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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Colliers Intl | COL | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 0.80 | 00:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 0.80 |
| Top Posts |
|---|
Posted at 29/5/2012 04:16 by loverat I posted this elsewhere about corporate greed in AIM boardrooms and greed and unnaccountablity elsewhere. I wonder if the directors think they have got away scot free from this. If so, they can think again. Publicity is the key to dealing with inept and greedy directors.This article posted on another AIM board and my comments: Sir Richard Needham quits Lonrho board after bust-up with chairman. Loverat 29 May'12 - 05:12 - 239 of 239 edit I found that article quite revealing and amusing. The man seems to be either somene who thrives on publicity (often bad) or is his own worst enenemy. Some directors never learn do they? I heard and read a few things yesterday which sort of made me think of my investments on AIM and the directors who act like a law unto themselves and who are downright greedy. Most AIM investors seem to grudgingly accept corporate greed as part of life. My feeling was that there seems to be signs that public mood is rapidly changing and that 'payback time' is near for some. Certainly been a few shareholder revolts lately and interesting fellow directors are now joinng in. Good on them - lets see more directors protect their shareholders against this type of thing. After all, their duty is to shareholders - not to themselves. These are quotes I observed elsewhere yesterday which made me think. This from Law Society Gazette which sums up the greed which seems to have taken hold in our society generally. This describing the greed of insurers, claims managment companies and solicitors in dealing with injury claims: 'Sadly, such practices are symptomatic of our times, whereby financial gain and profiteering by all players within the current PI system - insurers, claims management companies and solicitors among them - have been put far above the rights and needs of injured persons.' Tony Blair at the Leveson Enquiry describing (if my memory serves) briefing against other ministers: 'I did not take part in the practice myself because I strongly believe what goes around comes around' Too right it does! |
Posted at 31/3/2012 05:46 by loverat John Riblat - the fool who presided over the mess.Interesting that Barclays got stuffed too. As I said before, this cynical and despicable action has ensured money has been transferred from the ordinary shareholder to the pockets of the millionaire carpet baggers. The other thing I find quite surprising is the reference to the debt levels when comparing to the previous financial statements. As far as I recall the debt level was not flagged up as some sort of particular concern. In fact they carried on expanding. Why did they not talk to their bank before? No, this pre pack must have been planned for some time. The share price decimation, the silence from the company, no trading statement. I bet they sat there and watched DTZ and thought - yeah why not do the same. Let's continue being paid our huge salaries, rip off investors and the banks off and for doing little or nothing. It is morally wrong that these millionaires can walk away from their responsibilities like this. What sort of example does it set for ordinary people? Quite a scandal this is and there is going to be a heck of alot of noise very soon. |
Posted at 29/3/2012 09:26 by envirovision Scburbs theres a big problem here.They purposely went about expanding Colliers UK and did so without the resources to do so, expanding into administration. The 90% owner of Colliers worldwide happily allowed and from what I can tell possibly encouraged this expansion. As a result it picks up all of Colliers UK from prepack and the other equity investors are the ones who footed the bill. These other people are people like you and me and Mrs Jones down the road doing her best to save for her pension through some private pension fund manager. That cant be right can it ? FFS they are so pleased with the expansion into prepack they have rewarded the UK management team and Tony Horrell with continued roles including EMEA on the Board of Colliers International Governing Committee. I wonder if they will all get fat pay rises and extra benefits later this year ? we probably wont know, but I would imagine yes they probably will. Others can think what they like, but as far as I am concerned, this type of thing is completely and utterly out of order and equity holders need some form of protection from it. Naming and shaming as Loverat suggests sounds useful but what will that achieve ? and also you're talking about trying to shame people who £800-£1500 per hour media lawyers are pocket change to, and the likes who could probably shut you up in the blink of an eye. |
Posted at 28/3/2012 21:23 by loverat Indeed envirovision.I have specifically been waiting for events here to unfold. Colliers I believe is a well known and respected brand and this is not the sort of company you would normally associate with ripping off investors in such a cynical and calculated way. This is what is going to make it so newsworthy and strike a chord with investors everywhere. The events over the last year, the destruction of the share price, First Service and finally the theft of shareholders funds completes the story. Let's see whether in a year's time this company and their directors regret the day they went down this path. Coverage also on the carpetbaggers - First Service. Anyway - lets see if we can get things started. |
Posted at 28/3/2012 21:10 by envirovision Sounds an excellent idea. What we need to do is bring the scams which frequently occur with listed companies to the general public. We need to highlight the systematic wealth destruction of investors equity carried out on a daily basis by many listed companies (Colliers being the latest), also the total lack of care and responsibility of funds managers throwing others peoples money about should be included, as should the failings of the regulatory systems and the stock exchange itself. An emphasis should be on AIM and the scale of almost monthly frauds and failings of the stock exchange should be priority. |
