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WOW - Woolworths
Any guesses who the ex-Director may be?
Ex-Woolworths executive charged in fraud case
A former Sydney-based senior executive with Woolworths has been charged with multimillion-dollar fraud.
The 57-year-old man was arrested at his home in the northwest Sydney suburb of Castle Hill on Thursday after an investigation spanning more than eight years.
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He has been charged with multiple counts of being a director cheating or defrauding, conspiracy to cheat or defraud, receiving a corrupt commission, corrupt inducement for advice, and money laundering.
The man's employment with Woolworths ceased about 10 years ago, the Woolworths spokeswoman said.
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It was likely the man had regularly travelled overseas in his role representing one or a combination of the Woolworths-operated businesses - Big W, Dick Smith Electronics, Dan Murphy's and BWS - the spokeswoman said.
Officers attached to strike force Whittleford, established in 1999, worked with numerous overseas law enforcement agencies, judicial bodies and financial institutions as part of their investigations, NSW police said.
Death will be reality, Life is just an illusion.
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Member
WOW what a stock
The most recent update was for 21 - 25% profit growth for 2008.
Why a stock like WOW would get flogged from $35 to $23 is beyond me but who's complaining.
Crusaders: Super 14 Champions 2008
SUPER Champions 1998, 1999, 2000, 2002, 2005, 2006, 2008
NINE finals, SEVEN titles
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Member
Amazing , a $33 billion company, sales more than NZ GDP, and noone has anything to say, LOL!
Last edited by cantab; 13-08-2008 at 10:12 PM.
Crusaders: Super 14 Champions 2008
SUPER Champions 1998, 1999, 2000, 2002, 2005, 2006, 2008
NINE finals, SEVEN titles
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OK cantab....
I always look at Woolies as a safe, defensive, exceptionally well run business that, along with Coles, simply dominates the space they operate in.
With such domination in relatively small markets, I keep thinking they have to go ex-growth any time....problem is I've been thinking that for about 5 years, yet they keep producing the goods.
I'm interested in this Indian JV they have. Not material at the moment, but if it were to gain some traction....look out!
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Member
Hi Huang Chung, I understand Woolies have a team of 30 or so people sitting in a room fulltime looking at possible acquisitions around the globe. It seems like they do need the odd acquisition from time to time to maintain a high growth rate.
Crusaders: Super 14 Champions 2008
SUPER Champions 1998, 1999, 2000, 2002, 2005, 2006, 2008
NINE finals, SEVEN titles
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Yet they're not an overly aquisitive company, and what they do acquire tends to be in Oz/NZ.
How much more can they squeeze out of 24 million people?
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still on 20 PE.
i wouldnt call it cheap or value just yet.
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Member
2008 Profit up 26%
Originally Posted by Huang Chung
Yet they're not an overly aquisitive company, and what they do acquire tends to be in Oz/NZ.
How much more can they squeeze out of 24 million people?
Listening to the webcast, in response to a question, it was confirmed that 2009 profit guidance of +11 to 14% and high single digit sales increase reflects longer term growth without an acquisition. It was clear they are looking to do an international acquisition.
Last edited by cantab; 27-08-2008 at 12:33 AM.
Crusaders: Super 14 Champions 2008
SUPER Champions 1998, 1999, 2000, 2002, 2005, 2006, 2008
NINE finals, SEVEN titles
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Looks like WOW is getting slammed now, but with a pe of 20 I guess that it would be too much for it to escape this fire storm!!!!!!!!!!!!!!!!
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Well, it's high on my list of stocks that I'd like to buy if it ever gets cheap enough so that's some sort of good news to us non-holders!
Hardly the end of the world as far as shareholders are concerned either, with P/E still over 18 and comfortably above 52 week low.
Last edited by macduffy; 19-11-2008 at 04:08 PM.
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