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Thread: Meridian Shares

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  1. #36
    Join Date
    Jun 2004


    Quote Originally Posted by Glenn View Post
    Too true but the same idiots were still in charge and just played out a tragedy as if they suddenly knew what they were doing.
    Actually of my 27 years in the company the Telecom (both SOE and private company) were the best times for me and were my easiest environment to operate in.
    Unfortunately there was a lot of fear and many of the nice people either turned nasty or were frog marched off the premises.
    Obviously a different experiance to my 37 years (and counting) in NZPO (state), TCNZ (SOE), TNZ (private), Spark (private).
    No nastiness in Christchurch, no frog marching.

    As for holding up the generators as good examples. What they are doing is identical to Telecom. Creating a mean lean machine which enhances it value. Meridian is going to hand back cash to the shareholders. This will reduce the dividend liability and enhance the value of each share. Nothing ever follows exactly the same path so the hard call is for us shareholders is the judge when to leap from the moving boat onto the wharf.
    If a company is making good coin and they have nothing better to do with the proceeds they should give it back to the shareholder.
    Look at the difference between the treatment (in the market) of Contact and Meridian.
    The generators were set up by the Govt of the day and left to become a good business - enhancing the shareholder value. They did this well (though I don't agree with how they did it (revalue and justify raising prices under the regulation of the day) they did what they were supposed to do).
    The Crown makes a poor owner when they start to interfere - when they use the business for other purposes.
    Like in the good ol' days when unemployment would come down because NZPO and MOW were told to employ more.


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