Ann: PPL announces sale of its media trading business unit, page-6

They basically gave it away, just so they don't have the continuing expenses involved with running it, which probably means it was a massive loss making part of the business.

They sold it to a major shareholder for peanuts.

These guys have never had much ability to do business deals, with Cohort being disastrous. What did they spend to buy Cohort, was it $20 million or more in total, not sure, but it was a huge amount, and since then Cohort have sunk, and these guys have basically completely written it down in the accounts. Was it total management incompetence, or something else, who knows? The chairman is still there, but the CEO fell on his sword.

I told them a couple of years ago what to invest in, and had they done so, they would be at nearly $2 now. The company I sent them information on at the time has gone gang-busters now and is flying. I wish they had pursued this line of business, but oh well, it's gone now. And they never replied, they never do. However, some 6 months ago I sent them information on another investment, which to my immense surprise they then actually did invest in. I have also sent them another investment thesis recently, no reply of course, because they always know best, but maybe there will be another announcement soon.

Over the years that I have been invested in this company, a number of analogies come to mind, like "they don't seem to be the sharpest tools in the shed", and management has often seemed to be "a snagger short of a barbecue", and really, they have at times seemed "about as sharp as a marble". "The gates are down, and the lights are flashing, but the train isn't coming".  At times it seems like they "couldn't pour water out of a boot, with instructions on the heel". Sometimes I think "if you gave them a penny for their thoughts, you'd get change". "Most people drink from the fountain of knowledge, but they only seem to have gargled". And for something tasty, they've always seemed "a few carrots short of a carrot cake".

You gotta laugh eh. I hope they don't mind the comical interlude here, what else can a poor shareholder do, so why not have a laugh at the wreckage.

I reckon they are candidates for the annual Darwin Awards.

(Darwin Awards - Wikipedia)
The Darwin Awards are a tongue-in-cheek honor, originating in Usenet newsgroup discussions around 1985. They recognize individuals who have supposedly contributed to human evolution by selecting themselves out of the gene pool via death or sterilization by their own actions.

Darwin Awards - 9 Stupid Ways to Die

Gw