Maybe he has integrity and is deliberately sending shareholders a thinly veiled message that things are not going well in the business...just a thought.
Interesting article ... though a number of dots don't seem to line up.
If it is Uber and Lyft killing off the car market - than why would tyre sales go down? Don't Uber and Lyft cars need tyres as well? Same is true for vehicle production - as long as people chose to be transported in individual vehicles (vs. mass transport) I don't see a big impact.
They are throwing as well some political one-offs into the mix which certainly would not impact on the global car market. I.e. if car production in Europe gets more expensive due to BREXIT barriers , than this is a temporary problem, not a long term trend - or does anybody believe the European industry is not able in producing the required (and so far from Britain imported) parts themselves?
Turkey's new car registrations significantly dropping due to a incompetent autocrat crushing its economy? - Yeah, sure, but how does this impact on the world market? What about emerging nations who still look for more individual transport - they didn't show India's new car registrations which are exponentially rising: https://www.statista.com/statistics/...ions-in-india/
Only reason I can see for the world wide car market to go down is if demand goes down world wide.
But no doubt - there is a worldwide trend for people living in cities to reduce individual driving - which is amplified by a world wide trend for people to move into cities. One of our boys lives in Singapore and his family doesn't own or need a car (and it is not due to lack of money): Public transport, Grab (the new Uber there), Taxi - it is all much cheaper and more convenient than the hassle and cost of owning a car and finding a parking space.
Question is - how relevant is all of this for the New Zealand market (and this is where TRA operates)?
For starters - Singapore has 8000 inhabitants per sqkm, New Zealand only 15. I am wondering whether this could have as well implications for the individual car market?
Not sure whats currently going on with TRA - but I don't really expect the overall New Zealand individual car market to be crushed over the next handful of decades ... and none of the trends and causes highlighted in the article seems to be particularly relevant in a New Zealand context.
And apart from that - as Snoopy rightly highlighted - TRA is not really a car company, they are a finance and insurance service provider with a car business feeding these more profiatble parts of the company. It won't be Uber and Lyft killing them - only if there evolves a trend that people don't want to take out loans anymore to buy anything, than they might be in trouble ...
Even though the share price was off its highs last June it seems to have been in steady decline since
Strange last June was when the Bakery shared out its shares to its partners ...maybe the timing is just conincidence.
Along with Baker’s non attendance at the AGM it sort of signals a dysfunctional Board is operating. That’s not good
Wishing like hell that white knight rides into town to save the day
Dysfunctional Boards do not own between them 26.97% of a company.
Yes I am sure you are right that the Business Bakery share out to its partners,is one of the causes in the weakness of Turners' share price.
The Hugh Green estate sale was another.
The only way for the share price to recover is for Turners to produce ongoing good results.
I have heard Grant was invited to a special Ferrari event in Italy, combined with a trip in EU & US, which clashed with the new AGM date. Probably a fair excuse for not attending if the date was changed on him.