GREY:GLNIF - Post by User
Comment by
Robert40on May 18, 2012 8:58pm
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Post# 19927811
RE: Market Reaction to another Poor Retail Quater
RE: Market Reaction to another Poor Retail Quater Historically Glentel's Business Centers had been loosing money for past 15 years. Number of reasons can be attributed to it. Mainly Technically non qualified staff ,emotional attachment to friendship rather than business relationship. Understanding business as complex as Satellite and Digital requires retaining people with caliber and knowledge rather than " be happy you still have a job " is fundamental reason for employees leaving this sinking ship. Employees treated GLN as stepping stone and joined the competition at first available opportunity. Result is that Business Centers started selling assets piece-meal and routine e-mails about restructuring and selling assets don't surprise employees anymore. Take a look at this weeks e-mail for example.
"I am pleased to announce that we have sold the VSAT business to Infosat Communications. The sale of the business is effective next month and includes all assets and customer agreements related to the VSAT business..........................Over the next few days, we will be advising all impacted customers via an in person meeting lead by their GLENTEL sales person."....................
General Manager
GLENTEL Business Services Group