Hello Ashland,
Thanks for the info from the Islandic newspaper, but please tell me that only the first two and a half lines of your post where quotet from the newspaper, and the rest is your personal opinion/experience.
On one point I'm sure you are right, and that is that PH will try to enrich himself. (guess anything else would be bad business)
But exactly what was heroic about his take-over of Sterling and subsequent merger with Maersk Air???????
Don't get me wrong, both where fine companies to work for, both with their own unique company spirits, built over 35-40 years in a tough industry.
But unfortunately, what has happened is tragic. Sterlings management today (chosen by PH) is running their ship through management by fear and intimidation. In fact the scene at Sterling could aptly be described in one word "ASHLAND". (I take it the name refers to the scenery in Iceland)
You're right, he has sold the merged company to FL group, but the actual selling price has never been made public. The agreed selling price was dependent on the performance of Sterling (apparently it was to be judged on the cashflow as of 31.12.2005, I quess there is not much else to judge it by, since Sterling does not have any other assets, seeing everything has been leased) and therefore Palmi's management stayed with Sterling after the sale, to make sure that the outcome would be to Palmi's advantage. This same management is still with Sterling nearly a year after the sale to FL group.
Perhaps Sterling has not performed as well as has been expected, why else have there been rumours for the last 4 months, that FlyMe is looking at buying Sterling from FL group. (essentially Palmi is buying back Sterling from FL group) That is strange to say the least, IMHO.
Uncle Albert, Swedish meatballs aren't that bad, are they?