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Nakumatt: Another ailing Kenyan company
Rank: Elder Joined: 12/7/2012 Posts: 11,901
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MaichBlack wrote:enyands wrote:Quick question why is opus dei silent these days .what happened to that guy? I used to work somewhere where the "boss" would call a meeting to discuss certain issues. We would all do our research before the meetings. More often than not, he would hold different opinions from ours. After deliberations and everyone stating their case, our opinions would almost always carry the day and he would be "convinced" we should use our approach. Come the implementation phase, he would do exactly what he wanted in the first place and totally ignore what was agreed on in the meeting. After he did this a couple of times EVERYONE stopped contributing in meetings. You should have seen the meetings. The guy talks alone and even starts calling people by name "So and so, what do you think?". Nothing! May be the same is happening to Opus Dei! Fafanua please????? In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 7/22/2009 Posts: 7,451
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Angelica _ann wrote:MaichBlack wrote:enyands wrote:Quick question why is opus dei silent these days .what happened to that guy? I used to work somewhere where the "boss" would call a meeting to discuss certain issues. We would all do our research before the meetings. More often than not, he would hold different opinions from ours. After deliberations and everyone stating their case, our opinions would almost always carry the day and he would be "convinced" we should use our approach. Come the implementation phase, he would do exactly what he wanted in the first place and totally ignore what was agreed on in the meeting. After he did this a couple of times EVERYONE stopped contributing in meetings. You should have seen the meetings. The guy talks alone and even starts calling people by name "So and so, what do you think?". Nothing! May be the same is happening to Opus Dei! Fafanua please????? Advising UK and UK doing exactly what he wants - starting with interest caps!!! 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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Rank: Elder Joined: 12/7/2012 Posts: 11,901
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MaichBlack wrote:Angelica _ann wrote:MaichBlack wrote:enyands wrote:Quick question why is opus dei silent these days .what happened to that guy? I used to work somewhere where the "boss" would call a meeting to discuss certain issues. We would all do our research before the meetings. More often than not, he would hold different opinions from ours. After deliberations and everyone stating their case, our opinions would almost always carry the day and he would be "convinced" we should use our approach. Come the implementation phase, he would do exactly what he wanted in the first place and totally ignore what was agreed on in the meeting. After he did this a couple of times EVERYONE stopped contributing in meetings. You should have seen the meetings. The guy talks alone and even starts calling people by name "So and so, what do you think?". Nothing! May be the same is happening to Opus Dei! Fafanua please????? Advising UK and UK doing exactly what he wants - starting with interest caps!!! Okay he is you and others  In the business world, everyone is paid in two coins - cash and experience. Take the experience first; the cash will come later - H Geneen
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Rank: Elder Joined: 7/22/2009 Posts: 7,451
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Angelica _ann wrote:MaichBlack wrote:Angelica _ann wrote:MaichBlack wrote:enyands wrote:Quick question why is opus dei silent these days .what happened to that guy? I used to work somewhere where the "boss" would call a meeting to discuss certain issues. We would all do our research before the meetings. More often than not, he would hold different opinions from ours. After deliberations and everyone stating their case, our opinions would almost always carry the day and he would be "convinced" we should use our approach. Come the implementation phase, he would do exactly what he wanted in the first place and totally ignore what was agreed on in the meeting. After he did this a couple of times EVERYONE stopped contributing in meetings. You should have seen the meetings. The guy talks alone and even starts calling people by name "So and so, what do you think?". Nothing! May be the same is happening to Opus Dei! Fafanua please????? Advising UK and UK doing exactly what he wants - starting with interest caps!!! Okay he is you and others Nope. Mine was an examples from years back in a totally different environment. Just saying that I might understand Opus Dei's situation given my past experience. 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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Rank: Member Joined: 1/27/2012 Posts: 851 Location: Nairobi
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enyands wrote:Quick question why is opus dei silent these days .what happened to that guy? What does he need to say? The guy is doing his work which doesn't need a lot of talking. A lot of talk you will find with akina Duale.
