I find it highly unlikely that German workers, who have some of the highest wages, some of the strongest unions and and one of the best standards of living in the world are going to put up with being housed in a container.
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I find it highly unlikely that German workers, who have some of the highest wages, some of the strongest unions and and one of the best standards of living in the world are going to put up with being housed in a container.
Ah, but it wasn't an ordinary 20 foot container [one teu]. It was one of the larger 40 foot boxes [two teus]. Quite teutonic enough for the Germans.
And it didn't look too bad on the tv3 news tonight either...
I think the union guy may be over-reacting to suggest that it could lower the standards to NZ port workers.
Actually rmbbrave, they weren't actually Germans - they were Lithuanians.Quote:
quote: Originally posted by rmbbrave
I find it highly unlikely that German workers, who have some of the highest wages, some of the strongest unions and and one of the best standards of living in the world are going to put up with being housed in a container.
If not high enough quality digs, then could always chuck on a ship down to Dunners, and use for scarfie accommodation.
Think most Dun-Vegas slumlords were looking at those things enviously, thinking they could fit 4-6 bedrooms in each, and then charge $90 a week. Stack 2 or 3 high, sturdy, hard-wearing, low maintenence etc etc :D[:p]
On the news tonight, the "houses" have been relocated, but the workers may now loose their jobs and face deportation...
Life is tough for some.
There you go. I knew Germans wouldn't put up with this excrement.Quote:
quote:Originally posted by Sideshow Bob
Actually rmbbrave, they weren't actually Germans - they were Lithuanians.Quote:
quote: Originally posted by rmbbrave
I find it highly unlikely that German workers, who have some of the highest wages, some of the strongest unions and and one of the best standards of living in the world are going to put up with being housed in a container.
If not high enough quality digs, then could always chuck on a ship down to Dunners, and use for scarfie accommodation.
Think most Dun-Vegas slumlords were looking at those things enviously, thinking they could fit 4-6 bedrooms in each, and then charge $90 a week. Stack 2 or 3 high, sturdy, hard-wearing, low maintenence etc etc :D[:p]
The problem is these guys were in ChCh on visitors permits, not work ones so unions have scored one here!
Agreement reached with union for the next three years appears to be mundane news. Have topped up more on this 'defensive stock'
Have considered topping up on this one myself, but so far I have resisted. The 'value chart' below might explain why.Quote:
quote:Originally posted by foodee
Agreement reached with union for the next three years appears to be mundane news. Have topped up more on this 'defensive stock'
http://img.villagephotos.com/p/2005-...40405.gif'
For those who haven't seemn this kind of chart before it is very simple. If the share price is below the value line then you buy. If the share price is above you don't buy. It works best on a share that pays out all of its earnings as dividends. That is the history of LPC. If a share pays out all of its earnings as dividends that means you can think of it as a kind of 'perpetual bond' with the dividends being equivalent to the 'bond interest paid'.
A bond is issued with some headline interest rate. For a small utility like LPC I think a return of 9.5% is appropriate for the risk involved. That corresponds to a share price of $1.73, which is what I term 'fair value' for Lyttelton Port Company shares.
Personally I require a better deal than 'fair value' for this kind of share investment. I always like to buy at 'below fair value' and for me an expected annual return of 12% is sufficient to get me interested. This is where the second (12%) value line comes in.
As you can see, the share price is currently floating above the 12% value line. I wouldn't say this is expensive. If I wanted to set up a balanced income portfolio I would certainly buy LPC at these levels.
However, I already have my base portfolio set up, so I want to find the the best bargain of the month. Telecom was just that much cheaper, so that was where my money went.
SNOOPY
discl: hold LPC
Snoopy
Appreciated your post-most helpful. TEL did come into consideration but its weight in our portfolio was a tad too high. All said our holding price in LPC is still below 1.70.
Have a good week one and all