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

[couta1]

When asking themsleves if they are worth market remuneration the Directors might want to spend a moment reflecting on the attached picture

Yep that picture should be on the screen at the front of the meeting room, you can't blame a fickle market for that ski slope.

[Beagle]

http://nzx-prod-s7fsd7f98s.s3-websit...647/266385.pdf

Colonial Motors - the closest comparable company on the NZX
Annual Sales last year $854m
Net profit after tax $22.2m
Chairman's fee $84.5K
Other Directors $50-60K
I guess the independent review of directors fees somehow, (perhaps very conveniently) managed to overlook that company as a valid comparative measure ?
What does it matter that Colonial is actually creating real shareholder value for its shareholders after all...that's completely irrelevant right ?
How hard is it really to govern a company running a bunch of used car dealerships which sell cars, finance and insurance for goodness sake...

[minimoke]

Yep that picture should be on the screen at the front of the meeting room, you can't blame a fickle market for that ski slope.

Heres another one if they want to compare director fees in the market

[JayRiggs]

Grant Baker + the other directors will try their best to give justification on why they should get an increase in director fees in an effort to convince shareholders to vote for it at the AGM.
DO NOT fall for it.

One of the things they might say is "we do not control the share price", which I've always believed is complete BS.
The share price is mostly dictated by the company's financial performance.


If the share price has gone down, it means they are NOT performing well enough.
Board of directors + management must be held accountable for poor performance, hence a poorly performing share price.

[Joshuatree]

Ive voted against increase in directors fees.
And thanks McGinty and others for sharing.

[alex f]

When is the quarterly dividend due ? , different years, different months. Any ideas?
The Cambridge Terrace, Wellington yard was due to open in August, the container office is in place, but the yard hasn’t been sealed and is deserted. The opening in August sign has been turned around, away from the road.
I’m expecting good things in the November announcement.
Cars are flying out the door at the Wellington branch. Every car they plan to sell by auction is withdrawn and sold with a buy now (presumably with finance as well)
A bit frustrating as I liked getting cars at a wholesale prices driving them for a year, then getting my money back.
I’ve been going to Turners for 30 years. Used to be public and fleet auctions.
Then the selling public went to Trademe.
Then it was full of their own imports, not that many fleet cars.
Finally, they have cornered a huge chunk of the used NZ vehicle fleet and offer finance and add ons.
Hardly any imports there.
I wonder what they charge the fleet sellers ? A Toyota Yaris with a $10,700 buy now, is also offered at $8500-9500 suggested auction selling price (there is a $460 fee on top of the auction sale price), which is over $1000 less than the buy now.
Or are Turners just buying the fleet vehicles, then selling them ? (not on behalf sale)
They send out an email with new listings on my watchlist. I click on the links and a third have already sold. (so never get to the auction)
The only downside I see, is if Turners lose any portion of their NZ new car supply.
Wgtn is overflowing with them, but many are being sold

[percy]

Welcome to ST.Great first post.
I received a dividend on 20th April,and another on 18th July.
Next one is due either 17th or 24th of October,Details have yet to be announced.
Pity the Cambridge Tce site is not up and running yet.Spring time should be a good time to open a new yard.Wonder what is causing the delay?
Sounds as though you have had great fun with your Turners Cars over the years.
NZ new supply.Seems secure.

[Ggcc]

Running out of buyers. Guess too many disagree with these outrageous salaries and feel their vote will mean nothing against the huge votes pro wage increase they will get from institutions.

[couta1]

Running out of buyers. Guess too many disagree with these outrageous salaries and feel their vote will mean nothing against the huge votes pro wage increase they will get from institutions.

I doubt the Insto's clients will be happy with their capital being eroded away though.

[winner69]

Close 285 being the low of the day

Some say that’s not a good sign

Must have been irrational exuberance that drove the price up to the 380s a while ago ......euphoric hype just too much for some punters

So 25% down since .....that’s more than a correction