The tragedy of Tuskys: How illiterate ghaseers brought down a retail giant

#1
You dedicate your entire life to building a business so you can leave a positive legacy, only for your brats to destroy everything before your body rots. When Joram Kamau died in 2002, Tuskys had only 8 branches. The foolish children then embarked on a crazy expansion spree for whatever reason. They used to paint one Yusuf Mugweru as a black sheep, kumbe he was right all along about the massive irregularities taking place. Interestingly, of Tuskys' 40 to 50 branches, only 20 were profitable. The rest were draining precious resources from well-performing outlets.
Meanwhile, Naivas opened its 69th store less than a week ago and they don't look like they're slowing down any time soon.


 

MikeOck

Village Elder
#4
Most people who go from poverty to riches understandably want their children to never experience the lack that they experienced. Unfortunately, this usually gets overdone, turning the children into spoilt bonobo brats. Jamaa anapewa every single material desire without ever having earned it. In the case of Tuskys, all these family members were also given positions in a big company just by virtue of being of the right bloodline.

Wadau, the lesson from this is that even if you omoka to Dangote levels, always make sure your kids learn that they have to earn things in life through hard work. If you keep showering them with gifts, experiences and jobs that they didn't earn, you will simply end up with spoilt bonobo brats who will destroy everything you built in a very short time.
 

HABILIS

Village Elder
#6
Most people who go from poverty to riches understandably want their children to never experience the lack that they experienced. Unfortunately, this usually gets overdone, turning the children into spoilt bonobo brats. Jamaa anapewa every single material desire without ever having earned it. In the case of Tuskys, all these family members were also given positions in a big company just by virtue of being of the right bloodline.

Wadau, the lesson from this is that even if you omoka to Dangote levels, always make sure your kids learn that they have to earn things in life through hard work. If you keep showering them with gifts, experiences and jobs that they didn't earn, you will simply end up with spoilt bonobo brats who will destroy everything you built in a very short time.
Good example is Jicho nyanya, his mother could not even entrust him to run a cattle shed, yet he has this country resources at his disposal. Look at how things have played out.
 

Teddy_time

Village Elder
#7
Family businesses run by several siblings who have inherited it is a recipe for disaster. These end up never succeeding and Kenya is littered with it. Talk of the Koinanges, Karumes, kirimas etc. And this phenomenon is not just in Kenya. its common the world over.

I give credit though to the Kenyattas for not splitting up but this may be mostly due to mama ngina and the fact that Moi was with them and protected them when he came to power.

Also, in Mois case, he had already left most of his assets to Gideon even when alive. But even then, there was infighting between Gideon and the older bro on who would be the family spokesman.
 
#9
Family businesses run by several siblings who have inherited it is a recipe for disaster. These end up never succeeding and Kenya is littered with it. Talk of the Koinanges, Karumes, kirimas etc. And this phenomenon is not just in Kenya. its common the world over.

I give credit though to the Kenyattas for not splitting up but this may be mostly due to mama ngina and the fact that Moi was with them and protected them when he came to power.

Also, in Mois case, he had already left most of his assets to Gideon even when alive. But even then, there was infighting between Gideon and the older bro on who would be the family spokesman.
Hapo kwa Mama Ngina na Mois, the storm is warming up. Once the matriach goes then it's open season. It's very hard for other family members to sit idly and watch as others continue enjoying largely ill gotten wealth. You know we stole together as a family but some guys are "eating" more than others. Moi too passed early this year. Ata kama Gideon controls most of it, it will be hard for the older siblings (and their children) to watch him feasting on most of the wealth. Pengine if he uses his friendship with Uhuru and connections in government to intimidate them, but the good times are still not guaranteed if someone like Ruto takes over.
 
#10
2002? f**k then they did a good job managing the company till a decade later when all started falling apart. Or what am I missing??
If their father successfully ran the business for two decades through the most challenging periods and it only took them a decade to undo everything he'd done, then they didn't do a good job, did they? The next generation is supposed to take a company to greater heights.
 

Eng'iti

Village Sponsor
#12
Hapo kwa Mama Ngina na Mois, the storm is warming up. Once the matriach goes then it's open season. It's very hard for other family members to sit idly and watch as others continue enjoying largely ill gotten wealth. You know we stole together as a family but some guys are "eating" more than others. Moi too passed early this year. Ata kama Gideon controls most of it, it will be hard for the older siblings (and their children) to watch him feasting on most of the wealth. Pengine if he uses his friendship with Uhuru and connections in government to intimidate them, but the good times are still not guaranteed if someone like Ruto takes over.
I'd feel so fücking happy to see hyenas feast it. How i wish am on that table
 

Jimit

Gargantuan
#14
If their father successfully ran the business for two decades through the most challenging periods and it only took them a decade to undo everything he'd done, then they didn't do a good job, did they? The next generation is supposed to take a company to greater heights.
They did well moving tuskys from a backstreet supermarket to a >60 branch giant. That alone is success.
 

T.Vercetti

Village Sponsor
#15
Muombe lessons kutoka kwa wahindi otherwise mali yenu yote itakua ya mchwa as soon as you close your eyelids.... And ohh the smart arses thinking trust funds... Your trust fund manager is already plotting before you are planted in the ground
Ati wahindi?
Nakumatt kaput.

Chandaria in 6 billion consolidated debt.

Not to forget the Indian mbirrionea mzee on citizen tv who said his relatives were trying to kill him.

Another one had his car collection auctioned. Etc
 

imei2012

Village Sponsor
#17
Ati wahindi?
Nakumatt kaput.

Chandaria in 6 billion consolidated debt.

Not to forget the Indian mbirrionea mzee on citizen tv who said his relatives were trying to kill him.

Another one had his car collection auctioned. Etc
Am talking about legitimate indian businesses you find in down town wachana na atul yeye alikubali kutumiwa kama laundromat na venye rick ross alipull capital shah akabaki mataani!
 

imei2012

Village Sponsor
#18
I'd feel so fücking happy to see hyenas feast it. How i wish am on that table
Unfortunately mahali iko haiweskani.... They can fund kenyan budget out of pocket for two consecutive years na pocket change ibaki... That kind of mullah just doesn't vanish overnight. In short the matriach is almost pulling off state capture and silly bbi minions wont even know what hit them
 
#19
They can fund kenyan budget out of pocket for two consecutive years na pocket change ibaki
Hapa umeongeza aromat gorogoro mzima mdau. Budget ya Kenya for 2019/2020 was 3 trillion shillings, about 26 billion dollars. Your statement implies they're worth over 50 billion dollars. I don't care how much they've stolen, they can't be worth that much. Even Nigerian dictators never amassed such wealth when they were in control of massive oil revenues.
 

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