Trakm8 Share Discussion Threads

[dave2608] 06/5/2020 10:08

I wonder how much dough this turnaround man is on. Oh and guess the drastic measures he will no doubt will be implementing shortly, in addition to the ones already taken.

[dave2608] 06/5/2020 09:57

If Nickie is as good as people are saying and I've no reason to believe otherwise then it's sheer madness for someone of this quality to be leaving is it not? One can only assume that cash flow is ridiculously tight and drastic measures are being taken which makes a mockery of last weeks trading statement. £1.7 million cash on hand? At the risk of boring people I'll say it again. How much of that cash is Trakm8's and how much is the government's? Well judging on yesterday's bombshell by 6jacko most of it I would think belongs to HMRC although trakm8Fan would have you believe otherwise.

As for Watkins he's got limited liability so he won't be taken for everything. He's been drawing a CEO's salary for umpteen years plus he sold a great wedge of shares a few years back "to satisfy institutional demand" at multiple times what he would have been issued them with. So he's likely to have plenty in the bank.

The only glimmer of hope I can see - and I'm clutching at straws to a degree - is that costs now are being cut to the bone.

It would be ironic if Nickie ended back at Masternaut. I'm saying that not knowing why she left Masternaut in the first place.

[dc2] 06/5/2020 09:52

Blonde, FFS just move on. I used to respect your posts but recently you cannot see through your anger - you come out with half facts and extrapolate to the doomsday narrative that you wish for. You made a mistake and lost (which proves you don't know everything about this company). Admittedly, you did make me laugh when you accused the CEO of doing the very thing you did here not so long ago (ramping whilst dumping) - perhaps you are not so dissimilar.

I'm going to take a break from posting on here - it is no longer full of well meaning contributors (bulls and bears). Perhaps when I come back Trakm8 will be gone.

GLA

[6jacko] 06/5/2020 09:51

Blondeamon- couldn't agree more that's the only reason I posted after such a long time to assist people and share what I know. You can see on Nickie Hunt-Masons LI comments from her staff and customers her reputation. My source again tells me all sales team are on furlough yet you can see for yourselves actively posting on LI and summons to daily calls to see progress made, desperate times and highly illegal. Hope they get found out! Thanks times.

[6jacko] 05/5/2020 18:36

According to source, new guy was introduced at management meeting to Sean & Nickie by JW as their new boss, typical JW only thinking of himself!

[dc2] 05/5/2020 18:17

I don't think her credentials are in doubt. In fact, as I said in an earlier post, I was surprised that she did not get the board level promotion. Although, you have stated that that position isn't really what they sold it as so it makes more sense now.

[6jacko] 05/5/2020 18:14

I don't know Nickie personally but my contact says she was the best sales director they ever had who bought many Masternaut contracts to Trak and built the whole sales team from scratch . Insurance and channel is where Trak are focussing on cash upfront deals. Fleet starting to suffer as they have to use finance houses or charge upfront hence the loss in sales people to cut costs. Recent cuts take £300k out salaries

[dc2] 05/5/2020 17:52

Blonde, the apparent abrupt nature of her departure certainly raises difficult questions. According to 6jacko they have stopped SaaS so they are toast based on your estimates (which I think are probably right).

As for the LinkedIn comment - you can read that as you like - either a dig or a serious aspiration. I see you forgot her other quote

"Started almost with a complete blank canvas and now proud of the performing team I’ve built, I know they will go on from strength to strength"

[6jacko] 05/5/2020 17:40

My source is not a board member just an old friend who I trust dearly been shafted on his commission with no other agenda and info is widely available within Trak sales team. Do what you like with the info.

[dc2] 05/5/2020 17:35

KBYN, I think we are being played here..... member of sales team knows board level information, SaaS company which has stopped doing SaaS (although their web site still talks about subscriptions) and accusations of misuse of furlough scheme. Not to mention a bit of insider trading ;o)

[6jacko] 05/5/2020 15:35

Your choice. Ive finally offloaded mine. Think I've heard enough

[knowbodyyouno] 05/5/2020 15:28

Well I appreciate your candidness. Forgive me if I don't unload my entire holding off the back of your posts (whether true or not).

This however is worthy of some attention:

"all furloughed staff are still been told they must work"

This is a very serious accusation, which if true would be fraudulent/illegal.

