FBU - Fletcher Building

[bull....]

https://www.stuff.co.nz/business/ind...r-ralph-norris

agree dont think much of the new board

[minimoke]

So Norris joined the Board in 2014 when share price was around $9.20. He leaves with it around $6.83. Not bad destruction of shareholder wealth to his record. And the new people Barbara Chapman and Robert Mcdoanld have learnt off him. Doesnt inspire me I'm afraid - all a bit cosy and without expertise

[Beagle]

He was there when they went under though?

They put their hand up for Govt support, that's not going under. He wasn't the architect of the ill fated Ansett acquisition nor did anyone foresee some fanatical extremists doing Sept 11.

I like his good common sense low key approach and he'll be an asset on the board. That said FBU have a long and potentially very stormy voyage ahead of them and just because you fit slight bigger and potentially more effective rudders on the Titanic that doesn't guarantee success does it !

[horus1]

It is a disappointment that there is not a NZ director with hands on commercial experience. Does not inspire me to buy any more.

[value_investor]

Budget 2018 by the govt plans to build 6000 state houses in the next 4 years, and then we have Kiwibuild which will be into the 1000s (I think it will take the govt years to get anywhere close but they will eventually). Not bidding on any new construction projects and going all into housing on a large scale is going to be difficult to bring average costs down initially.

The pre-fabrication process has its pros and cons. The huge con being down the line and how mass producing these houses will look in years to come especially if the incentive is to build as quickly and as cheap as possible. A lot of the homes built in the early 2000s using cheap plaster and untreated timber were a result of this and I can tell you not all of them were cowboys operating.

[winner69]

As long as the new Chairman seamlessly pontificates high standards in catalysts for change Fletcher’s should be OK

And shareprice will head back to 12 bucks plus

[winner69]

Understand this is not even half of it :-)

There is

Might be better to better to pull it down and start again (with another builder)

https://www.stuff.co.nz/business/104...hotel-disaster

[troyvdh]

"fletchers should be OK"...are you taking the mickey....I have tenant who worked on the Justice building in chch...the stories he had to tell....One may "pontificate seamlessly" till the cows come home...in my opinion FB ...is and will be a monumental CF....for some time...cheers troy

[traineeinvestor]

As long as the new Chairman seamlessly pontificates high standards in catalysts for change Fletcher’s should be OK

And shareprice will head back to 12 bucks plus

Should I applaud your optimism or your sarcasm? :-)

[emveha]

This hotel construction in Christchurch airport looks like a perfect storm of incompetence, dishonesty and sheer bad luck... Now Fletcher has to pay 40k a day on top of everything else!