Photon – forget about the redundancies, the party continues
Dr Mumbo is delighted to see that Photon Group isn’t letting a small thing like a stock market suspension and capital raising get in the way of the management’s appreciation of a good party.
Regular readers may recall that even after it hit choppy waters, Photon threw an epic party at Cockatoo Island in Sydney Harbour. Since then, things have got even worse, with the company’s shares suspended since June 9.
So it’s nice to read in Lara Sinclair’s Cannes diary in The Australian that the company will nonetheless be throwing a cocktail party at the Cannes Lions ad festival this Friday.
Obviously the timing could be a tad awkward PR-wise if the reorganisation gets announced this week, what with the Photon redundancies that have already taken place this month.
But, hey, networking in the South of France is clearly essential at this stage.
given they own a few global agencies and cannes is a large gathering for decision makers, it doesn’t seem so outrageous to me.
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Q: In a group of 50 companies in which a few are losing money, most are making
money and a few are genuine world-beaters, do you…
(a) Batten down the hatches, crawl into your shell and cut back on stationery.
(b) Take the chainsaw to every limb that is brave enough to stick out from the trunk.
(c) Cut your losses and let your winners run
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Q. In a multinational business where you’re making lots of money but unfortunately one of your oil wells is causing an environmental catastrophe, do you…
a) Recognise that this is not the time to go yachting as it would send out the wrong signals to your hard-pressed staff and potentially be a PR disaster.
b) Carry on regardless
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The previous correspondents should call Macquarie Capital who are raising – well – ANOTHER $200 MILLION to fund the Photon circus. HAHAHAHAHAHAHA. You are only kidding yourselves if you think this is a slick operation !
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After 25 years in this silly game all I can say is…
“stick to the knitting boys , and you’ll be warm this winter. Keep on playing outside and you’ll definitely catch the flu.”
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I could never quite figure the count of 50 companies. Every count I made seemed to indicate that same company./different country counted as more than one company. At one stage the count included non-trading registered company names only. Spin has become spun out…
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