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[sharechat] does BIL know what it's doing?


From: "hugh webber" <hugh.webber@clear.net.nz>
Date: Sun, 5 Nov 2000 09:24:59 +1300


It seems from the article in today's Sunday Star that BIL
has now decided to go into reverse (again) and concentrate
on NZ investments because it can't afford to give up its
$1 billion tax losses benefits and it can't afford to export 
money at the current 'low' exchange rate.
So its proceeding to sell Sanfords its profitable fishing 
subsidiary and its profitable dairy farms and other profitable
NZ investments in order to get the money to buy profitable
NZ coys to use up its tax losses.

Pardon? excuse me? I thought that although fish are a commodity there's 
a growing worldwide shortage because of increasing overfishing
and country fishing allocations by continental shelves in 
effect turned it into the sort of consumer monopoly that
Buffett looks for....and as we all know dairy farming is on the
pigs back and the only consistently successful NZ farming 
industry.

And as the article notes there are rather few profitable NZ coys
going for a song to be picked up. BIL has spent the last few
years hocking off the profitable coys and keeping the dross.
Still, maybe it means BIL has given up some of the starry eyed
ideas of its new CEO that it would now pick up all sorts of
brilliant tech investments overseas (shades of Asia Power?)
and run with them BIL previously not having had any tech
expertise and being a very late starter. 
I think I'll dust off a copy of Alice in Wonderland to see what
the next move is...

cheers,
Hugh




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