Forum Archive Index - October 2001

["Steven Link" <seechoke@hotmail.com>]

Good on Nick for sticking by FRU - it takes courage and conviction. The 
issue for FRU is very put by Danone - FRU has great product capabilities but 
very limited resources for extending its marketing reach beyond Australasia. 
  Therein lies the big risk for investors in FRU and the big opportunity for 
Danone.  Judging by the PDL experience -the French are as good as anybody 
else at corporate plays and I doubt their first bid will be their last bid. 
(Dis - has FRU shares)

NZSE dying is inevitable - too many years of backward looking insidious 
mismanagement by vested interests concerned only with lining their pockets 
at the expense of all but themselves. And it is too late for the likes of 
small shareholders' association etc to do anything - the horse has well and 
truly bolted.

Stockbroking firms, especially the large international ones, concerned only 
with deals rather than base building for NZ companies - selling all kinds of 
deals to NZ companies to generate big fees but have stuffed the companies in 
the process.  Sadly, NZ's so called business leaders have been stupid enough 
to take them(prime examples -Fletcher Challenge, Brierley Investments, 
Telecom to name three)to NZ's detriment.

Now that they have gutted the NZSE - they are packing their bags and 
leaving..... which is OK. Let's hope that the vested interests within the 
NZSE leave with them because out of the ashes will emerge a new NZSE with 
emphasis on 'small is beautiful'.  Who needs big companies which do not 
generate capital growth?  Small companies with NZ shareholders rather than 
fickle offshore support can do well and history has proven that to be the 
case (Cavalier, Michael Hill, etc.

NZers can always invest overseas in big companies if they want to.

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