Forum Archive Index - November 2001

["Viewpoint ." <viewpoint_@hotmail.com>]

You sometimes have to wonder if the people who are in charge of some of our 
bigger companies are in the land of the living. You also wonder whether they 
intend saying what they do come out with at times.

Mr Smith of Tourism Holdings, in his speech to the AGM yesterday, said  'a 
pleasing aspect of the past twelve months has been the increase in the 
number of THL shareholders. Last year our shareholder numbers were 5,800 but 
in the last 12 months this has grown by 40% to over 8,100 shareholders. It 
is satisfying to see that the majority of these shareholders are New 
Zealanders supporting THL in what has been a stressful and challenging 
period'

While Mr Smith might think it satisfying that so many shareholders are
supporting THL I wonder if he thought about how shareholders feel.

To me it seems that it is the 8,100 shareholders who have had the 'stressful 
and challenging period' watching the THL share price fall  from $2.50 at the 
start of the 2001 THL financial year to its current price of $1.20 odd.

Yes Mr Smith - the company you are chairman of has lost over half it's 
market capitalisation - to the grief of most of those 8,100 shareholders who 
you seem so satisfied with.


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