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So they are thinking out of the box, going stateside
https://www.theguardian.com/media/2022/sep/01/express-and-mirror-owner-plans-new-us-editions-as-uk-staff-strike-over-pay
Still needs to give the readers an option ad free and sugar it with monthly cash prizes, Brits love it ie a flutter
Rising record print price costs, falling advertising demand and now rising wage demands to the point of strike action? This is why the SP is falling. No one knows how bad it will get but the energy price rise is set to get worse.
70p about to be breached this morning. I understand there are strikes, but this is crazy - the company is priced to fail.
The Board clearly need to be replaced. SP was around £4 this time last year.
The NUJ said its reps had passed a unanimous vote of no confidence in Reach chief executive Jim Mullen as a result as general secretary Michelle Stanistreet claimed he “kiboshed any chance of a sensible deal that addresses our members’ key priority – their consolidated pay”. NUJ members voted to reject a 3% pay offer from the company.
Still expecting this to be driven lower by MM and shorters and with these strikes who the hell would want a take over . How can you **** up a SP like this board of numpties . I can see a lot of pI's coming in if this stabilises in and around .64p Im hold to average down ASAP
Said it for yonks, it's so simple, 20 or 30 3k or -5k cash ?? ?? prizes per month, 4 big prizes Xmas and New year's. . £5or 6 a month 3 million subscribed ad free experience perfect for the times we are living in , gives people hope, what else to offer the 11 million subscribers? Mullen think out of the ??, 3 million come on board for £6 a month, with a 20% discount for annual payment, the staff can be paid, the pension deficit can be paid and got rid of, and we can receive 20 /25 p dividend. And the shares would rocket to 8 quid.
I know the markets are taking a beating but apart from the strikes and the energy costs its not as if we are printing shed load of papers , and considering so much emphasis is on digital /.Why are they so slow to subscription service are they that bloody stupid .
...and I only paid 84p! Seriously, the Management must change before this company rises from the ashes.
Jesus he must be bad if you can say he's worse than Sly Bailey . Then there is no hope ! 58p here we come , subscription is the way look at the FT it pays for a thing like wordle and subscription increase little things go a long way . Mullen has to go he's had 4 .5 million quid this year alone while he's crashed the SP in less than 10 months . And take his yes men with him.
Talks back on with NUJ and Reach have until Tuesday to avert the strike. We have to hope it’s a serious attempt at a settlement and not merely a ploy to avoid disruption over the bank hol, a busy time for a volume digital publisher like Reach, otherwise we holders won’t see an end to this soon. The first ballot was so emphatic it’s not difficult to see a second going through, and the effect of this should not be underestimated because there is no army of freelancers out there waiting to replace the journalists who walk out, so millions of page views stand to be lost. I’m all for prudent spending but Mullen and Fuller haven’t got a particularly strong hand here. They’re saying they’ve got no money to sort this but they’ve just raised the divi, which not only gives them another rise through the back door but was going to double digits all by itself, so I would rather they had spent that money settling this as an LTH. They’ve just created seven roles covering women’s football, sorry, that won’t get eyes on screens in serious numbers, it’s a gesture. They are always advertising roles they now can’t fill, because of the wage issue. They’ve expanded the board with another two crony NEDs. So all this says to staff is ‘we’ve got money to spend, but not for you’. That’s a ticket to militancy in this business, where you have a combination of old hands who like their titles but don’t like Reach, after years of pay freezes at their end, and low paid leftie grads. At this stage I have to ask myself what are the board thinking. As far as I can see the only thing Mullen has brought to the table is the plan for newsletter sign ups, which isn’t rocket science, pretty much everything else is Fox’s legacy or from the editorial side of the business. Mullen hasn’t stopped money draining to Google and FB, he’s still giving away content you could charge for hand over fist, he’s wrecked the relationship with staff in a way even Sly Bailey and Maxwell didn’t manage, the sp is flirting with the lows of the pandemic and along with the Dweedledum of a CFO he’s charged us £7 mil for it. September folk are back from hols, back in their digital routine so this needs to be sorted by the end of the month otherwise shorters will have a field day.
