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Turnarounds

The Bottom Line

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How to Survive a Change of Ownership

We were burning a million pounds of cash a week. You can't survive very long doing that when cash is a very finite thing. So basically I had five weeks put together a plan and then ten days after the acquisition was announced we announced the first factory closure. The good stuff can take as long as it likes to get to you. The mistakes you want to know about as quick as humanly possible because you've got more chance of fixing them. And actually the change of ownership and the communication actually creates an instability in the organization which is sounds the bad thing to do but actually instabilities are a really good thing if you want people to change quickly.

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