NZX - NZ Exchange

[bull....]

"The board is of the view that the supported candidates would bring greater diversity and a wider range of skills to the board, particularly in the areas of funds management and clearing, where Mr Falkenstein has limited experience," Miller said.

http://www.nzherald.co.nz/business/n...ectid=11868168

Sounds like NZX is more concerned about being a fund manager than an exchange.

[bull....]

A clear solution to the NZX's poor performance is that it should be broken up into two separate companies, one operating the stock exchange and the other holding its funds management business. Brain Gaynor states


http://www.nzherald.co.nz/business/n...ectid=11873388

NZX is entering the fund management business becuase of the kiwisaver gravy train you know that Brain.

[Balance]

A clear solution to the NZX's poor performance is that it should be broken up into two separate companies, one operating the stock exchange and the other holding its funds management business. Brain Gaynor states


http://www.nzherald.co.nz/business/n...ectid=11873388

NZX is entering the fund management business becuase of the kiwisaver gravy train you know that Brain.

All bull**** of the smelliest degree from Brian Gaynor - the man who praised Weldon as a 'breath of fresh air' and now, he cannot stand the stench of stagnation left behind by the blue-eyed wunderkind with his 'my way or the highway' money grabbing gross mis-management of the NZX.

And the best example of Brian's complete hypocrisy is these two paragraphs in the article :

" As a company, the NZX has also delivered very poor investment returns. Over the past five years it has had a total gross return of only 17.6 per cent compared with 112.7 per cent for the benchmark NZX50 Gross Index. Over those five years the NZX was the worst performing company of the 38 that have been included in the NZX50 Index for the full period. Falkenstein's Just Water International achieved a 185.0 per cent return over the same five years, although his company is much smaller than the NZX and has been the subject of an unsuccessful takeover offer"

Go back 10 years, Brian (the man who preaches about long term investing horizon), and the NZX delivered over 300% return while JWI LOST 62%.

So typical of Brian and Milford - Milford has been selling (or has already sold) out of NZX so Brian is now bad-mouthing the stock (well-deserved but should have been done so when Weldon was there feathering his nest-egg while buggering up the exchange) to justify their decision. One word for that kind of behavior from Milford and Brian Gaynor - DILIGENT.

[bull....]

Brian not happy another competitor in his space? I can understand the NZX getting into this space cause there bloody hopeless at running an exchange as a business ( poor liquidity, lack of interest by business to list on the NZX issues they have for years failed to address) - shareholders can hope they do better with there fund management business, shouldnt be hard if they grow kiwisaver such an easy gravy train with high fees all they need is scale.

[Balance]

Brian not happy another competitor in his space? I can understand the NZX getting into this space cause there bloody hopeless at running an exchange as a business ( poor liquidity, lack of interest by business to list on the NZX issues they have for years failed to address) - shareholders can hope they do better with there fund management business, shouldnt be hard if they grow kiwisaver such an easy gravy train with high fees all they need is scale.

Brian is attempting to blame the current NZX malaise on current board and management when just about all the faults lie with the previous board and Weldon (wunderkid who ran the exchange single handed, hiring and firing at will*). Brian was profusive at the time in his praises of the previous board and Weldon - until the debacles at Clear Grain and Media Works shone a very very bright light on the gross mismanagement at the NZX leading to the current malaise.

[bull....]

Brian is attempting to blame the current NZX malaise on current board and management when just about all the faults lie with the previous board and Weldon (wunderkid who ran the exchange single handed, hiring and firing at will*). Brian was profusive at the time in his praises of the previous board and Weldon - until the debacles at Clear Grain and Media Works shone a very very bright light on the gross mismanagement at the NZX leading to the current malaise.

Tim Bennett came after Mark Weldon and still nothing changed? One has too wonder who really is running the NZX? the brokers or the board of brokers lol.

I dont really see anything changing under a new CEO as they have to answer and get approval from the board of brokers.

NBR newspaper is currently doing an opinion piece on this very thing.

[Balance]

Tim Bennett came after Mark Weldon and still nothing changed? One has too wonder who really is running the NZX? the brokers or the board of brokers lol.

I dont really see anything changing under a new CEO as they have to answer and get approval from the board of brokers.

NBR newspaper is currently doing an opinion piece on this very thing.

Tim Bennett spent his time there 'rebuilding' the NZX - Weldon left it devoid of management depth and experience, devoid of ability to increase fees and charges (NZX is under threat from Commerce Commission investigation into monopolistic price gouging after fee increases went completely out of control under Weldon) but with a requirement to increase expenses to make NZX work. Then, there's the mess with Clear Grain.

Tim's parting words in the parallel universe he lives in when he resigned : "the business has been rebuilt on 'a strong platform for growth and NZX is an attractive means to access capital!"

Not as delusional however as exChairman Andrew Harmos's praise of Weldon when he resigned - describing NZX as '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'.

Poor old Tim found that Harmos meant the 'thriving' to be actually 'diving' and the 'valuable' had already gone with the $$$ in share options extracted by Weldon, courtesy of the sleeping board of directors.

[bull....]

Tim's parting words in the parallel universe he lives in when he resigned : "the business has been rebuilt on 'a strong platform for growth and NZX is an attractive means to access capital!"

not exactly reality obviously didnt read the ASX business model

The main objective of the Australian Securities Exchange (ASX) is to maintain its dominance of the listings market in Australasia while encouraging more listings from Southeast Asia. Low listing costs and strong performance are the ASX’s competitive advantages. Two-thirds of ASX constituents are small and mediumsized enterprises (SMEs) with market capitalization under AU$100 million.
from EY

think even chapman trip were saying NZX is on a slippery slope?
http://www.nzherald.co.nz/stock-take...ectid=11801612

must explain why they are so hell bent on finding other businesses to run they have given up on the NZX?

[peat]

here is a link to Tony Falkensteins statement regarding his bid to be on the board.

https://www.nzx.com/files/attachments/259840.pdf


The board size could easily grow and so its not even as if Tony Falkenstein threatens one of the existing directors. Simply another voice !! Why not?

[Balance]

here is a link to Tony Falkensteins statement regarding his bid to be on the board.

https://www.nzx.com/files/attachments/259840.pdf


The board size could easily grow and so its not even as if Tony Falkenstein threatens one of the existing directors. Simply another voice !! Why not?

Leopards do not change their spots - that's why. Falkenstein is a class 'A' hypocrite who revealed his true colours during his attempt to privatize Just Water.