The latest Investing Matters Podcast episode with London Stock Exchange Group's Chris Mayo has just been released. Listen here.
criticising any staff or indeed sales or anything - just from an outside perspective - something is not running efficiently, costs too high, and income too low - but high enough to support the cash bonus payouts... (at the discretion of the company) - but awarded. ! So thats the thanks for the shareholders. Total disregard - i feel the brand has infact done itself no favours at all. Enjoy.
no - the entire workforce - Sales and Non Sales. Do the maths - and it doesnt stack up therefore how the ''owners'' have no weight at all - shareholders have influence on remuneration, Board pay, the lot. Pay has been frozen at the corporation for the majority - altho as mentioned a bird told a bird in the pub one individual was recently recompensed for his loss on options....! Someone is also aware of a retainer agreement of £10K cash if the person stays 3 more years. Seems the protocol here is slightly on its head - not running as a I or any business man would run a business. I am afraid I agree - new owners, break this company into a leaner meaner machine, dump whats not working, focus on anything making cash and sadly for employees, slash the work force agressively. 13,000 work force is somewhat unbelievable with the online / offline presence this business has now. Start up company? Yes - start it up again!!!!! but without possible the 13,000 staff overheads - i just cannot imagine what 13,000 people are up to 40 hours a week.... 13,000 x 40 hours.... erm. Chasing tails? looking busy? something is not stacking up - either the business is healthy enough to support the banks and the bills including wage bill and bonuses - or it isnt. On one hand actions is showing it is... and on the other hand actions and Wiggles is saying it isnt. Money talks - and according to some staff they are aslosh with it. Good luck SHG. Have a beer - its the only way !
Multiply this by say a median discretionary bonus awarded early .... Of 3000 (gross) some far higher of course some less but a median fig And. You get what ..... £39Million one off payment in additional to the wage bill. Can't be based surely on exceeding targets ! And as owners here - one gets nothing. Try dividing an equivalent 39M into shareholders - does that help ? Can't make it up hey.
Fails to say the debt purchased has traded higher and higher so doubt lost hundreds of k. Amazing the old lines still being used as outsourced marketing division of smes. It's only for the lazy. Relies on the lazy. No usp here which cannot be found cheaper elsewhere. Plumbers and electricians are busy yes. But cannot build a global biz strategy on utter laziness. Lastly. ........... Google Kensington plumbers. This chap may have homes there and Chelsea .....however I can assure everyone google plumbers in Kensington and organic results and sponsored results are indeed ....you guessed it ... Plumbing services In Kensington. Outdated arguments and pure spin. Believing ones own PR is very dangerous. Doubt he even took park in this interview at all. Looks like key corporate messaging to me - very outdated for 2013 - but hey that's why they continue to be in quagmire. As for being the most complex and challenging business turnaround and restructure ever in the UK. Doubt it. Yes. Something suggests to me that the goose that laid the eggs may have died now (directory in a book) but some golden handshakes will be taking place - as the BOD wouldn't have agreed to the voluntary default ...... Two sides to every story. I suggest this needs far closer inspection with a fine tooth comb - as it seems littered with inconsistency on all fronts. The clock is ticking on the decision. Not sure where they got their 20 percent 300 holders from unless that's not including the consortium of PIs which accounts for 30 percent. If so it's over 50%. Also do not for one moment think this will safe guard the 12,000 souls employed by the hiboo - as nothing else in this article rings true at all. Google is laughing all the way - and even has them working for them - yes google make good money from hibu !
maybe of interest on I.R. top pod cast. http://www.bbc.co.uk/podcasts/series/bottomline/all
but check the revenue trajectory - 1st quarter results - an accelerating decline - infact so low from print that digital revs has now over taken it.... not through choice I may add!!!!!! They always said they wanted to get digi revs ahead of print - not that quick due to print crashing they didnt! Fair to say banks and all know this and forced their hand - no choice other wise but to shut up shop. a business model which relies on creditors to continually refinance is not tenable in these economic times - so ... well we know the rest. Soros doesnt stand for rubbish and who knows if he broke the bank - he will be radically changing the costs base at the institution / organisation - to suit him and his wallet. The good olde days are im afraid a long time gone. a long time gone. Print was the cash cow and raking it in. Margins on digi just aint there to support this patient which is almost at the end of its life support machine powercell. If I am wrong - then go in and audit all the books and look at he revenue forecasts in this recession with all the competition - then look at the costs base here. Not a pretty picture at all - and it should never have come to this - I mean Yell.com was around a decade or more even before google ! So - a sad sorry story hanging onto print. Anything I said there is FACT. nothing else but FACT.
