Forum Archive Index - October 2000

["Graeme & Jill Christie" <bayvu@ihug.co.nz>]

Hi Warner. You're onto it mate. The manner in which directors/management  in
N.Z. reward themselves with the issue of options or shares (inevitably at
less than mkt value) is destroying co. value. Easier to understand if the co
makes good profits but disgusting when the co does relatively poorly. This
trend started when management said their salaries were losing parity with
o'seas co.s.... These co executives are making a fortune at the
shareholder's expense... Some individual shareholders are arguing at AGM's
and such but usually these distributions and /or increased director's fees
are being approved. Check BRY, SKC etc   Time for a slap around the head for
some of these self-serving pricks in my estimation. Time for a shareholder's
organisation or am I the only whinger here? By the way, check out
Wrightson's annual accts - see the small holding by the directors and at
around 40c/share - they'll be real happy to pick up some more cheap shares.
By the way, I have some regard for Gareth Morgan's ideas - he's a bit of a
hawk but at least he's got his eyes open and he's not afraid to say what he
thinks. Open for debate... soon. Cheers G.
-----Original Message-----
From: Warner Lamb <cloud9@i4free.co.nz>
To: sharechat@sharechat.co.nz <sharechat@sharechat.co.nz>
Date: Saturday, 28 October 2000 16:26
Subject: Re: Re: Re: [sharechat] WRI


>Thanks Mark, Steve and Peter, what I was getting at was exactly in G
Morgans
>article...what are these guys rewarding themselves for?? The reason I'm
P'ed
>off is because I saw BRY pull the same stunt a few months back. How do they
>get away with it?....shareholders seem to have no collective power to say
>NO. This goes back to the ASA talked about by Peter and the larger owners
>responsibilities Ben has talked about.
>
>Dont own WRI or BRY.
>They can talk their shares up all they want/hope but the fundamentals dont
>go away.
>
>Warner.
>
>PS.Management has gone to the top of my screening list before fundamentals
>even start due to my FFS debarkle.
>(not saying I didnt learn a lesson about over optimism)
>I should be a starter for F.I.S
>
>
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