Whittaker's VS Cadbury TV advert

Further to some commentary about my favourite food on my Share Investor Blog and earlier on here, comes a fantastic TV Ad from Whittakers that takes the piss out of Cadbury chocolate.

There have been supposed "taste tests" between the two products, with Cadbury winning most but sales figures for both companies are what really counts and Whittaker's sales are up and Cadbury's are down(where they deserve to be because their chocolate now tastes like sugar with cocoa power in it.)

There have been complaints laid about the ad (Cadbury being one of them) so cop a look before the purple lot get it removed.

It is a classic and sure beats the twitching eyebrows that Cadbury bring to the table.

Related Amazon Reading

International Advertising: Realities and Myths
Buy new: $67.95 / Used from: $2.65
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c Political Animal 2009

Share Investor Portfolio: 10 July 2009

The Share Investor Portfolio now contains 17 stocks listed on the NZSX. The bulk of the portfolio started back in 2002 and I have added to the bulk of it by using dividends and some cash.

Since May 22 approx NZ $7000 was added due to 3 capital raisings. (1 2 3) Fletcher Building Ltd [FBU.NZ] has added 114 shares | Freightways Ltd [FRE.NZ] 431 shares | Sky City Entertainment Group [SKC.NZ] 1915 shares.

Since the June 15 update a further $7000 was added with the addition of more shares.

Added 7000 Michael Hill International [MHI.NZ] shares and 2000 Auckland International Airport [AIA.NZ] shares.


The Share Investor Portfolio as at 10 July 2009

• Auckland International Airport [AIA] 5000
  
• ASB Capital NO. 2 Ltd [ASBPB] 10000
• Briscoe Group Ltd [BGR] 3000
• Fletcher Building Ltd [FBU] 1114
• Fisher & Paykel Healthcare Corp Ltd [FPH] 5000
• Freightways Ltd [FRE] 8631
• Goodman Fielder Ltd [GFF] 2000
  
• Halleinstein Glasson Ltd [HLG] 1000
• Kiwi Income Property Trust [KIP] 1000
• Mainfreight Ltd [MFT] 3125
• Michael Hill International Ltd [MHI] 10000
• Postie Plus Ltd [PPG] 2535
  
• Pumpkin Patch Ltd [PPL] 5000
• Ryman Healthcare Ltd [RYM] 5000
• Sky City Entertainment [SKC] 36915
• Steel & Tube Holdings Ltd [STU] 400
• The Warehouse Group Ltd [WHS] 8000

Previous Portfolio Updates

Share Investor Portfolio: June 15 2009
Share Investor Portfolio: May 22 2009

Related Share Investor Reading: Why did you buy that stock?

Why did you buy that stock? [Fletcher Building Ltd]
Why did you buy that stock? [Freightways Ltd]
Why did you buy that stock? [Kiwi Income Property Trust]
Why did you buy that stock? [Hallenstein Glasson]
Why did you buy that stock? [Briscoe Group]
Why did you buy that stock? [Fisher & Paykel Healthcare]
Why did you buy that stock? [Pumpkin Patch Ltd]
Why did you buy that stock? [Ryman Healthcare]
Why did you buy that stock? [Michael Hill International]
Why did you buy that stock? [Mainfreight Ltd]
Why did you buy that stock? [The Warehouse Group]
Why did you buy that stock? [Goodman Fielder]
Why did you buy that stock? [Auckland Airport]
Why did you buy that stock? [Sky City Entertainment]


Discuss this topic @ Share Investor Forum

Related Amazon Reading


The Warren Buffett Portfolio: Mastering the Power of the Focus Investment Strategy by Robert G. Hagstrom
Buy new: $13.57 / Used from: $1.57
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c Share Investor 2002-2009

Kathmandu IPO: A tough Mountain to Climb

Buy a good company for top dollar a few years back, load it up with debt and try to flog it off in an IPO when the market the company operates in is crashing faster than a cheap hooker can get her knickers off, is your next thought where can I sign up?

There has been talk about an IPO for the outdoor retail chain Kathmandu over the last few days and various figures have been thrown around, including one reported in Stuff.co.nz from the Australian Financial Review (where this rumour was first reported) that puts the asking price at between $NZ 500-600 million dollars.

