PGC - Licenced to Bank

[Logen Ninefingers]

Logen Ninefingers, with all due respect, may I suggest you do some home work on this company, before making uninformed posts like this?

That's fair enough I guess, but other posters have said that Torchlight raised the money independently and I have no reason to dispute it. Where they got that information from, I don't know, but am happy to accept it. If everyone goes off, does all the research, & reaches the same conclusions, then I see no point in having a site like this. If by posting my own views I get information from other posters which contradicts me, I am happy to stand corrected. And I guess everyone who reads the posts by 'those in the know' will be better informed themselves.
I am not overly convinced that Torchlight raising the money independently necessarily translates into it being a good thing to prop up SCF to the tune of $75 million dollars, but I guess I'll get slammed by other posters on that too. The point I would make is that one part of the group being in trouble would impact on the group as a whole, so I don't know about Torchlight being considered some sort of seperate entity. But, if it all works out in the end, great.

[percy]

Logen Ninefingers, with all due respect, may I suggest you do some home work on this company, before making uninformed posts like this?

Logan I have had a go at directors at AGMs and have asked questions,and have rung directors when i am unsure of things.I try to make positive statements and be helpful to all other posters.I do however spend a lot of time reading annual reports and make sure of my facts.I have had directors thanking me for my well informed questions and have found directors only to happy to speak to me either at meetings or on the phone.I am sorry I sometimes find it hard to express myself.Well here goes.
Should either of us put money in an at risk company I am sure we would loose it.Ker and the likes KNOW the RISKS and make sure of the security backing any loan made.That is their career.They make sure of the security and are first in line for repayment while you and me would miss out,torchlight and epic are funds that perpectual run.should they go bust there would be little effect on PGC.

LOGAN read,read ,read.then ask.

[Logen Ninefingers]

You expressed yourself well. My apologies for the uninformed posts; will endeavour to do more reading.

[percy]

You expressed yourself well. My apologies for the uninformed posts; will endeavour to do more reading.

Logen thank you,keep up the posts we are all learning.I have learnt a lot from posters,it is not all one way.However should you not understand a company or feel uncomfortable with the answers ,sell.Try to back your own research.

[mouse]

https://www.asbsecurities.co.nz/section15.asp

Many thanks Silverlight. Fees are a bit too high for me, but useful information. The next question is why their lending people did not know. Quite appalling really. Another reason why Marac Bank could do rather well.
What bothers me a lot is the Lemming-like policies of NZ business. All lend or few lend. The old system of bank managers who knew their customers was in my opinion far superior to a call centre in The Phillipines. Hopefully Marac will be old school.

[zigzag]

You expressed yourself well. My apologies for the uninformed posts; will endeavour to do more reading.

Logen. Did you actually read the prospectus for the capital raising? If you want to do some more reading, then pages 43 & 44 will explain the relative roles of PAM and Torchlight.

[mouse]

Mouse. I enjoy reading your posts and like the fact that you are passionate about the things you have invested in. Too much passion can sometimes cloud ones judgement. Banks do lend to businesses. Due to the recent credit crunch, they have just tighten the noose. The time will come in the future where banks will start to lend like there is no tomorrow again and forget there was a financial market crash. If you have a good relationship with your bank they are more flexible.

Dont forget that high risk lending usually end up when tears with the market turns. The recent fall of finance companies is prove of the risk in lending to high risk ventures.

Take a look at this site.

Failed Bank List
http://www.fdic.gov/bank/individual/.../banklist.html

The list is impressive. I suspect a major amount of the banks failed due to housing loans! Many thanks Dr Who.
I have put the list into my favourites file. Did not know if I should use my Money folder or the Poverty folder!

[Balance]

You expressed yourself well. My apologies for the uninformed posts; will endeavour to do more reading.

Something you will not find easy to find and read - George Kerr is still sitting on a paper loss of over $35m on his PGC shareholding. Plenty of incentive for him and the Gould family to get PGC right, second time round!

[Balance]

Mouse. I enjoy reading your posts and like the fact that you are passionate about the things you have invested in. Too much passion can sometimes cloud ones judgement. Banks do lend to businesses. Due to the recent credit crunch, they have just tighten the noose. The time will come in the future where banks will start to lend like there is no tomorrow again and forget there was a financial market crash. If you have a good relationship with your bank they are more flexible.

Dont forget that high risk lending usually end up when tears with the market turns. The recent fall of finance companies is prove of the risk in lending to high risk ventures.

Take a look at this site.

Failed Bank List
http://www.fdic.gov/bank/individual/.../banklist.html

Means bugger all. Everyone knows about US banks falling over - even the biggest had to be rescued.

What is important is to now pick the ones who are going to survive, prosper and then invest.

Westpac Bank nearly went broke in the early 1990s. It had to be recapitalised just like PGC. Kerry Packer was involved from memory.

Share price got down to $3.00 and today it is $35.00 and it has paid a dividend every year.

Those who were brave and bought then are enjoying a dividend yield of over 35% pa.

[zigzag]

Sorry, I was trying to be funny ... A second kiwi bank ... i.e. NZ doesn't have many banks and another one would be nice and they would leverage off each others advertising as being kiwi banks (and not Ocker ones).

I had a funny feeling you weren't being serious, but I ignored it, as one does now and again. Besides, Marac wouldn't be the second Kiwi bank, as we also have TSB and SBS(Southland Building Society) Bank.