[DML] Re: DMCH Open House - Haddad speech.

["jtrealtywebspannet" <jtrealty@xxxxxxxxxxxxx>]

Every company needs a visionary to "look over the next mountain" so to speak and give the company a goal to strive for. Usually done by the CEO but not always. A very recent example is Steve Jobes. It may be that JZD was not focused enough on the company's dire finances early on and too distracted by other ventures but that is a delicate balance that is not easy to achieve and in the end it was obvious how focused he became about trying to keep the company alive. If the company (DMC) was just a vehicle to fleece investors why did he go to such lengths to keep it alive? The logical choice would have been to have a "Plan B" and file bankruptcy. Under the right circumstances he could maybe have wiped out most of the creditors with their associated debt and retained a majority interest in the company. Obviously he either didn't want to or maybe couldn't. The laws are different in the UK than the US.
David Teitelbaum

--- In dmcnews@xxxxxxxxxxxxxxx, Cecil Longwisch <dmc8182@...> wrote:
>
> Having the opportunity to purchase and read some of John's personal letters
> from the bankruptcy lawyer, his attention to making the company a success
> are evidenced in these.* If he was not driven to make the car a success he
> would not have been involved in the details of engineering  and company
> operation . His personal handwritten notes that are contained in the letters
> document this.* John's fault may have been lack of focus which is seen in
> his vision of a diverse DMC. He was constantly looking for opportunities for
> growth (including buying other car companies) and in having a company with a
>



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