Yes however a good trading opportunity ..have to look for the silver lining:) This always had legs since Wednesday with the first murmerings of women and interns..
Printable View
Read my postings on Pike River, ATM and PX1 for starters and yes, you can call me obsessed and unbalanced if you like. But I put my view across forcefully and most of the times, I believe ST posters will agree I am worth paying attention to.
Simon Whimp is a detestable individual imo - he has behaved in a most uncouth and derogatory manner towards another person to boost his own position and ego. That warrants attention and criticism from anyone who believes he exhibits psychological trauma. The fact that he went after a 21 year old per NBR article confirms that fact now.
Be real Balance, you are desperate for attention and feed your ego. You edited this from Percy to as many people you could think of:) We know what you are:)
You do not need respond and that okay, somethings there is nothing to add, it goes both ways...its all okay:)
https://www.newshub.co.nz/home/polit...all-women.html
Our PM joins in ...IMO companies and their SP should be decided by their working and EPS and not by personal comments of CEO ...What he said is in very poor taste and shows him in very bad light ...tells a lot about his personal side personality ...DGC is not him ...Punishing shareholders for his politically / ethically incorrect utterances and show of superiority complex is not in good spirits too . Let SP be decided by companies prospects not by CEO's depravity or what ever it is ...
Read about some guy who raped 5 women, got home detention. Other major fraud and violence home detention.
No one really says anything. This is terrible. People get away with everything
Where was simplicity, kiwiwealth, etc with the Qex logistics saga. They should protest about that.
but if a white male says anything slightly offensive based on race or sexism. People want to destroy him...
I think Jacinda Arden would think Balance posts about her are also sexist and misogynistic.
Or as Balance likes to call her Cindy
wonder if we would have got the same carry on if it was a picture of theresa with her top button un done ?
And How's her team going on performance & popularity stakes ? ;)
Is the House CEO back in the House mysteriously as if no banishments even occurred ? ;)
More failures, no shows etc than the rare plusses / job well executed ? ;)
but who knows .. both might in due course be seen to suffer the same fate/demise ? ;)
In both cases .. who needs enemies .. when ? :)
https://www.newstalkzb.co.nz/on-air/...y-and-naively/
This is what Labour is trying to do to shut down scrutiny & criticism of its incompetence and failure to deliver on any of the huge promises made to win the election:
"This Government has an image problem and that may be partially reflected in their poll result.
It's the bury the head in the sand approach - 'I reject the premise of the question', nothing to see here.
But worse than that now I think, is this push back we're seeing where the Government is gas lighting its critics.
If you dare to question co-governance, you are racist.
If you criticise a female minister you are sexist.
And now, Poto Williams has taken it next level - she's claiming that saying the Government is 'soft on crime' is a gendered issue and an attack on her, because she's female. Are you serious?
That one is a such a stretch it's hard to believe she even said it out loud, but then she did also call the Police's handling of the Parliamentary protest "fabulous".
That was her word - "fabulous".
I can think of a lot of other words to describe how Police handled the Parliamentary protest but 'fabulous' isn’t one of them.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~ ~~~~~~~~~~~~~~~~~~~~~~~~~~
Notice that we have similar behavior here from certain posters - whatever Ardern and Labour do must not be criticized or scrutinized because to do so, one must be sexist or racist?
Well, come & kiss my arse!
Well, Simon has an opportunity to explain :
https://www.nzherald.co.nz/business/...UO4ANVVFUV6QE/
Let's see if Milford gets anywhere with the suddenly very silent & very quiet Simon & the BoD.
Meanwhile, Street Talk of AFR has covered the story so more Aussie funds will be taking note.
nbr ***BREAKING NEWS***
The Board is upset
AND
and Simon has apologised.
Back to your regularly scheduled Friday evening.
Good ole Simon ….even made the Board come out later to ‘clarify’ things ..might have told porkies to them
Hadn’t actually apologised ….couldn’t get hold of Nadia ….so they got him to courier the apology
OMG what a shambles …hopeless response from Board
But then unless Simon sacks himself he stays
Mud sticks they say
Four long days tells me a lot concerning the Board. Given that time, I thought the Friday night PR process would be handled better. Sold down and taken what has been a great return todate. Still smallish parcel.. will buy in after the news cycle settles. Company going well yet like so many NZ business. .. governance one to watch...especially in a crisis.. something that can expect to happen from a operating/ chemical perspective at some point.
