Forum Archive Index - February 2001

["G Stolwyk" <stolwyk@wave.co.nz>]

 

 

Graham,

 

This situation has been going on for many years!

 

As you know, I have been very critical of the brokers who must be blamed as they are members.

 

Not once have I ever heard a broker complaining about the conduct of their Board.

 

For them to suggest that the takeover panel is independent, is just a farce!

 

Can somebody tell me: Was there a reference to an article which suggested that one of the panel members was connected to a fund which sold their Montana shares to Lion?

Or have I got it wrong?

 

Obviously, more deals are in the offing before the new legislation takes effect on July 1.

The country will be short changed till then!

 

The Government should immediately take one of the following steps:

1. If the legislation is ready, have it passed now! There is no need to consult the stockexchange as they have lost any rights they had, years ago.

 

2. Stop any further takeovers till the legislation is passed! The country can't afford any more damage to its image or in dollar losses.

 

As to "Institutions", refer to my post of Jan.25, " Learning to.......INSTITUTIONS "

 

As we loose more large companies, there will be less work available for brokers.

Also, the bad publicity will encourage more clients to go to the Net brokers.This in turn will cut their incomes further.

 

If they want to pay their bills then the obvious outcome is that the broker's clients will not be offered many shares in any promising new issues!

I think that this is already happening!   

 

Gerry