Skewed management is the real evil in corporate sector. fat cats. imagine if sir nguze was on the front positioning thieving hands how for K's sake would u have known a shit over it
,Behold, a sower went forth to sow;....
VituVingiSana
#4334 Posted : Sunday, June 05, 2016 11:14:16 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
Asked @obiero : "what are the credentials of musyoka. which school did she attend, which board has she sat on"

Cornell (Masters in Law)
She was the youngest (32) Executive/Corporate Director of Barclays at one time.
Was Citibank Kenya’s corporate manager.
She has been on the boards of Barclays Kenya, BOC, TransCentury.
On the board of EABL & BAT.
Chairperson of the Business Registration Service Board.
Board of Trustees of SOS
Children’s Villages

http://carolmusyoka.com/profile/

https://ke.linkedin.com/in/carol-musyoka-a6024652

Carol Musyoka has over 10 years of financial leadership experience working in Kenya
and the United States. She has extensive deal origination, negotiation, structuring and
execution experience, having been involved in several landmark corporate finance
transactions in Kenya. Carol has had significant executive director experience from her
role as the Corporate Director, Barclays Bank Kenya as well as the Executive Director
and Chief Operating Officer of K-Rep Bank.

She currently sits on the boards of Trans-Century Ltd. and British American Tobacco Ltd both of which are Nairobi Stock Exchange listed companies. She also sits on the Board of Trustees of SOS
Children’s Villages. She has previously served on, and retired from, the boards of the
NSE listed BOC Gases, Enablis East Africa (sponsored by the Canadian International
Development Agency), Institute of Economic Affairs, Opportunity Kenya and the
African Legal Support Facility of the African Development Bank.

Carol serves as adjunct faculty at the Strathmore Business School where she is currently the course leader on their flagship Effective Director corporate governance program. She also lectures on several other executive programs at the School. Carol has also been a co-facilitator on Fast Forward, a
local leadership development program that provides “Leadership Unusual” insights to
Chief Executive Officers and C-Suite Management of leading Kenyan companies
(www.sunwords.com).

On an international level, Carol is part of the Durham, North Carolina based Duke
Corporate Education (Duke CE) faculty and is involved in providing leadership
deliveries for some of their global clients. Carol has also provided strategic leadership training to clients of CapitalPlus Exchange, a Chicago based organization that provides peer-learning events
to small business banking financial institutions in Africa and Asia


Carol is a recipient of the 2010 Eisenhower Fellowship for International Leadership
Experience
Founder and CEO
Carol Musyoka Consulting
January 2011 – Present (5 years 6 months)
Chief Operating Officer
K-Rep Bank Kenya
2008 – 2008 (less than a year)
Corporate Director
Barclays Bank Kenya
2005 – 2007 (2 years)
Senior Relationship Manager
Barclays Bank of Kenya
2003 – 2005 (2 years)
Relationship Manager
Citibank/Citigroup
1999 – 2002 (3 years)
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
ArrestedDev
#4335 Posted : Monday, June 06, 2016 10:42:25 AM
Rank: Member

Joined: 5/29/2016
Posts: 898
Location: Nairobi
obiero wrote:
ArrestedDev wrote:
obiero wrote:
ArrestedDev wrote:
obiero wrote:
obiero wrote:
Boris Boyka wrote:
obiero wrote:
all this is simple intellectual dialogue.. fact is, naikuni is rotten in that he is a dictator who does not consider anyones opinion. do wazuans know its hedging that mainly led to the huge losses and that this company ordinarily should not report a loss since it is a monopoly in a regional hub frequented by many air travellers. his word is law and that is why he publicly undressed a senior manager over a rather petty issue. even the court's alluded to this fact when they reinstated the sacked workers. all in all, he has done fairly well but KQ will be much better without him

@ Obiero " this company
ordinarily should not report a loss since it is a
monopoly in a regional hub frequented by
many air travellers." True to it and I suspect cooking of figures amongst other things.

before @guru says that kq is not a monopoly. the word has been used here loosely and not in its strict sense

ngunze confessed to us about naikuni and how he ran KQ. why wasn't an audit conducted earlier. your guess is as good as mine. the former CEO set up ngunze for failure. specifically he ensured one of the csuites took over so that blame demarcation would be blurry. where did ngunze start failing will be a question that has no answer. I feel sorry for him since he is not intrinsically corrupt


