Forum Archive Index - July 2003

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

Hi Wayne,
 
OK, I'll bite.

>
> As a once RBD holder, and once RBD client - I wish him well. I know
> there was the odd fan, on this site, yet I am not one. I see the share
> price dipped on the announcement, can't understand it myself. As a
> once client at the coal face, the business clearly lacked leadership,
> or control. No coffee, no cups, filthy KFC, 
>
>
I'm a bit of a fan of the 'like' the product' 'buy the share' club myself.

So I can understand very well the opposite converse of this.  So lets 
have a look at your complaints one by one.

'lacking leadership or control'

A rather vague accusation.  All the stores I have seen are very obviously 
part of the KFC/Pizza Hutt/Starbucks corporate machine

'No coffee, no cups, filthy KFC'

Quote from p5 of 2003 Annual Report
Specific objective:  "upgrade of our KFC presentation in New Zealand"

Looks like they recognise the problem.   Am I correct in saying that the 
coffee and the cups are part of the help yourself service side of the 
business away from the purchasing counter?    Perhaps it is just 
showing things are that busy the staff didn't get around to putting out 
more foam cups out?    How can they see the mugs have run out 
through a wall full of customers?

IIRC coffee in KFC is a reasonably recent development anyway, so even 
the fact that it is there suggests they are listening to the customers.

>
>poor service from the Huts, 
>

Meaning what exactly?

>
>and a struggling investment into Aus. 
> 

You expect them to buy a business of a receiver and immediately make 
it profitable.  It is coming around.  Give 'em time.

Something that is of concern to me was the statement that in the interim 
Victoria Salmon is taking over the New Zealand operations, and her 
association with as the champion of Starbucks will stand her in good 
stead.   Pardon?

What was a so called independent director doing championing 
Starbucks?   Isn't that meant to be a management function?  I wonder if 
she will do a 'Ralph Norris' and slide from the board straight into the top 
job?  Or are there governance issues simmering below the surface on 
the RBD board?    Just what do 'Salmon & Partners' business 
consultants do - Anyone?

SNOOPY

discl: hold RBD


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