WOW - Who Are The Dumbest: The Management Or The Shareholders For Voting Them In?

[piggybank]

Hi,

I just received (via my email account) a survey invitation which could win me a $500 shopping card - although we know deep down we have a better chance of winning the first prize on Tattslotto .

The funny thing is I didn’t see the CEO saying “bribing”

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people to get their views on how to improve things within there shops, when they have thousands of shareholders who (I maybe wrong) would be more than happy to have a say on what needs to be done to improve the bottom line!!

The first question asked is:-

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Surely when the company is trying (as it should at all times and not just when you have lost a BILLION dollars and still hemorrhaging) to cut to the bone, (be what I feel) is a half baked attempt to look to be seriously trying to turn the tide. Why giving away (in my view wasting) $25,000 aimed at people who may not even have been in a Woolworths store yet get $500 for telling porky pies!! These are the fresh food people but with NO FRESH ideas…

A fortnight ago (in the local Woolworths store) I was going to purchase a packet of my favourite soup until I noticed it was a month out of date as were the rest of the dozen packets. I then went to the front desk to see the manager but I was informed he was off sick, so I asked to see the acting manager but she was off having lunch. So I kindly (as well as facetiously) asked if anyone was actually in charge and if so could I speak to them? she went off somewhere and returned with the acting-acting manager. After explaining about the soups he said he would have them removed and didn't even thank me for pointing it out. Since then I have been going to Coles now to do my shopping and noticed that their stores are cleaner, brighter and their customer service is much better.

Yes I am a dissatisfied shareholder and former customer.

 

[Craton]

G'day piggybank, good to see you posting again.

Another great Aussie company where the board has "screwed the pooch"!

Hmm, Fresh Food People eh?
If WOW actually did have fresh produce then I'd be consuming WOW's products.

Woolies, although not alone, want to centralise their meat processing in VIC:

SMH

Beef Central

I had the dis-pleasure of having to buy one of their prepackage leg of lambs for Aussie Day. The stench of rotting meat was more than noticeable. Amazing what garlic and rosemary can disguise...
What erks me is that we in remote/regional areas struggle enough as it is. Now more jobs will go.

Since WOW started running out of meat and then prepackaging some of their meat lines sometime ago, the local butchers get a regular visit from me.

Another example of the NOT Fresh Food People.
As a matter of convenience, my partner bought a bag of carrots from WOW a week ago. We used the carrots we needed and then duly placed said carrots in one of those "stay fresh" bags (that work so well ) and then put the carrots into the crisper of our very modern fridge.
Lo and behold, the very next day all, each and every carrot was marred by a black darking (similar to how carrots oxidise went grated and left in the open air) all over each carrot. Partner took them back, along with receipt and complained, was given the third degree but WOW did replace them in the end.

Surely if WOW stood by its slogan there'd be no need for a survey and WOW would have kept its #1 tag. Good on Coles/WES for sticking it to them.

Re. the survey in general. I'm not sure I'm alone on this but the way WOW wants to have its grubby little fingers in every pie that touches our hip pocket simple leaves me cold and disgusted. Especially when the food we eat is compromised by corporate greed.

With competition from Coles/WES, Aldi, Costco and others, surely the board would have been better to spend on keeping WOW's position at the top of the food chain.

I gotta laugh at #3 of "MY STRATEGIC PRIORITIES"
WOW drove Dick Smith into the ground and have had a spectacular bleed with Masters.

Like PB, we too have been doing the bulk of our shopping away from WOW. If fact, you could say that we boycott them as a matter of principle.

 

[divs4ever]

i kept on voting against them ( the board ) but the majority ... ( SIGH )

so i started reducing the holding and now i rarely bother voting

( maybe the EDV board will do better and respond to shareholder direction , .. i hold EDV courtesy of the WOW demerger )

and yes i shop more often away from WOW even when several options are available at the same mall ( the closest major outlet is a MTS franchise in a 'strip mall ' )