Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.
View this topic in a long page with up to 500 replies per page Create new topic
1 | 2 | 3 
12443 posts

Uber Geek
+1 received by user: 5840

Trusted

  Reply # 1955601 12-Feb-2018 11:04
Send private message

Geektastic:

 

I see Fletchers are treading in the brown stuff a bit financially judging from this morning's news.

 

I wonder how the "lets build heaps of affordable homes" plan will do if Fletchers sinks...

 

 

 

 

Fletchers will not sink, if it came close to that there would be a rescue package and rightly so.





Mike
Retired IT Manager. 
The views stated in my posts are my personal views and not that of any other organisation.

 

 It's our only home, lets clean it up then...

 

Take My Advice, Pull Down Your Pants And Slide On The Ice!

 

 


11283 posts

Uber Geek
+1 received by user: 3596

Trusted
Subscriber

  Reply # 1955644 12-Feb-2018 12:03
One person supports this post
Send private message

MikeB4:

 

Geektastic:

 

I see Fletchers are treading in the brown stuff a bit financially judging from this morning's news.

 

I wonder how the "lets build heaps of affordable homes" plan will do if Fletchers sinks...

 

 

 

 

Fletchers will not sink, if it came close to that there would be a rescue package and rightly so.

 

 


Why rightly so? They are a private business, not a quango. If they fail, it's because they were inept so I can't really see why taxpayers should be footing that bill. To be honest, it would probably do some good, since Fletchers appear to control the price and supply of quite a lot of popular building products in NZ. Might be an opportunity for some disruption rather than BAU.






2713 posts

Uber Geek
+1 received by user: 1006

Subscriber

  Reply # 1955777 12-Feb-2018 14:52
One person supports this post
Send private message

MikeB4:

Geektastic:


I see Fletchers are treading in the brown stuff a bit financially judging from this morning's news.


I wonder how the "lets build heaps of affordable homes" plan will do if Fletchers sinks...



 


Fletchers will not sink, if it came close to that there would be a rescue package and rightly so.



They definitely should not be given any kind of bailout if they go under. There are plenty of large overseas construction companies that could buyout the assets, re employ the workers, and keep things going. There is already way too much corporate welfare in NZ as it is.

It is entirely Fletchers fault that they are in the situation that they are in. Since they control the whole supply chain, they shouldn't have any problems making a profit.





1169 posts

Uber Geek
+1 received by user: 872

Subscriber

  Reply # 1956035 12-Feb-2018 21:42
One person supports this post
Send private message

MikeB4:

 

Fletchers will not sink, if it came close to that there would be a rescue package and rightly so.

 

 

You have a tendency to assert incredibly controversial positions with nothing more than a one-liner and not a smidgeon of evidence. What's so right about this?

 

 

 

 


12443 posts

Uber Geek
+1 received by user: 5840

Trusted

  Reply # 1956050 12-Feb-2018 22:27
Send private message

Geektastic:

MikeB4:


Geektastic:


I see Fletchers are treading in the brown stuff a bit financially judging from this morning's news.


I wonder how the "lets build heaps of affordable homes" plan will do if Fletchers sinks...



 


Fletchers will not sink, if it came close to that there would be a rescue package and rightly so.




Why rightly so? They are a private business, not a quango. If they fail, it's because they were inept so I can't really see why taxpayers should be footing that bill. To be honest, it would probably do some good, since Fletchers appear to control the price and supply of quite a lot of popular building products in NZ. Might be an opportunity for some disruption rather than BAU.



They are a very large employer directly and larger indirectly. There are considerable government and private contracts with Fletchers. If they were to collapse the flow on into the economy would be significant. There would be considerable risk of other company collapses as a result that can cause a domino affect.The risk to the NZ economy would be too great for the Government to ignore and a bail out would be logical.
A goal of bail could be to stabilize the company until a recovery can take place or a buyout negotiated.




Mike
Retired IT Manager. 
The views stated in my posts are my personal views and not that of any other organisation.

 

 It's our only home, lets clean it up then...

 

Take My Advice, Pull Down Your Pants And Slide On The Ice!

 

 


325 posts

Ultimate Geek
+1 received by user: 138


  Reply # 1956100 13-Feb-2018 06:48
Send private message

MikeB4: They are a very large employer directly and larger indirectly. There are considerable government and private contracts with Fletchers. If they were to collapse the flow on into the economy would be significant. There would be considerable risk of other company collapses as a result that can cause a domino affect.The risk to the NZ economy would be too great for the Government to ignore and a bail out would be logical.
A goal of bail could be to stabilize the company until a recovery can take place or a buyout negotiated.

 

They are also one of few organisations that have expertise at building large-scale projects, which is the approach we need to deliver massive amounts of apartments and residential blocks at once. I'd imagine there would be plenty of work for them in the event they were pseudo-nationalised as part of a bailout. Perhaps it's something the Superfund could look into, although it would need to perform. 


2713 posts

Uber Geek
+1 received by user: 1006

Subscriber

  Reply # 1956698 14-Feb-2018 01:56
One person supports this post
Send private message

Actually, because Fletchers are vertically integrated. Any domino effect would be mostly limited to other Fletchers companies.

