Gordon Stein, CFO of CleanTech Lithium, explains why CTL acquired the 23 Laguna Verde licenses. Watch the video here.
Hi Vic,
Thanks for not replying to my messages and emails regarding giving PB a serious payout and no ongoing costs to exit Australia. Instead, in your wisdom, you thew a few more million at shutting it down entirely, rendering the total of what was spent in OZ as useless and a complete waste. So instead of saving PB between 5-10 million, you threw more money down the drain. Amazing.
Now watching you waste and ruin the rest of what's left of this empty shell of a mess, I anoint thee "Unemployabe".
Even Burger King should think twice before giving you a job because you probably would screw up cleaning the tables, and not even 1/2 the people you serve coming through Drive Thru would get their food!
Up to you mate, but PB is in freefall because they just destroyed the soldiers' morale permanently. I worked for a large organisation in OZ that was publicly listed and they destroyed the soldiers' morale and they went the way of the dod within 2 years after 2 different big companies thought they could inject cash to solve the problem.
Morale is only solved with cash if you give it to the soldiers by the way of reward for a good job done.
So listen or ignore, up to you.
I know one thing for sure, their problem is not related to the Corona Virus, it's related to management partaking in so many Conrona Beers, they can't see the wood from the trees.
Guys, it'll probably be 50p by easter. I'd be getting out!
Hi Sain and Cybs,
Yes, it seems Territory Managers are left off these days, and I doubt the 5 year contracts will be renewed in favour of the Territory Managers or LPE's. Let's face it, they'll be looking for ways to boost profits, and they seem to think their best targets are now reducing the employee's pay cheques.
Hi Cybs,
Yes, I know her well; we did the two weeks of initial training together. She is now a territory manager for the last six months, so she gets paid about $250 per listing that the LPE's under her sign up, and they work under her License if things go pear-shaped.
> Hats off to this enterprising Bricks LPE for Thetford in using his kids animals stickers to give the property that extra rural vibe !!
https://www.propertyindustryeye.com/wp-content/uploads/2019/05/Screen-Shot-2019-05-15-at-16.20.05.jpg
Hi Sain, just saw this from your post on Thursday. Hilarious!
Love this paragraph slipped into the middle that article Sain:
The recent āsellā notes on Purple Bricks arenāt just because of the over-expansion in the US and Australia. The model has gaping holes and the marketing budget is way too flamboyant. The departure of the firmās founder and the drop in share price is just another indication that all is not well.
>Or did they provide support over there too?
They did provide underpinning for your first 3 months of employment to top up your income if you didn't get enough instructions. After that, some got it if they asked the right people nicely and some didn't.
It became impossible for some to survive very early in the peace, and PB happily let people go rather than help them in the hope the next one would be more productive.
Of course you can now see how well their strategy worked and how it's working in the UK and USA.
The comments Sain posted below from PIE about the LPE's barely managing to be able to afford to eat is no laughing matter, and it is the reality of their plight.
I cannot believe they're still there, and do you really think there's a chance it's going to get better?
Yep, I love how the truth is now pouring out and everything I ever said is being validated by people on the ground in the UK and USA more and more.
What is it called when so many people lose the shirt off their backs in an investment and just a few people at the top manage to walk away with barrow loads of money?
This guy sums up several points really well:
cyber_truth
May 8, 2019 at 20:47
#69
Michael Bruce firing was long overdue and Paul Pindar, Chairman did not act fast enough. He should be lead out of the business and both are guilty. Michael Bruce had the reins of all global operations, especially in the US where he purchased a $5 million dollar home 5 minutes from the office before they launched to influence every decision in the business. Itās why their local executive team exited along with other markets. Only ones remaining at Purplebricks are the ones that need a paycheck until they secure a better position. Vic Darvey has no estate agency experience and was not liked when he was introduced and does not have the trust or respect from the local UK team. It was a Paul Pindar hiring. He will be in play to unwind global operations while trying to keep UK alive and would not surprised if heās already looking for his next role. This company has been destroyed and Bruce brothers lead the charge, driving the share price higher on speculation with global expansion and then selling before they reported to then city. I expect a full investigation into their security dealings and family members that reaped the benefits through positions, stock grants and more. Kenny Bruce had his in-laws on payroll in the US and Michael Bruce hired his brother inlaw to lead a team in the UK. In the US, they brought a 27-year old kid with no qualifications to lead California as State Director, despite everyoneās objections. Bruce brothers killed the company they started and the Board did nothing until it was too late. Bruceās protected some people who were drinking friends using investorās capital. Stay tuned as we expect a response from regulators and institutional investors that demand their money back once more is disclosed on Bruce brotherās reckless behavior across the globe with the Board just watching. Only the desperate remain with the company.
