Dtz Share Discussion Threads

[blackdown2] 19/11/2008 08:39

Since DTZ was first floated in 1987 (or whenever it was).

Things will be different this time. This recession is going to be much worse than the 1990s for commercial property.

[johnrxx99] 19/11/2008 08:24

Er, there was one through 93 to 07. How long have you been watching?

[blackdown2] 19/11/2008 08:22

DTZ's days as an independent company are probably numbered. Before this recession is through, there will be a massive shakeout amongst the agents.

[johnrxx99] 19/11/2008 05:50

What big payoff? When you've seen you're shareholding as a director reduce in value from say £5m to under £1m, hardly the time for big celebration.

Wait for the bounce.

[hvs] 18/11/2008 16:02

lol !!!!

Thats happening all over .

Thats what NO LABOUR has taught people.

MILK MILK MILK the shareholders and then say tarra with a BIG PAYOFF.

[blackdown2] 18/11/2008 15:57

DTZ now capitalised at around £24 million, having paid £35 million for Donaldsons last year. Massive destruction of shareholder value.

[dickbush] 13/11/2008 22:33

CB Richard Ellis, which closed at a four-year low of $3.77 yesterday and sold 50 million shares at that price after the close, rose $1.62 to $5.39. It may use the proceeds to repay debt, make acquisitions, add to working capital or for capital expenditures and investments, it said in a regulatory filing.

[blackdown2] 13/11/2008 17:10

At this rate, DTZ is going to be worthless shortly.

[blackdown2] 12/11/2008 17:21

DTZ is probably going to have to do some drastic pruning. With a new CEO, he can take this sort of action and blame the previous management (and the external environment).

[monty333] 27/10/2008 09:35

martin re 347

I don't read Estate Gaz, my comments were based on what I know to be fact, so I have nothing to fuel as I am not a shareholder, merely a concerned bystander. Whilst I am fully aware of the lease termination dates of Swallow and Warwick in London, it would be imprudent to post that info here. At the end of the day, I know nothing about rumours, I was merely confirming that as far as I know any office closures were part of the original integration process after the acquisition of Donaldsons and that inevitably over the coming months and years, city synergies would see the closure of the original DTZ & Donaldsons originally seperate offices into larger consolidated offices which will reduce cost and streamline the business on a national basis. Of course I have no idea what contingency plans are in place to ward off a recession and dipping revenues.

[johnrxx99] 27/10/2008 09:09

But why does it need to raise £30-40m? Think they got renew loans with fund raising confused, which would not be suprising with a daily rag.

[johnrxx99] 27/10/2008 09:07

Whoops - just found in Manchester Evening News:-

RUPERT Barron, one of Manchester's highest flying property consultants, has been made redundant by global surveying firm DTZ as the property crunch begins to bite.

Mr Barron, who became a director at DTZ following the firm's merger with Donaldsons in July 2007, is the highest- profile casuality of a wave of job cuts hitting the Manchester property business.

DTZ is understood to be cutting 10 posts in its northern division. Other firms are also making a series of redundancies.

A statement from DTZ Manchester said: "We are targeting a number of roles for redundancy across DTZ and are in consultation to determine the extent to which people in these posts can be redeployed to growth areas, minimising the need for redundancies. We continue to recruit to growth areas such as corporate recovery and investment management."

The departure of one of the four directors in the DTZ Manchester agency team comes as little surprise. A source said: "It was fairly obvious from the merger of Donaldsons into DTZ in 2007 that there was a large team and that as the market worsened costs were going up but income coming down.

"They didn't need so many people in the team and it was a case of the last one in being the first one out."

Mr Barron said: "I'm looking at options with various organisations and I'm hoping my experience is what is needed in today's property market, when so many younger professionals have never seen a recession before."

Collapsed

Mr Barron was head of property consultancy Knight Frank in Manchester before joining Chesterton. He left Chesterton shortly before it collapsed in 2002 and joined rivals Donaldsons as agency director.

Friends of Mr Barron say he is in good spirits. One said: "He is a broker, and now he has the ultimate challenge in a difficult market of brokering himself. It's a challenge, but in a strange way I suspect he will find it exhilarating."

The latest round of redundancies comes as DTZ approached bankers JP Morgan Cazenove to advise on raising between £30m and £40m from the stock market.

Last month DTZ disclosed that up to 100 employees would be made redundant as part of a £15m round of cuts. Redundancy notices were sent to a further 50 staff earlier in the summer.

The company has denied reports that it could close up to six of its regional offices.

[martinadilsmith] 27/10/2008 08:50

@johnrxx99 - completely agree, especially with regard to the shorters. Completely unfounded rubbish is unnecessarily damaging.

[blackdown2] 27/10/2008 08:06

Now capitalised at £26 million, roughly 10% of the value of Savills. Market seems to be saying something serious is going on - perhaps company to raise funds in a difficult market and can't find a lender.

Wouldn't be surprised to see 25/30p.

[monty333] 24/10/2008 11:32

Offices are closing ghc, but the closures continue to form part of the integration process of Donaldsons & DTZ were cities still house two or more separate offices and where lease agreements will take a while to be consolidated as and when break clauses and notice periods permit to fulfill the longer term plans of one larger office in each city centre location, like Leeds, Brum, Manchester etc. Obviously budgeted head counts will need to be considered during these difficult times, but it is nothing out of the ordinary in my view. In London, Old Broad street is continuing to be filled, Curzon St will significantly reduce in occupancy as I understand it, Swallow Place will close soon I would think, Throgmorton St has already closed and Warwick Street remains full for the time being. All as far as know. Of course should it be deemed necessary to prune fee earning staff any further then there may be further office consolidations, but I'm sure a company of DTZ's calibre will have their options available and will act accordingly should they need to.

Whilst I don't know specifics, I would be staggered if cuts weren't being made across the board in the course of standard practices to keep expenditure down to a minimum, particularly during these hard times, so I guess unless I hear to the contrary, I still assume DTZ are working hard to batten down the hatches and do what is necessary to weather the storm.

I must add, I am not an investor here, I never have been, although always felt it was a screaming short when I first became aware of the acquisition in May 2007 when the share price was about £6. Merely looking in for old times sake in the hope that DTZ handle these difficult times successfully and the people that I know and worked with have a future of some sort.

[ghc] 24/10/2008 10:09

I would get people into trouble so cant do that, however I will ask about the content at the weekend and post Monday. Best I can do!

[martinadilsmith] 24/10/2008 10:04

GHC - ah go on, we'd be grateful to see that email. Can't hurt.

[ghc] 24/10/2008 10:02

Apparently certain articles in the press regarding closing offices etc, are total fabrication. I quess with staff holding shares it was to reasure them all is well. Dont have details couldnt ask really.

[ghc] 24/10/2008 09:02

All the rumours are untrue here IMHO. In fact I see it as a buying op. bought today. In fact email sent to all staff yesterday telling them just that! I have family who work there. But as always DYOR

[martinadilsmith] 24/10/2008 08:52

@Blackdown - what new shares? There has been no rights issue.