Or 71 days?
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SCF pref shares touch all time low this morning at 9 cents with virtually no depth on the buy side whatsoever. This is down from 17 cents a couple of trading days ago.....
As previously predicted, there will be tears very soon for SCF pref shareholders...Enumerate you'd better get a box of tissues with this weeks groceries.
Are we seeing Sandy's exit strategy begin to play out? Yesterday he has taken on a Directors Role at Ngai Tahu Holdings Corporation. I would have thought he would have had his hands more than full at SCF but clearly not. So SCF is either on the mend and Sandy can afford to take his foot off the accelerator as SCF races towards recovery. Or alternatively its about to plunge over the precipice and he needs an extra parachute for a soft landing.
I wouldn’t be so sure and categorical about it, “smoking cubans”. There are too many factors at play there, and it won’t surprise me at all if SCF will be helped to survive and emerge into the post-guarantee period as a new, re-shaped and financially stronger entity.
Govt Takeover might be in wind probally cheaper tha paying out under Govt Guarantee
Maybe 'Ngai Tahu Holdings Corporation' will bail them out
I agree totally. Trade out of the problem with Govt guarantee. Might skew the field for other finance companies, but if they just trade out, freezing deposits and paying a small say 5% return to depositors then everyone would cheer. Except other finance company investors who have lost their shirt.
A rather funny story of my brother in UK. He was a 'name' with Lloyds. Now this is totally true. He told a West Indian chap, 'I am not going to have a coloured chap working for me.' There was a court case, my brother lost. Lloyds were Furious. WE WILL NOT HAVE RACISTS AS NAMES WITH LLOYDS. So they expelled him! He tells the story with relish.