The actual staff "numbers" at Heartland Bank have not increased a great deal since it was formed.
However the skill set has.
Printable View
Probably the skill set has improved ........coinciding with a greater emphasis and commitment to diversity (ethnicity and gender). Good eh
Percy, talking of skills what you make of my observation of the Board skills and the apparent relative ‘weakness’ in the areas that are strategically important.
Jeff probably doesn’t read my comments on ST but if he did I’m sure he would enjoy them and take them on board and become more enlightened. I would hazard a guess that he would have you on his ignore list.
But his team seem to take feedback from share holders on board. Diversity is one that seems to have filtered through the network. Isn’t it pleasing to see the Chairman taking such an interest in it. Diversity must be important ....even setting measurable targets.
Expect to see Heartland winning some workplace awards - even one of those Women Employer of the Year ones.
All leads to ‘diversity of thought’ .....making Heartland a better business
Not sure.
I am hopeless with paper work taking up SPP's in Aussie.To be frank, I wouldn't know where to start.I just send the email/paperwork to the "office" staff at Craigs who always do it perfectly.Does that make them better investors than me? No, just better office people.
So back to HBL board.Huge amount of experience.Huge amount of their own personnel wealth on the line. Fantastic record of employing the right skilled people.
As a shareholder I could not ask for a better board or management team.Always done what they said they would do.
Percy, if you are talking ANZ.NZ then I have no argument with your figures. In gross terms you are right. In percentage terms you are wrong. Talking dairy to total loans for ANZ.NZ.
$11b /$186b = 5.8%
This is way less than Heartland dairy loan proportion at 10%. I have already checked ANZ against the other Aussie big banks as regards rural lending and they are ahead in both gross in percentage terms.
SNOOPY
Snoopy.
Google ,,.kpmg fips...........................financial institution performanc survey.
June 2017 quarterly results.
Compares ANZ,BNZ,CBA,HBL,Kiwi Bank,SBS,Co-Op,TSB and Westpac.
ps Would some kind poster please post the link.
Try this
https://home.kpmg.com/nz/en/home/med...mg-report.html. download on the right
To save finding that link
https://assets.kpmg.com/content/dam/...-June-2017.PDF
Doesn’t say who has greater dairy exposure
Why.?
Maybe because they don't see it as an issue.?
Interestingly enough, PGW with a dairy exposure of between 22% and 25% don't see it as an issue either.
When I last spoke to Jeff Greenslade and Chris Flood, they didn't see it as an issue.
Pretty sure The Reserve Bank of NZ does not see it as an issue.
I certainly don't.Never have.
ps W69 and minimoke.Thanks for posting the links.
OMG - the CEO did a rave about improving diversity.
Did I hear him say ‘more progress ’ is required to get more females in the Exec team
Good on him
No. It is a backward step and should be ringing alarm bells. The only progress required is the hiring of competent people regardless of sex, race religious beliefs LGBTQIAYHYZ (lets just keep chucking letters onto it) status or whatever is lacking in "diversity"
The big risk when talking like this is hiring (women) beyond their level of ability - that is, promoting to highest level of incompetence.
Much more talk of "diversity" will see me selling HBL, probably at a loss. This talk distracts from their main responsibility which is making me (and you) money.
No change to guidance. https://www.youtube.com/watch?v=y7nhxeokLCE
Diversity is the new buzzword at the mo, no doubt about it. I agree that the only progress required is the hiring of competent people regardless of blah blah blah. However it is reasonably well recognised that unconscious bias may play a part in hiring and preventing people in achieving their true potential.
In your statement re the big risk, I hope what you actually meant to say here is "anyone" rather than "women". We've only got to look around us to see a bunch of old white men in suits doing substandard jobs in some cases. And lets get real, women are being successful in business as well as running a family. Just how often does dad take time off work to stay home and care for the kids when they are sick.
You are clearly not a millenial (neither am I by the way).... they seem to care about this stuff a lot more and I think it is a good thing HBL is looking at diversity. A diverse, happy, talented group of people working together to make me money, that's what I want.
consider this for a mo:
‘A father and son are in a car crash that kills the dad. The son is rushed to hospital; just as he’s about to go under the knife, the surgeon says, “I can’t operate – that boy is my son!”’ Who is the surgeon?
Just read the agm speeches and presentation.
Simple,and spoken in clear language.
HBL know where they are going,and know how they are going to get there.
consider this for a mo:
‘A father and son are in a car crash that kills the dad. The son is rushed to hospital; just as he’s about to go under the knife, the surgeon says, “I can’t operate – that boy is my son!”’ Who is the surgeon?
So you're saying a mother isn't good enough to be a surgeon? =)
It is not a company's responsibility to help a person achieve their true potential, The company responsibility is to realise the full potential of their product / service for maximum profitable return to the owners of that company.