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Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
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www.the-star.co.ke/news/...n-nakumatt-cops_c1157749MaichBlack what's your obsession with rates cap, guys are plainly stealing from Nakumatt to a point of killing any obstruction and you find a reason to blame rates cap? But yes I agree with you that uhuru is a big let down to the country. Job Losses, massive theft under his watch. He just keeps on whining instead of giving us a solution or acting. punda amecheka
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Rank: Elder Joined: 12/25/2014 Posts: 2,300 Location: kenya
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mkeiy wrote:enyands wrote:Quick question why is opus dei silent these days .what happened to that guy? What does he need to say? The guy is doing his work which doesn't need a lot of talking. A lot of talk you will find with akina Duale. Talking issues about banking sector .Last I heard is the Mpigs were clipping his powers to shut down troubled banks
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Rank: Elder Joined: 2/26/2012 Posts: 15,979
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enyands wrote:mkeiy wrote:enyands wrote:Quick question why is opus dei silent these days .what happened to that guy? What does he need to say? The guy is doing his work which doesn't need a lot of talking. A lot of talk you will find with akina Duale. Talking issues about banking sector .Last I heard is the Mpigs were clipping his powers to shut down troubled banks That has nothing to do with Nakumatt. Plus what banks now? The troubled banks are still in murky waters "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Elder Joined: 7/22/2009 Posts: 7,451
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newfarer wrote:www.the-star.co.ke/news/2015/06/24/auditor-killed-for-stopping-theft-in-nakumatt-cops_c1157749
MaichBlack what's your obsession with rates cap, guys are plainly stealing from Nakumatt to a point of killing any obstruction and you find a reason to blame rates cap?
But yes I agree with you that uhuru is a big let down to the country. Job Losses, massive theft under his watch. He just keeps on whining instead of giving us a solution or acting. Where did you go to school @newfarer??? Where did I blame the rate caps?? I was responding to a TOTALLY DIFFERENT question. See posts# 25 and #29 to see my opinion on Nakumatt!!! Then look at post# 44 above and see if in the whole conversation there is anyone who mentioned Nakumatt EVEN REMOTELY!! I hate arguing or discussing issues with people who totally ignore facts for the sake of a "good" argument. Hiyo kupayuka payuka sipendi!!! 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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Rank: Veteran Joined: 6/23/2011 Posts: 1,740 Location: Nairobi
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Where there is fire there we will be smoke
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Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
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MaichBlack wrote:newfarer wrote:www.the-star.co.ke/news/2015/06/24/auditor-killed-for-stopping-theft-in-nakumatt-cops_c1157749
MaichBlack what's your obsession with rates cap, guys are plainly stealing from Nakumatt to a point of killing any obstruction and you find a reason to blame rates cap?
But yes I agree with you that uhuru is a big let down to the country. Job Losses, massive theft under his watch. He just keeps on whining instead of giving us a solution or acting. Where did you go to school @newfarer??? Where did I blame the rate caps?? I was responding to a TOTALLY DIFFERENT question. See posts# 25 and #29 to see my opinion on Nakumatt!!! Then look at post# 44 above and see if in the whole conversation there is anyone who mentioned Nakumatt EVEN REMOTELY!! I hate arguing or discussing issues with people who totally ignore facts for the sake of a "good" argument. Hiyo kupayuka payuka sipendi!!! i Studied at Harvard school eldoret. What I don't understand is why you have to troll every thread telling why we will suffer because of the rate cap. Always looking for a chance to tell us i told you. punda amecheka
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Rank: Elder Joined: 7/22/2009 Posts: 7,451
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newfarer wrote:MaichBlack wrote:newfarer wrote:www.the-star.co.ke/news/2015/06/24/auditor-killed-for-stopping-theft-in-nakumatt-cops_c1157749
MaichBlack what's your obsession with rates cap, guys are plainly stealing from Nakumatt to a point of killing any obstruction and you find a reason to blame rates cap?
