Re: DON'T PISS OFF THE BOSSES
in response to
by
posted on
Sep 13, 2011 09:45PM
(Edit this Message from the "Fast Facts" Section)
Unfortunately, I think we are at a place that many fairly new companies find themselves in. That is, the founder of a company has enough imagination to get the venture going, and in the process apportions a large enough percentage of shares to controllable family and friends so that the voting is always assured. They then move forward to the point that the founder no longer has the expertise to make the next leap forward and he either doesn't realize it or doesn't trust anyone with real qualifications enough to let go of the reins and let them accomplish what the founder and his friends/family could not. We all know that RS is there, but I personally don't believe he calls the shots. I believe he is being held back by Pierre, who just can't let go so that someone else can bring him the wealth that he is not qualified to bring to himself. I am constantly amazed that founders cannot see that, but they usually can't.
An exception is Ford Motor Company. Bill Ford stepped in and did what he was able to do, but then stepped aside and let Alan M. do his thing. Do you think it was hard for Bill Ford to give up control? Probably. Do you think he is happy he did? Definitely.
When will PQ realize that having his whole family in the management team diminishes SFMI's credibility to larger investors? When will PQ figure out that his best work now will be to complete the assembly of a qualified team for SFMI and then let them run? From where I stand, I hope it is sooner rather than later. We will all be much wealthier if that happens.
O