Considering that the company was sold off by founder Jan Cameron and other partners in 2006 for just over $NZ $500 million at the peak of its then earning power, in a retail market that was on fire, the rumoured asking price is way over the top especially when one considers these key points:

1. The dire condition of retail worldwide

2. Debt levels of $187 million VS assets of $331 million to July 2008

3. Profit down from $13.7 million to just under $9 million to July 2008

4. Interest costs for the year to July were $20.9 million, up from $18.2 million the year before.

5. A retail scene that is unlikely to recover soon.

These figures are a full year old and come before the massive decline in retail worldwide so we could assume that the company is now on the bones of its arse profit wise, with even more debt and almost twice the overheads the company had back in 2006 because store numbers have almost doubled.

One big drawback is that the company possibly selling Kathmandu, Goldman Sachs and Quadrant Private Equity, is missing one vital key to the retailer's success, Jan Cameron herself.

Jan got out of her company at the right time, for a great price and has used the proceeds of that sale to buy beaten down retail stocks like Pumpkin Patch Ltd [PPL.NZ], Postie Plus Group [PPG.NZ] and kick off a number of brand new start up retailers like her Nood Homewares business and Dog's Breakfast.

A good exit by Jan, and a bad possible re-entry by Kathmandu.

To be avoided.

Disclosure: I own PPG, PPL shares


Related Share Investor Reading

What is Jan Cameron up to?

Kathmandu @ Share Investor

Kathmandu IPO: What is it worth?
Kathmandu IPO: Retail Interest High
Kathmandu IPO: A tough mountain to climb
Kathmandu No.1 but IPO should get the Bullet
Download the detailed Kathmandu Value Cruncher Report - Requires free registration Share Investor Forum to download
Download Kathmandu IPO Prospectus

Discuss Kathmandu at Share Investor Forum

Related Amazon Reading


Initial Public Offerings by Richard F. Kleeburg
Buy new: $26.70 / Used from: $27.70
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c Share Investor 2009

Bryce the Banker: The Final Insult

Every good story deserves at least a trilogy, 1 2 3 and others limp on for a forth far less satisfying installment that is disappointing when compared to the original blockbuster.

This has been the case with Bryce the banker, my own personal banker at ASB Bank in Albany.

This time I called Bruce about a small loan of about $25,000.00 that I wanted to pay off early.

Easy right?

Well no it wasn't.

The upshot is that I will be charged around 500 bucks for the privilege of paying off my loan 2.5 years early.

So what is my beef this time you ask?

Well, when re-negotiating this loan almost 3 years ago I asked some specific questions and got some specific answers from those questions.

My questions were:

1. will I be able to pay off lump sums easily without incurring penalties?

2. can I pay the loan off early without getting slam-dunked with a fee?

Not a problem was the answer to both these questions.

Well apparently it is a problem now and Bryce quite chirpily pointed out that the fees and charges were in my loan document that I signed, and he is right, they are.

But Bryce I asked the pertinent questions, was answered in the affirmative, so trusted the personal banker at the time (not Bryce) that I was getting the deal I thought I was.

But Chief you should have read the fine print in the contract said Bryce.

I know, but your representative at the time told me...you get the fast revolving point and I have had all my business with you for nearly 20 years... wheres the LOVE where is the LOYALTY Bryce!

But the contract Chief, the contract ! - say it in your head with the voice of a very small Mexican with a lisp wearing a white suit and smoking a big cigar.

My point is, regardless of the contract, I was told verbally in the main points of the loan, that no costs would be incurred by me for being a diligent wee boy and paying off my loan early and I went on my merry way with my lovely loan.

Also I have paid off two large lump sums of $10,000 in the past and incurred no fees or charges.

To cut this forth installment short I am taking my bank to the banking ombudsman and the small claims court for breaking the Fair Trading Act - mis-representing a good or service for sale.

The main point of this rather disappointing sequel?

If you have a problem at your bank, don't roll over and ask to be taken from the rear, get on top and try to screw the scrum straight, you will at least feel better and you might even get a positive outcome. You can guarantee if you don't pin them to the wall they will continue to get your pants around your ankles at every opportunity.

Bryce is no longer my personal banker, I fired him for calling me Chief way too many times - once is enough, can you believe that?- and now the manager of Albany Branch is handling my accounts.

I am also looking for another bank.


Banking @ Share Investor

Banks not participating in Recession
Bank Guarantees: Time for banks to return the favour
The Return of Bryce
Banking Madness!

Discuss this topic @ Share Investor Forum



c Share Investor 2009