Posted at 09/2/2012 19:43 by jojo_jo Looking at the Cosalt thread, it seems that a group of investors holding around 25% of the stock (votes) are going to put the block on Mr Ross's plans to get Cosalt for (virtually) nothing. Like I've said, don't be bullied into selling cheaply to First Service. Wait for the bidding and only give your share up when you have to. NEVER vote in favour of the FS takeover. Ignore self-interested directors who just want to save their jobs. They have probably been hoodwinked too, because I doubt FS would leave this business in the hands of a BOD who had overseen such a collapse in shareholder value. No other big company in this space has performed so badly over the last 2 years! Customers don't seem to want to take the advice of the management, so why should shareholders? IMPO/DYOR. |
Posted at 31/1/2012 01:08 by jojo_jo There is nothing untoward in one Franchisee buying another (it happens all the time with McDonalds, Subway, etc). In fact it more much more common than the Franchisor buying an operator. The expression 'going up against' is a tad misleading, as Franchisors tend to step in when an operator can't find an independant buyer. You would not be competing with McDonalds when buying a second Franchise off another Franchisee. First Service may not be ecstatic about it, but it's all part of the game and perfectly normal. Colliers Austria appears to be an unlisted private company (no stock price, investors page, accounts, etc shown on their site). Acquisition would therefore serve both the purpose of expanding in Europe and listing in London. I don't think our current lenders would have any qualms. If I was a lender I'd certainly be happier with Colliers Austria than FS. I don't think for a second that Muzicant's share buying has been done in concert. It looks every bit a preparation for a serious bid. From the Colliers Austria website... In addition to providing traditional brokerage services for retail firms, such as Eduscho, Vita Drogeriemärkte and McDonald's, we have developed not only new client relationships, for example with Impo, H&M, Douglas, Zara and Mango, but also new areas of business, such as brokerage of offices, rental apartment buildings and industrial real estate, as well as development of office buildings, e.g. the Internationales Zentrum Donaustadt with the IZD Tower, the largest private real estate investment project in Austria. In 1994 Columbus Immobilien joined Colliers International, representing an increasing number of international clients moving into the Austrian market as well as taking care - in cooperation with the local Colliers offices - of Austrian firms expanding their business abroad. In 2005, Georg B. Muzicant, Ariel's son, joined the firm to make it a third generation family business. Based on his several years' experience in the Anglo-American real estate business, he is focused on the establishment of a highly competitive development division for national and international projects. In the past couple of years, the real estate market has become more and more international and thus changed significantly. In order to meet the future challenges of an enlarged Europe, we have expanded our services and become more specialized. -------------------- The picture has changed dramatically today! FS will have to re-think this pretty damn quick. There are going to be other bidders too, once FS show their hand. It's beginning to play out as predicted. IMPO/DYOR. |
Posted at 29/1/2012 13:12 by jojo_jo Some major international players who would be interested in a cheap entry (or increase in market share) in the UK market: Cassidy Turley Holliday Fenoglio Fowler Studley, Inc. CB Richard Ellis (World No.1) Jones Lang LaSalle (World Top 3/4) Newmark Knight Frank Grubb & Ellis CresaPartners Cushman & Wakefield (C&W) (World Top 3/4) Eastdil Secured There are probably hundreds who could afford Colliers UK, at this stupid price. There does not appear to be a problem with debt (nearly all longer-term) and banks remain 'supportive'. A lot of small local property agents/surveyors could even afford it. Any bidder who got around 35% or more of Shareholder support could be successful, as this figure is more than the FS holding. The FS bid, if succesful (god forbid) would crystallise shareholder value. There would be NO further benefit whatsoever to shareholders. They could not say 'it would be in shareholders future interests' for example. It would be game over, so shareholders must ONLY consider the single best offer. Even an all-share offer, by a decent company, which valued the business at around £5m/£6m would be perfectly acceptable. We just get the equivalent of 3.5p/4p per share in the acquiring companies shares. It may even be preferable, as shareholders could still then benefit from an improvement in the value of those shares in line with an improvement in the property sector. Long term investors' losses could eventually be recovered. It has the major attraction for an acquirer of not involving much, if any, cash. It is not rocket science creating a business plan which would erase operating losses. I could write one myself in half a day. Accordingly, any credible offer would surely attract > 35% of the shareholder vote, and put FS on the spot. They would have to match/beat the offer or face a good size paper loss and an embarrassing loss of face. This is a steal at anything below £5m, so don't even consider an offer below 4p/share. The accounts imply it would fetch more if it was completely liquidated. I would be very surprised if Horrell and Ritblat had not spoken to several other 'interested parties' already. Some of course will keep their hands well hidden until the FS bid is actually confirmed. I'll eat my hat if Horrell hasn't already talked to old friends at Jones Lang LaSalle. IMPO/DYOR. |
Posted at 27/1/2012 14:36 by joeblogg2 The bid is very opportunistic and a slap in the face of shareholders and I hope Ritblat quickly rejects it and other investors support the company!!! |
Posted at 26/1/2012 13:28 by rsouler Yes, this escapade has destroyed the long-revered Ritblat name. He should hang his head in shame. Unless he puts his foot down now, on behalf of investors, in the interests of fair play, it could become a horrible end to an illustrious career. imo. |
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