Globo Share Discussion Threads

[luckymouse] 08/11/2015 12:19

O/T - RogerLawson - interestingly the City of London as a world financial institution only exists because 100 odd yrs ago there was little or no regulation - it therefore attracted all sorts of foreign banks who could indulge in certain practices which would have been frowned upon back home.
When the regs tightened in the 1980s many left or shrank their presence. It is a sad fact that the tighter the regs the smaller the banks margins become and the laxer the regs the greater the occurrence of aggressive profiteering strategies - so they tend to be drawn to light regulatory regimes - which implies they 'always' wanted at least a portion of their business to be in the aggressive category. It is against this historical cultural backdrop that you find yourself fighting in the city. And many of the people you are trying to appeal to are often of director class themselves. From their perspective why stop the huge gravy train for everyone just because of the odd scandal?

I agree aim regs & directors need to be reigned in a bit - although with directors in the USA typically being paid more in mid & large caps performance only is a hard argument to make stick. Your best bet is tighter regs and an introduction of 'special measures' imv

Thank you for your efforts

[andy] 08/11/2015 11:50

pauly pilot,

Cheers! the cheque's in the post! LOL!

My comments were not directed at you personally, it was the principal of charging so much to fee paying members, but I'm sure you realised that.

[rcturner2] 08/11/2015 10:45

There wasn't an information vacuum, that is total nonsense.

Bulls believed Costis and the company statements. Bears either had very strong reservations or were risk averse. All of that was available for anyone reading the threads.

[elcapital] 08/11/2015 09:12

loverat - is he guilty until proven innocent?

[paulypilot] 08/11/2015 04:40

What a shambles this thread is.

There's absolutely no point in engaging with muppets who were stupid enough to hold Globo shares. You're terminally thick. Go off and do something more useful with your lives.

Andy - my personal appearance rate for you has just gone up again. £500 would have sufficed last week, it's now £5bn. So you'd better get busy doing some QE if you want to be able to afford my pearls of wisdom LOL!

Hugs & big sloppy kisses,

Paul ;-)

(for those who are not endowed with a brain, this post is intended to be ironic)

[hpcg] 08/11/2015 01:27

If subsidiaries are releasing employees one wonders if there is any value at all in the developed products which are now orphaned? It looks pretty much certain there will be zero value left for shareholders.

[poombear] 07/11/2015 22:36

The news report said all staff from 4 US offices had lost their jobs.

[smithie6] 07/11/2015 21:53

Idea

To avoid future cases like Globo ( dream on !)...Tesco...Speedy....et al

Would it be a valid idea to require that listed companies must use a different auditing company every year ?

[smithie6] 07/11/2015 21:21

Disagree....

American workers not paid....sacked by e mail


When accounts bucketz of cash in company accounts....

Why ?
False accounts imho

Take the dirs and auditors to court...
Find guilty..
Court can decide who pays what...

( need to quickly freeze assets from MD share sales )

[smithie6] 07/11/2015 21:17

...good post before....

Video is worth seeing...

---

News video ref. Workers in USA not getting paid and sacked by e mail !!

Video is on you tube

Search google
"Canfield 59 workers"

And its 1st or 2nd result

[firede] 07/11/2015 20:52

The location in Canfield, Ohio was the former headquarters of NotifyMDM. Quite sad for the employees that they got bought up by a fraud and now all lose their job.

[poombear] 07/11/2015 18:44

Sound's like everyone has been laid off. Costis and co really need to pay for what they have inflicted on people here.

[alewis2005] 07/11/2015 18:12

They're firing and unable to pay their staff:
hxxp://wkbn.com/2015/11/06/financial-scandal-forces-50-workers-off-the-job-in-canfield/

"Workers did not get paid Friday and will also lose their next paycheck, covering the latest two weeks of work."

[andy] 07/11/2015 17:20

Roger,

Interesting.

But presumably they only pay the same as fully paid up members at the £45 a head presentations to hear Paul Scott speak?

Doesn't seem fair to me.........

[smithie6] 07/11/2015 16:09

Suggested market boycott
ie. No buying or selling of shares


16-20th November. Week after coming one

Have just tweeted.
If you support the initiative please re-tweet my tweet
@fulltimeinvest

If the boycott gets support it will get TV & newspaper coverage. Media will do interviews. That will all put pressure on London mkts, FCA anf uk Govt. to act and make changes.

To protest about
- Repeated frauds/scandals on London mkts
Globo, QPP, Cupid, Eros, Vislink, DQE, ECDC

- Cant trust co. accounts. Too many are revealed as false

- directors at many companies are too busy enriching themselves rather than working for shareholders

- normal shareholders risk their money by hlding shares but are then excluded from rights issues. = fraud

[roger-lawson] 07/11/2015 16:07

Associate members do not pay, but get a lot fewer services and pay more to attend meetings.

We need more members because the more we have, the more influence we have. We are like a political party - we need members, and as many as possible, for influence!

[andy] 07/11/2015 15:41

davidosh 7 Nov'15 - 13:03 - 25290 of 25294 0 0

OFFICIAL & OPEN REPLY TO DAVIDDOSH



REPLY FOLLOWS.....


