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

[Nitaa]

DPC has a market cap of $14 M, NTA $1.70(?) and cash in the bank of $30 M. Am I missing something or is DPC trading way below NTA and cash holding?

Yes you are missing something. No good having $30m cash if your debts are more or your asset value is colapsing or the money you have loaned are high risk and there are mortgagee sales and the loan amount is higher than the value of the asset. Or your investment into other companies are going peer shape. Anything else.

How is there debt to equity ratio? They talk about $30m cash or should i say cash equivalent.

The only ones who will make money out of this stock is a select few

I have been saying and giving some clues for months about this stock. In this sector there continues to a be a lack disclosure. Why would anyone want to play russian Roulette with this stock without nknowing much about it. It is committing suicide.

There is a saying..If it looks too good to be true it most problably is.

[dsurf]

All announcements from this board are BS and totally unreliable

why anyone would believe NTA as published is beyond me.

Can anyone tell me any profitable activity that DPC does that earns a profit?

thank god the clown has gone

but the boat will go down under the weight of the board who remain

Never believe anything the mangement of this company say

also how many millions is the loss going to be?

mmm 6m profit announced

then 3 to 4m profit

then "we will not make 3 or 4m profit" & will not give a forecast - why not - because it is a huge loss coming.

This company has not made an operting profit for years - can't wait for it to disappear!

[POSSUM THE CAT]

The bigest mistake they made was getting tied up with ST Laurence, sounds like they are going to write down their ST Laurence holdings by a large percentage.

[glennj]

Not sure why people are still shareholders in this company. It's been clear for a long time that shareholders were being disrespected and that the company would be entering a more difficult cimate. Surely a sell signal?
I quit the last of my positions back in March 2007 for a decent profit and am very glad that I didn't hang on to see profits disappear.

It's worth storing in the memory banks just who has been involved with DPC at both board and executive level.

[Billy Boy]

It's worth storing in the memory banks just who has been involved with DPC at both board and executive level.

Agree.....

BB

[dsurf]

Not sure why people are still shareholders in this company. It's been clear for a long time that shareholders were being disrespected and that the company would be entering a more difficult cimate. Surely a sell signal?
I quit the last of my positions back in March 2007 for a decent profit and am very glad that I didn't hang on to see profits disappear.

It's worth storing in the memory banks just who has been involved with DPC at both board and executive level.

Is it worth a new thread - "Management & Executives of failed finance companies"?

[dsurf]

REL: 1556 HRS Viking Capital Limited



GENERAL: VIK: Viking Slams Dorchester Announcement



?

PRESS RELEASE



Viking Slams Dorchester Announcement



We have been approached by a number of members of the Media to comment on the

Dorchester Pacific Press Release dated 1st May 2008.



As a significant shareholder, we wish to state our position so different

media do not get a different understanding.



Our position is as follows:



Until the appointment of Walker, Dorchester had been managed very

conservatively with respect to its capital ratios and lending policies. The

company had also been diversified so that it could meet its targets even when

conditions in the finance sector worsened. This situation was predicted by

previous management. Walker and the board out of ignorance changed the

business model by:



1. Making large loans on illiquid assets.



2. Investing precious capital reserves in an ill considered manner.



If they had stuck to the business model they would have had the opportunity

to make excellent profits now. Dorchester would have been in a vastly

different financial position to other finance businesses which have failed,

because it would have had financial reserves. With less competition, rising

interest rates and an increasingly desperate base of potential borrowers the

time would have been ripe. Instead, they squandered that opportunity. With

experienced management, a new board and support from its funding base,

Dorchester would still be a fantastic business, but it desperately needs

quality management and governance.



Announcement

We are stunned by the announcements and do not believe that this is an

acceptable statement from a Board of a public company.



The statement concerning the write down of the St Laurence is bewildering.

Only 2 months ago Dorchester made its first profit downgrade announcement

without any reference to a revaluation of their investment in St Laurence.

Three directors of Dorchester, namely Barry Graham, Kevin Podmore and Andrew

Walker are also directors of St Laurence Ltd. Surely they would have known

of the deterioration of Dorchester's investment at that time.



To announce a write down of the St Laurence investment only one year after

the original acquisition is unacceptable. The euphoric statements from the

Chairman and CEO ("This deal was the best deal I have ever done ") at the

time are now quite absurd.



Clearly the wasting of $20.m cash at that critical time was a very poor

decision.



Vikings position, along with many other Dorchester shareholders was that the

price paid was too high and this has been borne out.



There may be more matters to surface about this deal and many people are

watching this with interest.



We are deeply concerned about the overall state of the company and the

performance of the Board and the CEO who has now resigned. We continue to be

concerned with their lack of transparency in company statements. For

example, you would expect more detailed information on the reasons for the

resignation / termination and the date of his departure to be stated. It

would further be normal to state what the financial implications, if any, for

the company were from this resignation, e.g. bonuses etc.



We believe it is incumbent on the board to advise the market their plan for

the management of the Company in the short and medium terms.



We are equally concerned about the impact of the announcement on the future

of the Company and the implications for investors, staff and minority

shareholders. We will make further comments early next week.

[golden city]

viking slam dpc.. but I am here to slam viking..about bio... same things heppend here..

[COLIN]

[QUOTE=belgarion;197
Will see what the market does and perhaps buy some at todays low. Volumes are pretty thin still.

discl: recent holder and buying.[/QUOTE]

Not a wise move, my friend. Dare I remind you of FTX? This one is also headed for oblivion.
Running downhill, trying to catch a rolling cheese, can result in one falling flat on one's face.

[POSSUM THE CAT]

The AGM will be very interesting is mr Byrne planning to dramatically change the board he has A lot of shares and possibly accumulating more