Forum Archive Index - August 2001

["Peter" <pmaiden@xtra.co.nz>]

Jefley - you said - do you suppose this company pays real money to some consultant to write such
drivel/ has hired such a  fluff-head/ or that Boult actually thinks like this.

 

Pretty harsh but obviously said from the heart.

 

I know RMG hire a PR company in Melbourne. I got a response from them when I asked RMG something. Whether they wrote this announcement i don't know but I am sure thay had some input into it.

 

Cheer up - they may come right one day. What you do is your decision of course

 

ADV also have some outrageous statements. Even yesterdays one from ADV went through the name dropping process again. Inagine comparing yourself to Lucent, Cisco and Nortel etc. Last year they were on first name terms with Bill and Microsoft.

 

I had to admire the bravery of the board  in 'determining  that there is no certainty of the carrying value of goodwill and therefore has decided to write off all goodwill assets totalling $60 million.and their "need 'to respond"

 

At least the shareholders got a thank you for their continued support.

 

A lot of excuses etc but no remorse and apology for spending all this money in the first place and not getting a penny for it.

 

It was more than goodwill - yes it was real money as shareholders equity has now reduced to $5.8M.

 

I wonder what Mr Christian thinks if he ever re-reads his speech at the last AGM

http://www.advantagegroup.co.nz/profits/news.asp?CurrentPage=3

 

The last paragraph was this -

"The business is in a lot better shape today, when the share price is $1.35, than it was nine months ago when the share price was at $5.60. At times like this, the madness of the market amazes me. Warren Buffett may not be a tech stock investor, but he makes some good points: when the local supermarket discounts baked beans, it’s time to stock up and buy more. Now’s the time to stock up on Advantage."

Wonder what he will say next time?

Cheers

Peter