certainly wise to take good care of the basket
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Meanwhile director continuing to buy shares. Got to be a good sign.
SP been sub $1.50 for to long. Some upward movement in near future one hopes.
Thanks for thoughts Mav
You say they lost Earl but offset by gaining Brent as CEO (Actually slightly positive for this chapter IMO).
What you think if a Senior Management Team who except for the Head Nurse have only been in their roles for a few months.
Some have been in the organisation for a while but is their a ‘risk’ with an inexperienced senior team?
Good post Mav and good to see you doing some soul searching and reporting back.
Any thoughts on Mark Stockton going / being pushed ?
I have come around to thinking that the "Total Comprehensive Earnings" best measures the value accretion to this company from one year to the next and I see OCA making steady progress in the years ahead and its trading at the lowest premium to NTA of any in this industry so is the value pick of this sector.
I'm a value investor so this will do me for most of my stake in this sector.
I'm not going to get too hung up on underlying earnings in the future with this one.
Stockton had 3.6M shares back in April. With what seems like an unaimiable exit, I wonder what he's going to do with them?
If he's gone to a competing company keeping a ton of them would be very odd but then selling if he's aware OCA have a good result on it's way would be shooting oneself in the foot.
I'm guessing it's as much of a worry to OCA exec as it is to us mere investors - any thoughts on how this would normally be handled?
[QUOTE=Beagle;897831]Good post Mav and good to see you doing some soul searching and reporting back.
Any thoughts on Mark Stockton going / being pushed ?[/I QUOTE]
Hey Beagle and Winner,
im not to in the slightest bit concernerend about any potential lack of experience amongst the top brass, frankly , I think they have plenty of experience and specific skills to keep the momentum. In small business I do know that an amount of customer and staff churn is better for the company overall than the same old same old. Don't see why big business is any different.
I rate them all as first class. I was sad to see Earl go especially as he was on the cusp of good results at last but everybody leaves at some point. I'm sure working off the public radar is a better place for anyone to be.
That takes us to Mark, he obviously left without a goodbye party. The market notice was very much of the " march to the front door with your box of family photos" variety.
This is generally only done when someone goes to the opposition in the same industry.
On LinkedIn he is mates with Earl ( and only Earl). He notes an exciting new opportunity he will fill us in on later.
I worked out his OCA holding around 1.3 milllion, he had reduced about .5m earlier this year. This coincidentally ( ?) is about what was sold extra last Tuesday in an apparent hurry (IMO).
After watching him get grilled multiple times about where he gets his steel from (NZ or china)at the ASM was painful, I felt for him . If I was mates with Earl and had the chance to not be hassled by Joe public then jumping ships would have some appeal. Crickey , I bet he got a pay rise too!
He was and continues to be held in high regard which eliminates anything dodgy or incompetent.
Joining the dots it seems pretty clear where he's shifted to and I'm sure we will hear in due course. I also suspect he is no longer a share holder.
I have no concern about his departure nor OCA s ability to replace him with someone of at least the same calibre.
It did seem like OCA went out of their way though not to say anything nice about him but I suspect that's how the new "private equity " CEO has been trained.( that bit is just my opinion though and not meant as disrespect to Brent)
You did well to sniff that out. Good work. Earl's a very likeable chap and I am sure he'd make an excellent work colleague and / or friend so i think its clear where Mark has gone or will be going.Quote:
"On LinkedIn he is mates with Earl ( and only Earl). He notes an exciting new opportunity he will fill us in on later" Maverick.
As I've mentioned several times I have a real liking for ex investment bankers running retirement companies. Witness how well SUM have done under Julian's leadership, certainly a lot better than when Norah was running the show.
I think to be a really successful CEO you do need to have a "hard commercial" side to you so I have no qualms about Brent now being CEO, (you have to be extremely bright to make it to being a director of investment banking at Jarden, arguably N.Z.'s preeminent investment banking firm) but I also wish Earl well for the future...a very nice guy.