But yes I agree with you that uhuru is a big let down to the country. Job Losses, massive theft under his watch. He just keeps on whining instead of giving us a solution or acting. Where did you go to school @newfarer??? Where did I blame the rate caps?? I was responding to a TOTALLY DIFFERENT question. See posts# 25 and #29 to see my opinion on Nakumatt!!! Then look at post# 44 above and see if in the whole conversation there is anyone who mentioned Nakumatt EVEN REMOTELY!! I hate arguing or discussing issues with people who totally ignore facts for the sake of a "good" argument. Hiyo kupayuka payuka sipendi!!! i Studied at Harvard school eldoret. What I don't understand is why you have to troll every thread telling why we will suffer because of the rate cap. Always looking for a chance to tell us i told you. Wewe peleka ujinga mbali. I was answering a question and @Angelica_Ann told me to clarify!!! Do you even know what trolling is??? Limited knowledge is very dangerous!! 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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Rank: Elder Joined: 3/19/2010 Posts: 3,504 Location: Uganda
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MaichBlack wrote:newfarer wrote:MaichBlack wrote:newfarer wrote:www.the-star.co.ke/news/2015/06/24/auditor-killed-for-stopping-theft-in-nakumatt-cops_c1157749
MaichBlack what's your obsession with rates cap, guys are plainly stealing from Nakumatt to a point of killing any obstruction and you find a reason to blame rates cap?
But yes I agree with you that uhuru is a big let down to the country. Job Losses, massive theft under his watch. He just keeps on whining instead of giving us a solution or acting. Where did you go to school @newfarer??? Where did I blame the rate caps?? I was responding to a TOTALLY DIFFERENT question. See posts# 25 and #29 to see my opinion on Nakumatt!!! Then look at post# 44 above and see if in the whole conversation there is anyone who mentioned Nakumatt EVEN REMOTELY!! I hate arguing or discussing issues with people who totally ignore facts for the sake of a "good" argument. Hiyo kupayuka payuka sipendi!!! i Studied at Harvard school eldoret. What I don't understand is why you have to troll every thread telling why we will suffer because of the rate cap. Always looking for a chance to tell us i told you. Wewe peleka ujinga mbali. I was answering a question and @Angelica_Ann told me to clarify!!! Do you even know what trolling is??? Limited knowledge is very dangerous!! mr kimenyi live and let live punda amecheka
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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newfarer wrote:MaichBlack wrote:newfarer wrote:MaichBlack wrote:newfarer wrote:www.the-star.co.ke/news/2015/06/24/auditor-killed-for-stopping-theft-in-nakumatt-cops_c1157749
MaichBlack what's your obsession with rates cap, guys are plainly stealing from Nakumatt to a point of killing any obstruction and you find a reason to blame rates cap?
But yes I agree with you that uhuru is a big let down to the country. Job Losses, massive theft under his watch. He just keeps on whining instead of giving us a solution or acting. Where did you go to school @newfarer??? Where did I blame the rate caps?? I was responding to a TOTALLY DIFFERENT question. See posts# 25 and #29 to see my opinion on Nakumatt!!! Then look at post# 44 above and see if in the whole conversation there is anyone who mentioned Nakumatt EVEN REMOTELY!! I hate arguing or discussing issues with people who totally ignore facts for the sake of a "good" argument. Hiyo kupayuka payuka sipendi!!! i Studied at Harvard school eldoret. What I don't understand is why you have to troll every thread telling why we will suffer because of the rate cap. Always looking for a chance to tell us i told you. Wewe peleka ujinga mbali. I was answering a question and @Angelica_Ann told me to clarify!!! Do you even know what trolling is??? Limited knowledge is very dangerous!! mr kimenyi live and let live I learned long ago, never to wrestle with a pig. You get dirty, and besides, the pig likes it... George Bernard Shaw Life is short. Live passionately.
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Rank: Member Joined: 9/13/2006 Posts: 123
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This is a sign that there is something deeply wrong with our economy. When large businesses like nakumatt start to have cash flow issues it is clear their revenues are declining. Other wise they should be in a positive position always considering they are selling on cash basis but paying after 90 days. If you analyze how many smaller businesses rely on just nakumatt, tuskys, uchumi for sales consider the ripple effects of this. Our economy is clearly not what it seems. The rocketing levels of government debt are taking toll.
