Monday, June 01, 2009

When The Going Gets Tough,

Saw this in CNN website:


There's a picture in that page, with the caption like this:

"Over its history General Motors has made its share of bad products. Some were poorly built, some were badly executed, others suffered from lousy timing."

This sounds alarmingly familiar, there's just once such company back home which is quite similar, don't you think? I wonder, just when will Malaysian taxpayers be liberated the way those folks in the States are?

Perhaps, Obama could learn from his Malaysian counterparts on how to keep GM afloat. Taxing the imports out of affordability sounds like a not bad idea eh?
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And then on Soccernet:


"It is thought Ashley is ready to accept £100m for the club, which will be a huge loss on his outlay since buying the club less than two years ago. . . . . . I put my money into it and I tried my best. But I accept my best was woefully short. I am genuinely sorry for everybody about what has happened. . . . . . I paid £134m out of my own pocket for the club. I then poured another £110m into the club, not to pay off the debt, but just to reduce it.''

Either he is plain stupid, or the club is really crappy beyond help. I remember reading from Rich Dad books: The best investment happens when you can turn a bad piece of investment into a good piece of investment.

This Yank, he did exactly the opposite. Newcastle was a mid-table club of a huge stature and rich history, this bloke came in with lots of money but no idea on what the Premier League is, and in no time turned the club into a 2nd Leeds United. And instead of trying to mend the fences, he's decided to cut his losses.

Perfect example on what NOT to do in business. Cool...

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