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Avenger

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Everything posted by Avenger

  1. Nathan What is your point? Do you have a spine? I am making a point for share holders. We cannot trade. simple as that. We are the ones who lost our money and the ASX chooses us to punish. If the accounts have not been prepared is that my fault? If the Directors choose not to keep you informed is that my fault? ASX and ASIC should get together and start punishing rogue directors rather than innocent share holders. You support of the suspension on the basis that we don't know the outcomes of certain events. If that argument were to stand, how come we can trade any exploration company at all? Do we know the result of explorations before hand? Of course not. We trade on information we have and we make a decision on that. The issue is not what we don't know, but rather that we cannot take a position. What are you going to argue if the company goes into liquidation and you have not been given a chance of recuperating any of your investment? Go back on this site when I argued this same story a couple of years back with ABC. Same arguments from tame goody goody share holders about rules etc. They lost all their money. No director is in jail. Thankfully I had no shares in that Regards
  2. Hi Melua Thanks for confirming my posting on the real reason for the suspension. The ASX and ASIC are the lap dogs of Directors rather than the watch dogs. Under the ASX listing, the granting of the original trading halt due to the pending announcement of the financing arrangement was B.S. A trading halt under the rules is given when the halt is necessary if there is information the market is unaware of. The search for finance was well known to the market. The subsequent suspension is pure B.S. also. Listing rule 17.1 says that there has to be a reason for the suspension and 17.2 says that there has to be a time to the suspension. We have not been given a reason for the suspension. What is there that the market in not aware of? According to the lap dogs at the ASX the term "suspended indefinitely" suffices for 17.2. These guys live in ga ga land. In fact, the only thing the market is unaware of is that they have not lodged the accounts which is not only an offence under the ASX rules, it is also an offence against the ASIC rules. But instead of going after the Directors for not doing their duty, they go after the share holders who are already the victims. And a pompous fool on this site had the temerity once to tell me that Australia had the best regulations in the world. "Pear"
  3. Avenger

    ABS

    In reply to: wolverine on Sunday 09/11/08 08:19pm Hi Wolf I must admit, you sound pretty smart to me! http://www.sharescene.com/html/emoticons/devilsmiley.gif Regards Avenger
  4. Avenger

    ABS

    In reply to: farmer fred on Saturday 08/11/08 08:23pm Excellent Post Farmer Fred. Now add the following, Since Reagan and the advent of neo conservatism, there has been massive redistribution of income from the masses to the few on top. The Gap between rich and poor has widened dramatically. This has been caused by giving the rich massive tax cuts (ala Bush and Howard) and increasing taxes on the lower income earners. Add to this the accumulated wealth of the nation being flogged off (privatised). Add to this speculators forcing the price of oil to $145 and what do we get? The end of capitalism. And why? Because they just do not understand what makes a capitalist system work. Regards Avenger
  5. Avenger

    ABS

    In reply to: wolverine on Saturday 08/11/08 05:35pm Now Now Wolf Sarcasm is not your better side. If we don't understand what we got, how can we protect it? An economic system works within a society. A society has rules and regulations. Or are you proposing that we do away with all regulations of society? I think not. All I am saying is that to have an efficient capitalist system running, we need to understand what make it work. Neo conservatives since Reagan actually thought they were working for capitalism. In fact they were not. They have laid the seed for its destruction. And unless we understand this and stop the rot, we will end up with a similar fate as the Russian or Chinese revolutions. I can be sarcastic also and say that Chinese and Russian (99% of both population) living in semi fuedal states (read semi slavery) prior to the revolutions proves that a captalism society does not work. There were regular famines then also. But who gave a shit about the peasants? Regards Avenger
  6. Avenger

    ABS

    In reply to: Twobees on Saturday 08/11/08 04:45pm Hi Twobees Exactly. Its called a mixed economy. There are some things that Entreprenuers can run much better than governments and there are somethings which only govenments will provide. So do you know the answer to the question I have raised? Regards Avenger
  7. Avenger

