Re: Charles Morgan fights back
Discussion
Raph C said:
Only one thing is certain:
Charles Morgan is better at PR than those who have ousted him.
Unfortunately he doesn't demonstrate himself to be a very prudent businessman. The chances of reinstatement are minimal yet his negative PR is damaging a company in which he owns a one third share. Not very bright.Charles Morgan is better at PR than those who have ousted him.
Cutting off his nose to spite his face, you might say.
northandy said:
I think frimley111 was wondering why you would be worried about the MD being ousted, if your car is just going into build. They will carry on building cars (in the short term at least, unless the removal is signifying some change to future direction)
Stick it in readers cars when it arrives as I'm sure lots will want to see it, me included.
I'm concerned because I am about to spend 40k with a company which is going through a huge change. Up until now Charles Morgan IS the company and his enthusiasm for the brand is infectious. Stick it in readers cars when it arrives as I'm sure lots will want to see it, me included.
However, there have been a few hiccups in my ordering process. My car is one of 50 limited editions and I requested a particular build number. No problem sir but that'll be 500 quid!!
This tells me that this spat between CM and whoever is about money and nothing else.
[/quote]
Unfortunately he doesn't demonstrate himself to be a very prudent businessman. The chances of reinstatement are minimal yet his negative PR is damaging a company in which he owns a one third share. Not very bright.
Cutting off his nose to spite his face, you might say.
[/quote]
Agreed...and ordering a whole load of BMW engines without consulting the board, plus other financial 'foot in mouth' moments !
Bebee said:
I'm in a family run business and have been since 1980, all I can say is that there are two side to every tale. There is a reason why they want him out.
Yup. And usually just the one cause. Money. Sometimes issues arrive when a new wife does.
Edited by DonkeyApple on Saturday 19th October 17:59
stain said:
I'm concerned because I am about to spend 40k with a company which is going through a huge change. Up until now Charles Morgan IS the company and his enthusiasm for the brand is infectious.
I agree. As someone pointed out on the Telegraph, the shareholders could not have done this without the two other working managers behind it or pushing it. One of them was handed Charles Morgan's title. Yet he is the one who is been responsible for the quality problems. The other guy is the company accountant, in charge of warranty claims. The bean-counters have taken over. Duck. Edited by StraightShooter on Saturday 19th October 18:57
sammi said:
Cutting off his nose to spite his face, you might say.
Strawman said:
It's a bit pointless guessing what the reasons behind this decision were. They build 200 aero supersports a year therefore committing to buy 255 engines doesn't seem outlandish to me, but then I'm not involved in car manufacture.
Actually No ! They were NOT planning on building 200 Aeros !!Zingari said:
Wasn't he supposed to be bringing out a DVD thismonth of his 3-wheel jaunt across the US?
its on the gumball 3000 sitenicely filmed as well
http://www.youtube.com/watch?v=7L_2IcAMxec
Edited by mikebradford on Sunday 20th October 00:03
ayseven said:
I had the pleasure of meeting his dad, and had a nice tour of the factory back in the 70's. Do not underestimate having a Morgan as head of a small, specialised manufacturer. The brand is dependent upon the quirky, old fashioned look to the enterprise. But hey, it is their outfit, and they can run it into the ground if they want to.
He probably knows something about what is happening in the industry, that prompted him to want to expand in other areas, beyond the 'handmade British cars, designed yesterday, and built today'.
He probably knows something about what is happening in the industry, that prompted him to want to expand in other areas, beyond the 'handmade British cars, designed yesterday, and built today'.
That made me laugh (and I'm a huge Morgan fan; I must own at least one in my lifetime).
k.
