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25-04-2015, 07:40 AM
#121
Yesterday's announcement that both the CEO and CFO are leaving the company at the end of August,confirms that yet again, the on going challenges at MGL continue.
I am not surprised!!!
Last edited by percy; 25-04-2015 at 07:49 AM.
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25-04-2015, 08:44 AM
#122
Great news!. If new CEO and CFO are any good , things could improve substantially; but legacy issues like all the free/cheap shares/options management got etc maybe hangover. Shepherd has 35 million shares and tobin 3 million plus.
Last edited by Joshuatree; 25-04-2015 at 08:47 AM.
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25-04-2015, 08:58 AM
#123
Originally Posted by Joshuatree
Great news!. If new CEO and CFO are any good , things could improve substantially; but legacy issues like all the free/cheap shares/options management got etc maybe hangover. Shepherd has 35 million shares and tobin 3 million plus.
JT There is an old Buffett saying which goes something like this,"When people with a good reputation join a business with a bad reputation,it is the business's reputation that remains."
Would the kind pedantic poster, fungus pudding, be so good as to post the correct quote.
Mercer has been "born again" so many times over the years I see how true Buffett's saying is.
What price do you think the CEO and CFO will be able to sell their shares for???
My guess is for very little.!!
Last edited by percy; 25-04-2015 at 09:27 AM.
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25-04-2015, 09:07 AM
#124
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.!
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25-04-2015, 09:36 AM
#125
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.!
Running out of brooms.I think Shepherd's options convert /converted at 7 cents.
Looks as though your tiny position will get tinier!
This company should have been in the box seat, enjoying great years, supplying the wine and dairy industry, with stainless steel products in the boom years others have enjoyed.
Funny how people/companies who do not return phone calls seem to fare poorly.An early sell signal?
Well it is something I place importance with."It really works."!!!!!!!!!!!!!!!!!!
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25-04-2015, 09:55 AM
#126
Yes thanks for doing the ringing Percy. . Of course it all depends if the new brooms are better with shareholders interests at heart.A good sector for good management to make a turnaround.
Lets see how this pans out and revisit this in 6 months /a year.
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27-04-2015, 07:55 PM
#127
Originally Posted by percy
Running out of brooms.I think Shepherd's options convert /converted at 7 cents.
Looks as though your tiny position will get tinier!
This company should have been in the box seat, enjoying great years, supplying the wine and dairy industry, with stainless steel products in the boom years others have enjoyed.
Funny how people/companies who do not return phone calls seem to fare poorly.An early sell signal?
Well it is something I place importance with."It really works."!!!!!!!!!!!!!!!!!!
Mind you I somehow think that the management was supplying the co with "cheap " money by exercising their oppies so that it stayed within its banking covernants .
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27-04-2015, 08:28 PM
#128
Originally Posted by whatsup
Mind you I somehow think that the management was supplying the co with "cheap " money by exercising their oppies so that it stayed within its banking covernants .
So have they run out of money, and resigning as they can not keep supporting the company???
Look for to their jobs being advertised;"The successful applicant will need a capital base of approx. $5 to $10mil to be able to continue management's practice, of financially supporting the company." lol.
I can't remember the last time the CEO and the CFO resigned from a company at the same time,especially when they both had significant holdings.
I hope for shareholders' sake I am wrong, but "job done" does not cut the mustard for me.
Last edited by percy; 27-04-2015 at 08:56 PM.
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27-04-2015, 09:01 PM
#129
Originally Posted by Roger
Percy mate...just a heads-up. The former accountant of Mercer is a friend of mine and this really is a DOG of a thing and nothing has changed since he left...if anything its got worse. Senior management wouldn't know **** from clay if they fell into it and certainly wouldn't have the faintest idea how to manage their way out of it..is the word I got on this flea ridden mongrel.
Hopefully someone like Chalkie will do an article on Mercer.
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28-04-2015, 07:54 AM
#130
Originally Posted by Roger
Percy mate...just a heads-up. The former accountant of Mercer is a friend of mine and this really is a DOG of a thing and nothing has changed since he left...if anything its got worse. Senior management wouldn't know **** from clay if they fell into it and certainly wouldn't have the faintest idea how to manage their way out of it..is the word I got on this flea ridden mongrel.
Originally Posted by Roger
Just reporting what I was told in good faith. He's a good bloke and a straight shooter and doesn't talk B.S. in my opinion.
Originally Posted by Roger
W69 I couldn't help myself and had a quick look back at the financial results for the last five years. SP and results speak for themselves. Really this company seems all but immune to all known flea treatments with one year exception when for reasons unknown the fleas seemed more interested in biting elsewhere. Good companies deliver results and extremely poor ones deliver one excuse and promise after another.
Originally Posted by Roger
Head office management have a HUGE sense of entitlement is the insider word I got. That and NFI what they're doing.
You can rely on this politically incorrect old dog to give a good loud bark when required
Last edited by Beagle; 28-04-2015 at 07:56 AM.
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