Cash Store Financial Services Inc CSFS

Kevin Paetz

[Jackroy]

Mr. Paetz sure does not appear to be the saviour of this company.  I talked to him once and he is a complete blow hard.  Thinks he is the second coming.  The company appears to be a mess so maybe it will take awhile, but I think the regulartory environment has chewed this company completely up.  They can't seem to build on their infrastructure - they have 500 stores and one product and the regulators have taken the profit from it.

My thoughts - take it private and be done with it.

In Manitoba - I hear they closed the doors

[insightfultruth]

You have made a few very accurate points. No, he is not the savior of the company. He was a perceived short term fix for a problem that went far deeper than what leadership believed was the issue.  He was hired to bully the organization into shape, and develop a plan for strict cost control. Surely then the company would fall into a profitable position right? Not so. As you mentioned 

[Jackroy]

I guess it will come out in the wash.  I would like to see them succeed, but the sector is pretty battered for sure.  Paetz definately has his work cut out for him.  If he can cut costs then it is a start. 

[mtm_wise]

In my opinion Kevin Paetz is not considered to be a savior of the company (nothing can help them).  Simply put, he is a gate keeper until Gord Reykdal decides to bring his son, Barret back from the UK.  The Cash Store is embarrassingly overflowing with nepotism and always has been.  Once the junior Reykdal wants his old job back, Kevin is gone. The only person at The Cash Store

[insightfultruth]

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

[mtm_wise]

You make some very good points insightfultruth.  Barret has been “moved on” to avoid the fire that is slowly engulfing The Cash Store, however, from what I understand, the woefully inadequate business model is catching up with The Cash Store in the UK as well.  Unfortunately the junior Reykdal has never had any real business experience beyond The Cash Store and has been promoted for

[mtm_wise]

You make some very good points insightfultruth.  Barret has been “moved on” to avoid the fire that is slowly engulfing The Cash Store, however, from what I understand, the woefully inadequate business model is catching up with The Cash Store in the UK as well.  Unfortunately the junior Reykdal has never had any real business experience beyond The Cash Store and has been promoted for