I am not sure if the company can survive this. Its shares, which had already lost half their value since the payments came to light, were down a further 29 per cent in morning trading.
As Woodford said from the very beginning, the entire board has to be fired. Better late than never.
[quote name='Sammy' timestamp='1320748664' post='12755']
As Woodford said from the very beginning, the entire board has to be fired. Better late than never.
[/quote]
looks like the board lost interest in photography some time back - too bad, it's always hard for a company to climb back even if there's any money left ....
....although thinking about it, maybe to try to keep olympus alive, they were just trying to make ends meet in other ways that didn't work out when photography became the big two + the little people
Markus,
I don't think the company can survive in its current form. Shares have fallen 70% since Woodford left (and was advised to leave the country immediately!) and the shares may well be de-listed. Plus the detail of the dirt has yet to come out as well as the sheer size of the losses of their shareholders (our pension Funds!). I think it represents a great opportunity for Panasonic to buy Oly on the cheap, rationalise products, production and organisations to seriously take out costs. Oly is still a great brand with a long standing reputation for outstanding products, so I think it will survive under Pana's umbrella. Hope so anyway... I've just bought my wife an Oly XZ-1 for her birthday. Very good it is, too.
Michael
As long as the company has cash-flow (i.e, does not need to borrow) it should be able to survive. The price of the shares will come back once this issue is resolved. However, if they need to borrow they will likely have issues and would likely have to liquidate some assets.