I took up my allotment but I'm more miffed at the fact that my bank (Kiwibank) charged me $5 for a new Direct Debit authority when Linkmarket Services took the money out.
Printable View
I took up my allotment but I'm more miffed at the fact that my bank (Kiwibank) charged me $5 for a new Direct Debit authority when Linkmarket Services took the money out.
I will be joining you today, putting a few shekels in the Heartland kitty, as we 'get one back on the Aussies' by taking over one of their banks. I am actually feeling surprisingly good about it. It is something to do with the share price discounting down to a buck, I think, and the realisation that I am now underwater with my investment in Heartland. So rather than bolstering my investment , it feels more like giving to a charity to help out the poor - in this case me!
I am also feeling a bit of nostalgia, thinking back to the day that when you applied for shares in a cash issue, you actually got a shiny new share certificate in the mail. These days, you just log into your share registry account and see a whole lot of numbers, with one of the entries showing an uptick in shares held, being representative of the cash issue you have just supported. Nice, but it just isn't the same :(.
So I got to thinking. With Jeff having announced his retirement, and this cash issue act being the final piece in the Aussie expansion project, I think we shareholders that are supporting this cash issue deserve a badge. Nothing too flashy mind you, Just something we could pin to the lapel of our jacket. The face of the badge would contain a simple slogan:
" 'On ya Jeff"
Short for: "Good on you Jeff". It would be a fitting send off for the man who stewarded through the process of combining the rag tag of finance companies, building societies and money clubs, into the Heartland bank we know today. And then as we shareholders walked around the town we could give each other a nod and a wink, knowing that we were part of the 'team Heartland' that has "done good."
Of course, I realise that not all shareholders have been happy about the way this capital raising has been carried out in particular, and the way small shareholders are being diluted at a discounted price in favour of the big institutions. So here is where the cleverness of my proposed slogan comes in.
" 'On ya Jeff" could also stand for "It's all on you Jeff". You were the one who discounted our share equity away, while giving that discounted deal to the big boys. So it is your fault: "It is all on you Jeff, you ratbag."
So you see the slogan " 'On ya Jeff" satisfies both camps. Those who are happy with Jeff getting one back for the kiwis taking over an Australian bank. And those that are angry about the financial shenanigans and hoops the small shareholders had to jump through to get there. But in the end, we could all unite together under a single slogan and be happy! What do you think? Anyone game to put this 'badge idea' forward as a special resolution to the board ;)?
SNOOPY
On Ya Jeff could also, decades from now, be slang for epic failure equal to homelessness?
Should be
kei runga koe jeff
One of the sheet shares of the year... anyone wants my allotment?
Or it can be 'oh ya Jeff, fuk U..thanks for destroying the Sp'
Give Jeff his due - he realises he has taken Heartland as far as his skill set, experience and energy level can take the group to.
It takes a big & courageous person with strong inner self-confidence and deep conviction to hand the reins of a company he has largely built to another person.
Another person who he hopes can now take HGH to the next decade of growth and increased profitability. I suspect an Australian will take up that role given that Australia is where HGH sees its best growth potential at this stage.
I have my reservations about any NZ company going over to Australia as far too many good NZ companies went over and got their backsides kicked all the way back to NZ, requiring their NZ shareholders to suffer horrendous losses. Unfortunately the NZ companies without proper appreciations of what they face in Australia (big fish from small pond becomes small fish in big pond) and how rough the Aussie companies play.
There are success stories too for sure - Nufarm, A2M, Serko, Hallensteins, Michael Hill, Xero, Smart Pay to name a few but far too many (Telecom, Air NZ, Warehouse, FBU and SKC - which have lost billions of dollars for shareholders, but of greater concern to HGH, financial players like Tower, BNZ, NZI, Equiticorp, Chase which went over and went broke.
So here’s hoping that HGH has done its homework and assessment well and will have a new CEO who will execute its Australian strategy well while keeping NZ safe and profitable.
Balance, hope you're joking about an Aussie leading the group?? Kiwis end up leading the big aussie banks often enough. Perhaps because kiwi banks are more profitable. Maybe kiwis are just better bankers than the aussies? Chris Flood would be the obvious choice. Looks like a well orchestrated succession plan to me. Chris leading NZ, then leading Aus & now will lead the group.
I dont really see the risk in moving into aussie. They are already there and making truck loads of money. Now they are there with a bank license and will make even more money through great NIM. No doubt they will soon be offering asset finance to completement the reverse mortgages and livestock stuff. This is what they know well and do better than everyone else.
Im not a holder but hope to be around $1 (or under :ohmy:)
Mena ka iti ake te wa mo te Maori me te kanorau me te nui ake o te whakahaere i te pakihi katahi ka pai ake te mahi kararehe. mahi kararehe ****
Only Ralph Norris (ASB to NAB) comes to mind? Shayne Elliot (ANZ) has been out of NZ for the last 30 years after he finished his cadetship at Citibank NZ.
As for HGH making truck loads of money in Australia, how did you quantify that vs its use of capital?
We all want HGH to do well in Australia (be bloody nice for a change) but let's not understate the risks in going there.
Lucky I didn't post this earlier today, when I would have said $1.06 was improbable, and under $1.00 impossible. But surely it must have a floor just now pending the retail entitlement offer closing on Monday?
It doesn't make sense to me to sell at these prices. I have subscribed this week under two hats, including for around 20%+ additional shares if these do become available, as some % inevitably will and perhaps more so since the head shares have drifted so low just now.
Patience is what is needed. In 6 months it will almost certainly look different.
Given the price action after the last raise I will be dissapointed if it stays over a dollar.
Anyone used Judo Bank in Aus, is this what HGH want to turn Challenger Bank into?
Participated and opted for more. That's it. That's the post/reply.
Lot's of passion around Jeff , both positive and negative. When we get our ' 'On ya Jeff' badges, could I make a suggestion? Those who are happy with Jeff's stewardship, please wear them on the right side of your lapel. But if you think Jeff is a share price destroying rogue, wear your badge on your left lapel. That way, when the team shareholder photograph is taken, we can count up the badges on the right side, compare that total to the number of badges on the left side, and get a 'shareholder vote' on Jeff's time at the top. It will be our little shareholder secret of course. Jeff will never know the result. But it will be a good indication of shareholder mood nevertheless.
I have had a really fraught time completing my capital raising application form on line today. I ended up cursing the fintech foibles of a demonstratively inadequate and demonically coded on line application process. Firstly there were not enough boxes in the bank account name field to hold my bank account name. Then there was some kind of problem right at the end when the form seemingly would not accept my e-mail address.
I rang up Link securities, and they told me to 'fudge my name' by writing it in a shortened form. It will be interesting to see if that gets through the bank payment process. Then the problem at the end where I had to check the highlighted box (the asterisk was alongside the e-mail address box which is why I thought it was the problem) was actually an invisible white box on a white background at the bottom of this last page of the application that I could not see! What a numbskull piece of design, which ended up making me go through the application process four times before I got it right!
Late this afternoon I transferred my ' 'On ya Jeff' badge from my right lapel to my left side.......
SNOOPY