Also how big dies a construction company need to be to attain the magical "too big to fail" status? Should the government have bailed out Mainzeal construction when it collapsed? What about the numerous small construction companies that mostly just build a few homes here and there.

What about other companies that are also related to construction? Such as Lyon Electrical? Should they have gotten a bailout?





12443 posts

Uber Geek
+1 received by user: 5840

Trusted

  Reply # 1956765 14-Feb-2018 09:22
Send private message

Aredwood: Actually, because Fletchers are vertically integrated. Any domino effect would be mostly limited to other Fletchers companies.

Also how big dies a construction company need to be to attain the magical "too big to fail" status? Should the government have bailed out Mainzeal construction when it collapsed? What about the numerous small construction companies that mostly just build a few homes here and there.

What about other companies that are also related to construction? Such as Lyon Electrical? Should they have gotten a bailout?


Fletchers employ tens of thousands directly. A collapse will impact NZs economy and possibly plunge the economyinto recession. Unemployment would jump considerably.




Mike
Retired IT Manager. 
The views stated in my posts are my personal views and not that of any other organisation.

 

 It's our only home, lets clean it up then...

 

Take My Advice, Pull Down Your Pants And Slide On The Ice!

 

 


11283 posts

Uber Geek
+1 received by user: 3596

Trusted
Subscriber

  Reply # 1956775 14-Feb-2018 09:36
Send private message

GV27:

MikeB4: They are a very large employer directly and larger indirectly. There are considerable government and private contracts with Fletchers. If they were to collapse the flow on into the economy would be significant. There would be considerable risk of other company collapses as a result that can cause a domino affect.The risk to the NZ economy would be too great for the Government to ignore and a bail out would be logical.
A goal of bail could be to stabilize the company until a recovery can take place or a buyout negotiated.


They are also one of few organisations that have expertise at building large-scale projects, which is the approach we need to deliver massive amounts of apartments and residential blocks at once. I'd imagine there would be plenty of work for them in the event they were pseudo-nationalised as part of a bailout. Perhaps it's something the Superfund could look into, although it would need to perform. 



The idea of even semi-nationalising them would be a recipe for even less vfm for the customer.

Look at Air NZ. Amongst the priciest international flights. However since the government own about half, they have little incentive to risk what amounts to a stealth tax by taking any action to encourage more competitive prices.





bmt

414 posts

Ultimate Geek
+1 received by user: 121


  Reply # 1958334 14-Feb-2018 21:24
Send private message

Have you guys even properly read what's happening with Fletcher Building? They aren't going to fail or collapse - only one section of the company is losing money (Business and Interiors), the others are profitable and the company as a whole is still profitable. 

 

Please explain why or how they would collapse / require a government bailout.


11283 posts

Uber Geek
+1 received by user: 3596

Trusted
Subscriber

  Reply # 1958340 14-Feb-2018 21:45
Send private message

bmt:

Have you guys even properly read what's happening with Fletcher Building? They aren't going to fail or collapse - only one section of the company is losing money (Business and Interiors), the others are profitable and the company as a whole is still profitable. 


Please explain why or how they would collapse / require a government bailout.



You'll have observed that the discussion began before that level of detail was made public.....





1 | 2 | 3 
View this topic in a long page with up to 500 replies per page Create new topic

Twitter »

Follow us to receive Twitter updates when new discussions are posted in our forums:



Follow us to receive Twitter updates when news items and blogs are posted in our frontpage:



Follow us to receive Twitter updates when tech item prices are listed in our price comparison site:





News »

Cove sells NZ's first insurance policy via chatbot
Posted 25-Jun-2018 10:04


N4L helping TAKA Trust bridge the digital divide for Lower Hutt students
Posted 18-Jun-2018 13:08


Winners Announced for 2018 CIO Awards
Posted 18-Jun-2018 13:03


Logitech Rally sets new standard for USB-connected video conference cameras
Posted 18-Jun-2018 09:27


Russell Stanners steps down as Vodafone NZ CEO
Posted 12-Jun-2018 09:13


Intergen recognised as 2018 Microsoft Country Partner of the Year for New Zealand
Posted 12-Jun-2018 08:00


Finalists Announced For Microsoft NZ Partner Awards
Posted 6-Jun-2018 15:12


Vocus Group and Vodafone announce joint venture to accelerate fibre innovation
Posted 5-Jun-2018 10:52


Kogan.com to launch Kogan Mobile in New Zealand
Posted 4-Jun-2018 14:34


Enable doubles fibre broadband speeds for its most popular wholesale service in Christchurch
Posted 2-Jun-2018 20:07


All or Nothing: New Zealand All Blacks arrives on Amazon Prime Video
Posted 2-Jun-2018 16:21


Innovation Grant, High Tech Awards and new USA office for Kiwi tech company SwipedOn
Posted 1-Jun-2018 20:54


Commerce Commission warns Apple for misleading consumers about their rights
Posted 30-May-2018 13:15


IBM leads Call for Code to use cloud, data, AI, blockchain for natural disaster relief
Posted 25-May-2018 14:12


New FUJIFILM X-T100 aims to do better job than smartphones
Posted 24-May-2018 20:17



Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.



Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.

Alternatively, you can receive a daily email with Geekzone updates.