London, 12 January 2020 (ROYF)

Shares in the British Royal Family (ROYF) (#changenothing #ginandtonic #neigh) were down in Friday trading on news of management dissatisfaction in its new US acquisition.

It’s a familiar story of an established organisation seeking change and new talent through the acquisition of a successful small entrepreneurial business, that is then smothered by traditional management. There were particular problems around dress style (jeans and pantyhose), secrecy, alleged excessive use of private jets and remuneration.

This is not the first time that North America has caused problems. Unhappiness over unfair cost allocations led to the loss of a large and successful North American business in the late 1770s.

There was a halfhearted attempt to come back into the US market in 1812 – but nothing special I else until this small bolt on acquisition in 2018.

The Chairman is pressing for a quick resolution. Details are vague – but a joint venture with greater management autonomy, a separate Californian HQ and limited parent company funding seems to be the most likely model.

What this means for “senior” management is unclear. Although previous miscalculations in the business have led to heads rolling. While this mostly affected female assistants, on one occasion the Chairman was separated.

The market will be updated on Wednesday.