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NMG 'token of appreciation'
sparkly
#1 Posted : Friday, May 07, 2010 6:07:17 AM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
In 2009 accounts NMG is proposing to give each of the 1,235 permanent employees 200 shares fully paid up as a 'token of appreciation' for their hard work in 2009. Kitu gani hii? The company is distributing capital to employees instead of the shareholders! To make it worse the token is not a performance based incentive.
Life is short. Live passionately.
Gordon Gekko
#2 Posted : Friday, May 07, 2010 6:30:12 AM
Rank: Elder


Joined: 5/27/2008
Posts: 3,760
ESOP. Its fashionable
VituVingiSana
#3 Posted : Friday, May 07, 2010 6:48:21 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,120
Location: Nairobi
@GG - Ati, token of appreciation! I agree with @sparkly...
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Scubidu
#4 Posted : Friday, May 07, 2010 7:28:05 AM
Rank: Veteran


Joined: 9/4/2009
Posts: 700
Location: Nairobi
@sparkly. I know journalists at NMG and you need to realize last year wasn't good for them at all, compensation wise-even in terms of the budget. The people did good work last year despite ad revs going down. Although the token is too small.
“We are the middle children of history man, no purpose or place. We have no great war, no great depression. Our great war is a spiritual war, our great depression is our lives!" – Tyler Durden
Gordon Gekko
#5 Posted : Friday, May 07, 2010 8:21:40 AM
Rank: Elder


Joined: 5/27/2008
Posts: 3,760
BBK, KCB, Kenol have done it. NMG not any different
VituVingiSana
#6 Posted : Friday, May 07, 2010 8:49:21 AM
Rank: Chief


Joined: 1/3/2007
Posts: 18,120
Location: Nairobi
@GG - Performance based is different from 'Token of Appreciation'... On the other hand (restricted) shares better than cash!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
sky5
#7 Posted : Friday, May 07, 2010 12:03:37 PM
Rank: Member


Joined: 5/7/2010
Posts: 282
Location: Nairobi
NMG wants to give out shares and keep the bonus money. Good for cashflow.
sheep
#8 Posted : Friday, May 07, 2010 12:43:08 PM
Rank: Veteran


Joined: 7/24/2008
Posts: 781
Of all the Aga Khan companies,this is the worst managed.I hear its almost like a brothel,his highness should sack the entire management team.

Plus anyone seen the new advert of them singing like stupid primary kids,they should be ashamed of themselves.
The utimate goal of investing is to buy low sell high;if we re-write this core equation in psychology terms it becomes buy fear sell greed.
obiero
#9 Posted : Friday, May 07, 2010 12:56:38 PM
Rank: Elder


Joined: 6/23/2009
Posts: 13,548
Location: nairobi
that ad is not too bad

HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45
Drew
#10 Posted : Friday, May 07, 2010 1:11:21 PM
Rank: Member


Joined: 1/13/2009
Posts: 36
nothing wrong with inspiring employees, g think its a very good idea. On the other alegation that its a big brothel, well i've heard from guyz who have worked for media firms, the workers are very loose and i mean very.
Wondergirl
#11 Posted : Friday, May 07, 2010 1:59:53 PM
Rank: Member


Joined: 9/12/2009
Posts: 312
l love that advert, I see nothing wrong with 'singing like nursery kids'.
Don't we all love kids??
kiriita
#12 Posted : Friday, May 07, 2010 3:38:43 PM
Rank: Member


Joined: 4/20/2008
Posts: 437
I also like that [musical] ad.

And whats that about stupid primary kids? Do you mean that all primary kids are stupid or that the primary kids who sing are stupid???Shame on you
sheep
#13 Posted : Friday, May 07, 2010 3:45:12 PM
Rank: Veteran


Joined: 7/24/2008
Posts: 781
Lilax,NMG employees.Ni furahi day!
The utimate goal of investing is to buy low sell high;if we re-write this core equation in psychology terms it becomes buy fear sell greed.
sparkly
#14 Posted : Friday, May 07, 2010 8:36:47 PM
Rank: Elder


Joined: 9/23/2009
Posts: 8,083
Location: Enk are Nyirobi
@GG no options involved just a token regardless of rank or performance. @vvs i haven't seen anything like it in corporate kenya.@scubi its ok for employees to get a share of capital when business is bad? Why not just restructure? Imagine employees get 30k worth of shares while shareholders risk capital and get 5.5 per share for whole year. @sheep lol
Life is short. Live passionately.
VituVingiSana
#15 Posted : Friday, May 07, 2010 9:04:09 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,120
Location: Nairobi
Aga Khan firms are well-run & even the worst is better than many of the others!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
Scubidu
#16 Posted : Saturday, May 08, 2010 12:46:16 PM
Rank: Veteran


Joined: 9/4/2009
Posts: 700
Location: Nairobi
@sparkly. All I'm saying is that if they had a bad year there needs to be a balance in rewarding every stakeholder. The employees have a vested interest in the business now (don't even think they got a bonus last year). Shareholders also got a share of the capital (a bonus) and a dividend ina down-year, what else do u want? It's not an issue of restructuring, they have an ad-based model, volatile in down years.
“We are the middle children of history man, no purpose or place. We have no great war, no great depression. Our great war is a spiritual war, our great depression is our lives!" – Tyler Durden
Gordon Gekko
#17 Posted : Wednesday, May 19, 2010 1:21:07 PM
Rank: Elder


Joined: 5/27/2008
Posts: 3,760
@vvs, am currently at the NMG AGM and still looking for the guy who did the KK article. I will vote for the special resolution giving the 'token of appreciation'
VituVingiSana
#18 Posted : Wednesday, May 19, 2010 1:36:49 PM
Rank: Chief


Joined: 1/3/2007
Posts: 18,120
Location: Nairobi
Gordon Gekko wrote:
@vvs, am currently at the NMG AGM and still looking for the guy who did the KK article. I will vote for the special resolution giving the 'token of appreciation'
LOL... With my blessings!!! Now if only we knew which other firms he is writing on!!!
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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