Birse Share Discussion Threads

[day_dreamer] 15/4/2005 10:49

10.8p to buy online !

Gravy

[day_dreamer] 15/4/2005 10:45

Blimey even a mm is selling at the lows so where is the bottom ?

Gravy

[mitchy] 14/4/2005 18:57

warranty - agreed,it is pretty steep.I'm holding off taking a bigger position at present.If we haven't heard anything in the next month or so it should be safe to top up then.

[eithin] 14/4/2005 18:56

Top up the "Income shed" time 8.5% yld. BIE,UU. SIXH & LLOY my income shed.All around 7 to 8.5% Forget the price just top up on "downs". BIE top up time.

[mitchy] 14/4/2005 18:49

micheal - it's a fact of life that we must trust lawyers to do their job properly....more fool us, agreed.

All I can say is that i'm confident of Birses future prospects,it's a cracking little outfit IMHO.

[warranty] 14/4/2005 18:31

Well the steeper drop off in share price in the last few weeks seems to indicate that some may know a little more than others. This may indeed be a bargain at this price and the dividend may be 8% but both can drift away quickly if the worst case happens. Just a bit too risky for me at present but good luck to all holders.

[michaeld] 14/4/2005 17:37

They should be able to; I seem to remember that Citibank were claiming around £25m + costs but the adjudicator awarded them around £2m which they have chosen not to accept. I understand that the courts usually uphold or reduce such claims where they have been the subject of adjudication, providing that there is no new evidence to support the claimants? Birse is a bit of a gamble at present imho.

[day_dreamer] 14/4/2005 10:36

I'm not asking where the bottom is for the share price, i want
to know what are the implications should Birse lose the litigation
case, can they cover the potential damages should/if that happened ?

Gravy

[its the oxman] 14/4/2005 10:27

looks oversold and due a bounce

[noiseboy] 14/4/2005 10:25

dreamer,

If any of us knew the bottom on this stock we'd all become rich! :-)

[day_dreamer] 14/4/2005 10:11

What's the worst possible case sceanrio with this stock please ?

Note it's 11.38p to buy online on a 11.25-11.75p monitor spread !

Gravy

[michaeld] 14/4/2005 09:50

I agree Mitchy that the underlying business is good and has great potential but most of the good work has been undone by bad (imho) decisions by senior management? Anyone who relies on lawyers, is a fool; they love causing litigation and dispute for obvious reasons.
There was no reason for Birse to pull out of building stadiums for example, they just need to make sure that they are going to get paid for the work. As soon as LCFC started to get behind with their 'stage payments' then Birse should have stopped work; at least they might then have got paid to finish it off by the mortgage company or subsequent owners as well as reducing the loss?

[mitchy] 14/4/2005 07:41

The "mess ups" of which you speak chrissey are not what I would call mess ups.Replacing the Rover 600 which competed with BMW and AUDI and replace it with the Rover 75 which didn't,for example, is what I would call a "mess up".Birse have been 'afflicted' with "outrageous fortune"..IMHO

I don't know what you see Chrissey but I see an underlying core business which is healthy, undervalued,over critisised and growing.

[chrissey] 14/4/2005 05:31

mitchy, all that I can say is that the results speak for themselves.

There have been enough 'mess ups' to warrant a very cautious approach IMHO.

We judge on what we see!

[mitchy] 13/4/2005 19:33

I say again - that is the provence of the lawyers.They could be accused of employing the wrong contract lawyers but that's about it.
Not everyone knows that most football clubs are run by pond life skum bag souless two faced verminous crooks who eat their own children...

[michaeld] 13/4/2005 09:28

Not just Lawyers Mitchy but common sense? Say our local football club asked a building firm to construct a new stadium for it, for example. The instruction is to be made via a 'subsidiary' with no assets except a mortgage and the mortgage company is to have a hold over the deeds of the new stadium upon default of repayment. How many building companies would agree to that cosy little arrangement without insisting that the build money was at least, held in escrow, pending completion? Not many, I'll bet.
As it would appear that LCFC siphoned off some of that build money for players wages etc, surely someone ought to have been facing fraud charges?

[mitchy] 12/4/2005 11:11

vaneric - that was down to the lawyers surely,not Birse...don't get me started on lawyers!

[vaneric] 12/4/2005 10:57

The Leicester City contract problem was surely down to poor control by the management of how contracts are written. A clause in the contract to the effect of "It's not yours until it's paid for" would have been appropriate. As it is the 'phoenix rising from the ashes' Leicester City have a free stadium courtesy of Birse shareholders. V.

[mitchy] 12/4/2005 10:40

chrissy - when I used the phrase "outrageous fortune" I had in mind the Leicster city contract and current litigation....how can either of those thngs be put down to poor project management? Do you have personal knowledge of this company? Can you also be more specific about your claim that they are "remarkably good at messing things up"....

[chrissey] 12/4/2005 10:06

mitchy & hvs, yes we probably are looking at a different Company!

Anyone who has followed this Co will be familiar with persistent project management problems.

Yes, a sound business with positive cash flow and the ability to grow.
Equally the case that they are remarkably good at messing things up on an on-going basis also.

Do you think that a Co. without this kind of baggage would be trading at this yield?

If inappropriate and poor project management is the result of 'outrageous fortune' then I wonder why other organisations who have similar activities are not equally blighted!

I am a holder of these shares so please do not take my comments as deliberately negative.

I see things for what they are and would wish to see things looking a bit better in the future.

[mitchy] 12/4/2005 10:04

They are ALREADY pulling through...

[hvs] 12/4/2005 09:40

I am confident the management will pull through and in a couple of years.

[mitchy] 12/4/2005 09:38

We must be looking at different companies chrissy.I see a growing successful company which has been subject to some outrageous fortune.At it's heart is a board of extremly capable individuals who will grow this business regardless of this legal 'irritation'.I will be buying on drops as I have every confidence in this company to bounce back.

[noiseboy] 12/4/2005 07:37

Spot on Chrissey!