NZX - NZ Exchange

**blackcap** · 17-08-2016, 02:13 PM

Originally Posted by Balance

https://www.nzx.com/companies/NZX/announcements/287329

Going nowhere.

The 5 year chart says it all really. Going nowhere indeed.

**Balance** · 23-08-2016, 11:55 AM

Originally Posted by Balance

It is indeed Mark Weldon envy.

By any measure (save monopoly profits at the expense of a vibrant and growing stock market), the NZX has gone backwards and downhill but Mark gets a big share of that monopoly profit - so very very envious.

NZ is already paying the price and future generations will continue to pay the price as all the rewarding and well-paying jobs and opportunities in the financial sector disappear overseas.

Think about it.

http://www.nbr.co.nz/article/weldon-...month-b-193240

Rich irony - Wunderkid (praised to high heavens by many when he was cranking up NZX fees and charges while cutting back on services, with no heed to the long term consequences of what it means for the NZX as a business) now being revealed for one dimensional loser he really is - disaster at Media Works, and now having to admit his GeoP listing on the NZX is going no way and need to try and list on ASX for 'better access to capital and liquidity'!

Does not auger well for the NZX which cannot now increase charges and fees as other market participants are threatening to take it to the Commerce Commission for abuse of monopoly position and which is seen as a second choice for listing behind ASX.

No wonder Bennett had to use the patriotism angle to beg NZ companies not to forsake NZX.

**Hectorplains** · 04-10-2016, 09:21 AM

http://www.stuff.co.nz/business/8492...nd-of-the-year

Bye bye Mr Bennett, apparently in his parallel universe the business has been rebuilt on 'a strong platform for growth' and NZX is an attractive means to access capital.

**Hectorplains** · 04-10-2016, 03:16 PM

http://www.nzherald.co.nz/business/n...ectid=11722174

3/10.

**Balance** · 05-10-2016, 08:36 AM

Originally Posted by Hectorplains

http://www.nzherald.co.nz/business/n...ectid=11722174

3/10.

So much for those who praised NZX under Mark Weldon as he and the useless Board pursued a profit only strategy. So typical of the short sightedness lack of vision of the so called business elite of NZ - bugger up the future for short term gains.

Notice how one of Mark's biggest cheerleaders and supporters, Brian Gaynor, has belatedly admitted NZX was too one-dimensional in its strategy? Disgraceful lack of judgement.

Well, enjoy the knackered entity which is NZX - cannot increase charges without incurring complaints to the Commerce Commission (note how quickly NZX backed down re NZAX fees?) which could really then cripple its fee structure and after all the partial privatisations in 2014/5, nothing left in the kitty.

Credit to Tim for sticking it out for 5 years - not solely his fault he took over a buggered up NZX.

**Balance** · 05-10-2016, 11:36 AM

Originally Posted by Hectorplains

http://www.stuff.co.nz/business/8492...nd-of-the-year

Bye bye Mr Bennett, apparently in his parallel universe the business has been rebuilt on 'a strong platform for growth' and NZX is an attractive means to access capital.

And he is such a generous soul that having built said 'strong platform' for growth, he will now leave it to someone else to take credit?

Almost as laughable as Mark Weldon's comments when he resigned : "The organisation is in such good shape, with momentum building that will provide a positive working environment for the next CEO."

Good shape? Demoralized staff from the revolving door staff policy, profit momentum sucked dry by overcharging market participants and best of all, a stinking mess and scandal in Clear Grain/Ralec litigation which revealed for all the dysfunctional organization NZX was under Mark Weldon.

And here's the clueless Chairman praising Weldon to stinking high heavens :

“Mark has effectively been founder, as well as leader, of NZX, as we now know it, since 2002. Under his stewardship, NZX has grown from a small and threatened mutual exchange to a thriving information, markets and infrastructure business, with a range of integrated business lines, a healthy balance sheet and a valuable set of options for future growth,” said NZX Chairman Andrew Harmos.

“Following the successful execution of NZX’s second five-year strategic plan, Mark has indicated that the time is now right for him to leave the company. The Board respects his decision. We have been privileged to have someone with that amount of talent, energy and commitment as the driving force behind NZX’s first critical decade," Harmos said.