Australian Politics Forum - Receiver into Dick Smith

bogarde73 Gold Member Offline Anti-Global & Contra Mundum Posts: 18443 Gender:	Receiver into Dick Smith Jan 5^th, 2016 at 6:52am Might be some more bargains? Woolworths got out in time, the public floaters made a motza and now there are some big funds, incl maybe your super, and a lot of mums & dads with worthless shares. But Gerry Harvey & JB HiFi are laughing. I don't think the real Dick Smith will be laughing though. He must be sad about it all.
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cods

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Re: Receiver into Dick Smith
Reply #1 - Jan 5^th, 2016 at 7:00am

bogarde73 wrote on Jan 5^th, 2016 at 6:52am:

I don't think the real Dick Smith will be laughing though. He must be sad about it all.

oh I dont know hes made his motza as well....

my thoughts are with the staff it shakes the foundations of their world doesnt it??....it is sad very sad to see aussie business go under..... and when you see the likes of ALDI and IKEA..[foreign owned].who seem to take a bite out of everything....all they need is to get permission to sell lottery tickets and they have the works.. Sad

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red baron Gold Member Offline Australian Politics Posts: 10204 Blue Mountains Gender:	Re: Receiver into Dick Smith Reply #2 - Jan 5^th, 2016 at 7:36am Dick Smith said on Chl 7 this morning that he sold Dick Smith Electronics for 30 million dollars. Later it was floated for 500 million and Smith said that was when it got into trouble. There are 300 stores involved with hundreds of staff.
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Saul Goodman

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Re: Receiver into Dick Smith
Reply #3 - Jan 5^th, 2016 at 8:22am

red baron wrote on Jan 5^th, 2016 at 7:36am:

Dick Smith said on Chl 7 this morning that he sold Dick Smith Electronics for 30 million dollars. Later it was floated for 500 million and Smith said that was when it got into trouble. There are 300 stores involved with hundreds of staff.

Would be interesting to know where they have gone wrong, the model has obviously changed from the old days, they seem to be more like a JB HIFI store these days, too much competition in selling TV's Laptops etc.

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"It's all good man!"

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innocentbystander. Gold Member Offline Australian Politics Posts: 4723 Gender:	Re: Receiver into Dick Smith Reply #4 - Jan 5^th, 2016 at 8:43am The whole thing was probably just a giant scam to rob shareholders.
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bogarde73

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Re: Receiver into Dick Smith
Reply #5 - Jan 5^th, 2016 at 9:04am

innocentbystander. wrote on Jan 5^th, 2016 at 8:43am:

The whole thing was probably just a giant scam to rob shareholders.

You might be close to the mark there. A pig in a poke sold to the market, including I suspect some big funds.
Deutsche Bank had 5% up till a day or two ago and I don't think they would have been able to unload that much stock, and they wouldn't be the only ones.

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Kat

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Re: Receiver into Dick Smith
Reply #6 - Jan 5^th, 2016 at 9:21am

Saul Goodman wrote on Jan 5^th, 2016 at 8:22am:

red baron wrote on Jan 5^th, 2016 at 7:36am:

Dick Smith said on Chl 7 this morning that he sold Dick Smith Electronics for 30 million dollars. Later it was floated for 500 million and Smith said that was when it got into trouble. There are 300 stores involved with hundreds of staff.

Would be interesting to know where they have gone wrong, the model has obviously changed from the old days, they seem to be more like a JB HIFI store these days, too much competition in selling TV's Laptops etc.

The old DS stores sold all kinds of electronic stuff, including individual components for repairmen and hobbyists.

Now they just shift product, and not a wide selection of that.

I went to mine to buy a new internal BD-ROM drive for the super-lappy - no, they didn't carry them.

Happy to sel me a bulky and expensive external one, though... I politely declined. Sad

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Sir lastnail

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Re: Receiver into Dick Smith
Reply #7 - Jan 5^th, 2016 at 10:21am

bogarde73 wrote on Jan 5^th, 2016 at 6:52am:

Might be some more bargains?

Woolworths got out in time, the public floaters made a motza and now there are some big funds, incl maybe your super, and a lot of mums & dads with worthless shares.

But Gerry Harvey & JB HiFi are laughing.

I don't think the real Dick Smith will be laughing though. He must be sad about it all.

The private equity fund who offloaded this onto the public are laughing all of the way to the bank. How many super funds bought into this garbage company which was just a front for chinese made junk with huge markups !!

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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

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Sir lastnail

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Re: Receiver into Dick Smith
Reply #8 - Jan 5^th, 2016 at 10:23am

Kat wrote on Jan 5^th, 2016 at 9:21am:

Saul Goodman wrote on Jan 5^th, 2016 at 8:22am:

red baron wrote on Jan 5^th, 2016 at 7:36am:

Dick Smith said on Chl 7 this morning that he sold Dick Smith Electronics for 30 million dollars. Later it was floated for 500 million and Smith said that was when it got into trouble. There are 300 stores involved with hundreds of staff.

Would be interesting to know where they have gone wrong, the model has obviously changed from the old days, they seem to be more like a JB HIFI store these days, too much competition in selling TV's Laptops etc.

The old DS stores sold all kinds of electronic stuff, including individual components for repairmen and hobbyists.

Now they just shift product, and not a wide selection of that.

I went to mine to buy a new internal BD-ROM drive for the super-lappy - no, they didn't carry them.

Happy to sel me a bulky and expensive external one, though... I politely declined. Sad

What about a HDMI cable for 20 bucks !! I could buy a better quality one from Aldis for $3.99 !!!

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In August 2021, Newcastle Coroner Karen Dilks recorded that Lisa Shaw had died “due to complications of an AstraZeneca COVID vaccination”.

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Grappler Deep State Feller

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Re: Receiver into Dick Smith
Reply #9 - Jan 5^th, 2016 at 10:49am

Sir lastnail wrote on Jan 5^th, 2016 at 10:21am:

bogarde73 wrote on Jan 5^th, 2016 at 6:52am:

Might be some more bargains?

Woolworths got out in time, the public floaters made a motza and now there are some big funds, incl maybe your super, and a lot of mums & dads with worthless shares.

But Gerry Harvey & JB HiFi are laughing.

I don't think the real Dick Smith will be laughing though. He must be sad about it all.

The private equity fund who offloaded this onto the public are laughing all of the way to the bank. How many super funds bought into this garbage company which was just a front for chinese made junk with huge markups !!

So the 'open market and driven by market forces and investment' style of superannuation doesn't work? We need a National Super Scheme properly controlled and guaranteed?

Thank Heavens our pollies and past pollies have theirs stashed in the Bahamas, along with the public servants.

So much for 'equal treatment' of all...... where's ahovking to tell us capitalism is the only way to go (unless you are a pollie or PS).....

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“Facts are stubborn things; and whatever may be our wishes, our inclinations, or the dictates of our passion, they cannot alter the state of facts and evidence.”
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greggerypeccary Gold Member Offline Australian Politics Posts: 139235 Gender:	Re: Receiver into Dick Smith Reply #10 - Jan 5^th, 2016 at 11:03am Saul Goodman wrote on Jan 5^th, 2016 at 8:22am: Would be interesting to know where they have gone wrong ... Limited choice, and high prices.
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President Elect, The Mechanic

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Re: Receiver into Dick Smith
Reply #11 - Jan 5^th, 2016 at 11:33am

greggerypeccary wrote on Jan 5^th, 2016 at 11:03am:

Saul Goodman wrote on Jan 5^th, 2016 at 8:22am:

Would be interesting to know where they have gone wrong ...

Limited choice, and high prices.

unless I have misread their P & L sheets... they made over 37 Million Dollars in the 14/15 financial year

so whats the big deal?

and as far as I know.. the Receivers are not 'INTO" Dick Smiths..

they have suspended trading themselves while they do a bit of accounting and adjusting..

so we will see...

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Q

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Every Dog Has Its Day...
Dark to Light.
Sheep no more.

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Sun Tzu

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Re: Receiver into Dick Smith
Reply #12 - Jan 5^th, 2016 at 11:35am

President Elect, The Mechanic wrote on Jan 5^th, 2016 at 11:33am:

greggerypeccary wrote on Jan 5^th, 2016 at 11:03am:

Saul Goodman wrote on Jan 5^th, 2016 at 8:22am:

Would be interesting to know where they have gone wrong ...

Limited choice, and high prices.

unless I have misread their P & L sheets... they made over 37 Million Dollars in the 14/15 financial year

so whats the big deal?

and as far as I know.. the Receivers are not 'INTO" Dick Smiths..

they have suspended trading themselves while they do a bit of accounting and adjusting..

so we will see...

Dick Smith is in voluntary administration which means they can't pay their debt.

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Make my day

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greggerypeccary

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Re: Receiver into Dick Smith
Reply #13 - Jan 5^th, 2016 at 11:39am

Sun Tzu wrote on Jan 5^th, 2016 at 11:35am:

President Elect, The Mechanic wrote on Jan 5^th, 2016 at 11:33am:

greggerypeccary wrote on Jan 5^th, 2016 at 11:03am:

Saul Goodman wrote on Jan 5^th, 2016 at 8:22am:

Would be interesting to know where they have gone wrong ...

Limited choice, and high prices.

unless I have misread their P & L sheets... they made over 37 Million Dollars in the 14/15 financial year

so whats the big deal?

and as far as I know.. the Receivers are not 'INTO" Dick Smiths..

they have suspended trading themselves while they do a bit of accounting and adjusting..

so we will see...

Dick Smith is in voluntary administration which means they can't pay their debt.

"I wouldn't be surprised if the company is not able to resume trading on Wednesday and instead seeks an extension of time to continue trying to re-finance its debt".

http://www.smh.com.au/business/retail/this-could-be-the-end-of-the-road-for-dick...

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greggerypeccary

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Re: Receiver into Dick Smith
Reply #14 - Jan 5^th, 2016 at 11:41am

President Elect, The Mechanic wrote on Jan 5^th, 2016 at 11:33am:

greggerypeccary wrote on Jan 5^th, 2016 at 11:03am:

Saul Goodman wrote on Jan 5^th, 2016 at 8:22am:

Would be interesting to know where they have gone wrong ...

Limited choice, and high prices.

unless I have misread their P & L sheets... they made over 37 Million Dollars in the 14/15 financial year

so whats the big deal?

and as far as I know.. the Receivers are not 'INTO" Dick Smiths..

they have suspended trading themselves while they do a bit of accounting and adjusting..

so we will see...

"Dick Smith has gone into voluntary administration, with receivers appointed to try to claw back debt owed to the company's creditors."

http://www.smh.com.au/business/retail/dick-smith-goes-into-voluntary-administrat...

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