Hey Mike! Remember when you sold that bunch of Tainui shares, the 22.5 million shares in the Ryman company back in 2011? You sold out for $58 million. Hey Mike do you remember where the stock market was at that point in time? We will remind you Mike, the stock market was at a huge low point Mike. That’s right, low-time, big time! The point about buying shares is to sell them when the price is high right? And you sold low, right? Right thats what we predicted back when you hocked em off! Guess what Mike those very shares are trading at $6.40 today! You sold ’em out for a lowly 2 bucks fifty-eight Mike! Today those shares are worth $144,000,000. Sweet Jeezus! One hundred and forty-four million dollars. How much did you lose for us Mike?
You sold us out, you screwed up and lost us a f%#king fortune – Mike Pohio you are such a f%#king idiot, thats what.
And are we supposed to get advice from a clown like you when your desire is to get rid of Te Kauhanganui so that you can continue on your merry way? Hell no!
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May 30, 2013 @ 11:41:05
I know you’re not really interested in the facts but you neglect to mention what the shares were bought for. As I understand it, they were sold at a fairly significant profit. There were also two Te Arataura members who gave their approval for the share sale? You also don’t state what the money raised from the share sale was used for. Perhaps the money was used to help pay for an income producing asset – like Te Awa at the Base for example – which continues to provide income to the tribe. You show your economic illiteracy with your ignorant opinions that are designed only to sow doubt and confusion amongst people who know as little as you do. Selling shares for a profit is a good thing if that money is then reinvested in another investment. it may be that the opportunity cost – there’s an economic term you can look up – ie the cost of the foregone capital gain that would accrue by holding on to the shares, is more than offset by the income stream derived from the tribe’s investment in property – which is a far more stable investment that putting all your faith in a rising sharemarket..Afterall, im sure that if the shares had gone down in value you’d still be calling people names – from the sidelines of course!
May 30, 2013 @ 16:24:09
Who cares what the shares were bought for, any monkey could have sold them when the NZSX was hitting rock-bottom at the time. Get a grip you moron. Who cares that Pohio took the cash from the sale to ‘reinvest’ somewhere else and grab a few percent here and there. What a crock. The fact is that selling out when the market was at the bottom lost us the chance for one hundred and forty-four million dollars. Pohio couldn’t even get the basics right when he sold low instead of taking a defensive position and waiting for the high price. Ryman is in the business of health and old people’s homes, and guess what? The baby boomers are pushing through now and the price for Ryman is sky rocketing. When Pohio sold off our shares they flew out the door quickfire because the buyers knew what a bargain basement deal they were getting. From this evidence I conclude that Pohio is a f%#king idiot and as you are supporting his decision to lose out on $144,000,000 it is blatantly obvious that you are also a f%#king f%#kwit!
May 31, 2013 @ 04:41:04
Katakata, what a crack up! Bloody marvellous info though. Eeehhh these fullahs at the trough eh!
May 31, 2013 @ 08:45:34
Now now Hemi get a grip bro we can agree to disagree without being disagreeable.
Getting very personal gives the game away mate. There are plenty of ways to make good dollars if you have the right connections but of course to do that you have to have the collateral cash reserves to do it with even if the bank is holding onto it and you borrow against your own money?
Sound ridiculous well that is exactly what the American govt are doing with the “Federal Reserve” which is a private company who print the dollars for Uncle Sam and he pays interest on it or I should say the American taxpayers do and the mugs have been doing it for a 100 years.
Ask that “dangerous gang member” from the merril lynch gang. It all comes down to tribalism and having an “in” with the tribe that has the clout to f**k everyone else over first. The whole western financial system and banking is such a rort so the whole thing is corrupt but that’s life bro. If you cannot beat the arseholes join them and play them at their own game.
Tainui could make a lot of money if they thought outside the square and dealt
on a cultural and spiritual basis but because they have taken on the white mans personna they have become too clever for their own good. My mate Wanta deals for some groups in America who entrusted him with $500 mil US to play with and these good old ethnic boys have made a few bucks and keep their heads down. You never hear anything about them unlike the Tainui Matrix players.
Wanta and his team are doing share options with guaranteed stop losses American market only all blue chip and has for the last couple of years averaged 10% per month after brokerage fees. Yes some do stop out but overall it works and they are all 30 day trades so they are time limited. Does not matter if the price goes up or down. I never did understand exactly how it works but I must admit I am intriqued, I wish I had 10mil to play with and unfortunately my $10 haircut money does not cut it. Oh well have to wait for lotto! Never mind such is life.
May 31, 2013 @ 16:54:38
“Does not matter if the price goes up or down.”
Whatever… LOL!
Jun 03, 2013 @ 11:26:23
Eraka’s writers and other tribal members genuinely believe that Mr Pohio’s investment decisions regarding the sell-down of Rymans was procedurally flawed then that is what it is!
We know that Te Arataura members agreed with the CE’s decision and gave the green light to go ahead.
My point is all of us should look at some of the threads of the issues raised to see what’s at stake here so history doesn’t repeat…. maybe its poor process on our part to allow our elected members to make financial decisions on tribal investments when we don’t have insight or oversight into what policies they follow when they enact these decisions!
A full top down audit across our entire business system is a necessary component in the mix of changes, so we can build a better future on a platform of knowledge.
Jun 05, 2013 @ 11:02:18
Yep I tend to agree! The thing is all is not lost but unless the fleas are terminally dosed and kicked out of the tent permanently nothing will change.
We need younger people in there and get rid of the old guard who pretty much have had their day. The old dears are really passed it and too slow too stupid and
too fucken dumb to be able to do anything effective other then ripping others off.
They hold onto the past because the train has left the station and they are not on it.
There are plenty of good opportunities out there but you have to look and be ready to react. So what if Pohio made a mistake mate thats life.
You cannot win them all. Mike is still young and smart and with the right chairman and support he would be okay. The inland port idea is still a good idea and capable of generating a good income and jobs.