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CMC Motor in trouble, Again
Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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when this stock returns trading at the NSE, it will fall to 2/- and never wake up again. Now Land rover has completely stopped doing business with them. http://www.capitalfm.co....s-land-rover-dealership/ Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 3/18/2011 Posts: 12,069 Location: Kianjokoma
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When is this ever going to end? Every news item on this is always sad. Maybe I should write it off.
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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Game over!!  Mark 12:29
Deuteronomy 4:16
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Rank: Member Joined: 2/18/2011 Posts: 448
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finally someone teaches CMC a lesson.they have very poor customer service,really over price and over charge on parts and staff very disgruntled and poorly paid. Hope the new franchise holders brings professionalism and stop this madness of over pricing parts just as toyota kenya or DT Dobie do
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Rank: Elder Joined: 6/2/2011 Posts: 4,818 Location: -1.2107, 36.8831
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Lolest! wrote:When is this ever going to end? Every news item on this is always sad. Maybe I should write it off. it all began when GoK decided to buy 800 Tiggo cars from Chery motors, replacing land rover for the police force. http://www.standardmedia...=2000054604&pageNo=1 Receive with simplicity everything that happens to you.” ― Rashi
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Rank: Elder Joined: 4/22/2010 Posts: 11,522 Location: Nairobi
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Does the regulator have a role in ensuring that sound/proper corporate governance in regard to a listed firm is followed? possunt quia posse videntur
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Rank: Veteran Joined: 4/30/2010 Posts: 1,635
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They still hold the contract until Feb 2013!!
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Rank: Chief Joined: 8/4/2010 Posts: 8,977
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CMC & KQ are competing for the worst headlines this year. Hard to call the winner  $15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!
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Rank: Elder Joined: 6/20/2012 Posts: 3,855 Location: Othumo
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Finally, it is all over for CMC and there goes my ............. investment! Thieves
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Rank: Elder Joined: 9/23/2010 Posts: 2,221 Location: Sundowner,Amboseli
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Another monkey in the making. What an overflow of them @SufficientlyP
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Rank: Elder Joined: 12/11/2008 Posts: 2,306
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Bill Lay may have won the battle but lost the war. The best definition of Pyrrhic victory if there ever was one. Great men are not always wise, neither do the aged understand judgement...
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Rank: Veteran Joined: 4/30/2010 Posts: 1,635
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Long serving director Charles Njonjo has retired from CMC board after serving for 40 years http://bit.ly/TXDQZH
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Rank: Elder Joined: 9/15/2006 Posts: 3,905
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Robinhood wrote:Bill Lay may have won the battle but lost the war. The best definition of Pyrrhic victory if there ever was one. Wisdom in your words @Robinhood. Having had up a black and white upbringing, imagine my reluctance at admitting the world can be grey. Yes grey, because the irony is Martin Forster's grey years may benefit the shareholder more than Bill Lay's white knight battles. I know a retail business where the owner looks at the big picture, doesn't count the coins even when a few go missing, but generally gives trust and autonomy while requiring results. And another one where the owner is larger than life, minutely monitors the cents, looks over staff shoulders scrutinizing opening and closing times etc. I'll give you a wager in which case the owner/staff are happier ;-)
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Rank: Elder Joined: 1/21/2010 Posts: 6,675 Location: Nairobi
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muganda wrote:Robinhood wrote:Bill Lay may have won the battle but lost the war. The best definition of Pyrrhic victory if there ever was one. Wisdom in your words @Robinhood. Having had up a black and white upbringing, imagine my reluctance at admitting the world can be grey. Yes grey, because the irony is Martin Forster's grey years may benefit the shareholder more than Bill Lay's white knight battles. I know a retail business where the owner looks at the big picture, doesn't count the coins even when a few go missing, but generally gives trust and autonomy while requiring results. And another one where the owner is larger than life, minutely monitors the cents, looks over staff shoulders scrutinizing opening and closing times etc. I'll give you a wager in which case the owner/staff are happier ;-) Are we saying daylight robbery is acceptable just so long as everyone is happy??   Mark 12:29
Deuteronomy 4:16
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Rank: Veteran Joined: 2/25/2009 Posts: 973
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I am very very disappointed..waited the whole year for just a glimmer of hope and now this.
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Rank: Elder Joined: 9/15/2006 Posts: 3,905
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guru267 wrote:Are we saying daylight robbery is acceptable just so long as everyone is happy?? Ehehehe @guru267, what I'm saying is to be human is to be beautifully flawed. Businesses that excel do so in spite of some flaws. CEO's that lead them are not geniuses nor heroines; they may profit the business more with conscientiousness and hard work. A knight going into battle dressed in white can lose the war to a shrewd disheveled warrior in rusted armour.
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Rank: Elder Joined: 9/23/2010 Posts: 2,221 Location: Sundowner,Amboseli
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@Muganda,nice poetry  Point thou home! @SufficientlyP
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Rank: Chief Joined: 1/3/2007 Posts: 18,124 Location: Nairobi
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muganda wrote:Robinhood wrote:Bill Lay may have won the battle but lost the war. The best definition of Pyrrhic victory if there ever was one. Wisdom in your words @Robinhood. Having had up a black and white upbringing, imagine my reluctance at admitting the world can be grey. Yes grey, because the irony is Martin Forster's grey years may benefit the shareholder more than Bill Lay's white knight battles. I know a retail business where the owner looks at the big picture, doesn't count the coins even when a few go missing, but generally gives trust and autonomy while requiring results. And another one where the owner is larger than life, minutely monitors the cents, looks over staff shoulders scrutinizing opening and closing times etc. I'll give you a wager in which case the owner/staff are happier ;-) Nonsense. This is the same argument used in Kenyatta's days which snow-balled into the massive institutionalized corruption seen today. The problems are the 'old guard' using every method in the book to keep the Lay/Ndungu/Kibe faction at bay. There was an option for the Forster/Kiereini/Muthoka group to step aside (quietly) but they did not. I understand the rot ran deeper from Martin Forster's son to the department heads as well as the accounting department. Eventually this would have meant the accounts were (increasingly) 'false' as they were... 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: 18,124 Location: Nairobi
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muganda wrote:guru267 wrote:Are we saying daylight robbery is acceptable just so long as everyone is happy?? Ehehehe @guru267, what I'm saying is to be human is to be beautifully flawed. Businesses that excel do so in spite of some flaws. CEO's that lead them are not geniuses nor heroines; they may profit the business more with conscientiousness and hard work. A knight going into battle dressed in white can lose the war to a shrewd disheveled warrior in rusted armour. Only if the "shrewd disheveled warrior in rusted armour" is going into battle with his 'employer' in mind. In this case, there was a huge element of corruption & self-interest from both Forster [who lost his way somewhere] & the board including Kiereini [who did not need the few extra shillings considering his massive ill-gotten wealth] and Muthoka. This fight is between the 'new' money [Ndungu & Kibe] vs the old guard [political heavyweights with massive connections in the Kenyatta & Moi govts] like kiereini & njonjo. Read up on ALCO [African Liaison & Consultancy], Heri Ltd, Kingsway Nominees, etc Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett
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Rank: Member Joined: 2/13/2011 Posts: 284 Location: Nairobi
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Does anyone kno who r th owners, mostly local, of th new franchise takin over Range n Jaguar...
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CMC Motor in trouble, Again
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