https://www.stuff.co.nz/business/ind...r-ralph-norris
agree dont think much of the new board
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https://www.stuff.co.nz/business/ind...r-ralph-norris
agree dont think much of the new board
So Norris joined the Board in 2014 when share price was around $9.20. He leaves with it around $6.83. Not bad destruction of shareholder wealth to his record. And the new people Barbara Chapman and Robert Mcdoanld have learnt off him. Doesnt inspire me I'm afraid - all a bit cosy and without expertise
They put their hand up for Govt support, that's not going under. He wasn't the architect of the ill fated Ansett acquisition nor did anyone foresee some fanatical extremists doing Sept 11.
I like his good common sense low key approach and he'll be an asset on the board. That said FBU have a long and potentially very stormy voyage ahead of them and just because you fit slight bigger and potentially more effective rudders on the Titanic that doesn't guarantee success does it !
It is a disappointment that there is not a NZ director with hands on commercial experience. Does not inspire me to buy any more.
Budget 2018 by the govt plans to build 6000 state houses in the next 4 years, and then we have Kiwibuild which will be into the 1000s (I think it will take the govt years to get anywhere close but they will eventually). Not bidding on any new construction projects and going all into housing on a large scale is going to be difficult to bring average costs down initially.
The pre-fabrication process has its pros and cons. The huge con being down the line and how mass producing these houses will look in years to come especially if the incentive is to build as quickly and as cheap as possible. A lot of the homes built in the early 2000s using cheap plaster and untreated timber were a result of this and I can tell you not all of them were cowboys operating.
As long as the new Chairman seamlessly pontificates high standards in catalysts for change Fletcher’s should be OK
And shareprice will head back to 12 bucks plus
There is
Might be better to better to pull it down and start again (with another builder)
https://www.stuff.co.nz/business/104...hotel-disaster
"fletchers should be OK"...are you taking the mickey....I have tenant who worked on the Justice building in chch...the stories he had to tell....One may "pontificate seamlessly" till the cows come home...in my opinion FB ...is and will be a monumental CF....for some time...cheers troy
This hotel construction in Christchurch airport looks like a perfect storm of incompetence, dishonesty and sheer bad luck... Now Fletcher has to pay 40k a day on top of everything else!
its too hard to tell though, something I've suggested to winner previously. I wouldn't have thought 'should be ok' is a sarcastic statement, certainly its not obvious in the written format unless there is other context. esp with the following $12 forecast. I think winner posts so much that flippancy is becoming the norm.
Hey thats been the norm for ever its just w69s style ala on the fence commenting on to all passersby.I visualised two winners some time ago both sitting on the pavement outside the shops one a bit further past the other with shades on. both have signs and upturned hats with a $5 note in . One sign says "I Am Blind" , one says "I can See Quite Clearly". Celebrate the diversity on here and one w69 has some great knowledge and opinions to share and one suggests you look deeper yourself and debate , smile,or trade the stock discussed.
BOT
FBU
NOT
FBU is a sideshow to me now.
Leave it alone mate.
Discl. (No position, either way)
We don’t seem to build things very well in NZ do we
https://www.stuff.co.nz/national/102...ato-expressway
https://milfordasset.com/insights/bring-greater-diversity-to-the-boardroom
Bring greater diversity to the boardroom
The Aussies love to have a dig at our business practices and the CBD column was a perfect example of this. Under the sardonic heading “Nothing constructive about board”, it began: “Kiwi construction giant Fletcher Building lost a fortune amid the biggest construction boom in the country’s history. “If there was one lesson that Sir Ralph Norris’ board was meant to learn from the disaster it was that it needed more people with experience in its core business — building materials and construction.” But no. The column pointed out that two new directors, Barbara Chapman and Rob McDonald, had close connections with Norris. Chapman had been CEO of ASB, Norris’ former bank, and McDonald was appointed Air New Zealand’s CFO in 2004 when Norris was the airline’s chief executive.”
Reidy was ‘nabbed’ from Kiwirail so must be a coup for Fletcher’s
http://www.sharechat.co.nz/article/8...n-businesshtml
Previously COO at Downers, and also been at FBU before.
Must be more fun than being at Kiwirail......
Just wondering - how much is a stock with a current (and big) loss due to management ineptness, a (3 year) forward PE of 23 vs a trailing (10 yr) PE of 20, no growth what so ever and a history of incompetent management and board decisions really worth?
Would a PE of 10 sound fair? I probably would think twice about that but 23? Really?
Just wondering what I am missing for not investing into this company? I guess even if they manage to magically replace over night not just all the dead wood in management but as well the inept and overpaid board - how long would the company need to work to at least be worth their current price?
What is the investment proposition?