The Company spends shareholder money
on disastrous investments, and then several years later, awards management special bonuses — again shareholder money — for having the «courage» to run away from those very same investments!
Again, you can read the details in the Australian Fund section of the performance report, but we have made a
few disastrous investments during the past five years.
Solyndra was
a disastrous investment for the U.S. government, pushed through by executive order over the reservations of bureaucrats.
This comes to a head in season two when he makes
a disastrous investment in the speculative Grand Trunk Railroad against his broker's protestations, nearly losing all Cora's fortune.
Fonterra's plan to turn around
its disastrous investment in Chinese baby food company Beingmate won't be smooth sailing.
«The family's plans could not survive
another disastrous investment,» Moran concludes.
One
disastrous investment can literally destroy your entire real estate career.
You haven't seen that in the overall portfolio returns, though, because
the disastrous investments have gone wrong at the same time successful investments have come right.
The top hedge funds are stellar investments, but the rest are mediocre to
disastrous investments.
Unfortunately, over the next several years even if the steel markets shift into a cyclical recovery, we fear, and believe, that Commercial Metals will simply shift back from the current strategy where management is supposedly focused on unwinding
its disastrous investments, to the previous «strategy», where management travels the world investing in losing «growth» projects from Croatia to Australia.
Unfortunately, a below average operating performance fueled by a distracting and misguided international growth plan, combined with
a disastrous investment record, has become the defining characteristic of Commercial Metals.