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  • #46
    And now we see why they are increasing their fees:

    From the NBR:

    Fairfax may float Trade Me - analyst

    Fairfax Media could be considering selling off a 50 percent stake in auction and classified website Trade Me, Australian analysts say.
    Fairfax is the owner of some major New Zealand newspapers such as the Dominion-Post and The Press.
    With multiple changes to Fairfax's board and management in the past six to nine months, Royal Bank of Scotland (RBS) believes the new team, led by Greg Hywood, is more likely to look at corporate activity to close the gap between its shrunken share price and the underlying value of its assets.
    It believed Fairfax could use the cash to fund a buyback, pay down debt and raise the dividend, The Australian newspaper reported today. Trade Me founder Sam Morgan set up the company in 1999 and sold it to John Fairfax Holdings in 2006 for $NZ700 million in cash, with an additional $50 million to be paid for earnings targets.
    Investors liked the idea of selling a stake, sending Fairfax's shares up more than 2 percent to $A1.32 by early afternoon -- but still well down from more than $A5 in early 2007.
    RBS believed the most likely scenario was a partial float of Trade Me, which it viewed as a quality asset "significantly undervalued" in Fairfax's structure. At a price of 15 times full-year 2011 earnings before interest tax depreciation and amortisation, an initial private offering (IPO) of a 50 percent stake in Trade Me would raise up to $A600m ($NZ800m), RBS's Fraser McLeish said.
    Fairfax could use the funds to buy back 10 percent of its shares, which would add 8 percent to earnings per share and reduce net debt by $A290m to $A1.2 billion.
    Mr McLeish also saw the potential for a sale of Fairfax's radio business, which Fairfax is thought to be undertaking a strategic review on, but at a lower price.
    A sale of the assets, which includes mostly AM stations around Australia, would raise $A270m on a multiple of nine times full-year 2011 EBITDA, versus Southern Cross's acquisition of Austereo at 9-1/2 times.
    "Changes to the Fairfax board and the management team, as well as the disappointing share price performance have meant that the company is now significantly more focused on closing the gap between the share price and the value of the underlying assets than it has been in the past," Mr McLeish said.
    "The initiative that would have the potential to unlock the most value would be an IPO of a stake in Trade Me. We also see potential for a sale of the radio business," he said.
    Squadly dinky do!


    • #47
      Originally posted by retired44 View Post
      You really need to contact all of your fellow property management companies and leave en mass. That site at sella.co.nz is free and is very similar to trademe. If you contacted Sella and all spent the $400 per month advertising where your new listings were in conjunction with Sella doing a Radio campaign it would work.

      By continuing with trademe you are only making them stronger. By paying their increased fees you are only making them richer.
      I would love to swop but despite endless emails from me to them they just will not listen to what we call our town. They insist pig headly calling Richmond Tasman. There are actually parts of Richmond postal area that are in Nelson city territorial area. But try telling some idiot that in Auckland. There is a Tasman Territorial area, a tiny town of about 200 people called Tasman (located in Tasman territorial area), and various other things called Tasman like the ocean. There is also a place called Nelson that being the city, the province, and the postal area. They do not have the same idiotic rules applying for Auckland so why pick on us. I guess where people live helps explain it.
      If you ever get to talk to a finda (sella) person ask them to come for a holiday down here. I would love to take them to look at my investment properties located in Richmond Nelson.
      Last edited by Glenn; 20-04-2011, 10:16 PM.


      • #48
        Originally posted by PC View Post
        What may I ask is the point of listing a property on a site that only has Auckland properties on it. Well at least none in Nelson.
        The reason we all go to trademe is like Craigs list in the USA. All the people who are looking almost exclusively look at TM.
        There were lots on Finda / Sella till they killed it because of their silly rules.


        • #49
          T&E weekly publication used to be the "TradeMe".
          When we sold a car the results were:
          TradeMe - 0 calls and it cost $.
          T&E - multiple calls, sold & no cost.

          If listing on T&E is free - then it won't cost you much to give it a go as well.
          Support some competitors - or just pay up.
          The three most harmful addictions are heroin, carbohydrates and a monthly salary - Fred Wilson.


          • #50
            I agree, if you just keep paying trademe they will just grow bigger and bigger and keep increasing their charges.
            At the very least, double list your listings on the free sites.