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Well im no expert but its not looking good. Why cant GW just listen to its customers rather than just doing whatever they want. They will learn eventually, but hopefully it wont be too late, i.e before the company goes under and the hobby goes down the drain.
Ive seen loads of threads predicting the end of GW, im just hoping there will be enough faithful hobbiests to keep the game alive.
Also im tempted to show this to my mate who is studying Economics and Business, see what he makes of it and what his predictions are.
Aging niche manufacturer with huge R&D overhead + low net margin retail division posts small operating loss on flat sales results? Sorry that's not even making page 2 on anybody's business radar unless they happen to be a gamer too =).
If you take out the cash-party associated with the launch of LOTR in parallel with the wildly successful film franchise, GW is right where they should be for long term growth. Does two slow years in a row mean a risk another company will make a play for a controlling interest? Possibly. GW's IP has historically not fared well when ported to other media though. How many Warhammer video games have been attempted, compared to the success of DoW? Wildly successful tabletop RPGs based on GW IP?
Looking at the substantial holdings, 20 14 12 12 6 and roughly 7 held by the directors. The company isn't looking too terribly easy to buy out. And anybody who wants to do so better try to put the deal together before the 40K MMO hits.
The hobby isn't going anywhere, the senior management just has to put their tails between their legs for another year over letting the operating overhead grow in proportion to the short term earnings boost associated with the LOTR film franchise.
Plus don't forget Hasbro and all the names tossed around as firms potentially interested in taking a stake in GW are US companies whose wimpy dollars become worth fewer and fewer pounds with every passing day of occupation. I don't pretend to be some sort of industry insider, but GW just ain't looking like much of a buy right now.
Last edited by InquisitorAffe; August 3rd, 2007 at 05:39.
Well, what do you know. Australia is the 2nd biggest GW buyer in the world. Thats probably because mini's cost 5-10% more than oversea's mini's though rather than actual number of people buying them.
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I love this from the chairman.
"It was us.
We grew fat and lazy on the back of easy success. We forgot about customer service and forgot that hard
work is and always has been the route to success. We forgot that we are a company which pursues profit
and likes paying surplus cash to its owners. What was not expected was that it would take two poor years
and a management reorganisation to get the problems taken seriously. Somewhere along the line too many
of us thought that selling, sweating and saving were someone else's job."
Duh! That's what we've been saying to deaf ears. At least the chairman has worked this much out so far.
Now to sell the right things. Serve the right people. Fix the right things and remove what is holding them back.
I'd love to see the break-down of sales for the three main areas plus the specialist games.
Cervantes: In order to attain the impossible, one must attempt the absurd.