No idea hey.
Let me tell you about where I get my cynicism and how business works. This is just one story.
Years ago when I was a bit more naïve I took an interest in Crown Casino and how that played out. You see the Packers wanted it but laws at the time forbade them from the tender process due to them already owning the Perth casino. Now their good friend and business partner Lloyd Williams who is also a close friend of Liberal party heavy weight Ron Walker and then premier Jeff Kennett tendered for the building and the running of the casino and amazingly despite never having been involved in the casino business Lloyd Williams Hudson Conway Group were awarded the license by the Kennett government.
The Shares listed at 80 cents from memory and no sooner had they begun operating the share price began to plummet as apparently they weren't making any money Now being from Melbourne I had been to the casino many times and it was packed with punters. I found it hard to believe. Story's of higher then expected costs, one of anomalies even an extraordinary run of luck by high rollers was blamed for the price collapse. The share price languished in the low 20's and people were hurting.
Then after a couple of years in the doldrums in come the Packers, the proverbial white knights. You see although they couldn't tender for the casino they could buy on market but why buy for a buck when you can wait and buy in the 20's which is exactly what they did. They bought Hudson Conway's majority holding and the rest couldn't sell fast enough. Then like a phoenix from the ashes the share price began to recover into the many dollars. The Packers had miraculously weaved their magic. The mum and dad investors who got burnt on the way down were just cannon fodder.
I sat back and thought "wow" so that's how you make a billion dollars. The trick is to run the scam over many years
so it appears organic. The first group of managers were merely prepping the share price for a low take over.
Sound Familiar.
No idea hey. Let me tell you about where I get my cynicism and...
-
- There are more pages in this discussion • 79 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add AVR (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
$18.31 |
Change
0.000(0.00%) |
Mkt cap ! $351.9M | |||
| Open | High | Low | Value | Volume |
| $18.30 | $19.00 | $18.00 | $363.4K | 19.82K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 500 | $18.13 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $18.50 | 1000 | 1 |
View Market Depth
| Last trade - 15.59pm 01/07/2024 (20 minute delay) ? |
| AVR (ASX) Chart |