WTF so if we missed plan by $90 million in FY16 but we spent $300 million on acqusitions that helped us lose more does that mean we were actually doing OK last year. I'm guessing why YES it does. So I have a great idea let"s go and 2 more companies with our non existent cash flow. Smart move closing the deals the last couple days of FY16 let's accounting hide the cost in a "failing" year. Too bad we aren't a public company beholden to the SEC and other regulatory agencies. I wonder what a full Sarbanes/Oaxley audit of Follett's book would reveal.
4 replies (most recent on top)
When public companies go through downturns the leadership and board will adjust the dividend payout. It is a shared sacrifice between everyone involved including the shareholders to get the company back on track.
https://www.youtube.com/watch?v=VRrMu7B1L2I
The classic monkey celebration, chart upside down video from Follett's boardroom.
and that let's them not pay out bonuses and profit sharing for the year.
My thoughts exactly! We have monkeys running this business.