Thread: A Humble Request (Merged)

jjm

Suggest you read oldtimer's and michaelr's recent posts.

But what seemed "odd" to me, was that the consultant team was there for such a short period of time for a company the size of Pips. I know when I was working for a company (and, yes, it was bigger than Pips), it took consultants (3 of them) 3-4 weeks just to do one department of the company!

So I guess I don't understand how one person (only one stayed behind as I recall), could make a good conclusion on restructuring a company the size of Pips in the amount of time that they were there.

Denim I dont think a diary of events will help much, in the sense, they can only point to one overwhelming fact, namely a cash flow problem that outgrew all attempts at resolution.
You may summerise these difficulties thus:
Not yet, we are not finished :0))
Regards
paddy

Originally Posted by jjm

But what seemed "odd" to me, was that the consultant team was there for such a short period of time for a company the size of Pips. I know when I was working for a company (and, yes, it was bigger than Pips), it took consultants (3 of them) 3-4 weeks just to do one department of the company!

So I guess I don't understand how one person (only one stayed behind as I recall), could make a good conclusion on restructuring a company the size of Pips in the amount of time that they were there.

There was a report made by the Consultants (Cedar Management Ltd) at the time that a feasibility study had been carried out and some suggestions had been made but the project was shelved and the consultant returned to the UK.

Originally Posted by michaelr

There was a report made by the Consultants (Cedar Management Ltd) at the time that a feasibility study had been carried out and some suggestions had been made but the project was shelved and the consultant returned to the UK.

As I recall...the consultant performing the overall review of all the companies in that short amount of time...made a statement which message was that BM is a great fellow...but NOT a very good CEO for an International group of Companies...
HOWEVER the "Mistakes done by management" could be remedied IF BM was willing to step down and DELEGATE the running of the companies to those who were more fit for such a task...BM declined this offer...

AND the consultants went really mad...

Largo

srair...........you make me laugh. Thank you. Needed that today. Never went to law school, but I've thought of it. Jurist Doctor has a nice ring to it.

Correct Largo. This is another unpleasantry we spoke of. I don't think anyone can deny that mistakes and oversights were made, but many have made the accusation that Hubris is the real reason. Not so (IMHO), but rather a dream of something better. One needs to ask Why bring in Consultants and then send them packing? Something not quite right here......

Paddy, cashflow is only one of the issues, but we haven't gotten there yet. Yes, there was a short term flow problem around Hawaii, but was that contrived or just 'because'? Then, as we have already discussed, money went AWOL (missing in action) and merchant monies remained unaccounted for. I suppose we could have this discussion now. Good a time as any.

Arcturus

Hehe... AWOL = Absent Without Official Leave. - YB.(though I'm not a Vietcong veteran btw... )

Oh, and EW, Michaelr is correct, but your premise is accurate. Knowing HOW to do business is just as important and knowing WHO to do it with. I believe, as do many, that BM had the necessary connections in the area. Global, however, is another issue..........

Arcturus

If I remember right (BUT I COULD BE WRONG HERE)
when the cosultant posted on 1 of the forums saying pips has money and it will restructre itself and then ww posted it didn't have any money and the didn't trade for a while and then the consultant posted pips didn't have the money they said they did and they will try to put amanagement company to take care of the other money befor it's lost too and try to give some money back to memebers.

Was Warren Webb brought in before, during or after Cedar Management LTD.? I don't recall reading any synopsis from the management group, but do recall reading Warren's. What am I missing here? Are they one and the same group, or is Warren a separate entity?

treasurhunter1

Originally Posted by ArcturusI

One needs to ask Why bring in Consultants and then send them packing? Something not quite right here......Arcturus

They were not sent packing. They were booked by Bryan between specific dates. One of them remained for that timespan.

Warren is nothing to do with Cedar Management. He was there long before the consultants were invited over there.