The statement from the Board did not have a name to it (usually Chairperson) or contact details (usually PR person or firm).
Says a lot about how DGL operates as a company.
Imagine what is likely to happen if say, one of the dangerous chemicals they deal with spills into the harbour?
Interesting, just shows you clearly don't read what i write or try to comprehend. You appear only interested in your agenda and don't respond to posters, perhaps with something you cannot counter or do not like.
You pattern has not changed since I was last on here...shame, will pick the eyes out of your comments ..some which have good insights.. it's a shame you appear to have no ability to learn from others or listen.. still that is you loss.
Yes, when you look at the Board and shareholding, its as good as aussie company.... potential further falls there may have prompted them them to act by end of the week.
It really amazing the media focused on his inappropriate comments only while the article as a whole and subject of MFB IPO attracted many comments from readers....
An ex-DGL Australian shareholder perspective - well worth reading for the risks involved in a share like DGL :
https://arichlife.com.au/why-i-am-se...sx-dgl-shares/
"DGL Group has made very many acquisitions, and acquisitions bring risk. They also require that management exercise good judgement in choosing acquisitions, as well as good judgement in how they report the underlying earnings excluding acquisition costs. Therefore, my opinion of Simon Henry’s judgement is definitely relevant to my investment in his company.
On top of that, DGL Group is in the business of managing hazardous chemicals. Like waste management generally, and also mining rehabilitation, this is a very risky industry, and has a lot of regulatory risk involved."
Cancel?
You still and just don't get it, do you?
https://www.stuff.co.nz/business/128...bout-nadia-lim
An excellent summation on what the real issues are with Simon Whimp’s comments:
https://www.stuff.co.nz/opinion/3005...-we-be-worried
“Thankfully the near universal chorus of condemnation from the business community, men and women alike, suggests that if those are the circles Henry moves in, they are mercifully small.”
Add Percy, BDL, NOCASH, THEONE & Raz to that small circle.
Good family man. Even got son Max to come along to experience the success of a IPO
Wonder what his wife thinks of the latest carry on .... assuming he's married
Nice photo
Need an ignore button on this website.
No I mean what I said.
Understand now I think
Oops.
Maybe dgc could do with a consumer products division? And who would be better to head it up than NL? Great way of burying the hatchet. Win win.
Nadia Lim in perspective vs Simon Whimp
https://vt.tiktok.com/ZSdmUQUPV/
What a complete and still unmitigated fiasco - still no apology received. https://www.nzherald.co.nz/business/...KGJUPCFIU4RCU/
Will someone in the board please step up and show leadership because its obviously too hard for the CEO to apologise in a timely way. Totally pathetic ! I wouldn't trust that guy to run a chook raffle !
SP still taking a pounding. So unnecessary as well. Didnt have to happen
Bit ironic that a company that specialises in delivery and distribution can’t seem to deliver a courier package or an email.
Maybe a tactic to drop sp, so he can buy more?!.. I very surprised nothing has come out from him. I like his drive, but this is starting to become worrying.
He has apologized and he knows how to run a business doesn't he.
His comments have raised the historical racism that did exist between English Nzders and Chinese in NZ, especially in the gold rush days.
Nasty, and thankfully in the past.
Not really his fault,he was just trying to make a point but in an arrogant way unfortunately.
Some like to get carried away around here, he has run business for decades...this kind of arrogant talk is unfortunately very common with business leaders privately, even today.. what is unusual is a CEO say it to media or in public.
I have heard in the past year a lot worse, one was a senior female business leader, a couple of senior people in the public sector and across a leadership team of a large Maori NFP.
I use to wonder what they were thinking however when you realise the nature of people that drive to be in leadership positions and understand psychology it is more clear...the number of high functioning personality disorder people is leadership is high i.e Psychopathy which is most people.. just more at the extreme in leadership..
shares down again in aus
getting thumped in aus now
should be trading in nz closer to 3
Becoming clearer by the hour that Simon Whimp cannot bring himself to apologise properly and it looks like the Board is the one ‘inventing’ the apology to try and close the disgraceful & disastrous sexist & racist furore down.
The longer this drags on, the more long term damage is being done to the company & its share price.
Could not happen to a more deserving individual and the company.
https://www.goodreturns.co.nz/articl...im-furore.html
percy will rescue the share price soon
Market cap now A$800m
Probably never really was worth A$1.25 billion a month ago so mot too bad
Great time to BUY.
Shareholders better hope that there are no other revelations to come out on Simon Whimp.
