FBU - Fletcher Building

[Biscuit]

Used to be a good company, one I traded quite a lot years ago. Sad to see it so thoroughly lose the plot over the last several years or so.

[JeremyALD]

Used to be a good company, one I traded quite a lot years ago. Sad to see it so thoroughly lose the plot over the last several years or so.

How on earth shareholder's have been so forgiving is beyond me. There have been multiple downgrades and the SP is not much lower than it was a couple years ago.

[blackcap]

Used to be a good company, one I traded quite a lot years ago. Sad to see it so thoroughly lose the plot over the last several years or so.

You would think that Ralph's position has become untenable. However with this company anything goes seems to be the motto.....

[winner69]

Breach of banking convenants a bit embarrassing isn’t it .....for one of NZs biggest companies

Jacinda should nationalise it and turn it into Kiwi Build.

[winner69]

FBU had about $2billion of debt last accounts and proudly got another $345m from their bankers a few months ago

[minimoke]

FBU had about $2billion of debt last accounts and proudly got another $345m from their bankers a few months ago

In its day Air NZ needed around $885m which Labour coughed up

Labour paid $690 for NZ Rail

Back in the day Labour (or Big Jim) pumped $123m to set up Kiwibank.

A residential property company seems within the bounds of possibility.

[Beagle]

In its day Air NZ needed around $885m which Labour coughed up

Labour paid $690 for NZ Rail

Back in the day Labour (or Big Jim) pumped $123m to set up Kiwibank.

A residential property company seems within the bounds of possibility.

I agree. I think the board need to urgently cease any future major construction projects and concentrate on building houses and look to flick off that division ASAP.

[Balance]

I agree. I think the board need to urgently cease any future major construction projects and concentrate on building houses and look to flick off that division ASAP.

Hence, the discussions with potential buyers as alerted to by NBR a few days ago?

Personally I think it will be hell of a pity for Fletcher to be further broken up and down-sized but the Board really needs to find a solution to this bleeding.

[macduffy]

I agree. I think the board need to urgently cease any future major construction projects and concentrate on building houses and look to flick off that division ASAP.

Back to the days of major construction projects given to overseas firms - with a minor jv role for local companies?

[minimoke]

Back to the days of major construction projects given to overseas firms - with a minor jv role for local companies?

Or go further back. What was it called. Ministry of Works?