Quote:
Originally Posted by Maggy J
The end result is that we as taxpayers get to sort out the workers one way or another...and we didn't cause the problems in the first place..As for due diligence I thought it was a crime to misrepresent how well a company is doing to any company thinking of buying it..If it isn't it's well past time it was and well past time any regulators did something about it.
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That isn't what I meant.
Facts and figures only tell part of the story. You only know if a company is merely a potentially great company that has been run badly or just a company doomed to fail once you take the reins. Balance sheets, financial figures and reports can not tell you the potential of the workforce, the goodwill of a company and just how lucky they have or have not been.
Nothing was mis-represented here. City Link was sold as a "Fixer-upper" and clearly it couldn't be fixed. No need for any new regulations, just a reminder that not all companies can be turned around.