Forum Archive Index - May 2004

["Gordon and Jackie Hossack" <hossack@xtra.co.nz>]

Hi Snoopy and others,My thoughts on LPC:

no it is not going ahead like the other ports in terms of share price.Is this  solely a union problem?.I've been in ports up and down the country and in Oz and I don't think that the Lyttelton watersider is too much different from other wharfies. In fact the "bolshiest" wharfies used to be in Auckland. Macdunk uses the easy label "pommy union", but the proportion of poms at Lyttelton is negligible. 

It looks as if management would get credit if all was well, but the staff take the flak when the going gets tough. It doesn't work like that, management get paid to manage and I have confidence that  the new  chief executive  Peter Davie  will succeed where his predecessors failed.

So for the moment its a good dividend share,especially if you can get it  around or below $1.60.