Put whatever diversity label into the brackets. I'm not picking on women.
Lets be honest. There are heaps of folks regardles of age or gender doing substandard jobs. What about young white mails like Derek Hendley. Or old White Women like Jenny shipley.
Oh well, I'm one you cant include in your anecdotal statistic
That is highly offensive to all those other demographics who care. There is an argument millennials mainly care about themselves.
Skilled and competent are at the top of my list.
After only a moment I reckon its the sons dead gay dads husband. But I am left wondering why he cant operate.
http://www.sharechat.co.nz/article/0...s-forecasthtml
This talk of diversity is becoming an obsession, I couldn't agree more with you but can't help adding my 3 cents worth. Printing part of the annual report in Maori is something to the best of my knowledge that only one company has ever done. Now they are talking about a major cultural overhaul aimed at ensuring Maori are more represented in the HBL workforce. This reminds me very much of the quota system when I went to Uni. Oh my goodness have we learned nothing ?
Really to me this is bordering right on the edge of obsessive compulsive disorder. It is one thing to embrace cultural and ethnic diversity and quite another to start targeting some sort of implied future quota system. A bridge too far, sold half my holding in disgust.
Political correctness gone absolutely bonkers in my opinion. What's next ? Heartland sets up their own Treaty settlement system with Maori employees because the crown's system isn't good enough ? Whatever happened to hiring the best people for the job regardless of creed, race, sex or religion ? Doesn't hiring the best people and making the most money count anymore ? Has nobody heard of the Peter Principle ? Promote people to higher and higher ranking jobs until they're incompetent at their designated duties ?
Aside from that rant, I see very modest EPS growth this year and the shares still trade above my assessed fair value. Has had a great run but my sense is this is very fully priced especially when you start thinking about some of their latest bizarre management methodologies.
Might sell the rest soon.
I blame W69's rants for this situation.!...
You will have to invest in a company that is not on his watch list,and keep it to yourself..
After his success with HBL, he will be out of control....lol.
ps.If you have fallen out of love with HBL,please spare us the hate posts.
I thought it was an excellent report. Taking up all the 1/15 and applying for more.
I still have a modest stake..was just venting my spleen about the absurdity of managements apparent obsession with diversity. I don't feel the need to repeat the venting process so I am sure you and others will be happy about that. Have to agree that some posters on here also appear to have very strong opinions on the value of diversity. Suppose we all have our various idiosyncrasies and have to accept that and embrace the diversity of opinion on the value of diversity...
I’m proud to be a shareholder in Heartland, even more so now they have embraced diversity.
Percy, the way you talk about diversity related issues I reckon that you would describe women who are the Chair of Global Women in New Zealand and a member of Chief Executive Women as radical feminists (or something even worse) ......and maybe even think they have no place in the Board Room
I’m sure such people aren’t radical feminists. I think it’s fantastic that women like Vanessa and Ellie are on the Heartland Board. They possibly are making their male colleagues more enlightened. Good on them if this is the case.
Shame that mininoke and beagle feel so aggrieved that they are either considering or have sold their shares. If you happen to believe having radical feminists polluting the Heartland Board you better sell out as well.
Diversity of thought is a great thing.
Sounds like HBL would be right at home in the new but worse South Africa.
Right time to clear the air.What is my history with women,.
Having owned and worked in the motor industry,toy shops,and book shops, I can tell you if shops were left with only men to run them, they would go broke.Clueless owners with limited skills.
One of the most satisfying things I have witnessed is women coming back into the work force, after they have their children off their hands.To start off with they have no confidence,and watching them gain confidence and skills is rewarding.One ChCh lawyer whose wife worked for me, rang me and thanked me for "giving him back the girl he married."
As for women as directors I have seen a good number,particulary at SCY and EBO.Never a dummy.
So yes I value women.
Back to HBL.I see them acknowledging their roll in the community.Chairman Geoff Ricketts,deputy chair Bruce Irvine,and fellow board members have great pride in the success Heartland Bank is.Right from the start they set strong moral and community standards.They also realised to be successful Heartland had to be very profitable,to safeguard lenders and staff,and to offer security to borrowers,and shareholders.
As the business has evolved,so has the need for people with digital/online skills.Good good opportunities for people with the required skills.
Now that Heartland have embraced diversity I need to ask them if they have a Sustainability Strategy
While a lot of their Heartland Trust stuff and diversity addresses the area of societal cnage I am interested to hear what if anything they do in respect of environmental issues and creating sustainable futures for the community.
Could be interesting what they come up with,
Westpac take great pride in being the worlds most sustainable bank in the Dow Jones Sustainability Index
AGM.
