Forum Archive Index - October 2000

[nickkearney <nk@xtra.co.nz>]

RIL

As before, couldn't agree more.  

Maybe you aren't such a deadbeat after all.

NK

RIL wrote:
> 
> 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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> 
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