No chance in hell. Board already rejected $1.95. Commerce Commission will also have a say..
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No chance in hell. Board already rejected $1.95. Commerce Commission will also have a say..
Liam,
Somehow missed this reply in August but you are bang on my friend. If you're new to investing and you're thinking like this you will go far. Like you this is the only NZX company I'm interested in as well.
As we have both realised, all they need to do is carry on making a complete balls up of everything they touch for this to be a great investment particularly from August prices. Any improvements will be a bonus.
The following sums up how the issues you have identified occur all to frequently.
The management of every company has two basic roles: to run the company and to allocate the capital that it earns. The first task is obvious, but the second one is frequently overlooked by both investors and managements. Managements generally tend to be better at managing companies than allocating capital. These are two completely distinct functions and require different skill sets. A large part of top corporate managers reached their lofty positions by working their way up from lower positions or by specialising in specific fields. Therefore, these people tend to be experts in the fields within which the company does business rather than in capital allocation. It is very typical, therefore, to see managements that run companies well but allocate capital poorly.
Speaking of capital allocation STU should be buying back stock like fiends at these prices, best shareholder return they could ever hope to achieve. An infinitely better use of capital than reinstating dividends or funding another stupid acquisition.
GreekWD it's my understanding they didn't reject any offer, the offer was withdrawn.
Yeah I know, common sense really. Be stink to give shareholders a div then lay off xxx amount of staff.
[QUOTE=liam;840448]Liam,
Somehow missed this reply in August but you are bang on my friend. If you're new to investing and you're thinking like this you will go far. Like you this is the only NZX company I'm interested in as well.
As we have both realised, all they need to do is carry on making a complete balls up of everything they touch for this to be a great investment particularly from August prices. Any improvements will be a bonus.
The following sums up how the issues you have identified occur all to frequently.
The management of every company has two basic roles: to run the company and to allocate the capital that it earns. The first task is obvious, but the second one is frequently overlooked by both investors and managements. Managements generally tend to be better at managing companies than allocating capital. These are two completely distinct functions and require different skill sets. A large part of top corporate managers reached their lofty positions by working their way up from lower positions or by specialising in specific fields. Therefore, these people tend to be experts in the fields within which the company does business rather than in capital allocation. It is very typical, therefore, to see managements that run companies well but allocate capital poorly.
Speaking of capital allocation STU should be buying back stock like fiends at these prices, best shareholder return they could ever hope to achieve. An infinitely better use of capital than reinstating dividends or funding another stupid acquisition.
GreekWD it's my understanding they didn't reject any offer, the offer was withdrawn.
Board said no to earlier off then FBU increased then withdrew...
All good mate. Just hope FBU stay away and hope for shareholders sake the board can walk the talk.
https://www.nzx.com/announcements/364832
Bloody waste of space to appoint another director just because she is female imo.
This company desperately needs real industry & commercial experienced directors.
No happy.
.......she sure has some solid credentials behind her Balance. Maybe she's got bigger #alls too (when it comes to deal making) than some of the male directors so lets give her a chance. If and when the takeover remerges (will be sooner than later at these low SPs IMHO) then her commercial experience could come in very handed to negotiate a deal??
No snowball chance in hell of a takeover now that the Aussie has a 20% blocking stake.
I am happy to invest and still hold STU as a recovery play - just not happy with the PC bull-dust these days of gender neutrality at board and management level.
The current chairwoman has not done a good job, that's for sure.
......but she might be good looking too? (oops)
That new director ...and she has a good name as well
About
An experienced Board Chair, Director and Audit Committee Chair with expertise in corporate governance, business leadership, risk management, Health & Safety and business assurance. An experienced Programme/Project Board Executive. Having a portfolio of governance experience underpinned by an executive career in FTSE Top 20 businesses, yielding complex delivery expertise, strong commercial skills and proven leadership competence. Drawing on a successful track record in high value national infrastructure construction and commercial operations; procurement and delivery of Defence equipment (air, sea and land forces capital equipment and support). Combining strategic thinking, OD experience with business leadership, stakeholder and relationship management qualities . A team player, trusted and respected for sound decision-making and personal integrity, with a "can do" mentality. A professional facilitator, practised in facilitating corporate boards through to operational teams and volunteer groups.
True, but I can give you for any chairwoman who did a bad job ten chairmen who underperformed much worse. Based on this statistics - why are their still people around who think that appointing men to board positions might be a good idea? Terrible performers.
Same in many other jobs. Given that the most disgusting and filthy US president of all times is male - how could anybody ever think about picking a male for a politician? Given that Trump is a male, they all must be disgusting crooks and liars, aren't they?
I hope you realize that your argument is non sensical but very sexist.
Sure, in any job there are some people who do a very good job, some people people who do a very bad job and a lot of people who do a mediocre job. No matter whether the job entails emptying rubbish bins, sitting around board tables or running a company or a country. The sex of these people has nothing to do with the quality of the job they are doing ... so maybe just give her the benefit of the doubt, as you would give as well anybody with a member between their legs ...
And yes - the STU board underperformed for some time now. Oops - aren't they mainly men?