Announcement to be made Wens.Their getting screwed on the shareholders discount card so changes may be in the pipeline although I wouldn't think they will can the whole thing.JR
There are some changes afoot at CML allright. looks like some store closure's coming up. http://www.smh.com.au/articles/2002/03/24/25coles.htm FC.
Yep they gonna wind back the discount card & sell off red rooster.Be interesting to see how the market rates these changes.http://www.egoli.com.au/newsandviews/archives/20639.htmlJR
I reckon the Mums and Dads are going to hate it. FC,
I reckon the Mums and Dads are going to hate it.Yep I'm sure your right many did buy for the discounts.But maybe the bigger holders will be happier.JR
"I reckon the Mums and Dads are going to hate it."The decision to halt the discount over a period of time, as announced yesterday, will be an interesting litmus test of the maturity, and style of the investors that grace the present suite of "Mums & Dads".If the only reason they buy a stock is for the discount, then better off the share registry.To think that $150m is taken clean off the bottom line every year!!, I am surprised the larger institutional investors didn't pressure CM to be rid of this stupidity earlier.Maybe Telstra should consider introducing a discount to their stockholders, might do something positive to their stock short term :-)).Cheers211
"I reckon the Mums and Dads are going to hate it."Well they would be a bit selfish and shortsighted wouldn't they?Personally I hope they absolutely detest it. I have become interested.Management is making the right noises.Sell.Sell.Sell.Sell.Sell.Sell.
"I reckon the Mums and Dads are going to hate it."It's not hard to understand why the coles discount was 5%, an average family spending $150pw on shopping is goin save $400 a year & then when you also consider the discount at Myers Liquor land ETC it starts to add up. Of cause thats tax free w'ere divis are taxed.It's a risky move for sure no cert cause they could loose a lot of customers from bad blood they may find that it don't play out how they planed.JR
they could loose a lot of customers from bad blood they may find that it don't play out how they planed." I bet they will feel the impact short term...On the news last night, there was a lot of whining and dummy-spitting among the shoppers, but really its just talking through the hip-pocket nerve again. John Fletcher is doing the right thing imop; And really,no-one promised that they could have a discount card forever, and they really should think themselves lucky to have had the discount as long as they did! Be interesting to watch what happens next few months I reckon..
but really its just talking through the hip-pocket nerve again.Yep risky, he's brave , if he's right he's a legend, but if he's wrong. I saw that the liqour side of the biz is the area that he see's as one to concentrate on, thats got a good chance of pumping up revenue.Be interesting to watch what happens next few months I reckon..Yep it sure will be.The major holders, as in what they do is IMO the really important thing. I tend to agree that many of those whinning shareholders will wait & see as well.JR
Competely agree 211. Like JR said he'll be a hero if he makes it; John Fletcher is the sort of manager I'd like running my money, but I guess time will tell, be interesting to see what sort of reforms he can bring about and what opposition he will have to overcome to do it. There is an article about CML in the Fin Review this weekend btw, (havn't read it yet.) Cheers,
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