Forum Archive Index - April 2000

["laura bishop" <lool@optusnet.com.au>]

Congradulations,I sat in front of my computer on tuesday contemplating  a
letter not unlike your own. The businesses you have named make up a "not
unconsiderable"chunk of the market  capitalisation of our share market.As
far as both Fernz and Lion Nathan are concerned,the bulk of their assets and
sales are now offshore and perhaps the withdrawal of their primary
registers from NZ is justified.It appears that success is sometimes only
appreciated in hindsight and definately not on home soil.As a holder of
both Carter Holt Harvey & Fletcher forests & energy(sorry,longterm)it
irritates me to hear people itching to flog these assets off for the sake of
a quick twenty or thirty cents a share profit,ironically when their share
prices are at such all time lows.Unfortunately,my views appear politically
uncorrect when compared to some recent newspaper & media articules.Does our
economy really rely on the likes of IT capital&Advantage corp.etc" the
knowledge based economy"to progress?Do you remember the government proudly
pushing NZ's banking and finance industry in the late eighties?Only to see
it collapse like the Kiwi top order batting.It would seem that NZ is just
too small to compete in some industries effectively and
competitively.Another irony considering the strength of the
banking&investment industry overseas.Any ideas on what we are good at?Whats
going to keep our stock market ticking along over the next few years and
whats going to keep successful business and ideas here.I really fear a slip
into a Jim anderton led "soviet style 50's era"and I detest long bread
cues.Please enlighten me.


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