sharetrader
Page 188 of 296 FirstFirst ... 88138178184185186187188189190191192198238288 ... LastLast
Results 1,871 to 1,880 of 2956
  1. #1871
    Member Alan3285's Avatar
    Join Date
    Jul 2009
    Posts
    493

    Default

    Quote Originally Posted by minimoke View Post
    Also sounds like Huljich Kiwisaver where he propped up the fund value
    Yes - you could be right.

    If so, very sad.

    Alan.

  2. #1872
    Legend Balance's Avatar
    Join Date
    Feb 2003
    Posts
    21,480

    Default

    Very very sad day for the people of Timaru.

    There will be a lot of soul-searching by those who have been helped by Hubbard and to their credit, have rallied in support of him. There is no shame in what they did - they were simply misled and misguided.

  3. #1873
    ShareTrader Legend Beagle's Avatar
    Join Date
    Jul 2010
    Location
    Auckland
    Posts
    21,362

    Default

    Quote Originally Posted by minimoke View Post
    Bugger the supporters!. Its the investors I feel very sad for. Heres just another example of a financier using other peoples money for his own ends and being very frugal and creative with the truth. These people are just wolves dressed up as sheep (or in this case perhaps cows) and unfortunately the human flock exhibit similarities to the sheep flock.
    Yeah that's more than fair comment. I think its sad all round. Ah has been caught out by the GFC, his stratagy of building wealth through very high leverage simply doesn't work in this new economic environment. The vast array and exponential growth in related party transactions shows he's been putting out scrub fires since the GFC began.

    We can all learn some lessons from this extremly sad situation.
    1. Keep proper records.
    2. Don't B.S. people, the truth always comes out.
    3. Don't run highly leveraged positions, especially as you get older.
    4. Don't give money away that isn't yours.
    5. Retire in good time, no point being a workaholic till the day you die.

    Anyone care to add to the list ?

    BTW What's the bet that lots of SCF lending is of a similar calibre to Aorangi and HUbbard Funds Management ?

    Another financial nuke bomb about to be dropped on 31 August regarding write-downs anyone ?

    Perhaps another loss of $200m to add to the first six months of the same amount ?
    Last edited by Beagle; 27-08-2010 at 09:13 AM.

  4. #1874
    Member
    Join Date
    Dec 2009
    Posts
    54

    Default

    Trading Halt of SCF010 etc by the exhange pending material announcement from SCF

  5. #1875
    Speedy Az winner69's Avatar
    Join Date
    Jun 2001
    Location
    , , .
    Posts
    37,737

    Default

    Ah so ... is it the Chinese money arrived Roger?

  6. #1876
    Legend minimoke's Avatar
    Join Date
    Mar 2005
    Location
    Christchurch, New Zealand.
    Posts
    6,502

    Default

    Quote Originally Posted by Romulus View Post
    Trading Halt of SCF010 etc by the exhange pending material announcement from SCF
    If only we had time to hold a Poll. Either Sandy has got teh Equity or he hasn't. I'm inclined to think the Aorangi news today will be enough to scare off the remaining keen parties. The SCF brand is irrepairably damaged.

  7. #1877
    ShareTrader Legend Beagle's Avatar
    Join Date
    Jul 2010
    Location
    Auckland
    Posts
    21,362

    Default

    Quote Originally Posted by winner69 View Post
    Ah so ... is it the Chinese money arrived Roger?
    We'll know soon enough.

  8. #1878
    Legend Balance's Avatar
    Join Date
    Feb 2003
    Posts
    21,480

    Default

    Quote Originally Posted by minimoke View Post
    If only we had time to hold a Poll. Either Sandy has got teh Equity or he hasn't. I'm inclined to think the Aorangi news today will be enough to scare off the remaining keen parties. The SCF brand is irrepairably damaged.
    Makes sense now for the Crown to take over ownership of SCF - like in Air NZ.

  9. #1879
    Member Alan3285's Avatar
    Join Date
    Jul 2009
    Posts
    493

    Default

    Quote Originally Posted by Balance View Post
    Makes sense now for the Crown to take over ownership of SCF - like in Air NZ.
    That would not be such a bad outcome overall (given the alternatives).

    Doesn't have to be 100% (I think AirNZ was left 10-15% in private hands?)

    Alan.

  10. #1880
    Legend minimoke's Avatar
    Join Date
    Mar 2005
    Location
    Christchurch, New Zealand.
    Posts
    6,502

    Default

    Quote Originally Posted by Balance View Post
    Makes sense now for the Crown to take over ownership of SCF - like in Air NZ.
    Why? Air NZ was essentially the only air carrier in NZ at the time with some iconic/ national status. There are no shortage of financial institutions investors can place there money in or loan from. From a public policy perspective the consumer still has a lot of choice. I think Govt intervention will be unpalatable - what about the Hanover / Bridgecorp investors. What gives SCF Special Status? Air NZ still had a robust brand - SCF (despite Sandy's best efforts) is in tatters.

    The Aorangi Stat Mans are encouraging farmers to seek alternative lending facilities - interestingly at lower rates than they are currently paying.

    Put in the receivers and see what value they can extract to re-imburse the tax payer for the Deposit Guarantee.

Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •