So, Scales and Helicopters was introduced to SCF for a total consideration of $162.5m. At this time - this valuation was pilloried by the various self appointed vigilantes.Quote:
Originally Posted by SCF
Today, we have news of the sale of Helicopters ...Quote:
Originally Posted by David Hillary Blog
Sloppy writing in the NBR ... but the gist is Helicopters was sold for $160m. That is an a multiple of EBITDA of 5.7. That would have made a nice addition to the NZX.Quote:
Originally Posted by NBR
Seems like the great tormentor of SCF and Allan Hubbard, David Hillary, was expecting a figure of less than or equal to zero.
Maybe this transaction gives pause for thought - how much of the muck Hillary was spreading around is simply horse sh$t? How much of that muck infected the tabloid business journalists? How much of this muck infected John McPherson and the Treasury boffins?
It would seem the shortest path to poverty is to let journalists and government mandarins do your thinking for you.
The only one with any redemption from this is Allan Hubbard. He introduced viable assets to SCF when he could have walked away - was criticised and slandered around the valuation - had the government usurp his lawful property rights to annihilate the value of his businesses.
Where is your case against Allan Hubbard Mr Feeley? Where is the protection of the public interest in the destruction of SCF Mr Power?