TRA - Turners Automotive Group [previously TNR - Turners Limited]

[mskv]

ACC only has a small amount in DPC.

Thanks, my info was that they sold down to the small holding they now have.

The $20m plus loan in Dorchester Finance had nothing to do with the shareholders loans. I also noted that they also lent on another loan $15m thats 35m plus in the last six months to Sept lent.

Hope they aren't loans bailing out St Laurence.

Understand that the St Laurence capital raising hasn't gone well.

[mskv]

Maybe best to sell off all the assets at book value, distribute the cash and leave the listed coy as a shell for backdoor listing opportunities.

Totally agree. Seems to be the only sensible way of making money from this company. Management seem to be heading it down this route as there seems to be no ability to run a profitable business now or in the future

[lewinsky]

The only one that seems to be making money out of DPC is the CEO who appears to be doing nothing, and the directors (other than Byrnes) whose definition of risk seems to be getting out of bed in the morning.
They announced at the Annual Meeting that they were selling the Investment Advisary business. Still no info on the sale. How long does it take to sell a small loss making company?
They must be relying on the Insurance business, but I can't see how this is going to prop them up. The RAM market is too small and they lost out to Sentinal big time two years ago.

Totally lost faith and the sp would indicate I am not alone.

If you are not relying on retail debenture money, now would be a great time to set-up a well run finance company.

[dsurf]

The CEO is a joke - His biggest crimes of which there are many!

1/ Getting into a public verbal warfare with the founder and large shareholder, which has singlehandedly destroyed 75% (was circa $2.00 when the tiff got public) of the owners (shareholders) money. Fantastastic value destruction

2/ Having no plan or direction - RAM did not work and they were very slow getting into the market. Was BS all the time by an academic who appears to know jack about business - first adopter, competiton (senate) , etc

3/ did not see the liquidity crisis, retail funding crisis, etc so destroyed the companies liquidity position & created huge financial & funding risk

I think a three year finance course could be written on the back of his performance as a guide of: lack of planning, lack of direction, lack of focus, lack of strategy, negative communications, value destructive policies, Risk & how to create it, NTA destruction, Governance, Reporting standards & transparency, etc etc

[Stranger_Danger]

Is dsurf Brent King? lol

[dsurf]

Is dsurf Brent King? lol

No I am not BKBurger - I will try & contain my factual rants!

[Billy Boy]

I will try & contain my factual rants!

No Dont
It's up to the individual to take out or make of it what they want.
Your opinion/rants have some (lots of) merrit.
Cheers & Beers
BB

[Stranger_Danger]

dsurf - nah, don't stop, it takes many views to make up a forum. I'm just gently mocking as you seem to absolutely hate the bloke, much like BK

[Nitaa]

dsurf.

I thought is was BK who startd the the public and media slanging of DPC CEO. Maybe im wrong. Alll the same what BK did was totally stupid unless he wanted the shareprice to drop for some other motive.

Although i thought BK has lost the plot he is still very clever in being able to use other peoples money to his benefit. How this pans out i have no idea. I am sure some others in the know have any idea on what is going to happen

[lewinsky]

Hi DSurf,

I commend you on the mildness of your opinion on this. I'd love to hear your real views.

by the way is DPC short for Dopes Performing Cluelessly?