SUM's business model is based on RYM's very successful model.
Everything done in house,buy the land,design,build,sell units, and then run it.
They have a better record of achieving "Best Retirement Village Operator". Won 2010,2011,2012 and 2013.
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I've said this before and I'll say it again.
This 'Award' that SUM has historically been shouting from the roof tops is as dodgy as a dogs dinner.
In my view it holds no merit whatsoever and as long as SUM keep touting it, my view on them is somewhat less favourable than would otherwise be the case. At least SUM's website has recently, and thankfully, taken this award out of the limelight.
SUM is a good company with great prospects, with a much better looking future now that Norah-shower-me-with-awards-while-I-insider-trade-Barlow is no longer CEO.
Disc: Don't hold but intend to buy if the SP breaks over $3.08 ... (10% over the $2.80 low point).
I absolutely love it when people have the balls to call it as they really see it.Quote:
SUM is a good company with great prospects, with a much better looking future now that Norah-shower-me-with-awards-while-I-insider-trade-Barlow is no longer CEO.
Can I please quote you on that in my letter to the board next week :)
Actually for what its worth Norah is not the sort of person looking to be showered with awards if fact she would be very humbled by the experience. I'm yet to see any substantial evidence to prove that's the company awards are not completely legit. From the ground level perspective they are commonly accepted across the sector.
That's a mighty laden statement, Vaygor. I am aware of the award you allude to but it doesn't interest me. Looking to get out of my present surroundings, thinking it might be pleasant to move to Tauranga, two main choices RYM or a bit further out SUM at Katikati. Visit to RYM left me totally unimpressed, cramped, dark, all about how great they are, blah, not convinced they would actually care about ME. Visit to SUM tells me first up they are totally interested in me, before they talk about anything else. BIG DIFFERENCE. I also believe you should talk to Norah Barlow before you besmirch her good name.
There was a lot of discussion re this at the time.
Late February
http://www.sharetrader.co.nz/showthr...ard#post463434
Well I'm sorry I don't see what the issue is.
Here's the awards criteria for 2014 - http://seniors-housing.net/core/awards-2014/
Here's the home page of the website.
http://seniors-housing.net/core/