I was wondering about that ie buying distressed companies.

Is it a good business strategy?

honeric01:

You are the IGNORANT one here, someone was asking where he gets his money from, i suggested three names, the names i suggested SHOULD know where he makes his money from, but you are here spewing rubbish.

when you bank with a bank, don't they ask you for your source of income? they surely would know where he makes his money from.

The FG knows too

And the ruling party should know too

Now, how's that ignorant? you see your ignorance?

Definitely a fo.ol to show

bestman09:

No matter what u guys say, i love this man!!!!!!!!!! He is my role model

Same here

kachi_face:

What he does is simple, buy companies who are cash strapped but asset rich. He then use the assets(asset value less depreciation) as collateral to get more money (cash) from banks. When the banks call on the loan, he lets them seize and auction the assets. He has no interest in building any business or improving anything in Nigeria. When he's tired, he sells off the assets and walks away.

He is the proverbial Business Pirate. He destroys and kills any business he gets his hands on, while enriching himself. Ask EAS Airways etc.

Lets watch out what will happen to Newswatch in the next 12-18months.

I love this but I don't think its entirely correct. NICON, his London hotel, furniture company should be in the gutters by now if what you say is true. And nothing of such happened to EAS, please go study. I believe he buys companies that are distressed due to poor management then turns it around by changing the team that runs it.

tpia@:

I was wondering about that ie buying distressed companis.

Is it a good business strategy?

It is a very good business when you are liquid-have excess cash

@kachi face,that is some revelation!

I think i like Jimoh Ibrahim and his business philosophy. He is a patriotic Nigerian and i hale him for his efforts. Many other rich Nigerians would rather invest the money (Whatever the source: 419, stealing, drug) abroad where they would get extra privilege. Lets praise Jimoh, Dangote, OBJ (Agree?) and all the patriotic Nigerians like him. If you know something about cooperate governance, you will realize that, the man is saving NEWSWATCH owners from a great tragedy. I'm sure they got a good deal for a sinking ship!

On a lighter note and at the risk of inviting insults from those who cannot read between the lines, i dislike his change of religion which now means he must pay TITHE on all these purchases to Winner's Pastor. If he had remained in his original religion, the billions would have helped to build many rehabilitation centers for the killer Almajiris in the North. Tufia kwa!

thumbs up to one of my personal mentors,  how many of you have been under this man's training program. am sure when you do, your opinion about him will change. he's one of the most articulate & purpose driven business men. well informed and globally acclaimed, 

this is the trend of strategic entrepreneurs worldwide,  some buy a moribund comapany, re-structure it & sell it off, some acquire a company in a bid to accelerate their growth in market/industry they av interest in and others buy & use as collateral for bank loans.

in a situation where the owners are reluctant to sell, they give them a bear-hug offer which is buying  a company more than its original worth just like how microsoft recently acquired SKPE for a whopping $8.5billion,  the same hatred some of you have for jimoh ibrahim is also directed to bill gates in the US as microsoft plans to acquire FACEBOOK and YAHOO in future.

what barrister jimoh did is a bear-hug offer as N1billion is far more than the value of newswatch and cheaper & faster than starting a new newspaper firm from scatch,  he is into media & recently launched a newspaper so this move will enable him circulate in the southwest & beyond.     the sky is only a stepping stone for this man,  we need more daring indegenous entrepreneurs if Nigeria must deveplo fast.  he will also create employment for jobless youths. JAPAN & CHINA is a good example to learn from,

maxpro-xl:

thumbs up to one of my personal mentors,  how many of you have been under this man's training program. am sure when you do, your opinion about him will change. he's one of the most articulate & purpose driven business men. well informed and globally acclaimed, 

this is the trend of strategic entrepreneurs worldwide,  some buy a moribund comapany, re-structure it & sell it off, some acquire a company in a bid to accelerate their growth in market/industry they av interest in and others buy & use as collateral for bank loans.

in a situation where the owners are reluctant to sell, they give them a bear-hug offer which is buying  a company more than its original worth just like how microsoft recently acquired SKPE for a whopping $8.5billion,  the same hatred some of you have for jimoh ibrahim is also directed to bill gates in the US as microsoft plans to acquire FACEBOOK and YAHOO in future.

what barrister jimoh did is a bear-hug offer as N1billion is far more than the value of newswatch and cheaper & faster than starting a new newspaper firm from scatch,  he is into media & recently launched a newspaper so this move will enable him circulate in the southwest & beyond.     the sky is only a stepping stone for this man,  we need more daring indegenous entrepreneurs if Nigeria must deveplo fast.  he will also create employment for jobless youths. JAPAN & CHINA is a good example to learn from,

I have nothing against his buying all that He has bought, but what I am concerned about is what their staff say about them.

Jimoh is only helping to turn more nigerians into jobless people because he buys everything insight and do nothing to improve on the business rather he uses the infrastructures to borrrow money from banks, check out all the companies he has bought in the past none is surviving, workers are owed salaries, contractors are owed, suplliers are also owed money, he started borrowing from oceanic bank to build petrol stations, since he moved his stations from AP show me Global fleet station that is doing well, NICON Insurance, air line, Nicon luxury suites and others are either dead or crawling.

if realy he has no hidding agenda or just being wicked and selfish will it not be wise for him to borrow this money and use it to improve workers & services of the few companies rather than buying new one's.
I wonder what he will leave behind for his children when banks will practically takes over almost all the remaining companies, Naija guy-man proper.