buster. 4,974 Posted January 19, 2016 Share Posted January 19, 2016 By 'exposingtherhats' The man has built himself up from nothing. Ruthlessness, graft and perhaps a bit of ingenuity has led to him building a near monopoly in his industry and billionaire status. Of course any ruthless businessman makes enemies, the at times flamboyant lifestyle, liking for casinos and disdain for the dull city types hasn’t helped. There are concerns the maverick risk taking style of doing business could lead to corporate governance failures but this guy is a serious operator, genuine billionaire and realistically is simply too big to fail. The two paragraphs above could easily have been written to describe the late Robert Maxwell in 1988, by 1991 he was floating face down in waters off the coast of the canaries leaving behind a pillaged pension fund and the largest corporate black hole in UK corporate history. Now I’m by no means suggesting the same fate will befall General Big Mike, I also absolutely haven’t chuckled at the thought of such a re-enactment resembling a scene from Free Willy. However there are parallels and they become more striking by the day. Full blog at https://exposingtherhats.wordpress.com/2016/01/19/big-mike-too-big-to-fail/ 0 Quote Link to post Share on other sites More sharing options...
Frankie 8,371 Posted January 19, 2016 Share Posted January 19, 2016 It's certainly been a difficult month or two for big Mike and it seems his stubbornness can be as much a fault now as it has been a virtue in the past. Just how much of an issue this may prove to be may not be known for a while yet but one does get the feeling recent litigation is just the tip of an iceberg. Will Sports Direct be this century's Titanic? 0 Quote Link to post Share on other sites More sharing options...
buster. 4,974 Posted January 19, 2016 Author Share Posted January 19, 2016 It's certainly been a difficult month or two for big Mike and it seems his stubbornness can be as much a fault now as it has been a virtue in the past. Just how much of an issue this may prove to be may not be known for a while yet but one does get the feeling recent litigation is just the tip of an iceberg. Will Sports Direct be this century's Titanic? A general momentum has built up that seems to have no shortage or letting-up of fuel being added. The bottomline is that it is his own decisions, actions, business practices, corporate goverance etc. taken together paint a horribly negative picture of a rich billionaire. This at a time when so many people are becoming aware of and suffering that stems from the efforts of some of this bracket to get richer, often taking advantage of loaded dice, wanting more still and not caring for the 'rules' or properly being held responsible if caught breaking them. Mr MASH needs to be made an example of and the people need to see it. 0 Quote Link to post Share on other sites More sharing options...
stewarty 1,923 Posted January 19, 2016 Share Posted January 19, 2016 (edited) By far the biggest issue I see is their lack of corporate governance. Its all very well appointing his family and friends - they're hardly likely to challenge his methods. Eventually this stuff catches up on you - as seen by the string of bad business decisions that SD are making. More fool them. Jelly and Ice Cream in the Louden with Sports Direct dies! Edited January 19, 2016 by stewarty 0 Quote Link to post Share on other sites More sharing options...
aweebluesoandso 290 Posted January 19, 2016 Share Posted January 19, 2016 Haha they said the Fat Man's tanks where on the Ibrox lawn, we know how that is going.......Bhwaaahaahahaha 0 Quote Link to post Share on other sites More sharing options...
boabie 230 Posted January 19, 2016 Share Posted January 19, 2016 By far the biggest issue I see is their lack of corporate governance. Its all very well appointing his family and friends - they're hardly likely to challenge his methods. Eventually this stuff catches up on you - as seen by the string of bad business decisions that SD are making. More fool them. Jelly and Ice Cream in the Louden with Sports Direct dies! It might take some time but once the toxidity starts working it's only a matter of time before Ashley, the same as every other powerful businessman fails. 0 Quote Link to post Share on other sites More sharing options...
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