Issue 6 Autumn 11
From Garry Wilson
As we enter the final quarter of 2011, we may be on the verge of an unprecedented economic change. It is widely accepted that Greece will default on its debts and the debate has moved to whether it can stay in the Euro and the wider impact of the pending default.
Sector Insight
The Oxygen team would like to shine the spotlight on those who have played a key role in the turnaround industry during the downturn, but who may have received little credit despite their grit, determination and willingness to persevere.
Analogies Gone Wrong
Working in turnarounds can be hard work. Tensions often run high and it is easy to find yourself in a business meeting trying to explain something by providing that perfect comparison, only to realise, just after the words have come out, that it has gone completely wrong.
Looking Back
I don't know what day you are reading this, but let me tell you when I am writing this. It is 14 September 2011. I am telling you this for two reasons. The first is a disclaimer. Given the recent speed of events in issues impacting the world economy, if this article is already out of date, I apologise.
Portfolio Focus
Endless acquired JTF Wholesale out of Administration in April 2009 after a sustained period of losses. The business is a discount warehouse club with 13 stores across the UK.
Time For PE to Step Up
I’m an avid watcher of Masterchef and I even record it. Embarrassing, I know, but I feel better for coming out. The reason I mention this is that on a recent episode, the chefs were required to truss a chicken before gutting it. It wasn’t pleasant to watch, although the chefs seemed fine with it.
Apple Inc.
On 6th October 2011, it was announced that Steve Jobs, the former CEO of Apple, had passed away after a longstanding battle with cancer. Barack Obama said that “the world has lost a visionary”.
Endless Fund III
As Credit Crunch “Mark 2” appears to be bearing down on the global economy, the closing of Endless’ third turnaround fund of £220m could prove to be extremely timely for businesses needing support in continuing troubled times. In an undoubtedly tough fundraising market, two of Endless’ investors provide their thoughts on Endless’ recent fundraising success and the markets in general.
Something Remarkable
“Man needs, for his happiness, not only the enjoyment of this or that, but hope and enterprise and change.”
A pertinent quote from Bertrand Russell, the British literary great and Nobel Prize winner, and one that strikes a chord for those involved in CREATE, the award-winning social enterprise committed to providing training and employment opportunities for people who have been homeless or marginalised.
Solutions
In today’s keen economic environment, competition on the high street remains intense and pressure on household budgets is high. Retailers are continually seeking to reinvigorate and invent new ways to gain access to discretionary spend. Shoppers are prepared to invest in names they trust and which reflect their own aspirations and values.
Garry Wilson Argues His Case
"My bank manager has a glass eye. It’s the left one. I know that because it has a glint of humanity in it."
The New Buzzwords of 2011
Everyone’s favourite Oxygen feature is back. Our ongoing series of amusing business jargon has a selection of the latest business buzzwords.
Progress continues at pace in the turnaround of Vasanta, the £400 million turnover distributor of business supplies that Endless acquired in July 2009.
Commodity prices. Over the past 18 months this phrase has sent shivers down the spines of even the most sedulous of management teams attempting to budget and set effective pricing strategies.
Welcome
Four Years On
The Greatest Turnaround in Corporate History?
Create Something Remarkable
The Language of Business
Oxygen's "Unsung Heroes of Turnaround"
Turnaround Under the Spotlight
Investing in Opportunity
It's Not Just Branding....
Vasanta Turns a Corner
How Not to Mix Yours Metaphors...
Trust or Trussed?
They Are Not Zombies They Are Brombis
The Commodities Conundrum