Direction.Very clear presentation covers where they are going. and how they are getting there.
I take it "bad debts" are still tracking below budget,as is the case for all banks.
Australia.I think the following gives an indication they are on course.;"For small business finance,we have the largest SME platform in NZ,and our aim is to have one of the largest in Australia."
http://www.sharechat.co.nz/article/1...ht-auctionhtml
I reckon we are overdue to add some more diversity to the discussion rather than just talking about diversity. Fourth straight decline in GDT prices. Didn't Winner have some theory regarding the remarkable correlation between GDT and HBL share prices ? Can't help wondering if the $2 the other day was the top for the foreseeable future ?
Jeff said they while NZ economy remains ‘favourable’ international markets ‘are prone to event driven volatility’ and so we need to be ‘cautious and watchful in terms of exposure to global markets.’
Some risk ....stocks trading a high multiples more exposed to big falls if things do turn for the worse.
sounds like he has been listening to Winston and he is a National supporter - getting confused?
https://www.youtube.com/watch?v=cbBx4Ql6Umo Back to sore to drive in and enjoy yesterday...one word covers this as said by the dog.
Maybe a few people are taking advantage of the arbitrage,selling the same number of shares they are entitled to in the rights issue,at $1.95 plus, and replacing the same number with the $1.70 rights issue shares.
I know I did,[at the plus figure].
Now I will have to decide whether to apply for extra shares,or not.
Have you considered that one of the criteria for competence might be to be able to understand and provide information about the particular word view, perceptual set, and attitudes of a specific group of customers. Since nearly half Heartland's customer base are women, it seems to me that that is itself a good reason for gender diversity, leaving aside the other advantages(which seem well established and include response to change, collaborative management, and ability to keep their egos under control) that women bring to the boardroom.
Sorry Percy I just have to get this off my chest. What is with their obsession with regard to ensuring the number of Maori staff is more fairly representative of the N.Z. population ? Do we assume that Heartland have conducted a full analysis of all other ethnicities and found that all other cultures and races are fairly represented already or is this just blatant racism in favor of Maori ? Please...I have no axe to grind with Maori but what is it with some sort of implied intake quota system going forward ?
On my one trip into Heartland to open my call account I did not see any of our Asian friends in the reception area and yet they make up a far higher proportion of the population now in New Zealand than Maori and why isn't part of the annual report translated into various Asian languages ? If I was to has at a guess I would say the proportion of Asian investors as shareholders and customers with accounts would be higher for Asian clients but they don't get the annual report translated into their language, why not ? Where does this political correctness end ? Why are they bending over backwards to be politically correct to Maori and not to our Asian friends or other ethnicities ? Perhaps you could give them a call and shed some light on their thinking on this ? I really don't get it...it just seems very very strange ?????
Wish I could have gone to the annual meeting and asked the directors as part of general business in the public meeting...that would have been interesting.
Must make a determined point to go next year and ask the hard question.
Pity you missed the good tucka and wine.
I enjoyed a nice Shiraz at home just to get in the spirit of things.
Perhaps you should ask Noodles to organise Jeff Greenslade and Chris Flood, doing a presentation for Auckland NZSA.
They usually open up a bit more at these presentations.
I do find it hard trying to criticise Heartland, when they have done everything they said they would do.
Is that code for, I do find it hard to be objective ? lol. Surely you can take the rose tinted glasses off for one minute and post what you really think about this diversity obsession or perhaps we leave it to Winner to explain it too us in detail ? Perhaps your idea for the NZSA meeting is best...I'll warm up the BBQ for a thorough grilling :)
I think on this thread I have the record of being the most objective poster.....??!!!..lol.
Diversity,and other W69 issues.Heartland have laid very solid foundations,to be built on.They will add richness of people and skills to benefit the whole business.We have noticed this evolving already at board and management levels. Staff numbers are only 360 people.The skill set of staff has changed a lot, to meet the digital model HBL have adopted.l I really think getting obsessive about these issues takes your mind off HBL's core achievements.
Heartland is still only a very small bank.Each sector they are in has plenty of growth,so the future looks sound.
Back to being objective.I follow the companies I invest in closely.They perform,I buy more,they do not meet my "thesis" I sell.Being objective means I am always "well positioned."
I suspect this talk of diversity is nothing more than a great big pile of public relations B.S....a bit like AIR and all their talk of electric vehicles, (which in a whole year the whole lot of them combined saves less fuel than filling one Dreamliner once lol). Far more PC to talk about these sort of things than talk about how they're going to expand their margins and make more money...not politically correct to talk about being greedy capitalist pigs is it :) Yeah I agree they have a good record and a sound business...all fully priced in.
