Forum Archive Index - May 2001

["Ian Andrews" <iandrews@ihug.co.nz>]

I view leveraged property as an important component of our long-term investment portfolio. It is the chief proven method of capital acquisition for New Zealanders throughout our history. It works effectively because of a wealth transfer from younger, newer tenant immigrants to older landlords.

Discipline is needed, but everyone who follows the few basic rules can succeed.   

Banks don't have enough confidence in New Zealand industry as a wealth creator to lend much on security of shares, but nonetheless industry needs support because it provides incomes for our tenants - and it provides occasional profits which we can divert into deposits on properties.

 

By the way, re. Wilson Neill. the directors are now: Tim O'Connor & Mark Battles (both Aucklanders & representing IT Media), the Old Guard's Trevor Mason & Phil Vosper (ex CEO) , & Maurice Crosby representing Igacu/ Radionet.

Dianne Giles resigned only 3 weeks after my request, but Mr Mason lingers.When he goes, perhaps they will appoint a woman independent director.   

I have been promised an announcement about the Company's future "soon" ( but "hold your horses" - it may not all be good news)