Bet ya the seats, steering wheel and cup holders aren't heated either...hmmm...
Like anything you get what you pay for...why travel economy when you don't need too ?
Near the end of note 14 in AR2017, Turners have this to say:
"The group retains substantially all of the risks and rewards relating to the finance receivables sold and therefore the finance receivables do not qualify for derecognition and remain on the groups consolidated statement of financial position."
If Turners ultimately retain all the risk, then there is no reason to offer a discount to those buying the repackaged loans. So my guess is the amount of discount offered to the BNZ who are securitizing the loans for "on sale" is - none!
SNOOPY
Boomer of a day on the NZX
Most things seem to be up except TRA (and PEB)
Maybe the market is laughing at me for buying TRA
I got my snout into some more this morning @ $2.96....why look a gift horse in the mouth ? The other thing that I really like about this one is I think about all the fat margins I've paid to car dealers over the years with vehicle deals I've done. Its so remarkably refreshing to be on the other side of the ledger !! Steadily working my way up towards Percy's end of the tent :)