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25-09-2018, 04:50 PM
#10591
What you say is fair comment and none of the above is really new news mate. I have decided I want to invest more strongly in a needs based business (OCA) on a forward PE of just 11, (far more value orientated) with a reasonable yield component (about 5% and growing each year for the foreseeable future). I met the CEO last week Earl Gasparich and he is known to some friends of mine in the industry to be a man of very high caliber and upmost integrity. I don't know the two new CEO's of the milky companies from Adam. I guess there comes a time when one asks themselves if they need so much volatility in their portfolio or whether they can still get really good growth and some yield by tweaking their portfolio... I still hold a reasonable stake in each, (free ride of course).
I've been thinking about the changes in CEO's for many many weeks now. Except from ATM annual report received today Chair's comment page 15 "This year also marks the retirement of Geoffrey Babbage as managing director and CEO..... Geoff's leadership was a critical part of the company's success over his 11 year association with the business" Emphasis added. I really don't know what Ms Hrdlicka brings to the business but her credentials leading JetStar and what a rubbish brand that division of Qantas is, do not impress me.
Last edited by Beagle; 25-09-2018 at 04:58 PM.
Ecclesiastes 11:2: Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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25-09-2018, 04:52 PM
#10592
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25-09-2018, 05:05 PM
#10593
Originally Posted by Beagle
What you say is fair comment and none of the above is really new news mate. I have decided I want to invest more strongly in a needs based business
Time for a wee reminder: Lactose Intolerance - quite a need hteri https://www.auckland.ac.nz/en/about/...long-term.html
And how big is that potential need: might be a lot of needy peoepl here: https://milk.procon.org/view.resourc...ourceID=000661
Originally Posted by Beagle
(OCA) on a forward PE of just 11, (far more value orientated) with a reasonable yield component (about 5% and growing each year for the foreseeable future). I met the CEO last week Earl Gasparich and he is known to some friends of mine in the industry to be a man of very high caliber and upmost integrity. I don't know the two new CEO's of the milky companies from Adam. I guess there comes a time when one asks themselves if they need so much volatility in their portfolio or whether they can still get really good growth and some yield by tweaking their portfolio... I still hold a reasonable stake in each, (free ride of course).
I've been thinking about the changes in CEO's for many many weeks now. Except from ATM annual report received today Chair's comment page 15 "This year also marks the retirement of Geoffrey Babbage as managing director and CEO..... Geoff's leadership was a critical part of the company's success over his 11 year association with the business" Emphasis added. I really don't know what Ms Hrdlicka brings to the business but her credentials leading JetStar and what a rubbish brand that division of Qantas is, do not impress me.
Having a good CEO is important. But what is MUCH more important is highly capable and competent people working under the CEO. People like marketers and product developers etc
What we need to look out for is if the leadership style of these two new CEO's retains current high performing staff. Or do they exit.
Herdlicker did, I thought, a pretty good job on her TV appearance the other day. SML are buying a cheese factory etc etc. Still potential for more positives than the offset blip
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25-09-2018, 05:06 PM
#10594
Member
I sold down 50% of my ATM yesterday & it is nice to see a fair amount of cash available for re-investment.
The remaining ATM still sits at 14% of my Portfolio.
I was thinking ATM’s price would drop a little lower & my plan was to buy back in & take advantage of the dip.
Now on re-consideration I think a CEO selling is a major “Warning” and that this is a stock in which NOT to re-invest back into.
Like Beagle I will be re-balancing my Portfolio and look forward to my less volatile choice.
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25-09-2018, 05:15 PM
#10595
I am well and truly sick of the volatility minimoke...that's another reason to take a more circumspect approach as far as I am concerned.
I think Earl Gasparich is an excellent leader in a very similar vein as Simon Challis was at Ryman. I agree that the way a CEO relates too and motivates staff and senior management and leads them is of critical importance and think he's just the man for the job. As I said, I don't know these JetStar and Fonterror newcomers from Eve and Adam, maybe they're good and maybe they're hopeless. Got a spare coin I could flip
Last edited by Beagle; 25-09-2018 at 06:39 PM.
Ecclesiastes 11:2: Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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25-09-2018, 05:16 PM
#10596
I nominate Beagle to be the new CEO. Would you do it for 800k/year? I think a CEO should be a share holder for at least 1 or 2 years before that position.
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25-09-2018, 05:16 PM
#10597
Well hot off the press and also courtesy of one of HC member for posting details...
https://www.iod.org.nz/Branches-and-...ProductId/5752
Looks like David Hearn was in Auckland today for breakfast event as per above and one of the question has was asked by a reporter relating to recent news of CEO selling down shares...
And in words of HC member this is what he said as per below...
*****
"David Hearn (Chairman) gave a speech in Auckland this morning. During the Q&A session the issue of Jayne selling all her shares was the first question brought up in the audience. His answer was the shares Jayne sold was compensation for her existing scheme in she had in Qantas, A2M had to match it her old compensation scheme when she moved over. They just happen to vest the same time as her old JetStar/Qantas shares. The Australian rule is that tax becomes payable when the shares becomes exercisable, and not when they are exercised. She she was forced to sell 48% of her shares to fund her tax obligations. And the rest of it she sold was genuinely related to pre-employment commitment she made.
In hindsight David Hearn said they should've compensated her exisitng JetStar/Qantas shares in cash when she joined. But they can understand how it looks really bad right now.
Honestly, I really don't think there's anything sinister with Jayne's action and it rather was just poor timing (the fact that she also took two months off prior to starting at A2M further makes the optics look bad)."
****
I think its time to move on.....
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25-09-2018, 05:17 PM
#10598
Member
Originally Posted by see weed
I nominate Beagle to be the new CEO. Would you do it for 800k/year? I think a CEO should be a share holder for at least 1 or 2 years before that position.
I 2nd that.
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25-09-2018, 05:18 PM
#10599
Originally Posted by Beagle
I am well and truly sick of the volatility minimoke...that's another reason to take a more circumspect approach as far as I am concerned.
I think Earl Gasparich is an excellent leader in a very similar vein as Simon Challis was at Ryman. I agree that the way a CEO relates too and motivates staff and senior management and leads them is of critical importance and think he's just the man for the job. As I said, I don't know these JetStar and Fonterror newcomers from Adam, maybe they're good and maybe they're hopeless. Got a spare coin I could flip
If the A2 Chief Marketing Officer goes that would be a huge loss. That Susan has been the driving force behind A2 the last few years
And nobody seems to have worried about her selling millions of dollars worth of shares lately.
When investors are euphoric, they are incapable of recognising euphoria itself
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25-09-2018, 05:23 PM
#10600
Originally Posted by see weed
I nominate Beagle to be the new CEO. Would you do it for 800k/year? I think a CEO should be a share holder for at least 1 or 2 years before that position.
LOL thanks for the vote of confidence mate.
Ecclesiastes 11:2: Divide your portion to seven, or even to eight, for you do not know what misfortune may occur on the earth.
Ben Graham - In the short run the market is a voting machine but in the long run the market is a weighing machine
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