ᔥ Andrew Bolt
The Fairfax share price is heading in only one direction. It will be interesting to see Gina Rinehart delver on her threat to the Chair and the Board.
Fairfax shares have just hit an all-time low – just 51.5 cents.
Ok media experts – throw some light on this. Where would this leave Fairfax’ NZ assets if Gina gets control? Do they make money or is she likely to get rid of them or close them?
I believe Gina will get her seat. Her request for a board seat was very public, and the media including FairFax did a fantastic job of highlighting Gina’s big, and the problems she had identified at Fairfax…… To the public, but ALSO the FairFax mum and dad investors. The ones that have seen their investment sink by at least 33% under the current board and Chairpersons reign.
Where Gina will shine, is she repeatedly states she wants change, and what she wants to do. Her letter to the Chairperson pointing out the difficulties and ongoing issues left the board with a huge task to fix things up. She has strategies and wants CHANGE that all MSM very badly needs. These mum and dad investors will eventually push Gina in, and on to the board, could be a revolution coming there. If she still wants a seat or four at the table.
I would not be surprised to see a resolution calling for the chair and/or entire board to stand down at the next AGM. Gina is not stupid, and not to be crossed.
To buy or not to buy?
The left is spewing and the great unwashed are swallowing their shit. It’s not the end of the world it’s probably the end of the bullshit printed by the great deceivers.
Don’t f&ck with the super rich, they are used to getting their own way & invariably do. Gina will nuke the place.
She has sold down her shareholding…….mmmmm thats why the price has dropped !
She was welcome to buy the company out, that way she doesnt have to ask anybody for a board seat…she could make her pets board members.But all that isnt likely as Gina is just another blowhard. Yes she has mega millions ..on paper but there is not much free cash. Iron ore is unbelievably capital intensive and her free cash is not going to be spent on a fading media company.
Just checked the ASX notices Hancock Prospecting has gone down from 18% to 14%
Another glorious fisking by le sphincter, Gina has run away. like all blowhards do.
Hekia Parata – runs away
Ports Of Auckland- runs away