-
FELTEX. former directors Tim Saunders, Sam Magill, John Feeney, Craig Horrocks, Peter Hunter, Peter Thomas and Joan Withers,
-
Would it be a lot easier to compile a list of Sqeaky Clean directors?
-
Originally Posted by macduffy
Would it be a lot easier to compile a list of Sqeaky Clean directors?
LOL... I just spat out my beer throu my nose.
Funny how NZ is such a small market, yet we have so many useless top level management that are either incompetent and/or act in their own best interest instead of the shareholders best interest. No wonder NZers will continue to love properties and not equities.
Blame the investors? Dont think so. The whole financial advisor sector and the whole system needs an overhaul badly. How much wealth have the investment bankers and stockbrokers destroy in this financial crisis?
Dont forget Andrew Walker from DPC.
Last edited by Dr_Who; 25-11-2009 at 06:49 PM.
Having got ourselves into a debt-induced economic crisis, the only permanent way out is to reduce the debt – either directly by abolishing large slabs of it, or indirectly by inflating it away.
-
Originally Posted by minimoke
Would there be a queue for Nicky Watson?
Who would want a high maintenance 'thing' like that? End up spending than making - especially on her augments. Even Eric spat the dummy on this one!
Last edited by Balance; 25-11-2009 at 06:47 PM.
-
Last edited by Balance; 26-11-2009 at 08:01 AM.
-
Originally Posted by minimoke
Heres a copy of parts of my register. Sorry about the layout. I don't know how to paste excel in here. Use at your own risk.
Mascot Finance 3/03/2009 Brian Kreft Judith Lane Kenneth Lane David Stock
Orange Finance 18/08/2008 Doug Somers-Edgar
St Kilda Finance (All Purpose Finance) 24/08/2008 John Farry Peter Hutchison Olive Matson Stuart Perry Wendy Stein
Strategic Finance 8/08/2008 Kerry Finnigan Michael Hobbs Graham Jackson Marc Lindale Denis Thom David Wolfendon
Hanover Finance 23/07/2008 Mark Hotchin Eric Watson (Richard Long in the Ads)
Guardian Trust Cash Plus 29/07/2008
AMP Capital NZ Property Fund 1/08/2008
AXA Property 5/08/2008
Dorchester Finance Ltd 25/06/2008 Paul Byrnes Michael Fisher John Gosney Barry Graham
St Laurence Ltd 24/06/2008 Kevin Podmore Sandra Lee
Majority Shareholder: Dorchester Pacific
Dominion Finance Holdings 18/06/2008 Vance Arkinstall Richard Bettle Ann Butler Terrence Butler Rober Whale Paul Forsyth Majority Shareholder: South Canterbury Finance, ACC
IMP Diversified Income Fund 6/06/2008 Christopher Alp Ruth Richardson
Majority Shareholder: ICPL Ltd
Belgrave Finance Ltd 28/05/2008 Shane Buckley Stephen C Smith
Majority Shareholder: Investment Enterprises Ltd
OPI Pacific Finance (previous MFS Pacific Finance) 18/05/2008 Jason Maywald
Majority Shareholder: OPI Pacific Ltd
Fairview NZ (previous name Cymbis NZ) 13/05/2008 Owen Tallentire
Majority Shareholder: Sprinbook Trustees. Direcotr Wayne Douglas, Neal Nicholls)
Kiwi Finance 15/04/2008 Rodney Greenshill Barry Lambert
Majority Shareholder: Kiwi Capital / Tasman Capital - Director David Hopkins)
Lombard Finance and Investments 3/04/2008 Lawrence Bryant Sir Douglas Graham Hon William Jeffries Michael Reeves
Majority Shareholder: Lombard Group
MFS Boston (Subsidiary of Australina MFS)
Numeria Finance 17/02/2007 Neal Nicholls Owen Tallentire
Capital + Merchant Finance 29/11/2007 Neal Nicholls Colin Ryan Robert Sutherland Owen Tallentire
Capital + Merchant Investments 29/11/2007 Neal Nicholls Owen Tallentire
Geneva Finance 16/10/2007 David O'connell Peter Francis
Beneficial Finance 11/10/2007 Kane Oldham Mervyn Oldham Simon Oldham
Clegg and Co Finance 5/09/2007 Brian Clegg
LDC Finance 4/09/2007 Kevin Elliott Christopher Hardiman David Miller
Finance and Investments 5/09/2007
Five Star Consumer Finance 30/08/2007 Anthony Bowden Nicholas Kirk Marcus Macdonald
Property Finance Securites 29/08/2007 Daryll Queen Barnaby Sundstrum
Majority Shareholder: Property Finance Group Ltd
Nathans Finance 21/08/2007 Mervyn Doolan Keneth Moses Donald Young
Bridgecorp 2/07/2007 Bruce Davidson Rodney Petricevic Cornelius Roest Peter Steigrad Gary Urwin
Western Bay Finance 1/08/2006 Donald Johnston James Smylie Kaaren Smylie
Provincial Finance 1/06/2006 John Edilson Phillip Wheeler (colin Meades in the Ads)
National Financial 2000 1/05/2006 Anthoiny Bandbrook Carol Braithwaite Trevor Ludlow
mimi
What you are doing here is very dangerous. NOt all of these directors will feel that they failed and some will feel they are not to blame. Publically exposing them in such a list may lead to litigation if you cannot prove wrongdoing on their part.