    ABS

    In reply to: forrestgump on Saturday 08/11/08 07:34am Hi Forrest In case no body has told you, it is the Capitalist system which has just collapsed and if not for a Socialist type rescue, it would not get back up. Interesting that it was the well efficient run capitalist ANSETT which went into liquidation and not the inefficiently Govenment run Qantas. And it went into liquidation at a time of high regulation. Imagine if it had to compete! We won't mention other Ineffiently run organisations like the Commonwealth Bank, electricity utilities, airports, Telstra etc etc. All set up by "Socialistic" goverments (I wonder how Menzie would feel like being called a socialist) and have had fund managers and merchant banks falling over themselves to buy them at stupid prices from neo conservative govenments. But let's leave ideology aside. Answer me one question. What is the fundamental difference between a Capitalist System and a Socialist System? Don't forget, we are talking about economics here not politics. I agree 100% with you that we can have an efficiently run capitalist system and an ethical system running side by side. Where we get it wrong is that neo conservatives just do not understand what makes a capitalist system work. Regards Avenger
  8. Avenger

    ABS

    To the small number of ABS workers who tried to earn a decent wage and condition by unionising and the subsequent pesecution by this copmpany, I hope you feel vindicated. To Howard and his henchmen who could invent draconoian laws against unions (who in case no one ever bothered to check, are Australian people) but sneered at suggestions to rein in corporate greed, I hope you are satisfied with the mess you have created. Who are you going to blame now? Do you in fact care when the fat piggies walk away with millions after causing all this with your collaboration? To the shareholders of this company, I do feel sorry for you. I truly do. You have done your money cold. In future you may want to consider the ethics of your Board of Directors. Regards Avenger
  9. Avenger

    VCR

    In reply to: wolverine on Friday 31/10/08 12:03pm Hi Wolv Thank you for your post. What you say is correct. Theretically, you only lose the number of shares but the value stays the same. Theoretically! My experience is that in most cases the share price drops back to about the same level it was. In other words it results in massive destruction of value. I know of only two cases where the share has appreciated to the equivelant value. Packer consolidating Bond Media and Pacific Dunlop. But even these are failures. Pacific Dulop was trading at $2.20 pre its 1 for 5 consolidation, and paying a $0.20 dividend. Ansel is now at $12 and paying a $0.26 dividend. And the funny thing is, I have had one of the best and respected poster on SS calling me a fool to suggest that its been a failure. He actually thinks the dividend return is the same! I just don't understand how anybody could think that at these levels VCR is a bargain. It may well be and its your money but I would suggest that you try and answer Lei question before you give these fools your hard earned cash. We still have a long way to go before approval and then there is no guarantee that they will be commercially successful in the USA. Itis still a gamble in my view. I would have thought that in the present market there are plenty of bargains which are not a gamble. Regards Avenger
  10. Avenger

    VCR

    In reply to: lei88 on Thursday 30/10/08 07:50pm Hi Lei Excellent post. Of couse there is nothing to say that the USA market will accept the product when it is an absolute failure in Europe and Australia. But I would suggest that right now this is the least of our worries. The fact is that we small shareholders will not be around for much longer. The capital raising will be a failure. You would have to be an absolute fool to give this mob any money. Live the good life for so long and then when things get tough they got the cheek to put out an announcement on how they are going to try and preserve money and please give us some more. Now do you guys understand why I have been posting about cash burn for so long? Responsible Directors look after cash burn at all times not only when things get tough. But these guys are anything but responsible. This company will head the same way as others with dishonest directors. Shorthly we will see a 1 for 10 capital consolidation. It will be quickly followed up by a placement to a priviliged few. Fat piggies will go on, and we can enjoy the crumbs. Good luck all. Regards Avenger
  11. Avenger

