MPG - Metro Glass

[winner69]

If MPG directors hadn't gone on a reckless debt fueled goose chase across the tasman they'd be well positioned to buy this company on the cheap.

Sad that big shareholders ‘demanded’ this growth and set them off a reckless debt fuelled goose chase

Those shareholders eventually deserved what they got I reckon

[Beagle]

Sad that big shareholders ‘demanded’ this growth and set them off a reckless debt fuelled goose chase

Those shareholders eventually deserved what they got I reckon

It wasn't shareholders that signed off on the decision. Chairman and your mate Rigby, quite rightly in my opinion, are gone. Both abject failures. That business was clearly bought at the top of the cycle, something that should of been obvious under thorough due diligence. If you want to blame major shareholders you need to sheet this all the way back to private equity. Dressed up this cyclical company as a growth opportunity. Plain and simple they did "a Tegal".

[mfd]

Plain and simple they did "a Tegal".

Could be a wee while before the $1.23 takeover offer shows up.

[Beagle]

Could be a wee while before the $1.23 takeover offer shows up.

Best not to hold one's breath

[JeremyALD]

It wasn't shareholders that signed off on the decision. Chairman and your mate Rigby, quite rightly in my opinion, are gone. Both abject failures. That business was clearly bought at the top of the cycle, something that should of been obvious under thorough due diligence. If you want to blame major shareholders you need to sheet this all the way back to private equity. Dressed up this cyclical company as a growth opportunity. Plain and simple they did "a Tegal".

Far worse than Tegal imo. At least tegel paid dividends and made a decent profit - and at the end of the day it lost IPO shareholders about 20%.

Meanwhile MPG has been a complete failure. They have more debt than the whole company is worth!!! They have lost IPO shareholders around 75% of their investment. They have spouted BS time and time again. Anyone remember their strategy day just over a year ago talking about all their targets and growth opportunities?

The decision to buy a business in Australia whilst their business frankly sucked in NZ was a dumb decision. And I'm sick of hearing them talk about 'capital work programmes'. They have been saying that every year with zero benefit.

Peter Griffin's also needs to go. How one company can be so useless with a 55% market share is astounding.

[couta1]

After unsuccesfully trying to push the sell button on my holdings 3 times (I was interupted twice and I chickened out the third time) I decided it wasnt meant to be so I bought a few more at $0.38 instead ...time will tell if averaging down was was a big mistake...

I can teach you to feel comfortable selling any loss big or small, the Couta school of slash n burn will stand you in good stead to face any future pain, are you ready to walk through the furnace.

[Beagle]

Far worse than Tegal imo. At least tegel paid dividends and made a decent profit - and at the end of the day it lost IPO shareholders about 20%.

Meanwhile MPG has been a complete failure. They have more debt than the whole company is worth!!! They have lost IPO shareholders around 75% of their investment. They have spouted BS time and time again. Anyone remember their strategy day just over a year ago talking about all their targets and growth opportunities?

The decision to buy a business in Australia whilst their business frankly sucked in NZ was a dumb decision. And I'm sick of hearing them talk about 'capital work programmes'. They have been saying that every year with zero benefit.

Peter Griffin's also needs to go. How one company can be so useless with a 55% market share is astounding.

Agree 100% (Tegal reference was simply to the fact that it was also touted as a growth company). MPG a recidivist offender when it comes to being completely disingenuous.

[RupertBear]

I can teach you to feel comfortable selling any loss big or small, the Couta school of slash n burn will stand you in good stead to face any future pain, are you ready to walk through the furnace.

The Couta school of slash n burn Keen to learn how to feel comfortable selling for a loss Couta but this Bear isnt ready to be cremated just yet

[Baa_Baa]

I can teach you to feel comfortable selling any loss big or small, the Couta school of slash n burn will stand you in good stead to face any future pain, are you ready to walk through the furnace.

Wow, that's genuinely generous of you. I'd wonder though if anyone with a handle "Trying to get outta here" and previously a number of postings about impetuous actions taking big capital hits on their investments, might post honestly about their overall start -> to-date portfolio % gains or losses, before I took their advice on selling this dog that I'd carried into the abyss and was paralysed not knowing what to do with it. I get it, I think, your generosity sharing and openness is enticing, but is it also beguiling? I don't actually expect you to share your overall % fortune gains or losses here in the open internet, but I'd certainly ask you personally if I was considering taking your advice.

[winner69]

.......

MPG a recidivist offender when it comes to being completely disingenuous.

Might have to concentrate hard to suss what this actually means ...unlikely to be flattering though