SUM - Summerset Group

[couta1]

Something new I learnt yesterday was that Sum give $780 worth of shares to all employees(Yes Percy that includes cleaners) which they own outright after 3 years of employment, nice touch. PS-Percy ,the Union was out to highjack the meeting which SUM of us managed to put a stop to from the floor.

[percy]

Something new I learnt yesterday was that Sum give $780 worth of shares to all employees(Yes Percy that includes cleaners) which they own outright after 3 years of employment, nice touch. PS-Percy ,the Union was out to highjack the meeting which SUM of us managed to put a stop to from the floor.

Thanks Iceman and Couta1.
Sounds to me the Union overstepped the mark.
Not a good idea.

[Beagle]

You did a great job of speaking up and pulling the Union rep(s) into line mate. Well done. A real pleasure catching up with you, Iceman and others.

[Bjauck]

Something new I learnt yesterday was that Sum give $780 worth of shares to all employees(Yes Percy that includes cleaners) which they own outright after 3 years of employment, nice touch. PS-Percy ,the Union was out to highjack the meeting which SUM of us managed to put a stop to from the floor.

A nice touch. I think it would be a good idea for more NZ companies to provide share ownership schemes for all employees. It would help align interests. I think German-style co-detemination with union representatives on company boards could have its advantages too - to help get rid of the old "us" and "them" .

Summerset benefits for staff: https://www.summerset.co.nz/careers/...rset-benefits/

[forest]

Something new I learnt yesterday was that Sum give $780 worth of shares to all employees(Yes Percy that includes cleaners) which they own outright after 3 years of employment, nice touch. PS-Percy ,the Union was out to highjack the meeting which SUM of us managed to put a stop to from the floor.

Hi couta, thanks for that info I was not aware of this. Do you know If those are new shares (dilluting) or that the company buys shares on market for this purpose?

[couta1]

Hi couta, thanks for that info I was not aware of this. Do you know If those are new shares (dilluting) or that the company buys shares on market for this purpose?

Diluting as far as I'm aware as Rob Campbell did mention that the scheme comes at a cost to shareholders.

[NZSilver]

Plenty of uncertainty around this issue at the moment!

[artemis]

Good equal pay article here by Eric Crampton on some of the complexities of choosing comparison groups and thereby setting prices. He discusses a somewhat similar arrangement in Canada in the 1980s - interesting but not a shining example it is fair to say.

'Value and price do not derive simply from the skill involved in some type of labour, or from the working conditions, or from inherent responsibilities. What matters instead is how much consumers value another bit of the final product or service, and how many people are willing to provide the labour to supply it.'

https://nzinitiative.org.nz/insights...-really-worth/

[Beagle]

Percy they read out results from a customer satisfaction survey at the meeting with 94% of respondents being satisfied. I thought that was impressive

As you've suggested mate the caliber of the board is very impressive. They seem determined to provide a top quality living environment for their residents, a fine example of which is their new initiative with market leading quality living arrangements for dementia patients. Makes this a feel good investment as far as I'm concerned.

The company makes no money from the day to day operation of its villages, something all stakeholders including employees need to be cognisant of.

[couta1]

Hey Roger, still plenty of cheap shares on offer. Disc-Still accumulating.