I heard the private equity firm that bought dicksmith from woolies payed 90 mill for it. They then floated it on the stock exchange and raised 500 mill from gullible mums and dad investor along with all of the so called astute super funds LOL

Honestly who would invest in a business like this ? What possible value do they add ? They are just glorified importers of chinese made junk.

Sir lastnail wrote on Jan 5^th, 2016 at 8:57pm:



Hi sir Nail,

I think the investors want their money back:

Just for fun I did a bit of research this afternoon.

Not detailed, takes too long, but enough to make me think that at the time of a receiver being appointed a number of institutional funds still had significant holdings, including funds that were likely to be holding partially for super funds of varying size.
Certainly there were no substantial transactions between 10/12/15 and the receiver being appointed on 4/1/16 which would have been required to be disclosed, leading to a reasonable conclusion that significant holdings in DSH remained intact when the axe fell.

I won't name the institutions but anyone interested can go to the ASX website, check the announcements for 2015 and look at the ones concerning substantial shareholder movements.

In relation to the gift card situation, it has to remembered that the hands of the Administrator are tied by the insolvency laws, which require the holders of gift cards to be treated as unsecured creditors, ie. at the end of the line for any recovery.

But some other stores, incl Coles, are offering to exchange them for other cards if they were bought in their stores.

Bobby. wrote on Jan 5^th, 2016 at 6:06pm:


And the talk of business and growth is, that one cannot expect constant growth all the time, it levels out, and then it is to be maintained, not go silly and overspend as if there is no tomorrow.

Since the main person that started and owned the business (Dick Smith) was managing it, he would be caring for it and being savvy and sensible with spending, and to put back into the business and workers, but sell it to wanna be high corporate cowboys, and they pay each other out more than they should, and the company goes under.

So the bottom line is, when will they learn, that there is no such thing as constant growth forever.....level it out and maintain, especially when there is a lot of competition, pull the purse strings if one has to in order to survive.....isn't that what Harvey Norman do? After all, they still own their own and run their own business with sensibility.

I think of other businesses that have closed down in recent years such a Retravision, after being in business for 40 years, one would think they would have learnt something from the ages of graphs, growth, profit, loss and competition to counter act it, even have some money aside for a rainy day, to be able to keep the doors open rather than go into receivership etc.

Sir lastnail wrote on Jan 8^th, 2016 at 10:16am:


Harvey Norman is not in any financial trouble is it? Or the Good Guys?
They have a huge store, and every time I stop in there, there are heaps of people in there, and yes, I even have to wait in line when I have to pay for something at the checkout.

Okay, call me old fashioned then.....There are BBQ's, furniture, electrical applicance, computers, and other bargain bin items I like to physically look at before I buy.
Beds are something you can't go past than go in and try before you buy for instance.
I need a new fridge, and I went in to look at the way it opens, and the space inside, before I decide.
These are factors that cannot determine what I choose online.

Yes, I am a big online shopper, but not for big items.

This still needs to be either delivered for x amount either from the store, or from wherever it needs to be transported.

Recently, we had a fire which gutted out our entire BBQ area, and we had to look at BBQ's to replace it, and lucky we measured the inside where it cooks, as there are so many different BBQ's....how can I determine what to buy online without really looking at it and measuring it?

As for beds, I think you will find people still like to do the old fashioned "laying on the bed" to see how soft or firm the mattress is, even trying out pillows.

And buying TV's.....I either go into The Good Guys, JB Hifi, or Harvey Normal, to get a physical idea what TV I like.

Talking about business going under, remember Ansett? Bought out by NZ airline company, stripped of it's assets, and shut down, heaps of people lost their jobs.

So it's nothing to do with online sales, even Dick Smith had online sales too, partnered with Ebay with specials. So the online shopping thing didn't save Dick Smith from going under.
Business savvy isn't just about online shopping.

Sir lastnail wrote on Jan 8^th, 2016 at 11:07am:


I do agree re: other people's feedbacks are something I savour.

I too have bought my desktop all in one computer from Aldi's which was cheaper than Hewlett Packard (HP) by hundred$.
The only reason I don't mind buying from Aldi in that way, is because they do have a money back guarantee if you don't like the product for any reason, no questions asked.
That helps.

I ran out of space... had to do a new reply.

The other way of shopping bricks and mortar is buying cars, caravans, etc.

Now when you think about shopping, you know, us women love to shop, try on shoes, clothes.....it's just the way it is.
Impulse buying at it's best!

Movie theatres are incorporated in with the big shopping centres.

Recently, Ringwood Eastland has expanded hugely, very opulant, and more shops still to open.

To be perfectly honest, I can't see how these shops make a profit, the overhead, rent etc must be enormous on a weekly basis.

But they are still there, many of these shops, and I mean shops like Victoria's Secret, Pandora, Myers, handbag and suitcase shops like Victoria Station, Katies, a host of jewellry stores, book stores, camping stores and so on.

They seem to be around forever, and opening up in new areas of the expanded shopping centres as well.

I have a feeling, the old fashioned street shopping is going to be no longer as the herds move in the newer direction where shopping centres, have everything you want, food courts, movies, restaurants shops of all types.