Signature Story
- Meggi Bogle
- Jun 9, 2024
- 2 min read
When I heard David Aaker recently, he told about the signature story that shall include 6 words. His favorite one was the Hemingway's story: "For sale: baby shoes, never worn."
For the last 10 years, I've got a whole bunch of amazing stories. Sad, or funny, or even dramatic. 6 words or more. None of these stories would keep people apathehic. Each of the stories deserved to be a signature one. The problem is that you shaun't have many signature stories, you have to choose an only one. I made my choice. However, I believe that too many cool stories can stay undeservably beyond the attention.
This one is not my signature story that I chose. But, it is reasoning sufficiently well, why I left Sistema, and the end of my corporate career. This is why I am telling this.
The main reason was the utmost inproficiency of Sistema's staff combined together with the extraordinary utterly unreasonable level of self-esteem, and a complete lack of such human qualities as tact, decency, and mercy.
Sistema was unable to buy Banananama for $800mln, 600, 450, 200, 90 million. I bought Bananamama and all the rest of son of Mongol's assets, including Eldorado, ADG, and the other stuff that cost billion dollards, just for $6.
When I left, Sistema's staff did not pay me approximately 25 mln dollars of salary and bonuses. The slander about me, that was distributed by these idiots who sincerely belived that they are immortal and will live ethernally, still be circulated for years. Really, I did now know, that I still occupy so many space in such small hearts.
If I stayed there, this deal could bring value to Sistema. But, in this case the difference between me and the staff of Sistema would became very notable. None of the idiots who used to get high salaries and bonuses for nothing, did not allow to keep this state of things.
It was the first story pretended to be signature one, which I am telling to free the space for the more serious things for adults. It is adressing the issue how much money shall the good manager get as a job salary, following how much value he can create.
I left Sistema, and it did not pay me my bonus, salary, and many people spat on my wake after. Now you know why. Nobody in this company, which was beneficially owned by my great-granddad John Bogle, made such a kind of the deals never.
In a six words, it could sound something like that.
"Worth as much money as makes."
This signature story clearly answers the question why the equity value of Sistema is so low, despite of such a huge assets value on balance. The sum of the assets value of Sistema is decreased for the value of its staff, who makes negative cash flow bringing negative value which is equal the sum of their salary discounted at the level of their moral and attitude. That's the difference.
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