HGH - Heartland Group Holdings

[Xerof]

Yes, you can have a partial gap-filler, but very satisfying if it does it to the pip, 118 in this case

There is no time limit on these things, and I never have half a pint, do you?

But one needs to keep an open mind and watch the action as it plays out

It's put in a low of 122, so now look for the higher lows for confirmation of the support level perhaps. 122 could have been where the caulking gun ran out of sealant

[winner69]

Here's a nice exercise for you.
1] Find out whether any of the CEOs of the Australian banks are paid under A$6mil a year.
2] Let us know what they are paid.
3] Find out what the CEOs of Co-Op Banks,TSB,and SBS are paid.
4] Compare the pay rates of CEOs of PGW,SML,SCL,and SEK.
5]Then work out how many years I would have to work to earn the same as the lowest paid CEO.!? lol.\

Good questions Percy. Here goes -

1) and 2) if size mattered Greenslade would be nowhere near $1.6m. As the custodian of a corner dairy sized finance company relative to those mentioned he worth about $200k .....but seeing he needs to be paid more than CFO lets give him $600k

3) from what I can find out the $1.6m Greenslade gets would cover the CEO rem for 2 of those institutions mentioned.

4) what 1) and 2) tell us is that bankers think that they are so important that they need to be paid outrageous fortunes. Greedy lot and a scourge on society. One day the world will see what they really are and bring them into line, unfortunately only after they have stuffed the world up again

4) continued ...... the good guys who run companies who actually make and do things get a decent salary for doing that. Good hardworking honest souls who toil hard being productive as opposed to shuffling financial assets around. They deserve a pat on the back.

5) best answered this way. If your HNZ dividend was your sole source of income (you can spend the national super on a few treats but doesn't count as income) you would need to own 8% to 9% of Heartland to get what Greenslade gets paid - outrageous

But at the end of the day you are a good soul Percy and the type of person that makes NZ what it is. That can't be measured in monetary terms but its heaps.

[percy]

Always difficult subject what CEOs get paid,compared with what us Percys earn.
In his defence we could say he has been responsible for adding at least $200mil to the market cap of HNZ.[or 43cps]
Indeed value for money for shareholders.

[Xerof]

If you can believe what you read in the paper, F&PF will be bought by KKR...the "investment banking source", who sang like a canary to NBR, reckons everyone else, including HNZ are wasting their time.

Such arrogance and complete lack of confidentiality is mind-boggling, but then almost every new item in the media these days emanates from a leaked document, so why should I care, hence telling you whats behind the paywall

[winner69]

If you can believe what you read in the paper, F&PF will be bought by KKR...the "investment banking source", who sang like a canary to NBR, reckons everyone else, including HNZ are wasting their time.

Such arrogance and complete lack of confidentiality is mind-boggling, but then almost every new item in the media these days emanates from a leaked document, so why should I care, hence telling you whats behind the paywall

Did you ever read "Barbarians at the Gate" ---- good story of how the rat bags KKR work

I got lectured at a highly powered management course once. The guy running it said we should read it as it was a great case study in successful negotiation, I said I had read it and it was a great case study in arrogance and corporate greed and what's wrong with the financial world today (back then so things haven't changed) ----- tut tut winner I got told.

[Beagle]

Good questions Percy. Here goes -

1) and 2) if size mattered Greenslade would be nowhere near $1.6m. As the custodian of a corner dairy sized finance company relative to those mentioned he worth about $200k .....but seeing he needs to be paid more than CFO lets give him $600k

3) from what I can find out the $1.6m Greenslade gets would cover the CEO rem for 2 of those institutions mentioned.

4) what 1) and 2) tell us is that bankers think that they are so important that they need to be paid outrageous fortunes. Greedy lot and a scourge on society. One day the world will see what they really are and bring them into line, unfortunately only after they have stuffed the world up again

4) continued ...... the good guys who run companies who actually make and do things get a decent salary for doing that. Good hardworking honest souls who toil hard being productive as opposed to shuffling financial assets around. They deserve a pat on the back.

5) best answered this way. If your HNZ dividend was your sole source of income (you can spend the national super on a few treats but doesn't count as income) you would need to own 8% to 9% of Heartland to get what Greenslade gets paid - outrageous

But at the end of the day you are a good soul Percy and the type of person that makes NZ what it is. That can't be measured in monetary terms but its heaps.

Good post. $1.6m is right up there with what Chris Luxon the CEO at Air N.Z. is paid. A vastly more complex organisation with international operations and turnover approaching $5B and is ultimately responsible for millions of passenger's safety and managing a staff of 11,000. Its doesn't really stand up to too much scrutiny does it ?...oh but wait, he's a "banker" so that's okay then. Maybe there whould be a "W" in there somewhere if you catch my drift.

[mis chief]

Good post. $1.6m is right up there with what Chris Luxon the CEO at Air N.Z. is paid. A vastly more complex organisation with international operations and turnover approaching $5B and is ultimately responsible for millions of passenger's safety and managing a staff of 11,000. Its doesn't really stand up to too much scrutiny does it ?...oh but wait, he's a "banker" so that's okay then. Maybe there whould be a "W" in there somewhere if you catch my drift.

Is it wine o'clock then??? Think you should be very careful.

[winner69]

Percy's exercise again.

Lowest paid front line Hesrtland staff on about $50k (prob an over estimate anyway)

So 32 years working to get what MD gets in 1 year

The 32 gets bigger as no doubt MD salary goes up much faster than the mere workers.

Maybe everybody is happy. Some for just having a job and the other proud he can drink Ut if the pigs trough

Incredible eh

[Beagle]

He must be pretty clever though Winner because you and I know its a very risky game lending money on new vehicles with no deposit and no payment's for nearly a year...meanwhile interest is accruing on the loans and that vehicle has probably depreciated by 30% from its retail price before the first payment is even due, all up close to 40% underwater on that vehicle before the first payment is scheduled to be due.

You see this is a very cunning plan that only a top executive would understand. People can't be late on their payments if their first payment isn't due till 2H FY16 year !! so no delinquencies are possible for quite a while as no payments are due and management can slap themselves on the back, (or even pay themselves big bonus), for the superb job they're doing growing the loan book, pretty cunning eh ?

Remind me again, how many shares does Jeff own ?

[noodles]

He must be pretty clever though Winner because you and I know its a very risky game lending money on new vehicles with no deposit and no payment's for nearly a year...meanwhile interest is accruing on the loans and that vehicle has probably depreciated by 30% from its retail price before the first payment is even due, all up close to 40% underwater on that vehicle before the first payment is scheduled to be due.

You see this is a very cunning plan that only a top executive would understand. People can't be late on their payments if their first payment isn't due till 2H FY16 year !! so no delinquencies are possible for quite a while as no payments are due and management can slap themselves on the back, (or even pay themselves big bonus), for the superb job they're doing growing the loan book, pretty cunning eh ?

Remind me again, how many shares does Jeff own ?

What you are implying scares me a little. So I looked up the last annual accounts.

Firstly, he has not been buying of late. He took up his SPP last year.

He has a beneficial interest in 880K shares. So not a great deal compared to his salary.

However, the rest of the board own a good percentage of the company. We should take some comfort from that.