SUM - Summerset Group

[Joshuatree]

Turning into a One horse race folks
One Year on MET 37.31% RYM 23.7% SUM 6.29% a distant third

[cloggs]

The new Karaka development stage 1 seems to be nearly ready for business. They're putting gardens in etc.

[blocker3]

The new Karaka development stage 1 seems to be nearly ready for business. They're putting gardens in etc.

Excellent. We all need good news. Thanks for that local information of yours,cloggs

Couta1 and I can smile and rest a tad with SUM

[Beagle]

What a bloody awful week in the market, I need a drink or three.

[Jim]

What a bloody awful week in the market, I need a drink or three.

I am on my 5th and counting

[Snow Leopard]

I am on my 5th and counting

If you were an accountant who likes Kentucky Bourbon Whiskey then we could say:

Jim, Bean Counter, counts Jim Beams.

Best Wishes
Paper Tiger

Disc: Sold the last of my SUM today - I will be back some day.

[Yoda]

That not good news is it yoda

Mr Bulkowski says more likely to break down than up

So we saw this coming a month ago. Thanks for the advice, i,ve been selling out, moving to Metlifecare......

[couta1]

If you were an accountant who likes Kentucky Bourbon Whiskey then we could say:

Jim, Bean Counter, counts Jim Beams.

Best Wishes
Paper Tiger

Disc: Sold the last of my SUM today - I will be back some day.

Hopefully your re entry ticket will cost you a whole stack more than your sale price

[Vaygor1]

Up until now SUM have been paying others to manage these risks (in a nutshell project risk, contract risk, technical risk, schedule risk, consent risk, construction risk, safety risk, and procurement risk). Bringing it in-house is a major undertaking and if they succeed, which I hope they do, it won't be without some major lesson's learnt along the way. I am sure RYM had (and continue to have) their fair share.

You dont have to bring these all inhouse at once - I would leave the construction contract (which includes safety and procurement) till last once they get scale. SUM have control of the biggest risk - demand risk on completion.

They can take on the additional risks as they scale up production and gain the economies of scale.

Possibly HS, but also difficult to achieve. From my experience this approach is a bit like trying to get half pregnant. If your not in all the way then the extra interfaces, communications, points of demarcation and more complex contractual relationships between parties invariably leads to negative results with a great deal of finger-pointing to say the least.

I did some research, and although not conclusive, it appears RYM bought an entire engineering/design/construction company around 1998 (one of RYM's own service providers whose build-book had become almost 100% Ryman apparently). This would make sense to me and would explain how RYM managed to accomplish what they achieved what I call critical mass in this area.

I would suggest (actually, very much like) SUM do the same if they can afford it. The path they are appearing to be taking of growing it in-house is fraught with danger in my humble view.

Refer this ad for Greentree Software that RYM use. This is not a plug for them, and selecting a piece of software like this guarantees nothing. But it might help one appreciate a little bit about what's involved with at least just the construction bit.
http://www.youtube.com/watch?v=5IYF21b47CU

Disc: No vested interest in, or relationship with Greentree Software whatsoever.

[Beagle]

Vaygor1 This week I have had cause to reflect upon Warren Buffets saying about best of breed regardless of price.