Of course the article linked below is just a competitor's opinion.... but he's saying the same thing I'm saying and he's a lot wiser than I am.
Australia was never really doing better than the UK, but hey spun that yarn with a bit of creative accounting. Maybe that helped the share price at the time a bit ya?
> I presume you signed up with PB because of the early success in the UK?
I fell for the smoke and mirrors. Once behind the scenes for 6 months the cracks started to really show. To start with, the number of appraisals kept me too busy to question all the shortcomings. Once the honeymoon was over for the public and me though, well you know the story.
Cybs, I notice you always pushback with everyone's opinion, regardless. Why do you like to fight?
https://www.realestatebusiness.com.au/breaking-news/18189-purplebricks-completely-wrong-says-c21-boss?utm_source=RealEstateBusiness&utm_campaign=29_01_19&utm_medium=email&utm_content=1
Cybs, if you get a house "Sold", that's a success. My point is that Aussies identify with success and local area knowledge.
Yep, PB are trying to appeal to the fact that some agents don't deserve a big commission.
I am trying to tell you that the majority of Aussies will go with a successful agent that has a history of getting the job done at the highest sale price, and if he can afford a nice car etc.. he's the guy they want in their corner.
If you don't get the point, that's ok, because PB doesn't either.
>I am sure JV from the City of Lights will have something to say about that
Yes, I do! Their new campaign is now knocking the commission system in a very draconian and negative way, rather than in a modern and funny way as they did with the ads at the start. It emphasises good agents getting rich for doing a good job, which is actually exactly what Aussies identify with. The campaign is like an Australian political advertisement, and in time will actually prove to have the opposite effect PB are hoping for.
More proof they really don't understand how Aussies think. Neil Tavander the new CEO is even "less smart" than the old CEO Ryan Dinsdale, for greenlighting this campaign.
As far as the LPE numbers go, agents continue to leave and viewing assistants continue to be made redundant or become LPE's. Soon there will be no viewing assistants left. Yep, instructions are down and will continue to go down as their deal closers are leaving and the appraisal numbers are dropping. The Australian public are generally wise to PB now, and with their new pricing, they're no longer all that much cheaper, in fact if you don't sell, PB are way more expensive in all of the bread and butter suburbs across the country.
In Australia, a lot of agencies won't charge you a cent if you don't sell, and PB are $4400 upfront on either finance or CC.
Hi Sain,
Do you think that many of the eMoove orphans took them up on the free service offer? The savvy ones who paid by CC could have gotten a refund from their bank and still been able to get the freebie from bricks.
Iām curious if someoneās got a way to check too?
Thereās a very good reason for the decline. They wax lyrical about the big increase in instructions in OZ but that was off a massive 70% decrease, couple that with a massive increase in LPEās (ex viewing assistants), thereās just not enough business to go round to put food on the table.
If they just wave the white flag and let Australia go, theyāll see their share price soar. But they wonāt because they think theyāll crack the market. Only time will tell.
Anyway, Merry Christmas to all!
OMG! Sain how do you spot all these things. BTW do you go by Hillofwad71 on EYE?
"So tell us, Richard, how could eMoov have avoided the train wreck?"
"Well, Kenny, give us a job, and I'll tell ya a yarn me boy"
Hi Ian/propertyboy,
No worries, I wasn't offended in any way. All good!
> https://twitter.com/michaelbrucePB/status/1072490943918563330
Hi propertyboy, don't know why you're directing this at me?
If it's because you want my 2c, then I think MB is trying to be a hero, but we all know he's just trying to do something to help make out their model is sound, despite the fact that eMoov is the writing on the wall for them with the current model.
That's hilarious Sain!