Harvey Norman share slump and Gerry doesn't know why

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Originally Posted by 3toes

Harvey Norman is a property company which rents the portfolio to the franchises. Any correction in commercial property prices will scare investors as this is the underlying asset of the business model.

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And there you have the hard-nosed business case, sans any emotion whatsoever. It’s just business.

Yes it is,,, I also know a few wealthy businesspersons and they don't work a 40hr week, more like 100hrs. And every hour of their time is important. In all instances they will not suffer fools , but in all instances they are actually very generous people.

I don't really typecast people and it is obvious, even in this forum , that the great Australian tall poppy syndrome still exists.

Yes often cash wealthy people are time poor. There are many personality types that make up the world. Problems arise when one type expects all others to be just like them.

There’s no shame in not working 100 hrs a week. Just as there’s no shame making work your whole life.

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Originally Posted by Zeros

Yes often cash wealthy people are time poor. There are many personality types that make up the world. Problems arise when one type expects all others to be just like them.

There’s no shame in not working 100 hrs a week. Just as there’s no shame making work your whole life.

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and a significant proportion of "wealthy" people are cash poor, asset rich, and can not pay their bills. Ask the bursar at any expensive private school and the collection depts. of the gas and electricity companies who are the bad debtors they are always chasing.

Yes, and it's usually the average and poorer people who are the most generous to charities.

Reminds me of a bloke I knew who always had the backside out of his pants, lived in a dump with his family and was super frugal. After he died it emerged that he was a multimillionaire with no debts who owned a string of properties in Sydney.
Contrasted with another bloke who had the big house, the Mercedes and the lavish lifestyle, who it turned out was being pursued by a bunch of creditors, who he fobbed off with a bag of cash he kept in the boot of the Merc. He eventually went bankrupt and last I heard was living in a small unit on the Gold Coast.
Appearances can deceive.

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Originally Posted by Bigbjorn

and a significant proportion of "wealthy" people are cash poor, asset rich, and can not pay their bills. Ask the bursar at any expensive private school and the collection depts. of the gas and electricity companies who are the bad debtors they are always chasing.

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Being asset rich and ‘unable’ to pay bills is no excuse in my book.

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Originally Posted by weeds

I don’t think I’ve ever stepped foot in a Harvey Norman Store........

I have really followed him, but successful business people are allowed to whinge just like everybody else. I just switch off to that part. He’s just a bit more in the papers than other business owners.

He has done well for himself and I reckon he would have worked pretty hard in the early days......well done on his behalf. I don’t think he will have to worry about dollars in retirement. Aussie are good a knocking success.

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Successful?

Didn't he go belly up many years ago and took quite a few with him....

Hmm,maybe not,it was Norman Ross after he sold it.

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Originally Posted by 3toes

Harvey Norman is a property company which rents the portfolio to the franchises. Any correction in commercial property prices will scare investors as this is the underlying asset of the business model.

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They are stand alone franchises and thus can't or won't tell you if an item is in stock at another store. Another supposed chain to watch out for is Autobarn I tried returning an item purchased from another of their stores and they couldn't/wouldn't do it.

It's all smoke and mirrors. One day every business in the world will simply have one name, if growth capitalist competition runs its natural course. ...Harvey perhaps? Car parts, Food, Furniture, etc - just go to Harvey.

Capitalism is the enemy of diversity. Competition policy is a farce. Just look at food, it's already 80% owned by two companies in Australia.