Comments on: Whoops! http://www.flashcube.org/2008/01/21/whoops-2/ Pop & Politics Mon, 01 Dec 2008 17:16:03 +0000 http://wordpress.org/?v=2.3.3 By: P Hamilton http://www.flashcube.org/2008/01/21/whoops-2/#comment-12064 P Hamilton Mon, 21 Jan 2008 21:11:05 +0000 http://www.flashcube.org/2008/01/21/whoops-2/#comment-12064 Many would have thought this a few years ago. From 1997 onward the company has relied more on smoke and mirrors than the hard work that printing is. I had a 16 year career with Quebecor and participated in the growth from nothing in the late 80's to the top of the mountain in 1999. There is a reason why they have had so many CEO's in the past 10 years - the owners want to hear only what they want to hear. Competence is not rewarded, and all of those who engineered the phenomenon that once was Quebecor Printing have long since left the building (many voluntarily). There will indoubtedly be more smoke an mirrors still to come, possibly a bailout by Quebec institutional investors to save their crown jewel, but the jig is up. Fundamentally Quebecor World is a substandard printing company. They don't know how to grow business nor do they know how to run their facilities. All they know is debt financing, selling off assets and manipulating the balance sheets. The chickens have come home to roost. Many would have thought this a few years ago. From 1997 onward the company has relied more on smoke and mirrors than the hard work that printing is. I had a 16 year career with Quebecor and participated in the growth from nothing in the late 80’s to the top of the mountain in 1999.

There is a reason why they have had so many CEO’s in the past 10 years - the owners want to hear only what they want to hear. Competence is not rewarded, and all of those who engineered the phenomenon that once was Quebecor Printing have long since left the building (many voluntarily).

There will indoubtedly be more smoke an mirrors still to come, possibly a bailout by Quebec institutional investors to save their crown jewel, but the jig is up. Fundamentally Quebecor World is a substandard printing company. They don’t know how to grow business nor do they know how to run their facilities. All they know is debt financing, selling off assets and manipulating the balance sheets. The chickens have come home to roost.

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