LPC

[Snoopy]

I guess you would do the same as me if you owned LPC 100%;take the cash,then put the port business either up for sale/lease as is where is?

The ironic thing is Percy, I soon will own 100% of the company. That's because I am a stakeholder in the 'Peoples Republic of Christchurch' which I help fund through my rates bill.
Raf Manji, the CCC Financial Controller, will soon be managing my LPC interests, after his arm's length clean out of those 'filthy capitalistic scum' minority shareholders. And good on him for dealing to them!

The City Council is financially cash strapped. So what I would do is dip into the LPC cash piggy bank to equalise the pain with the rest of the city. Then I would sell down 49% of what was left - with a preference for resident Cantabrians as shareholders, of a new lean LPC, to repay council debt. Finally I would create a special 'CCC share' to ensure the remaining 51% could never be privatised.

I wouldn't sell 'as is where is'. I would have to leave the port with the ability to rebuild a no frills version of Cashin Quay, just not the 21st century dream. Then I would have a separate float to create a new company to build better cruise ship facilities in Akaroa. Maybe that could be 100% sold off? LPC doesn't seem to be interested in tourists anymore.

SNOOPY