A good friend of mine, who is not a petrol head but has a lifetime of board membership, shareholding, MDship and expensive legal disputes behind him, told me his opinion as follows (not verbatim)
If CM doesn't have any NDA or non-compete clause in his employment contract, he should firstly go after the company for unfair dismissal. Secondly, he should found the New Morgan Motor Company (or similar) and make a public announcement seeking financial backing from the Morgan owners and enthusiasts, perhaps offering share options for people who cancel their refundable orders with MMCL - basically attempt to trash the MMCL order book. With any luck this should put enough stress on the MMCL/MTL board as well as make a large dent in their cash position. At some point with sales heading south and enough bad will floating around towards the board, MMCL will be looking decidedly ropey. Then CM could raise enough capital and finance to buy out MMCL and reacquire the name/rights/designs/premises to continue where he left off, but with a controlling interest in the company.
FWIW...
If CM doesn't have any NDA or non-compete clause in his employment contract, he should firstly go after the company for unfair dismissal. Secondly, he should found the New Morgan Motor Company (or similar) and make a public announcement seeking financial backing from the Morgan owners and enthusiasts, perhaps offering share options for people who cancel their refundable orders with MMCL - basically attempt to trash the MMCL order book. With any luck this should put enough stress on the MMCL/MTL board as well as make a large dent in their cash position. At some point with sales heading south and enough bad will floating around towards the board, MMCL will be looking decidedly ropey. Then CM could raise enough capital and finance to buy out MMCL and reacquire the name/rights/designs/premises to continue where he left off, but with a controlling interest in the company.
FWIW...
AER said:
A good friend of mine, who is not a petrol head but has a lifetime of board membership, shareholding, MDship and expensive legal disputes behind him, told me his opinion as follows (not verbatim)
If CM doesn't have any NDA or non-compete clause in his employment contract, he should firstly go after the company for unfair dismissal. Secondly, he should found the New Morgan Motor Company (or similar) and make a public announcement seeking financial backing from the Morgan owners and enthusiasts, perhaps offering share options for people who cancel their refundable orders with MMCL - basically attempt to trash the MMCL order book. With any luck this should put enough stress on the MMCL/MTL board as well as make a large dent in their cash position. At some point with sales heading south and enough bad will floating around towards the board, MMCL will be looking decidedly ropey. Then CM could raise enough capital and finance to buy out MMCL and reacquire the name/rights/designs/premises to continue where he left off, but with a controlling interest in the company.
FWIW...
Nice, very 'wall street'. Alternatively I guess they could all shuffle off in to a quiet room and sort their differences out rather than airing their dirty laundry in public. Queensbury rules anyone...............?If CM doesn't have any NDA or non-compete clause in his employment contract, he should firstly go after the company for unfair dismissal. Secondly, he should found the New Morgan Motor Company (or similar) and make a public announcement seeking financial backing from the Morgan owners and enthusiasts, perhaps offering share options for people who cancel their refundable orders with MMCL - basically attempt to trash the MMCL order book. With any luck this should put enough stress on the MMCL/MTL board as well as make a large dent in their cash position. At some point with sales heading south and enough bad will floating around towards the board, MMCL will be looking decidedly ropey. Then CM could raise enough capital and finance to buy out MMCL and reacquire the name/rights/designs/premises to continue where he left off, but with a controlling interest in the company.
FWIW...
Scuffers said:
LordPetroleum said:
Nice, very 'wall street'. Alternatively I guess they could all shuffle off in to a quiet room and sort their differences out rather than airing their dirty laundry in public. Queensbury rules anyone...............?
probably a bit late for that....?He is simply too unpredictable for the company to afford. Loose cannon. And as long as he is presented as a part of the company, in any capacity, he has the ability to bind it legally and very painfully. The millions in BMW engines is only one example.
No current family member has any automobile or business training. Charles Morgan is a TV cameraman for Heaven's sake! So if 70% of his family and his two co-managers think he has to go, we can assume they were forced to that decision. The present public antics of him and his wife give us a taste of what the family have been putting up with for years. Distasteful.
Edited by StraightShooter on Sunday 20th October 23:19
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