Fascinating......and entirely predictable....Some quality posts here! Spot on CL300!
Standing from a distance it does seem that apart from a few grand ideas and a shed load of money ( from who knows where) Lux were in such a hurry to spend their money and build their empire that all the boring stuff about how to keep workforce and clients on side as well as build a team of competent local managers who knew what the plan was and were capeable of executing it was overlooked.
No better evidence of this is the fact that for years after acquisition, they just left existing management structures in place. In fact, far worse, they upset profoundly those managers who had intelligence, experience and ability, so they all left. Recruitment of replacements was left to those who were left localy...so the dumbing down spiral of lack of experience or ability was allowed to grow out of control.
Small wonder therefor that these remaining local managers have so spectacularly failed to deliver the centralisation Lux craved.
Even now as these managers gibber like monkeys thrashing about for a plan that might work, the guiding hand of superior beings at Lux is far from evident.
The only reason they have decide to go back to the status quo ( and de centralise) is because it is familiar territory to them and the only way, in their limited ability/ experience they know.
You can be sure that instead of dealing head on with core structural issues, these managers will be furiously busying themselves writing up new procedures and manuals and generating loads of paper work to put into effect the status quo. They are totaly out of their depth....and there is no one to throw them a life line.
Maybe this will all explode....or maybe a face saving de-merger could be organised (perhaps blaming brexit).....but what ever way you look at it, its a salutory lesson that history does repeat itself and that those who are arrogant enough to think they can re invent the wheel.....always end up getting their arses well and truly bitten.
Ps no one need worry about Hansen in all this. Hes surely done just fine already out of brokerage commission even if everything else blew up tomorrow.
Last edited by Ghengis Cant; 1st Apr 2018 at 20:12.