Nick777VVV wrote: ↑
02 Sep 2021 06:08
SG couldn't buy the pro bono consultancy they are getting on this thread.
Yes, there is understandable mockery of their (rather silly) own goals, but there is also a genuine desire to try and help the old girl pull through.
Despite the lack of acknowledgement, I'm sure this thread gets read by the SG board.
Will be interesting to see whether any of these ideas get adopted...or whether the head remains firmly implanted in the sand.
I hope not.
I got heavily kicked in the head last week by SG Inc, so these things DO
get read. Sadly for them, it does not deter me. Nothing does.
Also sadly for them, I have accurately predicted all their disasters here as they unfolded, from the mad Investment Parcel Schemes, (that may STILL sink them) the obscene 10 MILLION Quid loss
BidStart/Rosenberg Internet fiasco, that I warned them of many times here, and in my Stamp Columns, from Day #1 of the clear financial disaster awaiting them, which sold them near zero extra stamps. And many other dopey directions the various boards have taken.
That prize IDIOT Gibbons CEO Michael Hall oversaw many of the above, and the insane purchases or merging, of wine merchants, and antiques dealers, and coin, and autograph companies, other stamp auctions that left fade away, and stupidly buying Murray Payne, and other quite hare brained ideas.
I suspect having me on the Board for the past 10 years might have saved them a million (or ten) quid, but they do know best
about how to sell stamps! And MAYBE their share price might still be near the 4 QUID as it was before the recent madness, not just 2 PENCE. Coff.
I have always strongly championed the BIG PICTURE vision that SG must survive, for the good of the hobby, and will always hold that view.
I was once right on the verge of buying Allan Grant's 10% stake in the company, decades back, and am very glad I did not!
To buy 10% even now, would only cost a bit more than a million quid. Sad.
I tried once to seriously talk Christoph Gaertner into buying Gibbons, and he just laughed.
This is crunch year. I suspect PHOENIX will dump them like a hot brick if they keep treading water, or going further UNDER water, and just pushing out the same old lame stuck-record - "We are cutting costs, and working smarter, and harder"
malarkey, whilst announcing yet another
quarterly or annual loss.
are what matters, and blaming everyone and everything else for them NOT making solid sales is feeble. "Boy Who Cried Wolf".
PHOENIX for some reason has saved them in recent years, thank goodness, but their patience must be razor-thin right now.
As I recall, their PHOENIX main entry level was at about 10p? So a LSE level of a QUARTER that now will be hurting them severely. Stock markets are booming right now, and if they had their 10 million or whatever quid back, to invest in well run companies they'd be seeing 20%-30% annual returns on those, not just ever increasing losses from SG, and an ever weakening share price.
This was from the GUARDIAN only 6 years ago
All we have read since then are the same old lame ''we really must do better''
excuses. Report after report after report.
https://www.theguardian.com/business/marketforceslive/2016/m ... undraising