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Rank: Elder Joined: 2/26/2012 Posts: 15,979
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pops wrote:This is a sign that there is something deeply wrong with our economy. When large businesses like nakumatt start to have cash flow issues it is clear their revenues are declining. Other wise they should be in a positive position always considering they are selling on cash basis but paying after 90 days. If you analyze how many smaller businesses rely on just nakumatt, tuskys, uchumi for sales consider the ripple effects of this. Our economy is clearly not what it seems. The rocketing levels of government debt are taking toll.
The only wrong thing is over assumption, leading to over expansion. What you see with Nakumatt is what we see going on with our malls. Even if our middle class is growing, they are not flocking to Nakumatt alone. Online shopping, exhibitions, mama mboga, and other supermarkets are all nakumatts competitors. So borrowing aggressively to expand may not have been a very good idea. They are now repaying the syndicated loan that they took in 2011...restocking may not be a priority. "There are only two emotions in the market, hope & fear. The problem is you hope when you should fear & fear when you should hope: - Jesse Livermore
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Rank: Member Joined: 3/9/2012 Posts: 144
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Bigchick wrote:Lolest! wrote:I don't gerrit How do retail chains which make money from keeping suppliers' money end up in financial mess?? They have overstock and end up with alot of dead stock. Am also thinking the changes in the banking sector are beginning to bite.Banks have become tight with their overdrafts.Both to the supermarket and the suppliers.Banks have lines called Invoice Discounting which are now dying since the margins are low.The banks are also keen on who the Principle is on the Invoice and are not accepting some.That effectively grounds the supplier who is not paid by the Principle on delivery nor the bank advancing them working capital. We clapped at Interest rates capping but me thinks kunaanza kuharibika. Isnt Nakumatt one of the banks favourites when it came to oevrnight lending manenos? So how can they be in debt of 5B?? haii??? I found meaningful work🤓
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Rank: Elder Joined: 12/4/2009 Posts: 10,639 Location: NAIROBI
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There are too many supermarket branches In Kenya compared to the requirements and purchasing power of the population. Some of the branches Nakumatt has been opening aren't breaking even and thus need to be supported by other branches which has become unsustainable to the group. There is also a glut in the number of malls charging crazy rents/leases. The middle class being talked about is over-hyped;guys are broke. Nakumatt if they fail to get a strategic investor will go uchumi way of shutting down some branches to remain afloat but this will come with a price coz of the long term lease agreements they signed with mall owners Wealth is built through a relatively simple equation
Wealth=Income + Investments - Lifestyle
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Rank: Elder Joined: 7/23/2008 Posts: 3,017
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This is a classic case of shooting one's foot; 1. The owners/directors ignored or deliberately decided to not have in place proper corporate governance principles so they can siphon funds out of the country 2. As a result, employees (especially long serving and trusted ones) found loopholes to steal and embezzle company funds with impunity. The culture is too entrenched and every employee is in on the act. Short of shutting business for 6 months and re-recruiting their is little they can do. 3. Further, they have compromised financial reporting for the longest time, cooking books to reduce taxes (this practice must be taught somewhere in Kenya business schools) 4. Now as they look for a strategic investor, the offers they are getting are probably only 50% of the company's true value but they can do little as they have been reporting suppressed numbers for years. "The purpose of bureaucracy is to compensate for incompetence and lack of discipline." James Collins
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Rank: Elder Joined: 9/23/2009 Posts: 8,083 Location: Enk are Nyirobi
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Mseto binti wrote:Bigchick wrote:Lolest! wrote:I don't gerrit How do retail chains which make money from keeping suppliers' money end up in financial mess?? They have overstock and end up with alot of dead stock. Am also thinking the changes in the banking sector are beginning to bite.Banks have become tight with their overdrafts.Both to the supermarket and the suppliers.Banks have lines called Invoice Discounting which are now dying since the margins are low.The banks are also keen on who the Principle is on the Invoice and are not accepting some.That effectively grounds the supplier who is not paid by the Principle on delivery nor the bank advancing them working capital. We clapped at Interest rates capping but me thinks kunaanza kuharibika. Isnt Nakumatt one of the banks favourites when it came to oevrnight lending manenos? So how can they be in debt of 5B?? haii??? Nakumatt doesn't belief in paying suppliers. Manure has hit the fan!!! They owe me money from 3 yrs ago, wrote it off as a bad debt. Life is short. Live passionately.
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