SUM - Summerset Group

[Ggcc]

Slowly dropping on a bit of downward pressure..... overseas turmoil? Nothing really changed including whopping growth in the company. Still thinking if it gets down too low I may do a couta and fully invest in one to two companies at most.....

[Fox]

Slowly dropping on a bit of downward pressure..... overseas turmoil? Nothing really changed including whopping growth in the company. Still thinking if it gets down too low I may do a couta and fully invest in one to two companies at most.....

Just market jitters with global concerns, nothing specific to SUM.

[iceman]

It really is shameful how many operators in this industry have treated their workers with low pay and sometimes bad condition. It is good to see this settlement which hopefully will be signed off today http://www.nzherald.co.nz/business/n...ectid=11839877

[couta1]

It really is shameful how many operators in this industry have treated their workers with low pay and sometimes bad condition. It is good to see this settlement which hopefully will be signed off today http://www.nzherald.co.nz/business/n...ectid=11839877

This is going to affect the bottom line profit of all the listed companies big time, the more the company relies on care beds for income, the bigger the hit will be.

[LAC]

This is going to affect the bottom line profit of all the listed companies big time, the more the company relies on care beds for income, the bigger the hit will be.

Yes, I agree with that. Unless the "customer" takes on these costs which is a tough sell.

[Ggcc]

I love how people love the idea of everyone getting paid more. The only hidden thing is, it comes at a cost to someone else.

In most cases the customer has to take on most or all of the extra cost.

[bull....]

I love how people love the idea of everyone getting paid more. The only hidden thing is, it comes at a cost to someone else.

In most cases the customer has to take on most or all of the extra cost.

In the majority of cases the customer is the Govt so unless the Govt wants to pay more the companies will wear the cost.

[couta1]

Yes, I agree with that. Unless the "customer" takes on these costs which is a tough sell.

The gap between the bed funding benchmarks set by the individual DHB's and the total increase in the wages to revenue bill of each company will determine the extent of the hit, but it will be significant based on those projected hourly rate increases. The gravity train days may be about to slow down significantly unless the Govt increases their funding to the sector via the DHB's to bridge the gap.

[bull....]

I was warning on the oceania thread that the days of this sector wont last fore-ever. Anyway they all make plenty of profit guess it will just be less profit maybe they can increase the exit fees on retirement living to 50% fee instead of the 20 - 30%?

[couta1]

It's only the beginning of pain folks for the sector, next up will be nurses hourly rates which will be measured against those working for the DHB's and were talking a big difference in hourly rate. And then there are the cleaners and activity staff. Baton down the hatches folk and fasten your seatbelts, could be a wild ride going forward.