    VCR

    Hi All What's going on here? I see you have all become little "Avengers" I feel like the proverbial Prophet in the desert. We individual shareholders are like sheep to be fleeced. And it only happens because the majority of shareholders are happy to live in a cocoon of ignorance and apathy. And if anybody shouts and tries to stir them ouyt of their apathy, they will deride him. And yet, we individual shareholders have more power than you all think. Have a look at my last post on GPT. How many holders have commented? Regards Avenger
  12. In reply to: macrae on Monday 21/07/08 06:23pm Hi Macrae Are you still holding like me? Are you happy about finding out about the issue from the press rather than your Directors? The price dropped from $1.60 to $1.05 very quickly. Did you see an ASX query? The Disclosure ruler state that Directors have to disclose to the market "when they become aware" of any material....." Is anybody going to argue that a 1.1 issue at a 2/3 discount to the market is not material? So when did they become aware? They have already prepared the prospectus! So are we to believe that the Directors sat yesterday, decided to make an issue, arrange underwriters and produce the prospectus all on the same day? And then there is the fact that Dividends are slashed from $0.20 to $0.072. This is not a 50% reduction because of the dilution. In other words they had revised the dividend from $0.20 to $.14. When did they become aware of this and when was it disclosed? So, any poor bastard who has bought in the last month or so has been fleeced because they have bought in a market in which the Directors have deliberately withheld information. This is the type of Bull S...... which I have been beating my head against the wall for years. ASIC and ASX are an absolute joke. Regards Avenger
  13. In reply to: Twobees on Saturday 18/10/08 03:28pm Hi Twobees Hope yo have a nice job and you are young. Consider if you are in you 60's and you wanted to retire. Your super has been decimated. That means you would end up on the pension. And who pays for that? Consider if you are young and have just taken a mortgage and you worked for Ford and have just been retrenched. Consider if you will lose your job and are forced on the dole. Consider that things are so bad that the Goverment has seen fit to blow $10B to avert a full blown out depression. Consider that the just about every bank in the world is bankrupt. Shall I go on? And what has brought this about? Banks and hedge funds speculating on oil. If this is your idea of "doing us a favour", well mate I would hate to think of what you would do to anybody who crossed you. Regards Avenger
  14. In reply to: Twobees on Saturday 18/10/08 07:56am Hi Twobees Wash your mouth out! Speculators? No such a thing! Haven't you read the experts on this site? You can't take a position on oil because every position opened has to be delivered! So how can you have speculators? Why if you look carefully at the analysis here you will be referred to funds brilliant analysis of why they taking position on oil is good and it keeps the price down. What are you a coomie or something?..... woa woa hang on a sec, I forgot, everybody is a socilist now, what are you a capitalist or something? You belong on a nutter farm! And you can be assured that you will have no stud duties. Avenger
  15. In reply to: henrietta on Thursday 02/10/08 03:46pm LOL Henrietta Had to google that! Done deal! I think the Commonwealth Bank would qualify. Is that good enough? Oh, and just for a sweetner, I'll throw in a clause that 'whatever action you take cannot be looked at or questioned by any present or future body thereby making you immune to any prosecution you may or may not be liable for" Regards Avenger
  16. In reply to: uraniumbull on Thursday 02/10/08 08:15am Hi Uraniumbull The more things change, the more they stay the same. In the '87 crash when all banks got into trouble because of GREED by a small percentage of fat piggies, the mantra was the same. We have to save our banks because banks are the life line of business etc. etc. Now we see it all over again. What banks want is privatising profits and socialising losses. At a time of greatest liquidy need in our society, they are talking about increasing interest rates even if the reserve bank drops rates. Reason? They need to maintain profits. Fools and idiots. They have their heads so far up their fat piggies asses that they can't even smell themselves! What do you think will happen to their profits when people start defaulting on loans? I have to laugh at posters who blame the average American and Australian as the cause of this crisis because they borrowed too much. Let see now, banks were forced to loan - Some truth in this. Banks packaged this mortgages and on sold the to other institutions. With AAA ratings. These institutions repackaged and on sold them again with AAA ratings - and so on and so on. Of course all these repackaging was pushed on to the banks by the common people right? So we had a pyramid which worked OK as long as the poor smuck paid his mortgage. Then along came other fat little piggies in the form of hedge funds who speculated the price of oil all the way to US $ 145. With the resultant hike in prices of food and other necessities,the poor smucks could no long afford their mortgage repayments and now the pyramid is collapsing. And always the same mantra - there is no speculation, the free market is best, the pricing mechanism of free enterprise fixes all. Bull shit! And to make matters worse, I have watched in horror as the reserve bank of Australia has attacked the average Australian by increasing interest rates by nearly 5% to combat inflation. What were the major causes of our inflation? Rising petrol prices (Because of speculators) and rising price of food due to the drought. I defy anybody to explain how an increase in interest rates will drop the price of petrol or make the drought go away. As I keep telling every body, you want the problems fixed? Appoint me as absolute dictator! Regards Avenger
  17. In reply to: arty on Monday 29/09/08 09:51pm Hello Arty I think the senate was correct in rejecting the deal. I think the way to go is to Nationalise all banks in the USA. Looks like none of them are worth anything. Run them for a few years until all this rubbish works its way through, and the privatise them again at a huge profit. By the way, by Nationalizing, I mean take them over. No compensation. If shareholders don't like it tough. They will remain shareholders because the banks would now belong to everybody. As it is, shareholders have nothing anyway. Think my ideas are drastic? I am proposing that a minority suffer for the good of everybody. What the package wants to do is make every body suffer for the benefit of the few. I just have to laugh when I hear people getting paid "thosand of dollars per hour" needing incentives. Ever heard the term "ask not what you country can do for you, but what can you do for your country?" How much do we now need men of vision like that compared to the FWits who have been runnings the USA? Regards Avenger
  18. Avenger

