RE: RE: RE: Kevin Paetz You are definitely correct about saying nothing can help them now. Paetz though, was brought in to establish order and turn the operation around (to which he's done virtually nothing). He was to be a shield for Gordon's son, removing him from the fire. I do not believe though the core issue was the Barret Reykdal and his leadership ability. It's easy to point the finger at him, but in reality the entire business model is flawed. As very few are true decision makers in the company, the lack of focus to enact change and to comply with the needs of the customer base is what's crippled them and will ultimately lead to their undoing.
The 'right now' mentality has cost the company a long term future, since the desirable customer base has shown a tolerance level for increasing fees, something The Cash Store has never grasped. There is no 'value add' in the service they are offering, yet they believe a charging a premium for their loans (over competitors standard fees) is justified. They tried to take as much as they could instead of creating a business model that could compete long term with the MoneyMarts of the world and it's cost them big time. Cash Store cannot reverse the reputation they've created for themselves both with the consumer and legislative groups.
It's a sad commentary for a company that had a great deal of potential a few years ago, but instead of evolving and taking advantage of the true needs of the marketplace, they let greed set in and ultimately miss the chance they had to become a real player in alternative financial services.