@Kausha, well said. @obiero, nothing like being set up to fail. He was either deliberately covering up the mess for his predecessor or he is totally clueless and also corrupt. Who between Naikuni and Ngunze have a better management oriented education/experience in respect to the recent revelations? If Ngunze had an interest in saving KQ he should have commissioned an audit as @Kausha puts it immediately when he was confirmed as the MD & CEO. I wonder if the auditors looked into how the fuel hedges and loan taken to purchase the 10 Embraer jets were procured.

the audit could not have been ordered by ngunze himself but the board which was not fully constituted after exit of mwaniki late last year



@Obiero, I will refer you to what I said before here. The responsibility rest at those who are in the office daily or those who are there once in a blue moon? Ngunze served under Mwaniki for sometime. Read the below article by Carol Musyoka, I think it was posted here sometimes back.

http://www.businessdaily...0/-/odx65e/-/index.html

what are the credentials of musyoka. which school did she attend, which board has she sat on


@VituVingiSana, thanks for enlightening sir Obiero. Your boss cannot act as if he is trying to save KQ. Mckinsey should not have come in without a forensic audit. Some of the things being proposed by Mckinsey posted here are the very basic measures e.g. staff washrooms without tissue papers despite their hefty consultancy bill. The monster bleeding KQ internally is fuel procurement.Fuel contracts at outstations featured in the Mckinsey list but not at NBO, I believe one of them was at Mumbai station where a B777 was flying. If you pay for fuel at an exorbitant price out of your hub then again the uplift at the station back to the hub, how then will the airline survive? Your boss knew and still knows how the fuel procurement kickbacks are received and shared out. They mischievously inducted the E190s with the hope that its fuel efficiency will hide their dirty business. They also thought with the delivery of B787 and mass retirement of B767 and B777 their well calculated schemes will not be revealed. Reduction in capacity poses a challenge to revenue growth. There is no way KQ will surpass the 110B revenue without enough capacity. The results to be released on the last day of June will show an improvised loss position reduction due to proceeds from the sale of assets. You remember NBK results which the CEO touted as the best ever while even unrealized proceeds from sale of assets were recognised as income? Part of the assets sale proceeds will also tilt the 2016/2017 results for KQ then after that the loss position may remain. KQ with Ngunze has a long way out of the current situation. There is no quick fix. Someone already mentioned on here that it took Brian Davis 6 years to pull it out of bankruptcy.
Spikes
#4336 Posted : Monday, June 06, 2016 10:50:04 AM
Rank: Elder

Joined: 9/20/2015
Posts: 2,811
Location: Mombasa
ArrestedDev wrote:
obiero wrote:
ArrestedDev wrote:
obiero wrote:
ArrestedDev wrote:
obiero wrote:
obiero wrote:
Boris Boyka wrote:
obiero wrote:
all this is simple intellectual dialogue.. fact is, naikuni is rotten in that he is a dictator who does not consider anyones opinion. do wazuans know its hedging that mainly led to the huge losses and that this company ordinarily should not report a loss since it is a monopoly in a regional hub frequented by many air travellers. his word is law and that is why he publicly undressed a senior manager over a rather petty issue. even the court's alluded to this fact when they reinstated the sacked workers. all in all, he has done fairly well but KQ will be much better without him

@ Obiero " this company
ordinarily should not report a loss since it is a
monopoly in a regional hub frequented by
many air travellers." True to it and I suspect cooking of figures amongst other things.

before @guru says that kq is not a monopoly. the word has been used here loosely and not in its strict sense

ngunze confessed to us about naikuni and how he ran KQ. why wasn't an audit conducted earlier. your guess is as good as mine. the former CEO set up ngunze for failure. specifically he ensured one of the csuites took over so that blame demarcation would be blurry. where did ngunze start failing will be a question that has no answer. I feel sorry for him since he is not intrinsically corrupt


@Kausha, well said. @obiero, nothing like being set up to fail. He was either deliberately covering up the mess for his predecessor or he is totally clueless and also corrupt. Who between Naikuni and Ngunze have a better management oriented education/experience in respect to the recent revelations? If Ngunze had an interest in saving KQ he should have commissioned an audit as @Kausha puts it immediately when he was confirmed as the MD & CEO. I wonder if the auditors looked into how the fuel hedges and loan taken to purchase the 10 Embraer jets were procured.

the audit could not have been ordered by ngunze himself but the board which was not fully constituted after exit of mwaniki late last year



@Obiero, I will refer you to what I said before here. The responsibility rest at those who are in the office daily or those who are there once in a blue moon? Ngunze served under Mwaniki for sometime. Read the below article by Carol Musyoka, I think it was posted here sometimes back.

