Final Word from Wednesday, August 6, 2003

How is it possible that Václav Fischer has gone so quickly from being an admired entrepreneur to a deadbeat debtor? Part of the fault is no doubt his. By all accounts, he doesn't like to delegate, has neglected financial management, and doesn't know how to operate in the Wild East. There are signs, though, that he's been also the victim of a hostile takeover attempt. KB Komerční banka, ČSA and ČSL appear to be acting in concert with someone who wants him gone. We'll know who it is (Čedok, Penta, PPF?) after all is said and done. In the meantime, the "barbarians at the gate" are getting a helping hand from the media and the public. Fischer until recently was one of the most successful homegrown entrepreneurs. He didn't steal, he provided a fine service, and he gave the CR a good name. It's sad to see so many people take the side of the vultures who are trying to devour him.


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FS Final Word