GIGL is a much better long term investment than OTTV, and some of the other ones that GIGL longs are invested in elsewhere.
Our biggest liability is and always has been the CEO.
Now I know this will upset the Joey Parsi knee pads fan club here, but it's true...if you HAD to pick a weakest link, would it be Gay, Kaufman, Michaels, Mowri, the Gymboree exec, the PR/Marketing team?
I guess a runner up candidate would be the Director of Expansion, but I think his options are limited by the decisions Parsi makes.
Again, if people are knocking at the door to expand, there should be more movement than worthless LOIs.
Deals take a long time to develop, for sure, that isn't what bothers me. I'll wait 5 years for expansion.
It's that Parsi seemingly doesn't understand how to mitigate cash flow issues. If he has to go in pocket to fund operations -- maybe it's time to take a lesser deal to expand the footprint to bring in revenues. Then when GIGLs is financial self-sufficient, he can go back to being more of a hard-a$$ when it comes to negotiating future deals.
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