I agree, Churchill's track record shows they canot manage a conglomerate; the synergies fell apart because management are fueding internally amoungst themselves....as they bought up more companies they did not take into account the management that was in place; sure some should have been turminated....some the good ones should have been promoted...but they didn't do that....it was based on a friendship bases...some got shuved aside, demotted etc. and in some cases the not so good management got promotions. Again it is the corruption.....the kiss a;;;;s ones were promoted as this helps fill the pockets of the group that sticks together.
as stated in an earlier thread this corporation rewards management for getting backlog; not for project execution and profits...and there-in is the bases for the corruption as it is the BS'ers that are being rewarded not the producers.
This is also evedent in that this corporation brings in CEO's who have no knowledge in the construction buisness, i.e Mr. Houck, Mr. Haughey (oil indutry bacground); Mr Sands....CFO...with Banking bacground. These guys can do a good speel (salesmen who shoot from the mouth) but have no idea how to make money in construction. And the share price is showing the results.
The old Churchill corp had mangement in place that was familiar with the construction industry thats why the share price was @ $20.00.