MPG - Metro Glass

[Beagle]

Hmmmm New CFO starting late January 2020 brings a "wealth" of 17 years experience from...you guessed it, the highly "successful" Fonterror, (deliberately misspelt) https://www.nzx.com/announcements/344311 He was obviously super successful at helping resolve the financial problems with Fonterror's overseas operations so why would we doubt his ability to help solve MPG's Australian financial problems or their possible pending N.Z. issues ?

But no worries because he has a "massive" vested interest in making this company and appointment work http://nzx-prod-s7fsd7f98s.s3-websit...914/313890.pdf This gives me "tons" of "confidence" going forward lol

[winner69]

Hmmmm New CFO starting late January 2020 brings a "wealth" of 17 years experience from...you guessed it, the highly "successful" Fonterror, (deliberately misspelt) https://www.nzx.com/announcements/344311 He was obviously super successful at helping resolve the financial problems with Fonterror's overseas operations so why would we doubt his ability to help solve MPG's Australian financial problems or their possible pending N.Z. issues ?

But no worries because he has a "massive" vested interest in making this company and appointment work http://nzx-prod-s7fsd7f98s.s3-websit...914/313890.pdf This gives me "tons" of "confidence" going forward lol

Looks like he already had 2000 when he signed up

Under water on the 10,000 he’s bought since

Even more incentive to do well

But he’ll be OK when the attractive LTIs kick in eh

[winner69]

When I read this Metro thread it reminds me so much of the Pumpkin Patch thread of a few years ago

Don’t think Metro train going to crash but we kept saying that about the Patch train.

[Balance]

When I read this Metro thread it reminds me so much of the Pumpkin Patch thread of a few years ago

Don’t think Metro train going to crash but we kept saying that about the Patch train.

They really need to do a rights issue, clean out the debt so that the company can surface from the suffocating embrace of the banks.

Given the track record however of the board and management, who is going to underwrite or pump in more money?

Fletcher Building - where are you!!???

[winner69]

Hey Beagle — being a CFO of Fonterra seems a pre-requisite to being involved with Metro

The new director was ‘CFO and Director of Strategy with the Fonterra Co-operative Group from 2001 to 2007.’

Getting a bit spooky

While on the subject of Metro Directors was Peter Griffiths any good at Z

[winner69]

Economist on radio this morning saying the current building boom is head to the BUST part of boom bust cycle

Something to do with migration numbers being a lot lower than what Stats NZ were guessing previously.

[Lease]

Economist on radio this morning saying the current building boom is head to the BUST part of boom bust cycle

Something to do with migration numbers being a lot lower than what Stats NZ were guessing previously.

Very strange FBU has performed strongly lately, don't understand MPG..................................

[Arbroath]

Even STU are holding in there despite a terrible announcement the other day....shows the benefit of de-risking the balance sheet.

NZ residential consents though still on fire in year to December at 37,538 a post 1970's record and Auckland at 15,154 an outright record. Surely MPG can keep paying off debt and get the balance sheet under control next 12-18 months....

[Beagle]

Markets doing incredibly well in the circumstances and close to all time high's but MPG just hit yet another fresh all time low at 24.5 cents.

I would have thought with supply chain issues developers importing cheap glass from China would be struggling and turning to good old made in New Zealand instead but apparently not.

[winner69]

Markets doing incredibly well in the circumstances and close to all time high's but MPG just hit yet another fresh all time low at 24.5 cents.

I would have thought with supply chain issues developers importing cheap glass from China would be struggling and turning to good old made in New Zealand instead but apparently not.

Float glass no longer made in New Zealand

There’s one plant in Australia and thats a dog ......CSR hocked Viridian off to Crescent Capital last year ...so in private equity hands