Forum Archive Index - October 2001

["Ben Dutton" <bendutton@sharechat.co.nz>]

Some great replies on the piece, thanks everyone for taking the time to
write in.  I thought I'd comment on a couple of posts...

Gary - I agree with you that the NZSE will be relegated to "local board"
significance and this is actually a *good* thing if it is done right.  I
also share your concern about the ASX - we have already seen an aggressive
move by the ASX with regards to foreign listed issuers (many of which are NZ
companies) with a suggestion that these issuers take a home listing on the
ASX.  If the ASX can't takeover the NZSE they can certainly find many other
ways of cutting into their business...

Geoff - How hard would it be to generate new business?  Not hard at all, but
they need to start trying, and there's the rub.  Thanks for your kind words
you are right, the article will probably have no effect on the NZSE itself,
but if we can stimulate debate in the wider sections of society than we may
see change in the air.

Charlie - Great post, one that really made me think.  I agree with your
points - the way forward for New Zealand in general is finding a niche as
opposed to tyring to compete on the global scale, but we still need a
dynamic and functional capital market so the small niche entrepreneurs out
there can raise capital with ease (VC is good but not enough for many
businesses).  They haven't even been given that opportunity.  I don't wish
to dwell on the past and I hate playing the blame game (which to me is the
realm of politicians) but we've got to stand up and say enough's enough.

Funnily enough, the NZSE had their annual general meeting yesterday (I was
unaware of this).  In the Herald this morning it was reported that Simon
Allen said (quote from the Herald) "There would have to be a cultural shift
from the NZSE's historical focus on brokers and information vendors.
Instead, the exchange would have to concentrate on new company listings, new
products, new markets, new services and new partnerships."

This is along the same lines to what I said in the piece but whether the
exchange actually carry out this strategy is a whole other matter.  They
certainly haven't so far and it may be too late before they do.

Best Regards

Ben Dutton


----------------------------------------------------------------------------
Want to find share analysis that is accurate, reliable and useful?  Check
out Intelligent Investing's "Quick Reports", information for the savvy
investor

Click here: http://www.intelligentinvesting.co.nz/quickreports/home.htm

----------------------------------------------------------------------------
To remove yourself from this list, please use the form at
http://www.sharechat.co.nz/chat/forum/