HohoHo: StanChart’s strategic plans are sounding like our restructuring plans

I’ve joked about our economic restructuring plans

“I’m sorry but

“We are feeling the pains of restructuring, but not yet seeing the dividends of our hard work. But we are pursuing all the right strategies, and I am confident that given time these strategies will work for us.”

smacks of “Jam to-morrow and jam yesterday – but never jam to-day”

Pardon my cynicism.

We’ve been here before. How many times has economy been “restructured” since the 80s? And how many times have SMEs been helped to  “restructure and tide through challenging times”?”

Economic restructuring: This time, it’s really different

Well it seems that StanChart is taking a leaf from it’s largest shareholder. This is the FT’s headline

Standard Chartered promises new plan to boost profitability

Lender’s new strategy will mean further job cuts as it aims to become a simpler bank
Well after three years of a turnround plan, however, there’ll be a new plan next yr.

chief executive Bill Winters has done a poor job of preserving shareholder value — never mind building some — since he joined just over three years ago. The shares are down 40 per cent.

HoHoHo: Time for StanChart’s CEO to go?

(Related post: HoHoHo: StanChart’s CEO is worse than our paper generals)

Ideas are only ever as good as their implementation.

Btw, talking about execution in Capitalism in America: A History, by Alan Greenspan and Adrian Wooldridge, talking about men like Carnegie, Rockefeller,

“These great entrepreneurs earned their place in history not by inventing new things but by organizing them.”

Here’s a comment about the book, “Three themes are highlighted — productivity as the measure of economic progress; the “Siamese twins of creation and destruction” as the sources of productivity growth; and the political reaction to the consequences of creative destruction”

 

 

Cynical Investor

Cynical Investor blogs at Thoughts of a Cynical Investor

 

 

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3 Responses to “HohoHo: StanChart’s strategic plans are sounding like our restructuring plans”

  • HarderTruths:

    Banks run the economy not the government. The governments serve their needs.

    Banks only care about profit – nothing else. Your life means nothing. Your family means nothing. Your lives are expendable.

    If banks cut staff – so what? They do not owe anyone a living. If people are foolish enough to elect a government that serves banks – then that is too bad.

    You die your business. You voted for it. Life goes on.

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  • Rabble-rouser:

    Stanchart Bank is facing their Age of Extinction!
    The factors that will bring them down were:
    * BREXIT (UK would be isolated from EU)
    * EU current NIRP situation (Euro Banks Balance Sheets *shite*)
    * Global Fintech developments (eating alive Global Banks)
    These 3 factors alone are BIG issues that will questioned the survival prospects of Stanchart Bank?
    Either Stanchart devolves into a smaller bank with less reach (downsixing) or collapsed in a flame of glory will depend on their present inept management. But that is their problem, not ours!
    For us, the concern is how much Temasek Holdings would lose in their Stanchart Bank investment & whether it leads back to CPF balances.
    Temasek’s management is even worse than Stanchart management. It is apparent that their investment nous is absolutely below even novice standards. And paying themselves unreported high pay & high performance bonuses adds to the conundrum of PAP’s silly OWNSELF CHECK OWNSELF type of governance. It leads to the prospect of a time bomb of a financial explosion when Temasek Holdings hit the debt ceiling or run out of money to keep their charade going! You feel me?

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  • LIONS:

    Thanks to Tema$ick HO-ding$,Khoos remain at the tops of FILTHY RICH in Sin City.
    Khoo Teck Puat must be laughing at Ho-Jinx.

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