Glentel Inc GLNIF

RE: Solid performance????

[Robert40]

My foot. Losses for Business Division increased 249,000 times compared to last years for the same quarter. Total losses of $340,000 for 6 months. This unit has negative return on investments for many years since eastern incompetent management has taken over. They keep blaming the global competition for margin loss. What they don't understand is It is the men behind the machine. If a 46 year old company with all infrastructure depreciated next to nothing can't compete it should not be in business. If you give fire in the hand of a monkey, it will burn down the whole house. This business is created for loss only, no amount of contracts can save it. All these independent stand alone companies were making money prior to acquisition. Now after two years of restructuring and integration situation has become worst. They could not take advantage of  spectrum allotment to new entrants. Their experienced technical people are moving to the competition and making it more difficult. There are two options left. Administer the drastic medicine and roll the heads with competent qualified technical/engineering people who understand the business or sell the Business unit and stick to the business Skidmore's are good at "resale" also called Retail Division that is showing solid performance. You can't blame the dance floor if you don't know how to dance. Only technically sound management can make the difference as they understand the terms and conditions of business. Rule number one says Business should be treated like a business and not like a charity for  friends and relatives. Glentel Business Center management needs major house cleaning to keep future performance in check. Act Now.