time to ask some serious questions, page-3

Hi Navy,

I haven't posted much on NMS recently as I don't hold anymore, but I read with interest your post.

For the most part what you said is valid, but I would like to add a couple of points that I think also played a significant part in the downfall of the company.

1. The purchase of all the businesses. Too much too fast, and the way the deals were structured left them open to massive earnout payments etc, and after the 3 year contract period, the previous owners could just take their massive payouts and walk away. As soon as things start to turn sour, this sort of set up simply has a domino affect.

2. Leading on from point 1, there were absolutely no cost controls in place. Their expenditure and corporate expenses were the equivalent of a company that should be generating Billions in revenue, not just $150m or so.

Now who to blame for that? I honestly don't know, and quite frankly I don't care anymore, but Christian has to take a lot of blame for that.

I agree wholeheartedly regarding your comments on other board members. Whoever is still there from 3 years ago should be well and trully gone by now.