Our leadership always has an excuse ready and never takes responsibility for anything. But when they choose to blame external factors or the economic situation for all the bad things, then they actually admit that they don't really have much control over the future of this company, right?
2 replies (most recent on top)
Interest costs on debt were never hedged, so would expect Synamedia are fully exposed to the current interest rate market. It was the decision of the CFO not to hedge interest costs. BP was a useless CFO, straight out of kindergarten really. Add to the fact the commercial decline of the business and you can see how badly the company was managed financially and operationally.
That weasel CFO quit like a boss after fuxing up everything for 3 years. He singlehandedly started this train wreck and now PS is going to end the clown show soon.