Another one like him chasing and harassing the 21 year old could see the sp tanking another $1.00+?
Ouch!
Ouch!
Went to a Kiwisaver fund meet today(Simplicity) and one of the first questions a woman asked Simon Stubbs was about DGL Simon Henrys' comments and investing in such companies.... (Eventhough Simplicity doesn't hold DGL...)
The DGL SP looks like its in the grip of fund selling...
this is a nightmare for the company and shareholders.
You've been around in business long enough to know its all about perception. We've all heard worse in the locker rooms of sports clubs / at the pub over a few beers but to say that in public and then not move quickly to clean up his word vomit means nobody's impressed least of all ESG focused institutions. Thinly traded stock so when they're selling its no surprise the share price is being whacked. You'd be a brave man to catch a whole bunch of these falling knives.
Could have limited the damage if Simon Whimp had taken proper advice and head off the furore :
https://www.nzherald.co.nz/business/...7IPOKRX7LQBUM/
Instead, he stubbornly refused to front up and shareholders are paying the price.
Still not too late for PGL & Simon to do the right thing and apologize PROPERLY.
Excerpt :
"He's not the first and he won't be the last to trade fame for shame. It's a good earner for us in the reputation business. But while the furore is raging, it's convenient to remember there are PR 101s to avoid and recover from foot-in-mouth moments."
1. When you stuff up, whether it's a thoughtless slip-up or your massive train smash, you get up, dress up and front up. You do the decent thing and say you are sorry.
2. You do not hide in a hole, or behind staff who are forced to make excuses for your silence.
3. Don't hurl insults at one of New Zealand's most popular and well-known personalities, a woman who needs only one name.
5. If you are going to be the front for your company, acquaint yourself with your group's code of conduct, which ironically in DGL's case states: "In order to have an inclusive workplace, discrimination, harassment, vilification and victimisation cannot and will not be tolerated."
6. Incidentally, it may pay to consider who your shareholders are. As novel as it may seem, women have their own income, and many of us control the purse strings as well as the apron strings.
FY Guidance EBITDA $66m
What's that in NPAT terms
Down 55 cents now, 14%. Shareholders being hung out to dry.
bit of support at 2.85 ?
Yes, not flash..i,e I getall the angles, don't worry about that.. I sold a substantial holding last Wednesday and kept a small shareholding to see how he communicated with shareholders on this as it evolved..at the minute not a word....
PR is a disaster ..I know this business....I believe it is a good one.. we will see how the dust settles.. even if it ends up being acquired ..a buck yet to made.. just a matter when.
He wont go. More likely the stock will really tank (especially stock relating to some of the businesses that have been folded in, come off escrows ) , and a management buy out becomes an option. Its been done before time and again, when plans don't quite work out the way they were supposed to.
If recent history tells us anything, apologies don't work in the age of cancel culture so there's probably no point. In the last few years, society has established that forgiveness isn't an option.
My guess is that he will probably just wait it out, people will find something new to be outraged about in the news cycle.
Down over 15% on big volume - actually more as closed on ASX at $3.20 vs NZX close of $3.28.
And still no apologies from Simon Whimp.
https://www.stuff.co.nz/business/128...bout-nadia-lim
“The vast majority of investors that are selling will have made money on this,” Smith noted. “I suppose it makes it a bit of an easier pill to swallow.”
He described the share price reaction in recent days as “pretty severe” and said it was “a fairly unprecedented situation.”
“There’s obviously a lot more sellers than buyers,” Smith said. “If you’re buying stock at the moment, you are standing in the way of a freight train.”
That may well be the case. However given the nature of cancel culture and their business model as an aggregator. They will potentially have a problem coming back to the market for capital to pursue growth in the near future. Next funding round was only a matter of time..
Thats true...given they make acquisitions using a mix of cash and equity ..their equity might not be percieved as attractive as it used to be...
Also the stock could tank if the large quantities of shares released from Escrow to acquired entities are sold in the open market...
Marquee DGL customer raises concern about Simon Henry’s conduct
https://www.nbr.co.nz/story/marquee-...enry-s-conduct
Even if not passed off enough to go elsewhere they’ll get better trading terms …good move
NZH carries similar article : "International water treatment and chemical distribution company Ixom said it was "communicating its serious concern" about the conduct of DGL Group chief executive Simon Henry to the DGL board. It was aware of the comments made about Lim and shared the view of the DGL board that they were inappropriate, unacceptable and offensive, Ixom said in a statement in response to questioning by the Herald.
