profit downgrade for jb affects hvn?, page-10

@ reggiemiller. debt to equity levels are only rellevant when the equities are valued at corect levels, as i posted before, the commercial property portfolio has yet to undergo a proper audit on value..
as for franchisees being under a mountain of debt, well you asked APJAPJ... so i will let him respond. but my info on this is, that it is geared to suck as much money out of the franchisees pocket and deposit it in the coffers of HVN..as possible.
They are under a mountain of debt, advertising fees are massive from the in house advertising company.
Any major capitol works to property are done by shop fitters chosen by the franchisor and costed with no tender proces for cheaper non HVN approved shopfitters.... I wonder why??
The poor franchisee then has to pay up and then more than likely the rent will be increased too.... the franchisee are screwed every which way.
Theres are fees for the computer system they use, interest charges on the goods they hold at rates higher than they could get off a high street bank !!!!
Every thing good you woould think for shareholders???? but unfortunately not.
The money is not returned to the shareholders, its having to be used to cover massive debts in the ongoing Irish 'BoG'!!!
therefore, most of the better operators left years ago to take up good guys franchises, thus weakening the strength of the brand.
Also, to recover other monies wasted on developing in house POS systems, only to shelve them after wasting millions on the developement, when an off the shelf one was cheaper and more effective.. every mistake the board has managed has been covered by the charging the loss to franchisees indirectly, there's probably a accounting reason for them to hide the debt off the HVN bottom line. ( probably i say, as i am not an accountant)
So, now we have Big Gezza announcing his intention to trade on line out of ireland!!! A web based retail arm... franchisees are going to be seeing red over that... literally, as they now have their franchisor as their biggest competitor... and why ireland?? ( i can only think to take up any slack in their capacity???? )
i mean, freight from ireland has to be about as maximum as you can be for freight to OZ, why not base the distribution centre closer to the customers, and therefore also save on wage costs....
but no.... my feeling is that Gerry isnt in it to help his fraqnchisees, nor help his customers, nor help his shareholders. He is in it to score political points over GST, and in so doing there will be AUSSIE jobs lost..... (wasn't it big Gezza that was so proudly anouncing how we are to protect aussie made & aussie jobs)
.... too little care for anyone but himself and the other cronies on the board.... sorry to say it as i used to love this company, but they are now just a dinosaur who beleive their own press too much.