NZX - NZ Exchange

[bull....]

http://www.nzherald.co.nz/business/n...ectid=11794238

nice article by gaynor.

diffenately nzx does nothing to encourage listings and liquidity is a joke most of the time as well. get a real exchange

[Balance]

http://www.nzherald.co.nz/business/n...ectid=11794238

nice article by gaynor.

diffenately nzx does nothing to encourage listings and liquidity is a joke most of the time as well. get a real exchange

Extremely rich coming from Brian Gaynor - he was effusive in his support and praise of the NZX under the 'leadership' of Mark Weldon.

Weldon was the architect of the NZX as it is today - a fee gouging and service minimization entity with no consideration whatsoever of its wider role as a facilitator of capital flows through the NZ economy.

As long as the NZX sp was going up, the likes of Brian Gaynor could not be happier - and happy to be blind and oblivious to the problems and flaws already clear to objective observers. Even Weldon's dictatorial staff management style (his way, right or wrong, or the highway) was considered to be completely acceptable.

Now that the NZX sp has gone nowhere and the NZX looks bereft of any ideas, and the goose has come home to roost, without the ability to lay any more golden eggs, Mr Gaynor is bringing out the violin to cry out a soulful tune.

All too late. The harm has been done and it is going to take a long long time for the NZX to regain credibility as an exchange worthy of support.

The anguish cry of Mr Bennett for New Zealand companies to support the NZX as it was patriotic to do so - that was the cry of surrender.

[Balance]

Insightful comments from NBR readers :

Reminds one of Telecom - abuse of its monopoly to milk profits from NZers in favour of its American masters. Took Helen Clark to break that disgraceful monopoly - and NZ is still years behind countries like Korea and Vietnam.

NZX needs the same sort of surgical strike by the government.

Hit the nail on the head here.

Monopoly pricing, to drive up short term profit, during Weldon's tenure only served his interests. The board were more than asleep at the wheel, ignorant or short focused themselves.

How could you possibly grow a business, where the entry and ongoing costs are too high. This is the main reason the only companies that go public these days tend to be overpriced, with former owners using the listing as an exit hatch.

[bull....]

Insightful comments from NBR readers :

Reminds one of Telecom - abuse of its monopoly to milk profits from NZers in favour of its American masters. Took Helen Clark to break that disgraceful monopoly - and NZ is still years behind countries like Korea and Vietnam.

NZX needs the same sort of surgical strike by the government.

Hit the nail on the head here.

Monopoly pricing, to drive up short term profit, during Weldon's tenure only served his interests. The board were more than asleep at the wheel, ignorant or short focused themselves.

How could you possibly grow a business, where the entry and ongoing costs are too high. This is the main reason the only companies that go public these days tend to be overpriced, with former owners using the listing as an exit hatch.

here here spot on short term profits before long term welfare of the markets, the make up of the exchange is against the basic principles of how an exchange should work.
http://www.stuff.co.nz/business/8945...-disappointing

keep this up and we will have to rename the index maybe nzx30?

[Balance]

here here spot on short term profits before long term welfare of the markets, the make up of the exchange is against the basic principles of how an exchange should work. corrupt practices range right thru the supply chain.

http://www.stuff.co.nz/business/8945...-disappointing

keep this up and we will have to rename the index maybe nzx30?

Bunch of self-serving directors on the board, pre-occupied with their fees, share gains and own positions than with the greater good and health of the market - which ultimately will be good for the NZX.

Time for NZX (and government) to boot out the self-serving directors - especially the ONE who supported Weldon through his rampage of HR disasters, leaving the NZX bereft of experience, talent and continuity.

[Hectorplains]

Bunch of self-serving directors on the board, pre-occupied with their fees, share gains and own positions than with the greater good and health of the market - which ultimately will be good for the NZX.

Time for NZX (and government) to boot out the self-serving directors - especially the ONE who supported Weldon through his rampage of HR disasters, leaving the NZX bereft of experience, talent and continuity.

http://www.nzherald.co.nz/business/n...ectid=11819561

$3m salary plus a bonus payout... this on an NZX ebitda of $22.5m. Disgusting.