That said, I agree a list or something needs to be compiled by an independant body of the securities comission or such like (something with teeth) to warn investors of potential traps.
Good on you Mimi but do be careful....
-
Originally Posted by blackcap
Good on you Mimi but do be careful....
Most miscreants appear in Brian Gaynor's column in the Herald, sooner or later.
Compiling a list of those who have received dishonorable mention, together with the date of publication, would appear to be fairly safe. You don't need to say anything else, and the Herald would be first in the firing line if anyone cut up rough.
-
Originally Posted by minimoke
Heres a copy of parts of my register. Sorry about the layout. I don't know how to paste excel in here. Use at your own risk.
Mascot Finance 3/03/2009 Brian Kreft Judith Lane Kenneth Lane David Stock
Orange Finance 18/08/2008 Doug Somers-Edgar
St Kilda Finance (All Purpose Finance) 24/08/2008 John Farry Peter Hutchison Olive Matson Stuart Perry Wendy Stein
Strategic Finance 8/08/2008 Kerry Finnigan Michael Hobbs Graham Jackson Marc Lindale Denis Thom David Wolfendon
Hanover Finance 23/07/2008 Mark Hotchin Eric Watson (Richard Long in the Ads)
Guardian Trust Cash Plus 29/07/2008
AMP Capital NZ Property Fund 1/08/2008
AXA Property 5/08/2008
Dorchester Finance Ltd 25/06/2008 Paul Byrnes Michael Fisher John Gosney Barry Graham
St Laurence Ltd 24/06/2008 Kevin Podmore Sandra Lee
Majority Shareholder: Dorchester Pacific
Dominion Finance Holdings 18/06/2008 Vance Arkinstall Richard Bettle Ann Butler Terrence Butler Rober Whale Paul Forsyth Majority Shareholder: South Canterbury Finance, ACC
IMP Diversified Income Fund 6/06/2008 Christopher Alp Ruth Richardson
Majority Shareholder: ICPL Ltd
Belgrave Finance Ltd 28/05/2008 Shane Buckley Stephen C Smith
Majority Shareholder: Investment Enterprises Ltd
OPI Pacific Finance (previous MFS Pacific Finance) 18/05/2008 Jason Maywald
Majority Shareholder: OPI Pacific Ltd
Fairview NZ (previous name Cymbis NZ) 13/05/2008 Owen Tallentire
Majority Shareholder: Sprinbook Trustees. Direcotr Wayne Douglas, Neal Nicholls)
Kiwi Finance 15/04/2008 Rodney Greenshill Barry Lambert
Majority Shareholder: Kiwi Capital / Tasman Capital - Director David Hopkins)
Lombard Finance and Investments 3/04/2008 Lawrence Bryant Sir Douglas Graham Hon William Jeffries Michael Reeves
Majority Shareholder: Lombard Group
MFS Boston (Subsidiary of Australina MFS)
Numeria Finance 17/02/2007 Neal Nicholls Owen Tallentire
Capital + Merchant Finance 29/11/2007 Neal Nicholls Colin Ryan Robert Sutherland Owen Tallentire
Capital + Merchant Investments 29/11/2007 Neal Nicholls Owen Tallentire
Geneva Finance 16/10/2007 David O'connell Peter Francis
Beneficial Finance 11/10/2007 Kane Oldham Mervyn Oldham Simon Oldham
Clegg and Co Finance 5/09/2007 Brian Clegg
LDC Finance 4/09/2007 Kevin Elliott Christopher Hardiman David Miller
Finance and Investments 5/09/2007
Five Star Consumer Finance 30/08/2007 Anthony Bowden Nicholas Kirk Marcus Macdonald
Property Finance Securites 29/08/2007 Daryll Queen Barnaby Sundstrum
Majority Shareholder: Property Finance Group Ltd
Nathans Finance 21/08/2007 Mervyn Doolan Keneth Moses Donald Young
Bridgecorp 2/07/2007 Bruce Davidson Rodney Petricevic Cornelius Roest Peter Steigrad Gary Urwin
Western Bay Finance 1/08/2006 Donald Johnston James Smylie Kaaren Smylie
Provincial Finance 1/06/2006 John Edilson Phillip Wheeler (colin Meades in the Ads)
National Financial 2000 1/05/2006 Anthoiny Bandbrook Carol Braithwaite Trevor Ludlow
Hanover should have other directors like Greg Muir, Tipene O-Regan? In my view, they were even worse as they lent their names to the likes of Hanover, collect big fees and did bugger-all to protect investors.
