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Sunday, April 17, 2016

Was Nigel Morrison Pushed?

Some more rumour and speculation.

But isn't there just an ounce of rumour and speculation to everything?

Last weeks news that Sky City CEO Nigel Morrison will step down at the end of this month has me wondering a number of things.

Morrison didn't get to his stated aim of $10 per share by the time he leaves.

No doubt about it Nigel has been good for Sky City.

He has been handsomely - and justly in my opinion - rewarded with salaries and incentives circa $22,000,000,00 in his time at the helm.

Yet I think - and this is where i'm speculating - when he made it clear that he was thinking of leaving about 6 months ago he actually was beginning the process of bargaining until maybe 2020-21 where he could actually see the fruits of his labour pay off.

What I cant make out though is why he wasn't given a better offer that allowed him to stay.

What is fact is that Chris Moller in 2008 who came in as chairman, was a supporter of Morrison but not all of the companies directors and heads of depts were backers of this man getting a raise.

In fact it was talked about, in private around 6 months ago just about how much Mr Morrison was worth.

Just what has been divulged to Share Investor is that negotiations HAD BEGUN but what wasn't clear was just who put the kybosh on it.

I suppose it just goes to show there is jealousy even at the top. This fellow does well grows the company to the verge of a massive change yet is dumped.

Perhaps he was better to get out in the end.

Hope is replacement lives up to him.

Toughen Up: What I've Learned About Surviving Tough Times by Michael Hill c Share Investor 2016

Toughen Up: What I've Learned About Surviving Tough Times by Michael Hill

c Share Investor 2016

Wednesday, March 23, 2016

Hallensteins Glasson: Sold By Days End?

The time of the profit release has been delayed about 6 hours till the end of the trading day.

What does the timing of today's release mean for you and me investor?

It could be a number of things.

I can only go into two here.

It could be that the accountants have not got their shite together and havent crossed their I's and dotted their t's.

Unlikely.

That hasn't happened in the 12 years I have been a shareholder and it not likely to happen now.

That the major shareholders the descendants of the Hallenstein family and Tim Glasson and et al have been offered a shite-load of money for their holdings and they haven't worked out the finalities of it yet is more likely to be the case?

Tim Glasson is a old coot with 20% shareholding in Hallensteins Glasson and like all old coots i'm sure he'd like to take some money off the table if he was offered enough and do something else with it.

What has Hallensteins Glasson's got going for it?

No debt and cash on the books and a very low share price.

Couple that with overseas companies looking for higher yields in a lower risk market.

I cant think of anything else, can you?

Except you have to buy this stock.

Hallenstein Glasson @ Share Investor

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Discuss HLG @ Share Investor Forum

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c Share Investor 2016

Sunday, March 20, 2016

Sky City: What Price if Sold Monday Morning?

With news on Friday that Sky City is rumoured to have interest from ozzie's Star City and a total of almost $45 million shares changing hands on the day - the vast proportion of it after the market closed - its seems a good reason the reassess my view on my portion of the business.

From the position I am in it seems just as CEO Nigel Morrison has got the casino on a good footing, Auckland is humming and all other businesses are doing well and all are likely to do much better for the foreseeable future.

The only backslides are the backflippers.

Thats is the two projects, the convention centre in Auckland and the expansion in Adelaide.

My only interest is the price someone should pay for my belief that one day Sky City would pay off (and further in the future) and that Morrisons skills as an accountant (dotting the Is and crossing the Ts) will continue to pay off if I choose to say NO.

Im not convinced someone can pay me what i'm getting now, 20% + PA, if I put my money elsewhere.

I think I would have to start again - depending on what price I could be offered.

I think the price would have to be significantly North of the $10 per share that Nigel said it could be back in 2009 and I don't see anyone offering any like that.

Ill just bide my time :)

Sky City Entertainment Group @ Share Investor

c Share Investor 2016

c Share Investor 2016

The Worst Customer Service I Have Ever Had: Jetstar

Image result for jetstar customer service nz

I posted the following on facebook on February 18.

I traveled to Auckland from Napier for the last 2 years 2 times a month via Air New Zealand until December to see my daughter.

I'm going back to Auckland for good in 2 weeks.

I wanted to give the incumbent some competition so bought 2 tickets in Feb for $118. Much cheaper than Air New Zealand.

BUT HERE IS THE WARNING. Do not under any circumstances buy tickets for any Jetstar flights. They will be late. In many cases, like below, not come at all.

Your not going to "like" this. I just got back to Napier after spending the night in Auckland at the International Terminal (got 2 x 8 food vouchers) because "we ran out of time and just decided not to go tonight, cause we ran out of time" (my emphasis).

I have to thank Hollie at the desk, there that she was so embarrassed she offered to PUT ME UP IN A HOTEL AT HER EXPENSE for the night - such a sweet thing to because if you know me i have had a stroke and 5 seizures and i "have" (i say this but it seems its past now) to have my meds twice a day) Hollie (i think it is Hollie) you a wonderful person,

We decided to get you all on the 3.00pm the following day (today) but get this there is a flight to Napier at 8.45am so i try to get on this i get asked to come back at 8.15am but find the plane is late, go figure, so the standbys that they usually have, they had empty seats on the plane, they don't have anymore. They have them there but it is there policy to cut you off.

To cut a long story short a wangled my way onto the plane after shouting at the top of my voice (i meant too but i simply shouldn't have to) I simply wanted to give the other guy a go (love competition)and was willing to forgive them the fact that i was one hour late GETTING TO Auckland and had a return ticket booked next week as well.

Share Investor

Sunday, April 17, 2016

Was Nigel Morrison Pushed?

Wednesday, March 23, 2016

Hallensteins Glasson: Sold By Days End?

Sunday, March 20, 2016

Sky City: What Price if Sold Monday Morning?

The Worst Customer Service I Have Ever Had: Jetstar

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