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FBU, FLETCHER BUILDING LIMITED
plastic
post Posted: May 26 2021, 06:49 AM
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Aren't they trying to outlaw buybacks in US? Deemed to be an inefficient use of capital. Better to put the money into shareholders' pockets, upgrade capital or integrate something for scale and scope.

Buybacks usually allow the execs' options to be in the money come expiry with no fundamental improvement in business.


QUOTE
Auckland, 26 May 2021: Fletcher Building Limited (‘Fletcher Building’ or the ‘Company’) announces that it will undertake a capital return to shareholders of up to NZ$300 million through an on-market share buyback. The buyback will commence in June 2021.




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What did Uncle Mel do to us?
 
plastic
post Posted: May 12 2021, 08:09 AM
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What will be the spinoff for FBU in the BLD takeover I wonder. USG Boral footprint could get a whole lot bigger. But I suspect Seven will be doing what FBU should be doing. That's breaking the monster up.



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What did Uncle Mel do to us?
 
plastic
post Posted: May 2 2021, 09:17 AM
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Structurally, the forestry industry is similar in NZ. Harvard, Fletcher, Farmer, Hart and other big names own huge acreage of trees in NZ and surprisingly enough there's a supply shortage here as well. I think there's an opportunity here for the Commerce Commission to make an enquiry to see if the squeeze is manufactured or if there really isn't enough trees. If the latter, that bodes incredibly well for Arborgen doesn't it?

Recently the Commission passed their cartel busting laws. The advertising campaign targeted tradesman and wholesalers. If ever there were a worthy case of possible racketeering which is what a cartel does, it is this shortage. But I suspect it will be a case of one law for the tradies and another for uber wealthy.

https://www.zerohedge.com/


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In terms of output, the lumber industry is controlled by just a handful of firms, including Weyerhaeuser Co., Georgia-Pacific LLC, West Fraser Timber Co., Ltd., among others, which makes it easier for capacity to be controlled.

Maybe there's more to the lumber story that we're not being told and should be investigated more in-depth by journalists




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What did Uncle Mel do to us?
 
plastic
post Posted: Apr 20 2021, 12:32 PM
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I can remember in the Tenon days, the major concerns of management were what to do with the impending wall of wood.

Now there's a shortage. Apparently.

Is this for real? Or just a part of the plan?



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What did Uncle Mel do to us?
 
plastic
post Posted: Apr 13 2021, 06:54 PM
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Engaging in cartel like behaviour just became an imprisonable offence today.

Lucky then that after a Commerce Commission enquiry into the gib market Boral-USG turned up to give the impression of a perfectly competitive market.

We just need CSR to turn up to put the cat amongst the pigeons.

Otherwise, I am still left wondering what is the difference between a cozy duopoly and a cartel.




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What did Uncle Mel do to us?
 
plastic
post Posted: Apr 9 2021, 07:45 AM
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USG - Boral being bought up by Knauf. FBU had better get that new plant underway soon to get that increased capacity.

I see a ramping up of competition coming soon. Not good when gib is the cash cow.




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What did Uncle Mel do to us?
 


plastic
post Posted: Feb 18 2021, 06:29 AM
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Left field exogenous threats. Banking collapse. Basel III compliance.

Probably quite the opposite. To mitigate risk and ensure compliance fiscal policy will probably pump up the housing market a bit more. Or perhaps they'll find a new asset class to pump up.

QUOTE
Pillars of Basel III accord
  • Pillar-1 – Enhanced Minimum Capital & Liquidity Requirements.
  • Pillar-2 – Enhanced Supervisory Review Process for Firm-wide Risk Management and Capital Planning.
  • Pillar-3 – Enhanced Risk Disclosure and Market Discipline.




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What did Uncle Mel do to us?
 
plastic
post Posted: Jan 3 2021, 02:29 PM
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Quite.
QUOTE
Value traps are investments that are trading at such low levels and present as buying opportunities for investors but are actually misleading. For a value trap investment, the low price is often accompanied by extended periods of low multiples as well.

Better to break this thing up.




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What did Uncle Mel do to us?
 
plastic
post Posted: Aug 26 2020, 08:46 AM
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Recently been watching the volume for FBU in the mornings. Often just a few tens of thousands go through before Au opens. That is minuscule for a company the size of FBU.

Today in the first half hour, 7.6m shares have traded.

Wtf?

Someone reorganizing their capital? More like major transaction coming IMHO.



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What did Uncle Mel do to us?
 
plastic
post Posted: Aug 14 2020, 04:59 PM
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New exec ahead of break up and naming of shovel ready projects?



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What did Uncle Mel do to us?
 
 


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