http://www.businessdaily...0/-/odx65e/-/index.html

what are the credentials of musyoka. which school did she attend, which board has she sat on


@VituVingiSana, thanks for enlightening sir Obiero. Your boss cannot act as if he is trying to save KQ. Mckinsey should not have come in without a forensic audit. Some of the things being proposed by Mckinsey posted here are the very basic measures. Fuel contracts at outstations featured in the Mckinsey list, I believe one of them was at Mumbai station where a B777 was flying. If you pay for fuel at an exorbitant price out of your hub then again the uplift at the station back to the hub, how then will the airline survive? Your boss knew and still knows how the fuel procurement kickbacks are received and shared out. They deliberately got rid of the B777, inducted the E190s with the hope that its fuel efficiency will hide their dirty business. They also thought with the delivery of B787 and mass retirement of B767 their well calculated schemes will not be revealed. Reduction in capacity poses a challenge to revenue growth. There is no way KQ will surpass the 110B revenue without enough capacity. The results to be released on the last day of June will show an improvised loss position reduction due to proceeds from the sale of assets. You remember NBK results which the CEO touted as the best ever while even unrealized proceeds from sale of assets were recognised as income? Part of the assets sale proceeds will also tilt the 2016/2017 results for KQ then after that the loss position may remain. KQ with Ngunze has a long way out of the current situation. There is no quick fix. Someone already mentioned on here that it took Brian Davis 6 years to pull it out of bankruptcy.





Mwambie sasa. @obiero akiambiwa kitu asikii. Pray
John 5:17 But Jesus replied, “My Father is always working, and so am I.”
obiero
#4337 Posted : Monday, June 06, 2016 3:06:22 PM
Rank: Elder

Joined: 6/23/2009
Posts: 14,217
Location: nairobi
VituVingiSana wrote:
Asked @obiero : "what are the credentials of musyoka. which school did she attend, which board has she sat on"

Cornell (Masters in Law)
She was the youngest (32) Executive/Corporate Director of Barclays at one time.
Was Citibank Kenya’s corporate manager.
She has been on the boards of Barclays Kenya, BOC, TransCentury.
On the board of EABL & BAT.
Chairperson of the Business Registration Service Board.
Board of Trustees of SOS
Children’s Villages

http://carolmusyoka.com/profile/

https://ke.linkedin.com/in/carol-musyoka-a6024652

Carol Musyoka has over 10 years of financial leadership experience working in Kenya
and the United States. She has extensive deal origination, negotiation, structuring and
execution experience, having been involved in several landmark corporate finance
transactions in Kenya. Carol has had significant executive director experience from her
role as the Corporate Director, Barclays Bank Kenya as well as the Executive Director
and Chief Operating Officer of K-Rep Bank.

She currently sits on the boards of Trans-Century Ltd. and British American Tobacco Ltd both of which are Nairobi Stock Exchange listed companies. She also sits on the Board of Trustees of SOS
Children’s Villages. She has previously served on, and retired from, the boards of the
NSE listed BOC Gases, Enablis East Africa (sponsored by the Canadian International
Development Agency), Institute of Economic Affairs, Opportunity Kenya and the
African Legal Support Facility of the African Development Bank.

Carol serves as adjunct faculty at the Strathmore Business School where she is currently the course leader on their flagship Effective Director corporate governance program. She also lectures on several other executive programs at the School. Carol has also been a co-facilitator on Fast Forward, a
local leadership development program that provides “Leadership Unusual” insights to
Chief Executive Officers and C-Suite Management of leading Kenyan companies
(www.sunwords.com).

On an international level, Carol is part of the Durham, North Carolina based Duke
Corporate Education (Duke CE) faculty and is involved in providing leadership
deliveries for some of their global clients. Carol has also provided strategic leadership training to clients of CapitalPlus Exchange, a Chicago based organization that provides peer-learning events
to small business banking financial institutions in Africa and Asia


Carol is a recipient of the 2010 Eisenhower Fellowship for International Leadership
Experience
Founder and CEO
Carol Musyoka Consulting
January 2011 – Present (5 years 6 months)
Chief Operating Officer
K-Rep Bank Kenya
2008 – 2008 (less than a year)
Corporate Director
Barclays Bank Kenya
2005 – 2007 (2 years)
Senior Relationship Manager
Barclays Bank of Kenya
2003 – 2005 (2 years)
Relationship Manager
Citibank/Citigroup
1999 – 2002 (3 years)

someone who sits on transcentury and britam can never advise me. even @vvs and @spikes have higher qualifications than that lady. akimye kimya

