Market cap only $175 billion so $25 billion new a lot
Where does the money coming out go to?
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Allotments and share performance schemes - good time to cap raise a bit more. This is when you sell down those performance shares.
NZD - USD might move to HLG advantage over the next 2 years and the amount of money the FED and the Treasury , must provide is starting to awaken comments of a USD revaluing on the business talk shows.
All countries are in on the same game though, right? No shortage of lolly scramble money here, asset prices going through the roof, minimum wages heading north, rising tide for the rest of us, talk of zero to negative interest rates...it will all serve to water down and keep a lid on the currency. It's not like only a few years back when our higher interest rates relative to our peers made the NZD look attractive (I think the 7th most traded currency or something like that). Probably the key thing making the NZD an attractive haven ATM is our handle on the covid, but we're still going to hurt big because of travel restriction's impact on our GDP (let's not mention the one way travel bubble).
intrigued by this new director announcement: https://www.nzx.com/announcements/361256
I don't have personal experience of a Hartleys store but is Hartleys a competitor to glassons? And if not, why not?
I'm sure HLG (and Sandi) will have considered all this and it is not a problem ... but interested in on views on why it isn't!
PS. i like the appointment. Adding deep industry experience is a big plus.
Its crossed my mind with HLG's cash mountain there could be an eps accretive acquisition coming up ! Could this appointment be a prelude to that ?
Other than that I would think there might be appropriate non competition and non disclosure clauses included within the terms of this new appointment. I think we can very comfortably rely On Tim Glasson's judgement in this area with his 20% stake in the company.
Hmm, that's an interesting concept you've sniffed out there, Beagle...could light another rocket under the SP :D We've probably been lulled into a sense of steady as she goes with HLG, but maybe this is the time to consider cash pile / cheap debt fueled growth by acquisition.
A quick look at Hartley's website gives the impression that they and Glassons would appeal to different markets, rather like Hallensteins and Barkers. Different price points, different clientele.