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Kenya Airways...why ignore..
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Othelo
#1261 Posted : Wednesday, January 14, 2015 7:39:10 AM
Rank: User

Joined: 1/20/2014
Posts: 3,528
sparkly wrote:
Gordon Gekko wrote:
What further confirmation does one need that the guy is wrong for CEO?
“The board has retained the services of a financial adviser to help re-balance our demand for cash and buy us time to drive the sales we need,” Mr Ngunze said.
Should the focus be balancing books or filling seats?


Now selling land.

www.businessdailyafrica....42/-/l5qnqr/-/index.html

That is what Naikuni's financial advisor has told them to do. Business as usual. Reminds me of Gareth George at KCB.......
Formal education will make you a living. Self-education will make you a fortune - Jim Rohn.
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obiero
#1262 Posted : Wednesday, January 14, 2015 7:57:18 AM
Rank: Elder

Joined: 6/23/2009
Posts: 14,322
Location: nairobi
the land was idle and highly unutilised for many years.. those who live in Nyayo Estate know what im talkin about. its good for KQ to dispose it
COOP, IMH, KEGN, KQ, MTNU
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MaichBlack
#1263 Posted : Wednesday, January 14, 2015 9:09:06 AM
Rank: Elder

Joined: 7/22/2009
Posts: 7,912
obiero wrote:
the land was idle and highly unutilised for many years.. those who live in Nyayo Estate know what im talkin about. its good for KQ to dispose it

No growth envisaged??? Or when that happens they will start buying land again. At what price? Are they going to get such huge tracts in that area? We are not talking about some random land in Kajiado here remember! This is land at the heart of their operations.

They are just selling for accounting purposes!!! That's sad!
Never count on making a good sale. Have the purchase price be so attractive that even a mediocre sale gives good returns.
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derick
#1264 Posted : Wednesday, January 14, 2015 9:29:08 AM
Rank: Member

Joined: 1/10/2015
Posts: 411
MaichBlack wrote:
obiero wrote:
the land was idle and highly unutilised for many years.. those who live in Nyayo Estate know what im talkin about. its good for KQ to dispose it
ix
No growth envisaged??? Or when that happens they will start buying land again. At what price? Are they going to get such huge tracts in that area? We are not talking about some random land in Kajiado here remember! This is land at the heart of their operations.

They are just selling for accounting purposes!!! That's sad!

Think that is the bedt way forward. Kama hiyo land is not being used imekua ni liability,It's not generating any income
Your income is directly related to your philosophy, Not the economy.-Jim Rohn
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Kastone
#1265 Posted : Wednesday, January 14, 2015 10:14:39 AM
Rank: New-farer

Joined: 3/1/2014
Posts: 82
Gordon Gekko wrote:
What further confirmation does one need that the guy is wrong for CEO?
“The board has retained the services of a financial adviser to help re-balance our demand for cash and buy us time to drive the sales we need,” Mr Ngunze said.
Should the focus be balancing books or filling seats?


The guy is focusing on both. Look at the recent developments. I think return to profitability is coming, but not this year end.
“The beauty of success is that it doesn’t matter how many times you have failed, you only have to be right once and then everyone can tell you how lucky you are.” - Mark Cuban
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guru267
#1266 Posted : Wednesday, January 14, 2015 3:07:38 PM
Rank: Elder

Joined: 1/21/2010
Posts: 6,675
Location: Nairobi
obiero wrote:
the land was idle and highly unutilised for many years.. those who live in Nyayo Estate know what im talkin about. its good for KQ to dispose it


Selling prime land to cushion terrible results is just a bad idea!
Mark 12:29
Deuteronomy 4:16
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Impunity
#1267 Posted : Wednesday, January 14, 2015 3:57:25 PM
Rank: Elder

Joined: 3/2/2009
Posts: 26,333
Location: Masada
Gordon Gekko wrote:
maka wrote:
obiero wrote:
Gordon Gekko wrote:
This is confirmation that Ngunze was the wrong choice for KQ.
http://bit.ly/1KsdQ5i
A sales office in Tea Room, another at the Junction, talk of split personality, lakini nitakufa nayo, my average buy price is shocking.

Tema hio mate mbaya! Ngunze is a gift from God


It's the traders who requested.

Traders requested a ticketing office at Tea Room? Unless it is a cargo centre, they can't walk to Barclay's Plaza to buy a ticket? And how many traders are these to warrant an office?
Let us assume a basic office. Rent 20k, manager 100k, 3 x clerks 100k, cleaner 10k, utilities 20k, total 250k. The office needs to generate 250k per month to cover fixed costs. Kwani hawo watu wa Luthuli wanaleta nini?


Which manager will take home 100Kpm? Talk of 250K basic plus exciting allowances on the side...we are talking of monthly expenditure of 1 million and above.
Biashara ya ndege sio kama ya kuuza samaki, not my words but @Kimunya's!
Shame on you Shame on you Shame on you
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Impunity
#1268 Posted : Wednesday, January 14, 2015 4:35:34 PM
Rank: Elder

Joined: 3/2/2009
Posts: 26,333
Location: Masada
derick wrote:
MaichBlack wrote:
obiero wrote:
the land was idle and highly unutilised for many years.. those who live in Nyayo Estate know what im talkin about. its good for KQ to dispose it
ix
No growth envisaged??? Or when that happens they will start buying land again. At what price? Are they going to get such huge tracts in that area? We are not talking about some random land in Kajiado here remember! This is land at the heart of their operations.

They are just selling for accounting purposes!!! That's sad!

Think that is the bedt way forward. Kama hiyo land is not being used imekua ni liability,It's not generating any income


How much were they paying in rates for that parcel of prime plot? And some of the warehouses appear occupied...did someone think deeply in the decision to sell he land?
They will buy the same plot 10B shilling in 3 years to come...just wait n see.
Portfolio: Sold
You know you've made it when you get a parking space for your yatcht.
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Aguytrying
#1269 Posted : Wednesday, January 14, 2015 6:24:30 PM
Rank: Elder

Joined: 7/11/2010
Posts: 5,040
when mawingu was announced I was one of those who heavily criticised it.

KQ debt now stands at 130b!!!! it is the interest payments that are strangling the company and I'm sure it's the reason they are selling the land. to retire some debts.
It still will not be enough if mawingu continues as planned. I don't see any change in fortunes in the near future.
The investor's chief problem - and even his worst enemy - is likely to be himself
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Magnate
#1270 Posted : Wednesday, January 14, 2015 8:26:20 PM
Rank: Member

Joined: 11/1/2013
Posts: 257
waiting for it sub 2 we mumias it after a GOK bail out.
No diagnosis,no pragnosis,no pragnosis no profit......Jesse livermore
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