KQ ABP 4.26
Ericsson
#4338 Posted : Monday, June 06, 2016 3:12:11 PM
Rank: Elder

Joined: 12/4/2009
Posts: 10,804
Location: NAIROBI
@Obiero
I support you
Board member in those two comapnies are of no consequence.What strategic advise have they offered to them.
Transcentury is sinking.
Same applies to Britam;the retained earnings are thinning out as to avoid share price from crushing after announcing the huge loss;they gave out a dividend.
In Britam Benson Wairegi single handedly runs the company.
In Transcentury the Kiuna's finished it
Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
VituVingiSana
#4339 Posted : Monday, June 06, 2016 4:07:38 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
obiero wrote:
VituVingiSana wrote:
Asked @obiero : "what are the credentials of musyoka. which school did she attend, which board has she sat on"

Cornell (Masters in Law)
She was the youngest (32) Executive/Corporate Director of Barclays at one time.
Was Citibank Kenya’s corporate manager.
She has been on the boards of Barclays Kenya, BOC, TransCentury.
On the board of EABL & BAT.
Chairperson of the Business Registration Service Board.
Board of Trustees of SOS
Children’s Villages

http://carolmusyoka.com/profile/

https://ke.linkedin.com/in/carol-musyoka-a6024652

Carol Musyoka has over 10 years of financial leadership experience working in Kenya
and the United States. She has extensive deal origination, negotiation, structuring and
execution experience, having been involved in several landmark corporate finance
transactions in Kenya. Carol has had significant executive director experience from her
role as the Corporate Director, Barclays Bank Kenya as well as the Executive Director
and Chief Operating Officer of K-Rep Bank.

She currently sits on the boards of Trans-Century Ltd. and British American Tobacco Ltd both of which are Nairobi Stock Exchange listed companies. She also sits on the Board of Trustees of SOS
Children’s Villages. She has previously served on, and retired from, the boards of the
NSE listed BOC Gases, Enablis East Africa (sponsored by the Canadian International
Development Agency), Institute of Economic Affairs, Opportunity Kenya and the
African Legal Support Facility of the African Development Bank.

Carol serves as adjunct faculty at the Strathmore Business School where she is currently the course leader on their flagship Effective Director corporate governance program. She also lectures on several other executive programs at the School. Carol has also been a co-facilitator on Fast Forward, a
local leadership development program that provides “Leadership Unusual” insights to
Chief Executive Officers and C-Suite Management of leading Kenyan companies
(www.sunwords.com).

On an international level, Carol is part of the Durham, North Carolina based Duke
Corporate Education (Duke CE) faculty and is involved in providing leadership
deliveries for some of their global clients. Carol has also provided strategic leadership training to clients of CapitalPlus Exchange, a Chicago based organization that provides peer-learning events
to small business banking financial institutions in Africa and Asia


Carol is a recipient of the 2010 Eisenhower Fellowship for International Leadership
Experience
Founder and CEO
Carol Musyoka Consulting
January 2011 – Present (5 years 6 months)
Chief Operating Officer
K-Rep Bank Kenya
2008 – 2008 (less than a year)
Corporate Director
Barclays Bank Kenya
2005 – 2007 (2 years)
Senior Relationship Manager
Barclays Bank of Kenya
2003 – 2005 (2 years)
Relationship Manager
Citibank/Citigroup
1999 – 2002 (3 years)

someone who sits on transcentury and britam can never advise me. even @vvs and @spikes have higher qualifications than that lady. akimye kimya

She was never on the board of Britam.
She was on the board of TransCentury but quit.
She is on the board of EABL and BAT and both are profitable.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
VituVingiSana
#4340 Posted : Monday, June 06, 2016 4:09:44 PM
Rank: Chief

Joined: 1/3/2007
Posts: 18,347
Location: Nairobi
Ericsson wrote:
@Obiero
I support you
Board member in those two comapnies are of no consequence.What strategic advise have they offered to them.
Transcentury is sinking.
Same applies to Britam;the retained earnings are thinning out as to avoid share price from crushing after announcing the huge loss;they gave out a dividend.
In Britam Benson Wairegi single handedly runs the company.
In Transcentury the Kiuna's finished it


How does Britam come into the picture re: Carol Musyoka?
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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