    CNN

    In reply to: wendychen on Wednesday 10/09/08 05:41pm Hi Wendy Can you please explain "I got IM at $0.10 issue last week". Does that mean that you have bought shares in Aquenox at $0.10? Also which company got the big goverment project, was it Aquenox or RIO? As far as China goes, what has changed from a few years ago when we had a Chine company investing in CNN and then left after a couple of years? Your help is appreciated. Regards Avenger
  19. In reply to: wolverine on Saturday 27/09/08 03:24pm Lol Wolv OK Boss, when do I start? You own me, but no physical OK? Ian Withchurch from 'Peak Oil' wanted to get physical with me (obviously he hasn't seen me - he may be thinking of the original "Avengers"- otherwise he wouldn't offer) And don't get me started on accountants. Their promoting bull s.... Accounting Standards has led to Directors producing meaningless accounts. Accountantants have moved away from the concept of conservatism where a $ was reported to be a $, to where what you read is "This is probably a $." The CA motto of "without fear or favour" has truly become "how much and what answer do you want". The collapse of the financial system because of immitigated greed has not happened overnight. How come all these banks had clean Audit reports? How come the rubbish that they were selling was rated AAA by agencies? Just another examples of paying for million of dollars to fat piggies and getting nothing in return and they cry "do not regulate us" we know best. And don't forget Wolf, in me you are getting a flyer, I don't come to you, you relocate your business to Melbourne (if you are interstate). And my first decision is to sack your Accountant and write off 30% of your asset to Zero. But don't worry, next year i'll sell these assets for a few $ and I'll be a hero in your eyes. Oh and by the way, just in case those pesky average Australians cause more problems, and your business goes bad, I have had my laweyer draft a "Golden Parachute" clause in my contract. Regards Avenger
  20. In reply to: slayer on Wednesday 24/09/08 07:11pm Hi All Did any body read the pleading from the fat little piggie at the ANZ bank in the age during the week regarding the rescue package in the USA? Funny, fat little piggie does not want any regulation on banks. No sir, if we can't make money one way, we'll just raise fees - because we can! If we are incompetent and make bad decisions, why it is the fault of "greedy average Australians" who have the temerity to aspire in owining their own house!". So we'll just up fees again! In the good old days of when we were a socialist country and "every body could afford to buy a house" (before the abomination of the Howard government with his massive redistribution of wealth from the average to the rich few) it was the unions who were the "greedy" ones pushing for unrealistic wages and conditions. The mantle has now squarely passed from the unions to fat little piggies in banks and other public companies. There is a cancer in western society and it is called greed. Fat little piggies wanting more and more and don't give a S... on how this is achieved. Tame shareholders approved one CEO's of a failed USA bank, $17,000 per hour. Read it again. $17,000 per hour! But of course his bank has now failed because of the average American defaulting, right? not his fault. So its only right that the average Joe pays for it. and No, you can rescue us by taking the rubbish off my hands, but don't you dare look at my salary. Poulston actually said that he didn't want to look at salaries because he didn't want to affect companies incentives. At $17,000 per hour and he still needs incentives to work! God dam it,now that all little fat piggies have joined my side as a socialist - and I was the only socialist left in the world- it behoves me to become the only capitalist left in the world! So is anybody out there willing to pay this little piggie $10,000 per hour? How about you Wolverine? Does your company need a new CEO. I'll even discount for you to $5,000 per hour. Or have you also turned into a socialist? http://www.sharescene.com/html/emoticons/biggrin.gif Regards Avenger PS go Hawks!
