Forum Archive Index - May 2001

["Phil Eriksen" <acepay@acepay.co.nz>]

>This is a very interesting stock indeed. I am sure that if Craig Heatley
>will do the right thing for minority shareholders as he has do so in the
>past. Craig Heatley would not want to disappoint the public investors if he
>is looking at raising more funds in the public arena in the future. I dont
>think he would tanish his reputation over a small firm.


erm, he has?  Rainbow, e-ventures and Sky TV have done nothing but record
losses and provide opportune exit points for Heatley.  His entry into
e-ventures was at a far better price than small shareholders paid, instantly
putting a higher value on what was effectively a large cash box with a
couple cash-burning small businesses.

It is *possible* for small shareholders to have done well (out of Sky /
Rainbow) but the gains have gone to those who can best play pass-the-parcel,
rather than a real return being generated via the business.  And in the
pass-the-parcel game, a Craig Heatley will *always* have an advantage over
minority shareholders.

I'm not knocking Heatley - anyone that can make the sort of money he has
deserves credit and respect for doing so.  However, he seems to be a classic
example of being able to make a lot of money, without ever making money.  I
don't think that leads to a "he does the right thing for minority
shareholders" conclusion.

Cheers,
Phil





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