Happy Anniversary DJ/VA!

antycbr said:
How much shareholder equity has been destroyed over those 20 years?

At least there will be a 21st - subject to the deed of company arrangement with Bain - we may be able to fly within our respective states...
Click to expand...

IMO, the start of the decline started when NZ was taken onboard as a shareholder under the late Godfrey era. SQ started acquiring an initial stake prior to the Godfrey to Borghetti handover. Both NZ/SQ expanded their stakes during the Borghetti era.

EY came onboard during the early JB era in a "besties" exchange between JB and JH, both known to have "egos". Throw in CL when he took over as NZ CEO years later and the board was dysfunctional with the "battle of the egos", eventually leading to CL selling NZ's VA stake after the boadroom bustup.
 
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