The Masterclasses are exceptionally popular. The one on Wednesday was sold out and there was not a single empty seat so these events are clearly meeting demand and crucial to help ShareSoc engage with members and potential members and provide funds to improve our service to members into the future.



Like I said, I personally think £45 for such an event for paid up MEMBERS is naughty, and it's not for me.

I attend many events that are either free or a lot less expensive, so I still think £45 is way too high for paid up members.



ShareSoc does not receive external funding and if members want it to grow then we have to run events and build our membership.


Why does it need to grow? What advantage does that give to current paying members?



and ShareSoc always encourage members to communicate with us.


What? I have sent two emails asking you to cancel my automatic membership renewal, and stating my reasons, and have not received even the courtesy of a reply, never mind confirmation that you will not take the fee again next year!

But you have the time to engage with me on here, so, can I ask you to publicly acknowledge that you have cancelled my membership automatic renewal, and will not take the fee next year?

And why can't you reply to me by email instead of an open bulletin board?



Our last member survey had events and company meetings & seminars as the most important provision to members and it is unfortunate that you prefer ShareSoc to work hard for its members but do so without any income to cover costs !


You are distorting what I said here! Shall we stick to the facts?

I said in my opinion £45 to hear Paul Scott speak is too high for paid up members, and I still think so.

Where did I say I didn't want you to have some income to cover costs?



Our company presentations and seminars are actually free to full members and we even provide excellent catering and drinks for the evening so membership at £45 is excellent value and why our membership is growing


I have not referred to the annual fee, I was referring to the £45 charge to hear Paul Scott speak!



.....incidentally total membership is well over 3000 but the vast majority were our original members who joined for free. We are steadily converting those by showing how much we do


So I pay a £45 membership fee, but most of your 3,000 members don't? Is that what you are saying?

Please explain why I have to pay and most others don't.



Have you engaged with us as individual directors or even attended an event ?

I have attended two events, one ran on so long I had to leave before the company I wanted to hear presented. I thought both meetings were poorly organised on the time management side.

All you need to do is put up a timeline and keep to it.



We have many events....they are almost always full. Please do not throw stones if you have no experience or knowledge of these

First you ask me if I have attended an event, and then you go on to suggest I haven't!

Make up your mind, are you asking me or telling me?

And why are you accusing me of "throwing stones"?

I have an opinion and the right to express it in the correct manner, the last time I checked we still live in a democracy.



You tend to get out, what you put in.


I agree, I paid the membership fee you requested me to pay, and for that I have a choice to attend the free events. No problem.


It is the cost of the £45 I have a problem with, which is personal to me.

I don't care if you packed out Wembley Stadium, I personally disagree with that sort of fee, and for that reason I requested my membership not be automatically renewed next year. If millions of others want to spend that money,fine, it's their money and their choice.



It is your money, your membership and your choice.

Exactly!

That's why I asked you to cancel my automatic renewal, so please confirm here that you have done so.

Andy.

[roger-lawson] 07/11/2015 15:28

Just to get back to the question of Globo, I and others in ShareSoc have already put in quite a lot of effort on this case - I must have spent half of my working hours last week alone on it - mainly advising people, making representations to the directors and to the administrators, talking a lawyer, registering folks interest in a contact database and sending them news emails, etc.

We are the right organisation to try and represent private investors in that regard because we do have considerable knowledge of similar cases, what can be done and what cannot. I don't know of any other organisation which is willing to do this for free.

[roger-lawson] 07/11/2015 15:21

In response to Loverat: we do spend as much time on campaigns as on the other things you mention, but getting substantial political changes in any sphere takes a long time. Reforming company law, the stock market (and in particular AIM, director remuneration, etc, are all major tasks on which it is difficult to achieve instant success because most financial institutions are opposed to change and the Government is reluctant to intervene in what the Conservatives see as simple market dynamics. AIM for example is an "unregulated" market and many people do not wish to see it more regulated - or even the existing regulations enforced.

[loverat] 07/11/2015 14:55

25291

Well, not actually a bad post there with some valid and interesting observations.

I said previously that there is a big gap for a general campaign group of some sort to step on toes/particularly media coverage. But such a group would need to be untainted by scandal, vested interests/shorting/ramping/cosy city lunches/hypocrisy etc

Personally I think ShareSoc has a useful role in several areas and is successful within the confines of what it sets out to do. Investor events, awareness, bringing investors together and some campaigning on certain matters. But I don't think it pretends to be a PI group which will kick up a major fuss or has the militant tendency necessary to bring about the real changes needed.

Likewise - nor do ShareProphets and its writers. Tainted by scandals and hypocrisy and deciding whether it is a site for a select clique of shorters/derampers - or AIM Sheriffs protecting all investors as it claims. Too many contradictions.

You need a group of dedicated, honest individuals with the skills and intelligence who can look beyond the tribal behaviour and self interest of most investors and commentators and unite them behind a message.

Sadly, I don't see anyone filling the gap right now.