MPG - Metro Glass

[Beagle]

I still think there is value in this company - however, it might be wise to wait for the new CEO to get his/her feet under the table, remove the dead wood from the ranks and clean out the books.

Why holding now when they still need to write off a sh*tload of goodwill from their books - and I am sure they will!

Agreed..more dead driftwood than on all the beaches in Stewart Island...but apparently I am a very naughty dog for suggesting the CEO allowed this to happen.
Bottom line... it seems that it is very hard indeed to find truly skilled workers and management in the construction sector at present, just ask FBU directors lol.

[Louloubell]

The way it is going even I might ONE DAY be in the black!!!

[winner69]

The way it is going even I might ONE DAY be in the black!!!

Back under $1

Truely unloved ....even though probably 'valued' about right at the moment (but the market is always right eh)

[winner69]

Wonder if Nigel still actually working there anymore or just hanging around unril March 31st comes

[BlackPeter]

Wonder if Nigel still actually working there anymore or just hanging around unril March 31st comes

From memory - they planned to replace over the Christmas period a lot of equipment (like last year, where a profit downgrade was the result ...). Lets hope they learned from last year ...

Doesn't answer your question on Nigel, but I guess management overall certainly must be busy ...

[JeremyALD]

Wonder if Nigel still actually working there anymore or just hanging around unril March 31st comes

He might be working hard given the amount of shares he holds lol

[winner69]

He might be working hard given the amount of shares he holds lol

.....but working hard doesn’t seem to be bring him much extra from his shares ....if I was him I’d hock them off before they are only worth 85 cents each.

[winner69]

November residential building consents looked pretty good. Annual numbers now over 31,000 and even mention of a 15 year high in Auckland (headline but didn’t read what sort of high)

Non residential consents strong as well

Maybe flat is going to turn into a improved trend for Metro

Good stuff eh

[Beagle]

A LOT of apartments in those numbers though mate. Developers of those are notorious for looking for the cheapest possible components, the vast majority of which in many cases are made in Asia.

[JeremyALD]

So I'm finally giving up on MPG and selling my shares. Figured this is going no where and there's better places for my money.

Remains my worst ever performing share, but with a very valuable lesson. I may revisit it when they are through the strategy work and get a new CE