6 degrees of freedom suggests the revenue change has just gotten a lot harder now with serious aggressive competition in all markets - a global recession - and a business which has not even paid lip service to its key stakeholders yes those very ones who Wiped 660M themselves not long ago. Now for a little more all control is being seized. Fair? I ask you. Fair? Not in the slightest. Enjoy your sunny evenings and wish you all the best with all the options open to You. Empty promises tho sums it all up.
let us know what they say.!
another 35% to go - anyone actually called up the company see what the party line is - as they are 35% short,,,,, is ceebsy actually part the the CCOM? checking what the PI liability could be? only a suggestion - but who knows the way this playing out! more I sup this ale the more my mind is playing with ideas
I am actually aware of one very senior member of staff who was buying heavily last year when at 8, 7, 6, 5, 4, and saying how cheap they were and the team were going to turn it around and make em rich. However - we know the rest. So it is not just 'us' on the outside - unless very inside (and taking cash bonus versus shares... !) then no one knew this was going to be the case of complete wipe out. Begs the question why not state no value months ago and suspend - - - prob eeking out every penny from the private boys whilst the hedges unloaded theirs. The city gets richer.
what 13,000 was in perspective... its enough to completely fill the Football stadiums in many countries eg bulgaria springs to mind! ! kind of says it all on the incredible costs base here against a plummeting revenue line - only once choice im afraid..>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>>> http://en.wikipedia.org/wiki/List_of_association_football_stadiums_by_country Anyway - at the bar and sipping the drinks - i suggest those who have lost their life savings do the same.
have done all they can - and admitting defeat now? will they be standing down - who will be manning the titanic - suppose nothing to do with anyone now. Answers to be had for you all. Or will they pop back up once complete!
6000 sales staff (doing great work - the heavy lifters) and 7000 back office staff ... yes... 7000!!!!! according to the statement - now surely if that is right then..... there is some ''automation'' and ''efficiency savings'' to be hand here - and Soros and Co will be rubbing their hands together as they sharpen the Axe - - perhaps - just perhaps. Next beer now at the pig. Beers all round - think they are needed.
and looking at the full year results and then the 1st quarter and accelerating declines across all measures ... it seems this cannot happen quick enough - this is only just a going concern now - even with the 800M debt reduction... still a 1.6 billion debt or so - and now not much goodwill out there - more like badwill from a guage of the SME and shareholder community (very much the same thing!). Have a BEER. ______________________________________________________________________________ ''However, DeGroote said he expects the new board to rationalise the business and cut jobs. "I think it will be carnage. They'll take lots of heads out. I think the business will be pared right back and the focus will be on generating as much cash as possible."''
pointed to by the chairman's letter....?! it goes to the Morning Star! haha there is not one thing here which has actually showed any attention to detail. Shame Walshy babes didnt manage his buy out - he was one who understood things. Couldnt make it up - but hey - have some more bonuses for links that don't work! >>>>>>>>>>> click it >>>>>>>>>>>>>>>>>> www.hemscott.com/nsm.do Letter from the Chairman to shareholders relating to the financial restructuring The above document was posted to shareholders on 25 July 2013. In compliance with LR 9.6.1, this document has been submitted to the UK Listing Authority via the National Storage Mechanism and will shortly be available to the public for inspection at www.hemscott.com/nsm.do
it is sloppy comms - still states Yell !
http://corporate.hibu.com/investors/shareholder-services ________________________________________________________ check the warning - good of em eh! scams...! Warning to shareholders In common with other UK listed companies, Yell has been asked to warn shareholders about the threat of high pressure sales firms (also known as 'boiler rooms'), often operating from overseas and targeting investors illegally, offering non-tradable, overpriced or even non-existent shares. For more guidance on what you should do, if you receive unsolicited investment advice, please refer to the Information on Boiler Room scams document in the Downloads section at the foot of this page.
ago that right issue request to help em write off 660M debt. 42p i tell ya ! Oh thats right - we forgot - as the name changed to Hibu - a name even the CEO says is worthless / meaningless... on that basis and employing 13,000 staff and 2.2Billion in Debt - it kind of suggests there is no business here ! DYOR tho. As I say - best off investing in yourself in these instances. Or like me a highly speculative share like NEW - doing equally as well lately as this pile of junk ! but could all change - and that's why im there. Pints on me - in the Wig and Pistle.
anything reliant upon intense manpower on a dying product- dont go there.. ! Anyway - enjoy your days as much as possible - off to the pub.
No No No! i am saying is the business is fundamentally broken as the intensive side is falling fast. I will point out however... printing... distribution IS OUTSOURCED!!!!!! this 13,000 ? is INTERNAL STAFF ! sO i put to you - what does everyone in the 130000 actually do? I see more activity here on the discussion board!!! I agree - not the SALES staff at all - they are working ultra hard trying to tread water. However - back management? wonder what the breakdown is on sales and non sales middle management jobs now. anyway ... why invest in Yellow Pages Espania - when you can buy Spain for 3 million Euros! Expect John Condron aint too happy he had millions of shares from the heady days and today got wiped out by his successor he appointed !