atans1

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

In Banks, Temasek on 02/11/2018 at 10:30 am

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”

 

 

 

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