"The offer document, entitlement and acceptance form and a letter to ineligible shareholders are also attached and will be sent to shareholders by 22 November 2017."
Has anyone received the letter(s)? I have all comms sent online, but haven't received anything.
Beagle, how I see it. Seems Jeff’s rave about improving Maori numbers in Heartland is his way of diverting discussion about gender diversity.
I reckon as a typical male chauvinist he is really uncomfortable with these female directors pushing the gender diversity agenda so he does a Percy and changes the subject and talks about Maoris instead.
Go Vanessa and Ellie, keep at it - you are doing well
Although the price for the 1/15 Rights issue is set at $1.70, that's not necessarily true for the additional shares you can apply for. From the Offer Document:
"The Bookbuild Price will be determined by Heartland and the Lead Manager, but will be no less than the Issue Price of $1.70 per New Share and no greater than the close price prior to the day of the bookbuild. The Bookbuild Price will be influenced by the level of demand for New Shares from Institutional Investors at various prices."
So as I read it, if you apply for additional shares over and above the ones you're entitled to, you could be paying anywhere between $1.70 and $1.95 or more, depending on demand - which is probably going to be quite high I imagine.
Quick question about the rights offer. When paying by direct debit, what date will the DD occur?
According to NBR, Reuters reported this week that HNA (buyer of UDC) has requested a 3 months extension on a HK$3.5 Billion debt due for repayment on Friday. Their financial concerns continue and meantime ANZ maintains the UDC deal is on track with them continuing to work through the process and regulatory approvals required. Will this deal go through ? Looking very questionable in my view.
I will apply on the last day. What if there was a large market correction before then and the head share drops to to less than 1.70.
HBL e-paper work done and dusted.
Nice to know, for a change, that you are getting all you pay for, instead of most of your money boomeranging.
But not going into the auction for more.
Best Wishes
Paper Tiger
Changes to the OfferSubject to the Listing Rules, Heartland reserves theright to alter the dates set out in this Offer Document.
Have been caught out before when the closing date for the offer was bought forward due to high levels of interest. The early bird catches the worm
Blocky was thinking of asking for a few more than 1/15 entitlement.....but what price to offer for them ?????
Just studying the offer docs, seems the only thing you could be sure of is; the price will be no less than $1.70 and no more than the market price on decision day, you could end up with 100k worth of new shares @ $1.97 !
Would like to think a wee premium might eventuate
https://i.stuff.co.nz/business/99108...works-unlikely
“Among the 20 secured HydroWorks creditors owed $5m were Powerhouse, Heartland Bank, Mace Engineering, Steel & Tube, Dorchester Finance, Ricoh Finance, and Financial Synergy. Unsecured creditors are owed $7.5m.”
Dissapointed to see heartland in that sentence, hardly a magnificent seven of sensible investing.
Anyone (from knowledge based on similar offers in the past) willing to make a prediction as to whether the price of additional rights will be signficanlty below market price. Hypothetically if someone were to have a large amount of dosh lying around and obtained a large bundle, would there be an opportunity for a dump at market?
fwiw my rights application was taken out of my bank account overnight.
Fwiw my right application was attempted but I had put a savings account down. Have corrected and imagine will be withdrawn today. very happy. Summers coming!
I have not seen any posts indicating people are going to apply for shortfall shares, that interests me as the worse thing to happen is you will end up with more shares at market price or maybe a discount, seems worth the risk to me, its not a bad share to hold if you pay no more than the going price surely ???
Or maybe people tend to think HBL is fully priced or over priced at the moment ?
Should see 2 bucks before the rights issue closes shouldn’t we
Strange F18 guidance hasn’t been raised for a while. Sort of says all this new capital (bonds as well as this capital raise) not generating anything extra
Yeah right .....when they say $62m plus profit for F18 the share price will take off...big time
Better to be in early than late .....now a good time to buy
I took on the rights issue, and applied for the shortfall. Not sure where it'll end up, but going well so far.
still havent recieved any info yet....still using snail mail....must learn to do it electroniclly
Got my nice welcome letter from HBL directors. They got a dividend reinvestment plan so I've decided to have me a bit of that as well.
I would ring/email them today.
Phone 09 375 5998
email enquires@linkmarketservices.co.nz
Quote your CSN .
had hoped you guys would have said not recieved yours either...days off tommorrow so will chase it along...many thanks
BINGO....!!!!
Full House......!!!!!!.
HBL $2.00.....!!!!!
....and guidance to come some time so don't miss out
Nice round number is 200 eh ....if it plays out to plan 200 will become a solid support level for a while ....once it's settled over 200 well never see a 1something price again
Heck 220 by Christmas and when brokers put HBL in their picks for 2018 it will take off again ....those picks always good for a rise in the quiet holiday periods
Wow