HGH - Heartland Group Holdings

[Beagle]

I do feel for businesses in general and landlords. Everyone has bills that need paying and mortgage holidays still mean the mortgage needs to get paid back. However businesses that closed down so quickly, were they ever actually viable? I find some businesses survive off the smell of an oily rag.

In saying that and I hope I sound kind with this little bit…… I have owned very successful businesses and had enough capital that I could survive for over 6 months without any injections. I always feel people draw too much money out of their business to maintain their lifestyle. If anything, businesses never learn to budget properly and I hope this is the catalyst required to make businesses owners wake up. Hopefully I am right.

You're a prudent person as I would be bold enough to suggest are most of us on here who are trying to build a decent level of financial security into their lives. Unfortunately what you say is right and the majority of people regardless of whether they're in business or not live very close too or right up to the limit of their income and then some others live beyond their income and their homes become like an ATM machine and rising prices an opportunity to make another withdrawal. In my 40 years experience as an accountant I have observed that very few people live well below their level of income.

I think for so many business's to close permanently in September this tells you they were already very badly weakened from the previous 4 lockdowns in the Auckland region and simply couldn't go on. I fear for the mental health of these people. The ones I feel sorry for the most are those that invested their life savings into opening a new hospitality business in recent times, often investing hundreds of thousands with fitout, fixtures and fittings and a new commercial kitchen. They've put everything they had on the line and have had no real opportunity to build any reserves. Very sad times for them. The hospitality industry in Auckland will be gutted out by the time this is over.

[Ggcc]

You're a prudent person as I would be bold enough to suggest are most of us on here who are trying to build a decent level of financial security into their lives. Unfortunately what you say is right and the majority of people regardless of whether they're in business or not live very close too or right up to the limit of their income and then some others live beyond their income and their homes become like an ATM machine and rising prices an opportunity to make another withdrawal. In my 40 years experience as an accountant I have observed that very few people live well below their level of income.

I think for so many business's to close permanently in September this tells you they were already very badly weakened from the previous 4 lockdowns in the Auckland region and simply couldn't go on. I fear for the mental health of these people. The ones I feel sorry for the most are those that invested their life savings into opening a new hospitality business in recent times, often investing hundreds of thousands with fitout, fixtures and fittings and a new commercial kitchen. They've put everything they had on the line and have had no real opportunity to build any reserves. Very sad times for them. The hospitality industry in Auckland will be gutted out by the time this is over.

I agree with what you are saying. Mental health is so important. People need to really understand hospitality businesses and make sure they realise they own you rather than you owning it.

[Beagle]

I agree with what you are saying. Mental health is so important. People need to really understand hospitality businesses and make sure they realise they own you rather than you owning it.

Yeah I've seen that with my nephew who is owned by his two restaurants.

[daveypnz]

Big parcel @ $2.35 been taken out

[winner69]

From all accounts it’s getting harder and harder for businesses getting credit from the big banks. ANZ Business Outlook survey results say This month the worst/hardest/most difficult month ever
P

Hope Heartland and their touted ease of business lending is creaming it ….a bank that provides the needs of businesses easily

[dabsman]

Once CCCFA is fully implimented good luck anyone getting money off the banks!

[Rawz]

Once CCCFA is fully implimented good luck anyone getting money off the banks!

CCCFA is already here. Just getting tighter.

I do fair the new regulations will limit credit to some people.

But my biggest fair is SME's are next on the hit list.

[Beagle]

No place for fear in this market. Letting go of a few HGH the other day at $2.35 has already cost me money
Got to keep my paws off the sell button.

[Rawz]

Oh dear. Fair point

[TSpinoza]

Interesting to see Simply Wall Street https://simplywall.st/stocks/nz/bank...m_source=yahoo posting that at 2.35 HGH is undevalued by 13% = fair value guestimate of 2.70.