[6jacko] 05/5/2020 15:12

I don't believe furlough was offered but all furloughed staff are still been told they must work

[6jacko] 05/5/2020 15:11

Firstly not silent just changed profile. Good authority from a close friend who works at Trak. Nickie, Sean Morris and other sales people gone. New guy is in fact not a sales and marketing director he's a business turn around consultant and JW's last attempt at keeping afloat. Cash a major issue so no rental deals only purchases. Churn high due to tech failing especially Rh600 so sales team bogged down with customer complaints and cancellations.

[dc2] 05/5/2020 14:43

6jacko, I read your post as a group of people left a company during an unprecedented crisis in the world. Some, like Nickie, did so without having a job to go to (according to her LinkedIn Profile) and did this in favour of being furloughed. Must be some pretty serious reason to do that even if you hate the company (Dave, yes - sinking ship and all).

I read that sales people were concerned with support roles - I have heard of sales people which sell things that aren't physically possible without any concern for down the line.

I read that given a 20% churn that the sales team are busy and successful even if Trakm8 can't keep the sales - this is evidenced by Trakm8's revenue remaining roughly the same.

However, I accept I may be wrong. Perhaps the appointment of a group sales and marketing director was done to address those very concerns you point out. Although, I think it is more likely that this appointment ruffled a few feathers.

As for the cash flow - no disagreement there - hence the share price.

[knowbodyyouno] 05/5/2020 14:09

Well you didn't remain silent for long, given that you only joined today...

Seems more than a little odd to cut salaries, or indeed lay off people in the middle of this furlough period. Unless of course there were other reasons.
Basically what you're saying implies she and the others were sacked, which again brings us back to the horse/water comment. The ByMiles / AA reviews, recent upgrades, new insurance contracts / large insurance and SB rollouts and fleet renewals, paint something of a different picture regarding customers and growth. However, like most lenses, when superimposed over facts, it's a matter of perspective regarding what one sees/interprets.

Not really sure how much further on we are after your sudden[?] burst of altruism. Over to you Dave...

Or perhaps you're already holding the mic.

[6jacko] 05/5/2020 13:19

Remained silent on here but must post. Sold off shares yesterday as a result of Nickie Hunt-Masons departure. I have a good friend in Traks sales team who tells me Nickie and other people left yesterday as Trak can't support enterprise customers and growth. Churn over 20% and can't fix it due to poor tech and customers cancelling in droves. Severe cash flow problems so cut £300k of salaries

[knowbodyyouno] 05/5/2020 11:30

Not a particularly shattering, or indeed unexpected, revelation there Dave. The link between new car sales and Trak's customer base is pretty tenuous. Where the link is strongest would be with fleet, which happens (according to the article) to be where most sales are now likely concentrated. Yes there will be a knock on effect with used car sales and the industry itself is suffering greatly. But things will get going again, pretty quickly and with, one would expect, a lot of incentivisation.

[dave2608] 05/5/2020 11:12

April's car sales plunge 97% from same month last year.

[knowbodyyouno] 05/5/2020 09:03

We may never know.
Could be a variety of flavoured waters - not all would be destined to taste good. However, the suspect decision-making qualities of JFW and Co are well-known, so my own view is it's not a particularly good omen. What's needed right now is a steady ship and departures from the helm during a storm are not generally a good thing, IMO. Time will tell.

[dave2608] 05/5/2020 08:21

She's dangled a right teaser.

If the horse in this analogy is the BOD then what is the water that they're not drinking? Answers on a postcard.......

[knowbodyyouno] 05/5/2020 07:57

Maybe there was a clash with the new group sales / marketing director.
She was very experienced (from her profile) and certainly had secured a number of new fleet contracts. Some of her team may follow her out of the door, in time.

Sounds like (if you read into her horse to water comment) whatever she had planned wasn't a trajectory the BOD wanted to follow. That could be good or bad news depending, of course, on what her ideas were.
She may even have been the seller yesterday!

Second departure in a month or so... - not a good look, in my opinion.
And we definitely don't need more Watkins Cowley consolidation right now.

[epsomsalts1] 05/5/2020 07:54

The answer to the question why leaving was "You can lead a horse to water but you can’t make it drink!"....