Reply With QuoteAnd share holders have the board on a first strike over remuneration of the board
AT RESTi watch an episode of aBS business and Gerry Harvey was being interviewed. (I personally don't like his cocky attitude and whinging about previous no GST on imports and pushed for gst on imports)_
The intervier asked him about his slump in share price and he didn't really have a n answer, he looked embarrassed a bit red in the face and waffled how good value Harvey norman shares are and people should sell their assets , boats and everything to get together money top by Harvey Norman shares, He said trading is flat and forecast for next year is also flat. Harvey Norman also made some bad investments in other fields, to this he tried to avoid the question. He looked a worried man looking by his appearance.
SysAdmin (Owner)
And share holders have the board on a first strike over remuneration of the board
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"Make the lie big, make it simple, keep saying it, and eventually they will believe it." -- a warning from Adolf Hitler
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“What you leave behind is not what is engraved in stone monuments, but what is woven into the lives of others.” - Pericles
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Wages are stagnant so that affects retail sales.
Wizard
The flawed notion that capital growth is perpetual is the cause of problem.
Harvey Norman surprised by a business slowdown? Please. Spare me the crocodile tears.
Super Moderator & CA manager
SubscriberI can tell him in a few short words why they aren’t doing well - there furniture is ****! Was looking recently for some cheap furniture - Fantastic, etc but also went into plenty of other places. HN had similar quality stuff to Fantastic - but at twice the price...
Ended up with Ikea stuff, and I’ve posted about how bad a day that was already... 😁
If you need to contact me please email homestarrunnerau@gmail.com - thanks - Gav.
YarnMaster
SubscriberUsed to own shares in HN. Sold them more than 10 years ago. Just got sick of Gerry Harvey winning all the time. That was back then and since then, he is still at it.
2024 RRS on the road
2011 D4 3.0 in the drive way
1999 D2 V8, in heaven
1984 RRC, in hell
Wizard
SubscriberDon’t like winners?
2002 D2 4.6L V8 Auto SLS+2" ACE CDL Truetrac(F) Nanocom(V8 only)
Swaggie
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.
Wizard
I always find it quite amusing when those who devote their entire lives to making money, act surprised when there’s a downturn in the market. Even I can see that market cycles are inevitable and I don’t have a capitalist bone in my body.
Done well for himself yes, created lots of employment yes. Great. But clearly that’s not enough to make him happy. Hmmm. There’s always more to a story than is portrayed in the media. Hope he’s ok.
Wizard
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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