FBU Chart.

[winner69]

Where is the focus on maximizing shareholder returns or doesn't he think its necessary to actually be responsible to you know...the people who actually own the business for goodness sake. I'd be furious if I were a shareholder, furious enough to go to the annual meeting wearing a Viking helmet !

Maybe cause capitalism is dead or something

maximising shareholder returns as a core value / foundation is so so yesterday

[Beagle]

This company leaves me at a total loss, how can this all come to pass in 2017... seriously!

Beggars belief doesn't it ! Thankfully nobody has a gun pointed at our head forcing us to be a shareholder otherwise I'd probably tell them to just shoot me lol
Fortunately it appears sharetrader forum members are a pretty savvy bunch of investors as there was widespread derision towards FBU clearly evident at our last annual get together in Feb 2017.

Maybe cause capitalism is dead or something

maximising shareholder returns as a core value / foundation is so so yesterday

Jacinda thinks so !

[Balance]

That Taylor could " return (a) loss-making businesses to profitability" is a OK but not overly inspiring.

The warning signs are still there. Norris says ""Importantly he is a leader focused on people and culture, safety performance, client and customer satisfaction and sustainability, which are the foundations of any successful company."

FBU need to look at changing their soft skill foundations as its obviously not working. For example - I am sure Sky City are a satisfied client but has this made FBU profitable? Unlikely. This CEO better know numbers and be able to change quickly when those numbers don't look good.

When you cannot dazzle them with performance, dazzle them with platitudes and bull****?

[JeremyALD]

Only 2% down now and I wouldn't be surprised to see this up end of day.

I don't understand how shareholders are so forgiving to FBU. It bounced straight back after their last downgrade too.

[Beagle]

Only 2% down now and I wouldn't be surprised to see this up end of day.

I don't understand how shareholders are so forgiving to FBU. It bounced straight back after their last downgrade too.

Quite right mate and I don't think any of us on here understand it either. Analysts probably ignoring losses from B&I division YET again and coming up with "normalized" profit after tax of $434m which gives 62.4 cps and then hoping the new CEO can wring some efficiency out of this dinosaur, (let's be honest there's almost limitless area's in this company to find extra efficiency) so must be 75 cps earnings in the years ahead so the stock is cheap...or some such other entirely fictional work of their collective imaginations
Still what do we know, just amateurs... but then again we don't have a vested interest to generate brokerage income do we

[peat]

Quite right mate and I don't think any of us on here understand it either. Analysts probably ignoring losses from B&I division YET again and coming up with "normalized" profit after tax of $434m which gives 62.4 cps and then hoping the new CEO can wring some efficiency out of this dinosaur, (let's be honest there's almost limitless area's in this company to find extra efficiency) so must be 75 cps earnings in the years ahead so the stock is cheap...or some such other entirely fictional work of their collective imaginations
Still what do we know, just amateurs... but then again we don't have a vested interest to generate brokerage income do we

Too many funds and institutions already in and would rather support than bail??

FNZ put out a review this morning with a $9.20 target!

But that said we are at a very important level being a 78% fib retracement of the big movement that took place from 6.70 to 11 ish during 2016. So I see it technically as very critical that it holds this level otherwise <snap>

[minimoke]

Only 2% down now and I wouldn't be surprised to see this up end of day.

I don't understand how shareholders are so forgiving to FBU. It bounced straight back after their last downgrade too.

I remember reading somewhere (so dont quote me!) that the sum of the parts is worth more than the whole. So maybe some hope that if there is a carve off greater value will be achieved.

[Beagle]

Too many funds and institutions already in and would rather support than bail??

FNZ put out a review this morning with a $9.20 target!

But that said we are at a very important level being a 78% fib retracement of the big movement that took place from 6.70 to 11 ish during 2016. So I see it technically as very critical that it holds this level otherwise <snap>

Wow in post #1683 I made the case that they are only worth exactly half that.
Here's the thing, they have a pack mentality, clearly exhibiting management struicture built around survival of the pack, (pigs eating from a trough anyone ?) and have clearly taken lessons from this https://www.asme.org/career-educatio...-dog-sled-team
This hound however knows it is all supposed to be about the speed or progress across the snow...management at FBU seem to think the goal is all about how long they can keep their snouts in the trough.

[bullfrog]

I remember reading somewhere (so dont quote me!) that the sum of the parts is worth more than the whole. So maybe some hope that if there is a carve off greater value will be achieved.

With over 20,000 staff over 34 business units, the SP may reflect an expectation that some BU may be sold off.

Also, I’d be interested in the company’s philosophy in running so many BU. I suspect that they may have been looking for economies of scale, with centralised billing, finance, admin, etc, but without very strong competent leadership, this could be a disaster. I’ve had some dealings with Fletchers and found invoices have had to be returned 3 times before they were correct. I was told invoicing was generated by an office in a land far far away/different time zone/alternative universe (choose one) from the work site. Nightmare for progress payments, variations, adjustments etc etc.

So I believe a limited breakup is a real possibility, shame MPG (and others in sector) will be tarred by same brush.

[value_investor]

The bull market sentiment overrides everything. I would have expected this to be down 5-7% after an announcement like this but I guess rationality has been thrown out the window.

I am surprised that management has been able to operate like this, isn't this type of thing bordering on negligence? Especially if management have been aware the whole time and suppressing the information from its investors. This is the third downgrade since March, surely the market conditions haven't changed that much since..

Buyer beware..