Smurfit Kappa Share Discussion Threads

[lbo] 06/5/2010 08:32

THE chairman of NAMA issued a stark warning to developers yesterday, saying nobody is too big to fail



Developers in denial on lifestyles, says NAMA chief



SOME of the country's top developers are still living boom-time lifestyles despite the collapse of their property empires and some have yet to hold face-to-face meetings with the National Asset Management Agency (NAMA), chairman Frank Daly complained yesterday.

[lbo] 03/5/2010 23:42

Dublin Airport Authority loses €13m


The 16 directors who served with the DAA last year were paid €187,000 in fees. New chairman David Dilger earned €19,200. His predecessor, Gary McGann, who resigned last year following controversy about his involvement as a director with Anglo Irish Bank prior to its nationalisation, was paid €7,500 in 2009.

Mr McGann earned €35,000 in 2008.

[luchan] 30/4/2010 19:10

Chaps,

broker UPGRADE ... ...

Credit Suisse 7.3 9.9 35.62%


Traget of 9.9 ... very happy if we get there!! ;)

luchan.

[lbo] 27/4/2010 13:12

Who else were Goldmans recently pumping? Seems when they tell some to buy they are actually selling!!! LOL

Goldman Sachs 'has a lot to answer for' says US Senate





Goldman Sachs Robbed the EU By Way of Greece

[lbo] 22/4/2010 10:35

Gannon to sell 49% share in K Club



IMF report on global financial stability



Interesting note on the equity markets. looking at historic P/E ratios, the IMF staff concludes that back in February 2010 "For advanced economies, equity valuations are within historical norms". Except for Ireland, which deserves its own note: "Forward-looking price-to-earnings ratios of Ireland appear elevated due largely to sharp downward revisions in earnings projections."

So, read this carefully: Irish stocks were overvalued - based on forecast forward P/Es - back in the time of the paper preparation. Using z-scores (deviation of the latest measure from either the historical average or the forward forecast based on IMF model) for Irish equities are: +2.1 for shorter horizon (a simplified 96% chance of a downward correction) and +0.9 for longer term forecasts (roughly 63% chance of downward adjustment). In other words, the market is overpriced both in the short term and in the long run. Worse than that, we have the highest short and long term horizon over pricing in the world!

In housing markets, our price/rent ratio z-score is +1.1 (74% probability of deterioration), which means we are somewhat close to the bottoming out but are not quite there. How big is the 'somewhat' the IMF wont tell, but it looks like we are still 1.1 standard deviations above the equilibrium price. Price to income ratio - the affordability metric is at +0.8 stdevs, so prices might still have to fall further to catch up with fallen incomes (57% probability).

[lbo] 18/4/2010 22:44

The main investigation into the Irish banking crisis is to be completed by June and up to 15 people could face prosecution as a result, the Sunday Independent has learned.

[smicker] 16/4/2010 23:06

I still dont understand how this is relevant to SKG

[lbo] 16/4/2010 22:25

Goldman Sachs charged with fraud

[lbo] 16/4/2010 22:11

LOL

Ask Gary McGann what the relevance is to Smurfit of Ballymore and Anglo Irish bank

[smicker] 14/4/2010 13:42

LBO,
What is the relevance here to SKG? Theres a board for Irish shares in general

[lbo] 14/4/2010 13:33

Ballymore firm made a €10.9m loss



Accounts recently filed show that Ballymore Properties Ireland, part of property developer Seán Mulryan's Ballymore Properties, made a pre-tax loss of €10.9m in the year to the end of March 2009.

This was little changed from the €10m loss reported in the previous financial year. Turnover slumped, however, from €15.9m to €4.4m

[smicker] 13/4/2010 23:06

looking good again

[lbo] 13/4/2010 15:41

The next incoming train has left its first station

[lbo] 11/4/2010 21:43

Stockbroker apologises to EMPG investors
Davy tells private clients that portfolio value has been written down to nil

[lbo] 07/4/2010 21:11

Smurfit Kappa Group will provisionally suspend production at its Nanterre mill which produces recycled corrugated case material. The company announced that the mill may stay idle for a maximum of 31 weeks. The measure will be accompanied by short working agreements for the mill's employees. Suspension of the mill's operations will withdraw up to 85,000 t of corrugated case material from the market, Smurfit Kappa said.

[lbo] 01/4/2010 18:46

Ex-Anglo bosses 'thought they could walk on water'





Gary McGann had large sums in loans from the bank, amounting to €10.6m at the end of 2009. The report does not include any provision for McGann's loans not being repaid.

[lbo] 24/3/2010 09:22

McAteer arrested in second Anglo swoop


A second former official of AngloIrish Bank has been arrested by gardai probing irregularities at the bank.

Believed to be former finance director and chief risk officer William McAteer, he was arrested at in a swoop at half past six this morning.

He is being held at Irishtown garda station in Dublin under section 4 of the Criminal Justice(Theft and Fraud Offences) Act.

His arrest follows that last week of his former boss Sean FitzPatrick, who was questioned by 24 hours by gardai before being released without charge.

[lbo] 19/3/2010 23:07

Smurfit and banks take hardest fall



In Dublin, the biggest faller was Smurfit,which tumbled 6.1pc to €5.70 after the stock was cut to neutral from buy at Bank of America Merrill Lynch amid fears that paper prices have risen too far.

[lbo] 18/3/2010 23:19

If you lie down with dogs you are bound to pick up fleas! And guess who have been buying Smurfit kappa shares! Gartmore Irish growth fund no less!



FitzPatrick also resigned in December 2008, from the boards of Smurfit Kappa, Aer Lingus, food group Greencore and investor, Gartmore Irish Growth Fund.

[hermana3] 18/3/2010 12:24

Former SmurfitKappa Chairman too!!!

[lbo] 18/3/2010 12:22

Former Anglo Irish boss FitzPatrick arrested

[lbo] 17/3/2010 17:03

Smurfit Kappa was down 3.2pc to €6.15 after a downbeat report by Goodbody's Robert Eason downgraded full-year EBITDA forecasts