TRA - Turners Automotive Group [previously TNR - Turners Limited]

[Joshuatree]

Only if you're trader or a sad sack kinda guy/gal. I will take the 7% yield and pro active enthusiasm of management to refine and grow this company, leading and biggest in its field..

[golden city]

This is a good management always looking to improve and pay good cash dividends so I think treat it as a dividend long hold stock won’t hurts

[Beagle]

This rather surprised me.
However they see better use of their capital doing this.
i would think there will be widespread interest in Oxford Finance,so whether it is sold outright, or some joint venture will be interesting to see.
CE Credit does look as though it will be sold.
New sites and relocated sites are performing well.More being developed which I see as a very real positive.
Their property development/ dealing is certainly very profitable.
MIM although lower is still an extremely healthy 8.9%.

Wasn't that long ago many were extoling the virtues of their business model being multi faceted. Will be much easier to value now. Just look at earnings from the car operations and apply one or two PE lower than Colonial Motors, (lets face it their track record has been far superior) and QED you'll have fair value.

[winner69]

This rather surprised me.
However they see better use of their capital doing this.
i would think there will be widespread interest in Oxford Finance,so whether it is sold outright, or some joint venture will be interesting to see.
CE Credit does look as though it will be sold.
New sites and relocated sites are performing well.More being developed which I see as a very real positive.
Their property development/ dealing is certainly very profitable.
MIM although lower is still an extremely healthy 8.9%.

Percy, I’m a bit disappointed that Todd didn’t sound you out about these changes and get your endorsement

These days it is an imperative to get key influencers on board from day one when you do big things. Just makes acceptance that much harder.

They’ve missed out here ...which is a worry as one of the key platforms for the future is getting closer to the consumer by way of the internet.

[percy]

Wasn't that long ago many were extoling the virtues of their business model being multi faceted. Will be much easier to value now. Just look at earnings from the car operations and apply one or two PE lower than Colonial Motors, (lets face it their track record has been far superior) and QED you'll have fair value.

Yes the fact that as a finance company, they had direct access to Turners customers, to sell both finance and insurance was what I thought was "the great" differentiator to other finance providers, such as other finance companies and banks.

[percy]

[QUOTE=winner69;760909]Percy, I’m a bit disappointed that Todd didn’t sound you out about these changes and get your endorsement

So am I....................

[forest]

Yes the fact that as a finance company, they had direct access to Turners customers, to sell both finance and insurance was what I thought was "the great" differentiator to other finance providers, such as other finance companies and banks.

I understand your thinking and if TRA board would have been a bit more committed to the business they created I think the plan would have more than likely work out. We would have seen healthy growth in profits by now.
Sadly as I observed earlier, I can not help but see similarities between the performers of Grant Baker while chairing TRA and the wagging kids at my school many years ago.

[percy]

I understand your thinking and if TRA board would have been a bit more committed to the business they created I think the plan would have more than likely work out. We would have seen healthy growth in profits by now.
Sadly as I observed earlier, I can not help but see similarities between the performers of Grant Baker while chairing TRA and the wagging kids at my school many years ago.

The amount of shares owned by board members, is the best way to judge any board members' commitment, in my very long experience of the sharemarket.
The board of Turners have a great deal of skin in the game.

[Ggcc]

http://www.stuff.co.nz/business/indu...Oxford-Finance.

We know what they bought it for, but do we know what they will sell it for??

[percy]

http://www.stuff.co.nz/business/indu...Oxford-Finance.

We know what they bought it for, but do we know what they will sell it for??

Now that's a very interesting question.?
Another one is what will they get for EC Credit.
Yet another one is will they sell their MTF shares,and if so at what price.?