You should also put in the directors of Feltex, MFS, Blue Chip etc?
-
Originally Posted by Dr_Who
LOL... I just spat out my beer throu my nose.
Funny how NZ is such a small market, yet we have so many useless top level management that are either incompetent and/or act in their own best interest instead of the shareholders best interest. No wonder NZers will continue to love properties and not equities.
Blame the investors? Dont think so. The whole financial advisor sector and the whole system needs an overhaul badly. How much wealth have the investment bankers and stockbrokers destroy in this financial crisis?
Dont forget Andrew Walker from DPC.
Indeed, NZers love properties and the losses in NZ this time round are just about all related to PROPERTIES!
Notice just about all the companies listed are finance companies? All got into trouble because of property lending, fraudulent activities and/or related party lending.
Property syndicates have also lost hundreds of millions. Ask those who invested into holiday resorts, Queenstown, beach-front properties, Fiji etc.
Where do the investment bankers and stockbrokers come into the equation?
Hope you guys do not have rental properties. Changes to tax rules on the way will see their values drop - like a stone as those who are geared run for the hills.
http://www.stuff.co.nz/business/indu...es-tax-options
-
Originally Posted by blackcap
mimi
What you are doing here is very dangerous. NOt all of these directors will feel that they failed and some will feel they are not to blame. Publically exposing them in such a list may lead to litigation if you cannot prove wrongdoing on their part.
That said, I agree a list or something needs to be compiled by an independant body of the securities comission or such like (something with teeth) to warn investors of potential traps.
Good on you Mimi but do be careful....
Thank you for your concern Blackcap.
Perhaps I should point out that this information is freely available in the public domain. The "date" in my list is the date the individual company's "troubles" were announced. The Directors are those that were directors at the date of the Troubles (though some have escaped my list as they resigned their directorships prior to me making my list), where as these firms have New Directors since the Troubles that I haven't listed. If they are incorrectly listed I'm more than happy to remove - and also more than happy to add anyone who I have missed out.
Individuals can make what they like from the list. They can do their own investigation on how many face civil or criminal proceedings; how many directorships each holds, how many inter-party transactions each firm was involved in etc etc. If they choose to Google a name to see what they can find out then so be it - there is so much in the public domain
This is also not a complete list by any means. I could for example put Equiticorp / Alan Hawkins at the top since, as I recall, he is, perhaps the most high profile NZ Director to have been imprisoned for his corporate shenanigans. Except I owe Alan a vote of thanks since it was he that enabled me to get into property.
We could also have the likes of Keran Unka who got 21 months for PAYE fraud. What about Bill Conway - he doesn't have much respect for the environment. He was the first to be jailed for his type of crime and I missed if he got jailed for his second lot of offences. And we can't even get started on the likes of Kelly Thompson who was done for DIC. Youre' perhaps not likely to invest in thier compnaies but you get a sense of what some Directors are up to.
Of course the Directors of Feltex (Tim Saunders, Sam Magill, John Feeney, Craig Horrocks, Peter Hunter, Peter Thomas and Joan Withers,) should be on the list. They are facing court action by disgruntled investors.
We should probably also have Mark Bryers (he's facing/faced 1,000 fraud charges) and Bob Bangerter (how many times has he been bankrupt?) of Blue Chip fame in there as well.
Blackcap, you're dreaming if you think the Securities Commission will do anything. Of all the dodgy dealings people have had with NZ companies how many have faced prosecution? How many people have been fingered for insider trading; how many have been done for creative prospectuses. Remember when Finance Companies were burning literally by the day, where was the Minister of Commerce - Dalziel was nowhere to be seen. We clearly can't rely on NZX - naming and shaming probably runs contrary to Mark Weldons bonus aspirations.
TA and FA will only take your share trading analysis so far. One of the other things that needs to be looked at is the background of the Directors (have they grasped their governance responsibilities) and senior management with their operational experience. Its a bear pit out there and I think investors are well served by exploring just who has a proven track record of looking after their interests.
Posting Permissions
- You may not post new threads
- You may not post replies
- You may not post attachments
- You may not edit your posts
-
Forum Rules
|
|
Bookmarks