🤦♂️ Gerald Ratner, and the speech that cost his company £500m overnight. April 23, 1991, Ratner stood up and sank his jewellery empire in a matter of seconds,calling his products “total crap”. The phrase “doing a Ratner” even entered English lexicon as a term for screwing up.
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@PriapusIQ Why did he gave such a speech, was the company being taking over by a PE firm? He wanted to sink the ship instead of handing it over?
@PriapusIQ A CEO with some humility, you won’t see that nowadays
@PiQSuite That’s why a magician should never show their tricks…
@PriapusIQ That incident was a case study for my accountancy training. What a legacy.
@PriapusIQ I wonder how competitive Elon is after seeing this.