Forum Archive Index - October 2000

[RIL <ril99_99@yahoo.co.uk>]

I was going to launch a stinging attack on FCL for
what it has done to you small shareholders.

But what is the point.

In a proper country like the US or the UK a class
action would be under consideration by this time
subject to scrutiny of received bids etc.

But personally I really don't care anymore.

Fifteen years ago we analysed FCL in detail. It took
the best part of a week and a half with three analysts
working on it to understand it. It was a dog then and
ever since. The abyssmal state of financial reporting
and press reporting of the company has hood-winked
many. True, it was a very hard company to analyse but
the third rate NZ press never did the job properly. 

FCL has burned billions of Kiwi dollars over the last
few years and no one has said boo. Misallocate
billions of Kiwi's savings and you wonder why your
economy is the joke of the developed world.

You deserve what you get. You act like sheep, you get
treated like sheep. Period. 



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