Toby off to Brackmills. Maybe, maybe not ... more waste

Posted June 23, 2012                                                 Twitter: @PaperlinXsuX

There I was quietly composing a research piece on financial discipline, and this arrives.

"Just to let you know that the cleaning firms have been out in force around the Howard Smith offices for the last couple of days as the Brackmills offices (that were converted from offices to er, meeting rooms last year, are now being changed back to er, offices)

However, in an effort to make sure the costs are being well controlled a firm of specialist cleaners spent all day on Wednesday blast cleaning the outside of the building with jets. 

Never been there before as far as I'm aware but then we've never had Royalty staying at this end of Northampton before..."

The sender apparently knows suX, but their identity remains a mystery for the moment.

Before the free speech Nazis get too excited about publishing unconfirmed material; it does seem a credible leak as its similar indulgent behaviour to the refurbishments at Donald Murray Paper prior to Loch Lomond Golf Club, and it isn't too saucy.

Those at EGM1 will recall that one of the justifications for the Milton Mausoleum was the lack of available space at Northampton. Another nail in the coffin of credibility. 

Welcome to tranquil Brackmills ...

Update @ 7 am UK time, Saturday June 23. Something big happening - the leaks are pouring in.

About working conditions. Lest readers consider suX a neanderthal about the CEO's working conditions, my view is that efficiency of capital is the board's first priority in all business decisions. Accommodation is a long term fixed cost and needs to be considered carefully.  

Corporate spendthrifts have great difficulty understanding the difference between "need" and "want". How much money was wasted on MK in 12 months? SuX suggests circa £1 million, all up. More soon, see below.

Global financial services firms such as banks and accounting and legal firms need to have flash premises, and all in close proximity, as that's how they do business. Also, they don't have inventory and distribution to worry about. 

City legal firms need to be near law courts.

That's why PaperlinX was the odd man out on the tenant's directory at The Pinnacle (sic).

Efficiency of capital is an holistic term including working conditions. In OZ we call it Occupational Health and Safety (OH&S).

Readers may care to check out this Comment here.

Anonymous      6/21/2012 01:17:00 PM

"I joined rhg at the end of the 90's ..."  Thanks for the contribution.

Meanwhile, regular readers will recall the photos immediately below from a posting back on February 28, 2012 showing the deprived  business environment at Brackmills. See Marchant's waste is starving everyone. 

Nice to be proven correct once in a while, thanks to local input.

Notice how dilapidated and dirty this building is

That posting was four long months and one EGM ago. Here is the view from Australia over the past six months. Toby, do you get the picture?

Some happy snaps of PaperlinX's premises.

Scenic views don't equal vision

Comfortable premises are only as efficient as those who are privileged to occupy them. 

Below is where Tony Clarke previously worked in suburban Melbourne as executive director of finance of an ASX listed company, with global manufacturing operations in auto parts. The company was taken over by Bosch. The same premises are still used by Bosch many years later.

Bosch is a global leader in making money.

Here is PaperlinX's HO and Victorian office, Scoresby. 

Remember, this IS head office

This is PaperlinX in Perth, WA. Looks perfect to suX.

No wonder these guys look so happy. Making money against PaperlinX UK must be like shooting fish in a barrel.

Here are the provisional subjects that I was working on before being distracted by another gross financial indulgence in the UK. Imagine what waste goes on unseen!

1. Questions to ponder before appointing the next CEO.
      
2. Board accountability - that's an interesting concept!
      
3. Using not abusing owners' capital.
      
4. Why going bust in 2009 would have been the best outcome for everyone.
       
5. Where are the paper merchants in a paper merchanting business?
       
6. The Fairfax parallels in OZ - so sad but so true.
      
7. Why PaperlinX has now exhausted most options and still refuses the obvious?
       
8. Where to from here? Rock-paper-scissors anyone!
      
9. Why all future major asset sales must be subject to a shareholders vote.
      
10. SuX understands that the sale of PaperlinX North America is imminent and has been provided a name of an unconfirmed buyer. More soon, I hope.