Said it for yonks 11mln subscribers 2 or 3 million pay £6 a month no ads and 30 monthly draws of 5 k who wouldn't, maybe 5 take up subs, will be awash with dough. Kiss keep it silly simple, formula for a big turnaround.
i thought that 4 -5 was a fair divi in fact i thought that was a bit generous last time but I'll take it. If we get back to nearer £2. by march or April think you'll be feeling lot more positive sometime the positive results come because of the negative ones well that's what ive found with RCH GLA . As for smiling company looks pretty good for next 4-5 years would like to see them introduce some sort of small subscription to no advert websites think there good profit for bottomline
Your biggest holding @139p? Respect to you.
My first buy (feels like ages ago, but was really quite recent) was at 133p... and already 40% down on that!
Do you think they might cut that divi? It seems generous as a yield on the current share price.
Yes we are indeed on the same side. Hopefully we'll have something to smile about in the not-too-distant future.
no problem unhooked . had the wife nagging me to buy back in at 1.08 but just had a niggling feeling . The shares are well under valued and still think £2.25 + is good value what with the divi's they been paying. I'm betting on this levelling at 80p end of September to start moving back up ( so guessing at how low it could go is just watching a trend ) the bloody shorters are and have been a pain the ass . So this is my biggest holding @1.39 but been here before a tempted at this price .Having worked for Reach (when it was 6.25) and its previous Identities. its swings and roundabouts and i certainly want to be here for the divis and the bounce back .I wish you luck and hopefully we ride the wave together. we post here in hope some of the exec's take some notice. Onwards and upwards
Our posts crossed. Didn't know you already owned shares and are looking to average down - in that case you may well be unhappy with a lower price, my apologies.
I'm fairly new to owning shares here, as you can probably tell.
4.5m on pay is crazy for a company of just 250m market cap.
But a target price is based on fundamentals, whereas you're simply trying to avoid catching a falling knife... (which is entirely sensible btw).
Good luck.
No, you should do it your own way and I can't say you've been wrong.
I agree the generous executive pay does indeed stick in the craw at a time of inflation and striking workers.
But let's be honest, I'm 'gutted' with a lower price, you are pleased.
Spot on Citycon , Unhooked been here over three years in and out , and it always seams cyclical . over past year bought in at 58p 1.38p missed out on selling at the top but believed we were going in the right direct but as City con says they've lost the plot. so many missed opportunities .I'm hoping too pick up more to level down my losses . Fundamentally this is a good bet for the future but these guys are totally over paid 4.5 million for what. Why would i not review entry level if the news aint good . should i buy in now or wait it my choice .Been there bought he Tee shirt.
Your target is all over the place Manlse12 - you shift in down each day when the price drops, lol
And I don't see how you can be gutted to obtain a lower entry price..
Can't believe those pinheads are really screwing up the company, no common sense, no ideas, utterly destroyed shareholders value, and the f ing institutions not wanting removal of this pair of overpaid screwups. Bring back Simon he created a base to grow.
looking dire now , poor ABC on print , digi not moving across the board and the strikes aint helping . Wouldn't be surprised if there's redundancies following them. Hate to say this but must revise target entry level of around .64p .just cant see this topping until the shorts are out . its Gutting.
Yup.
80p to sell this morning - looks like your 79p target will arrive early too.
This share is dropping faster than even the bearish expected...
Already feeling foolish re my top-up 5 days go.
And still the shorters staying in , do they expect even bigger drops now , I'm going to review my target and it aint good ,
Might even go as low as .79 by next Friday . News still pretty depressive ( Most Titles affected ) , Man Utd in turmoil ( Manchester evening Post ) just cant see any belief in the management at the moment there needs to be something big to turn this trend.
On the edge of buying back in after a couple of months out. General worries about another wave downward has kept me out. Part of me wants to be all in for a recovery but I’m still about 20% cash waiting for another market rout of a day (maybe by October?)
Unhooked.. This is Crazy thought it might take another 2 weeks to go below 90p, getting hard to second guess it at the moment. GLA at that price by next April back to around 1.20 possibly . Still going to hold out at the moment see how it lies after 2.30 tomorrow. might drop a bit more but wont get to greedy if it starts going back to 92p then it could have bellied out . 88p still a bargain
You almost got your 85p already.
Anyway, I've topped up today at 88p. Good enough price for me.
They had "cash and cash equivalents" of £43.8m as at 26/06/22 and say they are embarked on a programme to "mitigate costs".
Mad where this share price is.