The Meeting Place

Centenarian bids millions to clean up Godfreys

The soon to turn 100 major shareholder of ailing vacuum cleaner group Godfreys has made a takeover bid for the entire listed company.

John Johnston was one of the founders of Godfreys in the 1930s and currently owns about 28 per cent of the company.

The bidding vehicle, Arcade Finance, is offering 32¢ per share in an all-cash off-market takeover bid, that if it succeeds will see the 222-branch company removed from the Australian Securities Exchange.

Would you trust the nous of someone about to celebrate their 100th birthday to take the helm of a business employing more than 500 people?


7 comments

Thats one place I would NEVER buy from so hardcore sell -- I am sure they must be on contract

He'd probably do a whole lot better than the present Godfrey's management.

If the guy has a good brain and he obviously has, I see no problem. I admire him.

Well he clearly is not in a home for the bewildered is he. So what has his age got to do with it.

Good on him. Amongst distinguished company. Oldest Executives in the Fortune 500:

1. Warren Buffett—CEO and Chairman of Berkshire Hathaway, 85. First investment at 11.
2. Sheldon Adelson—CEO, Chairman, and Treasurer of Las Vegas Sands, 82. Started at 12.
3. Roger Penske—CEO and Chairman of Penske Automotive Group, 79. Teenage starter.
4. Leslie Wexner—CEO and Chairman of L Brands, 78. Entered industry at 26.
5. Alan Miller—CEO and Chairman of Universal Health Services, 77. Youngest vice president of Young and Rubicam ad agency, New York.

:) Way to go yet.

Rose Blumkin, who founded and ran the Nebraska Furniture Mart, which was bought by Berkshire Hathaway, was 105 years old when she died; she was still running the Mart till that time!

Jack Arnold Weil (1901–2008), founder and CEO of the Denver-based Western clothing manufacturer Rockmount Ranch Wear and was believed to be the oldest working CEO in the US at the time of his death aged 107. He claimed to have quit smoking at age 60, drinking at age 90 and eating red meat at 100. However, Weil said he had a shot of Jack Daniel's twice a week for "medicinal purposes”.

Very interesting.

 

And how does that old saying go: "Youre never to old to learn how to play the piano".

"Ah but many a fine tune's played on an old fiddle".

have only used the shop to buy vacuum bags,    but they seem allright,   daughter bought a vac from them when she first left home,   went for years,    so that seemed ok,   

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