Concerns, page-43

That was an interesting interview with Lindsay Partridge, the managing director of BWK. Later in the interview he mentioned that BWK was 100yrs old this year. He has been with them nearly 40yrs. In 47yrs, dividend payments only went down once - in 1975. He mentioned that they have 60% of market share in NY and 70% in Chicago. He said the Texas market is bigger than Australia. As for the discussion of FBR (of which they were a founding investor), points I noted were:

Humans can only lift 10 -15kg blocks all day, whereas HX will cope with 50kg.

For 40 years he's been listening to builders complain about bricklayers.

Shaving a month off the building process would help builders with cash flow, receipt of progress payments.

He said 'iphone kids' are not interested in outdoor jobs, working with hands.



I'm still buying into FBR and remaining patient while FBR and Liebherr proceed through phase 1 of their MOU.