I almost commented yesterday on the fact that Philip Capital also stopped covering FBU FBU02.JPG
(Note graphic is using AUD)
This company's management is a problem. I have been in construction for nearly 50 years. As I observe their various work sites the lack of expertise and construction skills are obvious. They have appointed a person with no experience in the discipline as head of the division. She has a BA like the previous CEO and he also had a BA and has left with another sort of BA. It like an engineer being sent to critic the performance of a surgeon. Also who on the board has any expertise in construction? The sinecure they once had as the dominant construction company is also now gone. Vinci the largest construction company in the world, and who own HEB, March Construction and Electrix, is the JV partner with Downers on the Auckland rail system. Until managers with the required experience are appointed I would not be too optimistic. The likes of Downers, Fulton Hogan etc all have experience construction men running their operations. Invest in Fletchers if you wish but be aware of the risks posed by such.
This company's management is a problem. I have been in construction for nearly 50 years. As I observe their various work sites the lack of expertise and construction skills are obvious. They have appointed a person with no experience in the discipline as head of the division. She has a BA like the previous CEO and he also had a BA and has left with another sort of BA. It like an engineer being sent to critic the performance of a surgeon. Also who on the board has any expertise in construction? The sinecure they once had as the dominant construction company is also now gone. Vinci the largest construction company in the world, and who own HEB, March Construction and Electrix, is the JV partner with Downers on the Auckland rail system. Until managers with the required experience are appointed I would not be too optimistic. The likes of Downers, Fulton Hogan etc all have experience construction men running their operations. Invest in Fletchers if you wish but be aware of the risks posed by such.
here what ya say I reckon ever since they did away with the apprenticeship system the country has lost alot of its skill base, now we have a lot of clowns coming out of polytech.
here what ya say I reckon ever since they did away with the apprenticeship system the country has lost alot of its skill base, now we have a lot of clowns coming out of polytech.
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Originally Posted by Yoda
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