This is how I feel for EOM Feb to find out what they are doing with that pile of money - share buy back l, dividend or an acquisition. Having almost a billion dollars in the bank is only really helping the banks.
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I'm a long time holder since 50c days and have a very significant holding. I have followed A2 news voraciously and am used to the swings in price. However I have two questions that some market gurus may be able to help with.
1. For some time NZ has pushed the price up significantly in the morning, only for the Ockers to push it back down in the afternoon. Is this just Ocker shorters? Do Ockers just not believe as much as NZ'ers do? Is it just some other form of manipulation? Appreciate any thoughts.
2. Re Calamity Jane - has anyone actually heard any actual info on her exit? She was surely pushed, but I'm surprised I haven't read or heard anything, even rumours, about what actually happened. If she resigned (as the spin indicated), then she wouldn't have to be paid out anything apart from share promises. If she was pushed then the remainder of her contract probably had to be paid out to get rid of her. I'm interested in how this '$20M' figures keeps popping up.
Ted
1. Answer lies in the turnover. Fact is that ATM's sp is now driven out of ASX - NZX is but a pathetic follower now of what happens in Oz. Ockers are the ones who believed in ATM - NZers are the ones who have been selling to Ockers!
2. Boeing CEO fired and still left with US$80m package gives an idea of how CEOs packages are structured these days to attract 'the best' talent. Jayne would have negotiated a great package - it was all rah rah rah when she was appointed, remember?
In the same way as her entry was rah rah rah, Jayne's exit really should have been transparently disclosed to the market but since it is not, it is clear imo that she was asked to leave (for whatever reason) and she would have extracted a very high price for a 'mutually acceptable' exit.
Blame the directors and board - not her imo. If ATM had nothing to hide, full disclosure would have been made. Not a good look and that's why here's one shareholder who sold out.
Brian Gaynor does have good contacts so I would think that he will not be too far off the mark.
Jayne has to take responsibility and own her own greed Balance, she was only there 5 mins and rode on the goodwill of what Geoff had already done to build this great company, so morally why would she think she is worth a massive payout? She clearly is a lover of money when she couldn't pay her tax obligations without selling her shares after having been on 8 mill a year prior.
She is no different from any high flyer who has been headhunted for a top position - she negotiated a lucrative package which always include golden parachutes etc etc. Remember how the company (directors) came out and defend the selling of shares to pay her tax obligations?
There is no morals in these things as you know - why should the Boeing CEO leave with a package of US$80m when you consider what Boeing under his management did - 2 preventable air crashes which Boeing is directly responsible for.
Nope - ATM directors have been incredibly inept and devious in the disclosures regarding her exit. Something stinks.
And who appointed her?
The very same directors who now fall back on Geoff who stated that he had taken the company as far as he could, retired and sold all of his shares!
I think there is definitely more to the exit than the one way 'blame everything on Jayne' comments on this forum!