VituVingiSana wrote:obiero wrote:VituVingiSana wrote:This article by Carol Musyoka adds to what I have been trying to get folks to understand.
http://www.businessdaily...1/-/odx65f/-/index.html
IF YOU DO NOT TRUST THE MANAGEMENT OF A FIRM THEN DO NOT INVEST IN THE FIRM.My first such significant loss was Olympia. Then KQ.
[I was lucky to recognize early on that Merali was a crook]
@kq management wasnt extremely crooked. what happened is that they stole and macro environment attacked at the same damn time! like a kid looking to steal only one teaspoon of sugar, then unfortunately the sugar jar tips over and breaks!
Ahhh! So KQ's management were just small-time crooks but crooks they were. A kickback from those selling hedges.
A kickback from the juice/soda supplier.
Just small time crooks being paid millions/month.
In my view the main problem at KQ has been KALPA and the unionisable staff. Tying in to this reckless staff agenda are the 2010 payouts from the Doula crash caused by basic pilot error. That was a significant dampener on the cash flow considering fleet size in that year.. Plus we know the ground baggage staff also steal valuables from travellers and thereafter 'misroute' the bags, but little has been done to tame them since mgt is tied by insane court judgements.. Many foreigners fly KQ because they simply have no choice! Trust me they know about the consistent abrupt cancellations, luggage theft, inappropriate accomodation, everything.. The people agenda is key at KQ and im glad at current happenings
HF 90,000 ABP 3.83; KQ 414,100 ABP 7.92; MTN 23,800 ABP 6.45