Member Info for TerryM1

I think Shareholders need to keep catastrophising about the new Government after all even their own friends in Unite are against them, we all know this will be a catastrophe. This sends a clear message to the BOD, we want all new developments outside of the UK, no ifs, no buts.

You should never read much into what the fool says but interesting background and tend to agree.

fromage

You left out the bit

"If I did not have them, I would buy Glencore shares today for their undervaluation, strong growth prospects, and the potential resumption of enhanced shareholder rewards."

Perhaps more telling

Bought a few this morning in my trading pot (my Friday sale a lower price), hoping for a repeat of Friday when NY pulls up the LSE shares, if so will sell out but of course as we know could do anything.

"I'm not a JL fan ... but I reiterate ... With the company on the brink of receivership - at the very beginning - what was he supposed to do."

Tell the truth to the people who were paying his salary and he had a duty to protect.

"If he had been transparent then all the business would have been sold off in a massive fire sale and, after debt clearance, shareholders would have been left with nothing."

So he lied and fleeced the shareholders on the RI, however there may have been some cash left to return to shareholders, we don't know, perhaps more than the 12p he took the company to. One thing is sure the shareholders would have been saved his salary.

"Also ... Asset sale takes time ... So he probably had no option other than do the RI to buy enough time to sell the assets for a sensible price."

History tells a different story he just added loses after loses while the company was eating itself alive to stay afloat while lying on turnaround and paying himself a huge salary.

"I know all the RI money has been lost .... But the company survived .... The customer base survived and the revenue has survived"

At a huge cost to the shareholders who would have been far better off if the company was liquidated, that JLs so called turn around, clearly he was not up to the job and should have been honest and passed it to someone like AH.

"Which leads us to the next phase of turn around which is cost cutting (started under JL) and then business transformation (being undertaken by AH)."

Should have been done 6 years ago not when there was very little left to sell off and the game was up for JL.

"I just think a lot of people are being overly harsh on JL."

Really a lot of people lost a lot of money based on JL lies and all for over £1m pa, how much has JL been paid for each lie?

"If he had been "honest" about the state of Capita when he took over .... I don't think Capita would exist today at all"

Then the shareholders who JL was paid to protect would be a lot better off.

Wednesday

I take your point but JL had over 6 years and if we get very very lucky a few more rears to get back to RI price, will need to rise around 3.5 times from current SP and over 5 times from when JL left us.

"However - when JL first looked under the bonnet and found that Capita was a complete basket case on the brink of bankruptcy - what was he supposed to do?"

He should have been honest and told the shareholders the truth, he lied to the shareholders who he was paid to protect, took a huge salary and then fleeced them for more cash with the RI.

"Easy to batter the ex CEO. This was not an easy turnaround and there is way to go yet"

Who else is to blame for losing shareholders far more money than raised in the RI, if the company was liquidated instead of the RI those who took up the rights would have been far better off, those who did not take up the rights still lost over 90% of their holding.

I have lost count of the number of times JL lied that the company would be turned around soon while hiding the real picture with one offs in the accounts. The things he was good at was hiding the real picture and paying himself huge amounts of shareholder cash.

We can see what a decent CEO can do, when AH took over SP down from 130p to as low as 12p under JL and falling now 21p and rising under AH.

Https://www.fool.co.uk/2024/07/15/down-5-glencores-share-price-looks-a-serious-bargain-to-me-now/

Usually don't take to much notice of Fool but seems a decent article.

"I know lots of people lost loads of money in the rights issue (mainly thinking of you Terry M) ... but you could argue that when JL arrived the company was a complete basket case with loads of businesses and very little, if any, profit ..."

"I think JL will be judged more kindly as AH refocuses the company"

As far as I am concerned JL is either totally incompetent or a liar and a fraudster. I say this because if you subscribed for the Rights Issue all your shares are worth far less than what you just paid for the Rights. Therefore CPI at the time was either a hopeless case so the RI was good money after bad, if so why did JL not known this as he could see all the accounts, contracts etc, if this is the case and he did not see this he was incompetent. If it was not that bad at the time then the decline was down to him as he was in charge and sat and watched the business declining just selling more and more to cover loses and his salary as he held on yo retirement. Or perhaps he did know how bad it was and asked for RI money knowing the investors would lose huge amounts, if this is the case he is a liar and a fraudster as he did this to keep his huge salary while shareholders were fleeced.

I also cannot understand how he had the cheek to blame covid for loses when so many other companies were making a fortune administering government give aways and he just stood by and watched.

This is the same Ed Miliband who commissioned the ED stone, I thought this was a poignant symbol of Labour taking us back to the stone age. Heard it was in a pub garden now, perhaps where e all he other plans should be.

"I simply don't trust the people who operate the UK stock market"

Not just the stock market but most of the UK, Government, London Stock Exchange, and a lot large companies obsessed with Woke and ESG, take a look at the Oil and Gas EPL and what Ed Miliband is up to. Also stamp duty really does not help in this global world, apart from Ireland, the UK has the highest level of stamp duty and of course none in the US.

"Strange decision on a day when share price goes up by 5%"

These shorts all seem strange to me as the SP is trending up but perhaps they were looking at the US market and rising £.

Just sold some I bought a few days ago for a short term trade with a nice little profit, brought my average down a bit but still in heavy loses, would like to have held but over exposed. Probably go up from here but nobody goes hungry taking profits.

I will try again

https://www.d-i-r-e-c-t-o-r-s-t-a-l-kinterviews.com/balanced-commercial-property-trust-reduces-office-exposure-and-boosts-fb-sector-investments/4121164536

Just remove -

https://www.***************************/balanced-commercial-property-trust-reduces-office-exposure-and-boosts-fb-sector-investments/4121164536

looks positive.

US inflation came in lower than expected at 3%, treasury yields dropped so should be good for US stocks especially ones with high debt, hopefully a good start for DEC in NY today, will find out soon.

Have a stop loss on my buy today in case it goes bad so should see some profits from it.

"GBP/USD just shot up, gold also shot up…not a good sign for US stocks"

This is because US inflation came in lower than expected at 3%, treasury yields dropped so should be good for US stocks especially ones with high debt, we will see soon.

Rusty is suffering (and so are we) from Compulsive buying disorder, in Rusty's case Wellaholic, he is also a Pathological liar, looks like the even the little piggy bank for the BBs has been raided (may be emptied) so add this lie to the list. Still he can always give himself more free shares which will dilute shareholder value a bit more as he obviously does not care about this. We need the IIs to put some controls on Rusty but as usual they will do nothing as SP drifts and if Rusty gets his way another dividend cut to get more wells or because debt has got out of control.

Does anyone have any details on the new shares, the price and if there is a lock in period, would hate to see this lot hit the market.

So in a short space of time the policy of 40% FCF for dividends has gone, hedging policy changed, high build up of debt including high cost long term fixed price debt (3 times longer than the longest hedge) also add in a lager new block of shares owned by a company where we can only guess what they intentions are all increasing risk, no wonder DEC is the second most shorted stock.

Liar, Liar, Rustys on fire

I am also doing short term trading, bought a few this morning as so far behind US price, Last 4 trades although small have gone well but only scratching the surface of my overall losses on DEC.

Looks like the main reason for the rise is President Biden signed a bill yesterday that encourages growth in nuclear power but news only came out today.

https://finance.yahoo.com/news/why-shares-cameco-nuscale-power-190629723.html