  21. In reply to: wolverine on Sunday 21/09/08 09:19am Hi Wolf Good morning to you also. Glorious morning in Melbourne. You are correct about margins. Australian banks had for ages the highest margins in the world, because they had no competition. With the advent of the Rams etc, they were forced to compete and hence their margins dropped. They more than made up for this in increased fees. Look at their earnings per shares. So who has paid for this? Yes the average Australian. But what has happened in the last year or so? Their cost of capital has dropped by about 1.5%. This has gone straight to their margins. So, do we now assume that being the responsible social animals they are, they will bring their fees down? You hold your breath waiting mate, because I certainly won't. As for talking to my "local bank manager", you always bring a smile to my face. Once upon a time, I indeed had a local bank manager who knew my business and we worked as partners. I could actually ring my branch. When was the last time you tried to do that? Regards Avenger
  22. In reply to: Mags on Saturday 20/09/08 03:07pm Hi Mags We could go around in circles with this. I thought we were discussing inflation. No one is going easy on creditors. You don't pay your mortgage the bank sells you out. If the prperty does not cover your debt, you still have to pay the bank back. (unlike the USA, where they can just walk away) Period! End of story! Banks make bad decisions and to substain their profits they cry poor and expect the average Australian to substain their fat profits by charging higher interest and charges. You are damn right statics don't lie! In a period of low inflation, bank fees have increased by more than 300%. You are in business you don't see this? And always under the catch phrase of "don't regulate us we are not greedy fat piggies!" And I love your outlook on life on the average Australian. Two houses, plasma TV, 4 weeks annual leave, sick leave etc.. VERY VERY costly to businesses is it not? But tell me my friend, if the average person did not have this, just who would be buying your goods or services? An African on an average $5 per month? But of course it is very easy to attack the "average" because statitists don't lie do they? But lets see now, how do you justify a chartered accountand charging $1,000 per HOUR?, How do you justify a lawyer charging $5,000 per hour? When the "average" gets $1,000 per week? How do you justify the banks CEOs' receiving millions in annual salaries and then expect the average Joe to pay for their mistakes? Now let me try and guess your answer "Supply and demand" right? Regards Avenger
  23. In reply to: Mags on Thursday 21/08/08 07:08pm Hi Maggs No doubt one of the "best" posts I have ever read. Pardon my ignorance. But is not inflation defined as "cost of goods and services going up?" So what are you saying about the banks being able to charge higher prices? Oh now I understand! My bank shares are ok, let some one else carry the can! In case no one has told you, the cost of capital to the major 4 has declined not increased since the collapse of the financial systems. Read what the reserve bank has said. So if you want inflation to drop, then you should be demanding banks pass these costs to the consumer. I will throw your own argument back at you. If the banks were so stupid to lend too much money to people who could not afford it, why should they recover it from me (and you by the sound of it) who are not over our head? What abiut idiotic investments like Opes? You are actually saying that the banks have a right to fuel inflation because of their bad decisions. Mate you must be living in a cave if you fear regulation! We have just witnessed the death of the so called unregulated financial system - and it has had nothing to do with unions and consumers - and you fear regulation! Geez, the crumbs that fall off the table of bloated piggies must be sweet. Regards Avenger
  24. In reply to: Duster on Saturday 20/09/08 10:31am Hi Duster Have a look at CNN. $5M in bank. No Debt. Look at their history of spin offs. Regards Avenger
  25. Avenger

    VCR

    In reply to: Clocker on Monday 01/09/08 05:30pm Hi Clocker One question for you. In your analysis, how much are you allowing for insurance? Don't know how old you guys are, but I had shares in Pacific Dunlop which had a cash cow in the USa with a heart device. Pacific Dunlop never officially told anyone, but the fact is that insurance in the USA was so expensive that they decided to self insure. The USA being the litigous country it is, blew PD out of the water when they were sued. Hope you allow for insurance in your analysis, otherwise you may be way off the mark. Regards Avenger
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