"Ixom is communicating its serious concern about Mr Henry's conduct to the DGL board and is seeking further information from the Board about DGL and Mr Henry's response."
And in probably a first, CEO of a major stockbroking firm criticizes Simon Whimp & DGL - on the record.
https://www.nzherald.co.nz/business/...WNDLXYUDKAE4A/
Excerpt : "Normally I would say ignore the idiots, but the inappropriate and unacceptable nature of comments made by Simon Henry, the CEO of NZX and ASX-listed company DGL Group, alongside his request to be quoted on them, highlights why company culture matters and how it impacts the value of a business.
I have had a strong personal reaction to these comments; there is no place for this behaviour. The remarks belittle the achievements of Nadia Lim, which is completely unfair. It is also disrespectful to her, and to all women."
"Culture is one of the most important lead indicators to future value of some businesses - a terrible business with a great culture might still be a terrible investment, but I am certain a good business with a terrible culture will be a terrible investment in the long term. Public response to the comments from the CEO of DGL has been strong and rightly so. It also reiterates the importance of leadership and culture."
"If we allow an echo chamber for these kinds of comments and walk past them without calling them out, nothing will change. We can, and must, do better than this."
• James Lee is chief executive officer at Jarden. Jarden* was the arranger and joint lead manager in the IPO of My Food Bag*.
Wasn't he just pointing out the difference between his IPO and the MFB IPO. The way he said it and belittling Nadia Lim was an ahole thing to do and from the other stuff dragged up he doesn't seem to be a nice guy, but hey sticks and stones.
I would suggest what Nadia Lim and her friends did with the MFB IPO was way worse if you invested in it, just looking at the current share price. They cashed out and overhyped the business to do it. Many posters on here said not to touch it with a bargepole as they knew what was being done. i.e. don't be fooled by the cleavage.
When did we turn into a nation of cry babies hurt at every little thing some ahole says. What a massive overreaction. specially when compared to what the promoters of MFB did they have inflicted real financial hurt on people.
That insight from Jarden’s CEO Lee is so true and possibly why investors are selling
”Culture is one of the most important lead indicators to future value of some businesses - a terrible business with a great culture might still be a terrible investment, but I am certain a good business with a terrible culture will be a terrible investment”
The culture part that James Lee is talking about above in Balance's post is something I hadn't thought about, but is very important. Everyone probably has worked at a company or in a team with crap culture. It's never good and always a relief once you exit the hell hole.
Is DGL a toxic workplace? (lol). It always comes from the top and trickles down and its never good for profits in the end.
Initially i shared your thoughts Aaron (post above), But now im thinking more and more this is a major issue for DGL shareholders. SP will be down heaps more today i would say
You want to write about financial pain?
What about
CBL,
Intueri,
Wynyard,
MPG,
Orion,
Evolve,
Pike River,
Plus SMS,
Feltex,
Geo,
NZK,
PX1,
Snakk
and
BFG?
Don’t be fooled by the big swinging dicks?
Aaron - another of the real crybabies who must have been very very deprived of something as a boy if you think like Simon Whimp that cleavage was what sold MFB.
Many see it the same way yet that does not agree with the agenda, look at many of the comments initially in media are associated with MFB, be it their PR firm, Jarden above and media talking to the founders, to be expected, they are defending a wider line using a PC position perhaps. Now it’s insulting all women and therefore allows wide groups to take it on per their agenda.
In the end you have to look at the consequences for the company if you invested or choose to invest in it.
It is cancel culture with a view to maximise the opportunity to leverage at the company’s expense to send a message. The media will continue to ask questions of all people associated including customers…put on the spot their response is predictable..
the biggest risk to the share price is customers looking elsewhere. we know if that has occurred to later in the future
The ignore list is useless because the posts of those of ignored are visible when someone quotes them. Doh.
Major DGL customer wants answers about Simon Henry's attack as shares fall
https://www.nzherald.co.nz/business/...OHPH6V6XJAG6A/
i get 2.64 aus and 2.35 aus as possible supports maybe ? based on previous chart levels
Agree100% Billy boy. What virtual signaling cynical unnecessary rubbish from Jardens. Rather than join the frenzy calling for Henrys head for not apologizing properly, his firm should consider the wording of something similar for the stuffing people got with the MFB poison pills. Probably too late and would represent egg on face.
Discl of interest. Not and never a holder of either MFB or DGC.