In Standard's case the company not only completely died but its unlucky - or unwise - shareholders had to cough up another 10shillings per share uncalled capital. Watching that happen put me off partly-paid shares completely!
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Sort of unhappy that I did buy some of these in March :crying: :crying: :crying:
There is not a lot of cheer anywhere in the announcement today.
AND that is without assuming that the IT systems that the say is now deemed a load of rubbish (they used different phraseology) includes the one built for them back in 2000 and which I was involved in.
Best Wishes
Paper Tiger
So 641 Christchurch claims remain outstanding - 5 years on
Not entirely TWR fault the delays (some over cap ones been shunted on to them) but an indictment on the whole industry. Shame on them all.
Almost criminal but then again its probably a case where the longer it takes the better off shareholders are.
Some interesting comment about what CHch really cost Tower in the last half ....with the suggestion more carnage to come (something to affectvall insurers)
http://www.interest.co.nz/opinion/81...epair-marathon
The CEO on thecradi this morning didn't sound too convincing about the future. He used the phrase 'continue to' do this and that ....but stopped short of saying continuing to disappoint.
The guy from Macquaries said any chance of a takeover was pretty slim.
Can anyone perhaps guide me as to why NAB became a SSH in TWR recently? i would've assumed they have enough analyst power to point out the headwinds they're facing?