Woolworths Share Discussion Threads

[vikingwarrier] 06/5/2009 19:29

So was there fraud involved here in the mis-pricing of the assets?

[fazersix] 06/5/2009 19:07

boredmum

How are you from f6 LSE wlw site closed !

[sharewinner2] 06/5/2009 16:26

Thanks uknighted, that is what had threw me in the first instance. I could see that the net assets in the accounts equated to 16p and when I checked the definition of NAV it stated value minus liabilities so I didn't know if that was taken into account. Well I've sent my blog to lse now so can only hope all info. is accurate.

(boredmum)

[uknighted] 06/5/2009 15:28

SW2
Wikipedia:
Net asset value (NAV) is a term used to describe the value of an entity's assets less the value of its liabilities. The term is most commonly used in relation to open-ended funds, though it may also be used as a synonym for the book value of a business.

There is no universal method of valuing assets and liabilities for the purposes of calculating net asset value, and the criteria used for the valuation will depend upon the circumstances, the purposes of the valuation and any regulations that may apply.

[sharewinner2] 06/5/2009 14:49

Thanks for the speedy reply. That is the point I am writting in the blog - if you can really trust the nav given and I have used the Woolworths example. It is just when I went to check my facts I noticed in the interim results it gave a net asset of £235million which does equate to 16p a share, I was just checking as I didn't know if this was the figure with the liabilities removed.

I hope you are doing well and hopefuly making up your Woolworths investment in other areas. I am but it can be a hard slog as Woolworths was not my only hit.

[davy99] 06/5/2009 14:36

sharewinner2-It may be found that Woolworths accounts were inaccurate, certainly NAV when assets are in a firesale go out of the window-imho.

Suggest you read Anthony's blog from Jan 2009 & Sept 2008, its content may be copyright.

"Woolworth's long tormented shareholders who invested in the belief that the group had Net Assets of £235 million as reported in September 2008 will be waiting anxiously to learn whether the administrators can explain where their money has gone."

[sharewinner2] 06/5/2009 14:23

Davie - Hi, hope you are well. I haven't visited the thread for a while now but wondering if you could answer something for me. I'm in the process of writing my latest blog for lse about Woolworths and N.A.V. I believed the NAV to be 16p according to the 2008 accounts produced 17th Sept but did that figure include the liabilities taken off or was it just assets?

[fazersix] 29/4/2009 19:19

You signed a petition asking the Prime Minister to "Save Woolworths from
the administrators."

The Prime Minister's Office has responded to that petition and you can view
it here:



A bit late hey !

[sl33py] 29/4/2009 11:33

f6
Post:5970 Nice to see someone is benefitting.I thought about Barclays,did'nt have the balls after this fiasco.
Just passed a former woolies shop in Northenden Manchester,been shuttered for months,it's now being refitted,looks like a possible new Iceland site.

Porketh:You're right it's criminal,someone should be accountable for the way the affairs of the company were run,management seemed to put the company into admin,give the keys to deloittes and just walk away.

[fazersix] 29/4/2009 10:54

Porketh - 29 Apr'09 - 08:49 - 5971 of 5971

100% loganair all down to insurance cover and lack of government intervention.

Still its been a good money spinner for Deloittes and Solicitors, probably the higher staff came out of it smelling of roses i guess !

We are all pawns in the bigger game good luck from a person who nearly bought Barclays at 65p urgh.

[porketh] 29/4/2009 08:49

loganair - 28 Apr'09 - 17:02 - 5968 of 5970

Isnt it T/O is vanity, profit is sanity? :)

I'm still gobsmacked that even in hard times, the administration of WLW could not salvage enough money from the component parts to pay all debts. Its corruption, at best. Blatant fraud at worst, for which someone needs to do some time.

Lots of poeple have lost a lot here, and IMO its simply criminal.

[sl33py] 28/4/2009 21:18

Loganair.
Do you think with hindsight that the board should have accepted the £1 hilco deal that Nag opposed.

[loganair] 28/4/2009 17:02

Just having a quick look in after a couple of months away.

I see that Bertrams/THE has been sold to Smiths News for only £8.6m, when they were bought less than 2 years ago by Woolies for a combined around £50m. Smiths News has got themselves a real bargin.

Turnover is Vain - Profit is every thing. Woolies spent too much of their time looking at the former and hardly any on the latter.

[fazersix] 26/4/2009 12:44

SL33PY - 26 Apr'09 - 12:11 - 5966 of 5966

Yep agree - did wtite to them about the same but received a silly answer we cant help one without the other!

We have to remember at the end of the day the MP's get their wages and Fringe benefits regardless, do they care about woolies 30,000 staff investors and creditors no ?

Think this will come back and bite them imho.

Good luck with your wlw finished my stock trading been burnt too many times by incompitence by others.

[fazersix] 26/4/2009 11:15

Davy99 - 26 Apr'09 - 07:40 - 5964 of 5964

Hi Davy your last post confirms again why woolies bit the dust regardless of all the spin saying they didnt move with the times !!

[martin44] 25/4/2009 22:39

Still in the background watching and waiting.....

[fazersix] 25/4/2009 14:19

bigm4 - 25 Apr'09 - 09:51 - 5961 of 5961

Its a bit like the kettle calling the tea pot !! lol.

[bigm4] 25/4/2009 09:51

Davy cannot believe there are still people here talking about Woolies........oh well each to their own.
I'm gradually making my Woolies losses back with CRA & VIY no advice intended.

Take care matey!!

BigM

[andrewlewis] 24/4/2009 16:28

DAVY99 WLW came from Kingfisher along with Kesa and Super Drug which went private. Strange how WLW drifted into oblivion when it could have been saved and rehabilitated. We are the victims of all the spin that went on. Whenever Bernie Madoff pays me back the money I have invested; maybe I will be back with a vengance. Any news on Bernie?

[davy99] 23/4/2009 16:40

andrewlewis- No particular thoughts, but good luck if you're in them.