RE:Could You Not See This ComingACQ would not have been able to gather OE approval for GM without Pat. Even the GM stores held “exclusively” by autocanada maintain that operator holds a percentage input. Canada One stores are killing it, ACQ stores are sucking wind. They are sore losers .. that’s all that this is.
This is a sinking ship, as indicated by
- q4 results will be abysmal, and below market expectations. Every OE publishes monthly sales data throughout the month, autocanada stores with a few exceptions are not performing to market.
- firing and resignations of general managers and DP. Lots of turnover in auto, however when you review the dealership web pages, lots of faces changing and a few blanks.
- general dislike of current executive. Go take a bottle of wine to any AC store, tell the receptionist you have a gift for the dealer. Deliver it, have a coffee with the guy and ask him “how do you like the new leadership”? It doesn’t take long to read between those lines.
- they are still paying ridiculous multiples for sites. $20mm blue sky for an Edmonton Benz store? Get a grip. No wonder Tom Wilson looks so happy all the time !
- macro headwinds and AB exposure. They don’t have sufficiently strong same stores performing outside of AB to drive value. And the western stores, forget it.
If I was Pat, I wouldn’t worry too much about the litigation, because after the last few terrible results, the new leadership will get turfed before this gets to discovery.
You can only replace everyone around you so many times before people realize that you’re the problem.
You can only blame current results on pst executive for so long before shareholders start to think “that dog dont hunt”
This company needs a check up from the neck up. The fish rots from the head down, right?