Home > Uncategorized > Co op woes continue

Co op woes continue



The co-op group certainly does appear to be in a shocking condition with some pretty catastrophic errors of judgement weighing heavily on its current and future prospects

So whats new and what do we learn from this sorry saga?

Firstly the biggest error does appear to have been made with the appointment of senior directors. Simply put they did not have the requisite experience or simple straight forward know how. In fact it would appear that in many cases and one in particular, they didnt have a clue about the market they were involved in

An obvious mistake? Sure but whilst it is hard to defend much top executive pay there is no doubt in my mind that the right people more than pay their way. Bob Diamond would have cost the Co op at lot more than their hapless executives but would he have made such dismal errors of judgement. And weigh that up against the reported losses

Yes we can retort with Fred Godwin but ultimately you will get what you pay for. 


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