Forum Archive Index - September 2000

["Ian Andrews" <iandrews@ihug.co.nz>]

It's ironic that even clumsy apparent rampings can continue to occur in secondary board companies like Wilson Neill & insiders continue selling (see previous posting) while simultaneously talking optimistically in the like's of Frank Fernandez' unrealistically uncritical "Bulls & Bears" column of this week.

 

I think Fernandez got it completely wrong in suggesting that Jump Capital (Fay, Richwhite etc.) would provide comfort about corporate governance standards in Wilson Neill in the absence of the Stock Exchange listing ( with listing rules covering insider trading)  which had been promised for last month, then abruptly put on hold as soon as the AGM was over.

 

Where there is no monitoring or sanction , corporate behaviour standards will often fall. So far, the "authorities that be" have found their travel budgets don't let them go as far south as Dunedin, but I hear things are changing.

 

I think the WNC businesses are believable but other things are possibly not & I and other shareholders who are only coming to realise it are out of pocket because of this.I think I should say no more in an open forum, but I would appreciate hearing directly from interested current or former WNC shareholders.