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

[McGinty]

A quick look through the latest Annual report shows that 4 of the directors hold or control around 39% of the shares

Grant Baker - 16.34%
Paul Byrnes - 4.44%
Matthew Harrison - 8.98%
Alistair Petrie - 9.05%

Unsure if any of these figures are double ups of the Business Bakery Holdings

What Turners have left out from the Annual report (admin error?) is the fact that Milford and Salt hold a few shares as well

- Milford - 7.995%
- Salt - 9.298%

Plus there is a/some mystery international holder that has 10.2m shares (12%), No SSH released

[winner69]

Wow — 85 odd employees earning more than $100,000

Not quite Fonterra proportions but seems relatively high number

[Ggcc]

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

I have never seen a negative approach to wage demands for directors for any shares I have held and all I have seen. I will be pleasantly surprised to see their demands not met.

[winner69]

I have never seen a negative approach to wage demands for directors for any shares I have held and all I have seen. I will be pleasantly surprised to see their demands not met.

A few such resolutions have been withdrawn over the years

[BlackPeter]

Wow — 85 odd employees earning more than $100,000

Not quite Fonterra proportions but seems relatively high number

Question is - would this number include whatever bonus the sales people get for selling a car? If that's the case, than 85 employees nationwide would not be a high number ...

[blackcap]

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

Insto's don't care, its not their money.

[peat]

... you can't blame a fickle market for that ski slope.

Or can you?

[Beagle]

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 Every car they plan to sell by auction is withdrawn and sold with a buy now (presumably with finance as well)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

Welcome to the forum. I am wondering if this is an HR issue. The company did admit they are battling to get quality human resources on the ground, (or words to that effect) at their national roadshow...but then getting quality professional sales staff is not by any means a problem unique to TRA. That said if one was a salesman that was professional and successful I wonder how many would be happy to work from a converted shipping container as opposed to for example, the other end of the spectrum, some of Giltrap's fancy European car sales palaces ? Does this " rather unique" business premises proposition leave TRA with a real problem attracting good staff ?

My point is that anyone that's any good is going to want to gravitate further up the car sales food chain and be looking for a better quality working environment, among other things and I can't help wondering if that point has been somehow overlooked by management ?

[winner69]

Maybe they don’t enough cars to put on this pop up Wellington site

Hope the container office is heated to keep them warm in a decent southerly

[minimoke]

Welcome to the forum. I am wondering if this is an HR issue. The company did admit they are battling to get quality human resources on the ground, (or words to that effect) at their national roadshow...but then getting quality professional sales staff is not by any means a problem unique to TRA. That said if one was a salesman that was professional and successful I wonder how many would be happy to work from a converted shipping container as opposed to for example, the other end of the spectrum, some of Giltrap's fancy European car sales palaces ? Does this " rather unique" business premises proposition leave TRA with a real problem attracting good staff ?

If Turners have a solid reputation for being a great employer they should not be having difficulty finding great sales people. That said - working out of a container does not give an impression of being a great Employer. Even TooCheapCars work out of something more permanent.