MHM Automation - MHM

**Lola** · 11-07-2015, 09:40 PM

Originally Posted by percy

Excuse my memory playing up,but here is a case of history repeating itself.!!
South Canterbury Finance controlled by Southury Corp, owned by Alan Hubbard and Humphrey Rolleston lent Mercer so much money which Mercers coud not repay, issued more shares to Hubbard and Rolleston.Hubbard went bellie up and Rolleston took control with Murray & Co his partly owned merchant bank.
And today what a surprise;
New hotshot Mercers, the Slicer people,seem happy to get rid of a [gunna] CEO [I am gunna do this I am gunna do that]and replace him will a board member, who is also a Murray & Co person,yet the departing CEO stays on the board,and Tobin [who can't return phone calls] does not leave as promised,but appears to have been promoted.!!??
Is this the backroom work of Milford Asset? management???? or is it some company taking the piss??
All the time this disaster has been unfolding, people in the stainless steel frabricating sector, have been going gangbusters, supplying their wares to the wine industry and the milk production sector.

Little hope for this outfit . Some say
Could be Sins of the Forefathers.?

**Joshuatree** · 14-07-2015, 05:54 PM

Originally Posted by percy

Joshuatree.
Google; Murray & Co Christchurch,then our people,then read about Richard Rookes.
Clever man.
If at long last there is someone who can sort out this mess of a company,he looks to be that person..

Richard Rookes Director, Investment Banking

Cheers ;he does sound good ;at investing anyway. If he can turn his skills to making MGL profitable ,grrreat.

Richard joined Murray & Co in 2005 and has managed the firm’s equity and financing activities since 2009. This comprises managing the Rakaia Fund’s various investments, arranging mezzanine funding for other borrowers and sitting on the boards of investee companies. Before joining Murray & Co, Richard worked for two global investment banks in London where he gained experience in both the equity and credit divisions, providing him with a detailed understanding of value drivers, capital structuring and business fundamentals. Richard holds a Bachelor of Commerce from the University of Otago, a Diploma for Graduates (Marketing) and a Postgraduate Diploma in Commerce. Richard is a member of the NZ Institute of Directors. Richard is also a member of the Advisory Committee of St Georges Hospital Society.

**percy** · 12-08-2015, 07:46 AM

OMG.
Just when you thought things could not get any worst,they just did.!!

**Lizard** · 12-08-2015, 08:17 AM

Perfect. Big write-downs and focus on the technology businesses, along with the core fabrication. Seems to me this is exactly what needed to happen. Come back in 9 - 18 months time. Assuming it is still here, we might have something worth investing in for the turnaround - and at the right price...

**Joshuatree** · 12-08-2015, 08:45 AM

Originally Posted by Joshuatree

They paid so little or nothing for their shares whatever they get will be cream at shareholders expense.
So many companies get turned around with the right management.
This is a good thing. Keeping my tiny position.
Bring on the new BROOM.!

NBAW new broom at work

**whatsup** · 29-02-2016, 05:49 PM

Is this the end story being played out now ?

**Joshuatree** · 29-02-2016, 05:51 PM

whatsup?. here i will make sense for you
Mercer Group Limited - Half Year Prelim Result ...

**Joshuatree** · 29-02-2016, 05:56 PM

Looks like they are doing everything they can to survive,...... reducing cost base and focusing on just two products;..... and come out another side. good luck to them inheriting this basket case.