TRADEME SOLD!!!

Current listings & scams on TradeMe - please post cases of fee avoidance or breach of TM rules (contact details) in the "minor transgressions" area - try to stick to the subject and feel free to start a new thread if appropriate.
laurencep
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TRADEME SOLD!!!

Postby laurencep » Sun Mar 05, 2006 8:29 pm

Cheers
Laurence

laurencep
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Postby laurencep » Sun Mar 05, 2006 8:32 pm

700,000,000!!!!! 7 MILLION DOLLARS!!!
HOLY CRAP!!!!!!!
Cheers

Laurence

julia46
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Postby julia46 » Sun Mar 05, 2006 8:37 pm

Hmm maybe they could donate some of that dosh to all the people that have been ripped off by TM's lack of concern. :?

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digidog
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Postby digidog » Sun Mar 05, 2006 8:39 pm

That's an amazing $700 for each member. Or $1,400 for each
real (not disabled) member.
.

julia46
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Postby julia46 » Sun Mar 05, 2006 8:56 pm

Cool, I'll take my share in TM shares. :lol:

chunky
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Postby chunky » Sun Mar 05, 2006 9:08 pm

congrats to sam morgan, smart ideas lead to big payoffs

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blakamin
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Postby blakamin » Sun Mar 05, 2006 10:02 pm

I wonder if Fairfax will listem to ScamBusters :?:

lampy
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Postby lampy » Sun Mar 05, 2006 10:10 pm

I wonder if Fairfax will allow banned Scambusters back IN to TM.

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digidog
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Postby digidog » Sun Mar 05, 2006 10:30 pm

I doubt it. The management team is not going to change for a while.
We can only hope that the new owners take security of their members
more seriously than Sam & Co.
.

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digidog
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Postby digidog » Sun Mar 05, 2006 11:10 pm

.

Captain Obvious
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Postby Captain Obvious » Mon Mar 06, 2006 12:47 am

Don't forget that Sam won't actually get $700 million (since he is a minority shareholder).

Also, the article says that the purchase will be funded through a mixture of debt and equity. So no-one is actually "paying" $700 million - they'll be paying for trademe via an equity swap for Fairfax shares.

checkpal
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Postby checkpal » Mon Mar 06, 2006 1:29 am

laurencep wrote:700,000,000!!!!! 7 MILLION DOLLARS!!!
HOLY CRAP!!!!!!!


Hi Laurence, that is Seven Hundred Million.

Cheers

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digidog
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Postby digidog » Mon Mar 06, 2006 2:25 am

David Kirk (Fairfax) announced that TM's pre-tax earnings from the 2006
financial year were just over $26m. They expect that to hit $46m in the
2007 (current) year.

You'd think they could afford a half decent security department, wouldn't you?
.

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marika3
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Postby marika3 » Mon Mar 06, 2006 2:48 am

digidog wrote:David Kirk (Fairfax) announced that TM's pre-tax earnings from the 2006
financial year were just over $26m. They expect that to hit $46m in the
2007 (current) year.

You'd think they could afford a half decent security department, wouldn't you?


If they will run "a half decent security department", their profits will not hit $26m. Part of this money come from scam auctions (at the expense of kiwi victims).
Last edited by marika3 on Mon Mar 06, 2006 2:49 am, edited 1 time in total.

Captain Obvious
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Postby Captain Obvious » Mon Mar 06, 2006 2:48 am

digidog wrote:David Kirk (Fairfax) announced that TM's pre-tax earnings from the 2006
financial year were just over $26m. They expect that to hit $46m in the
2007 (current) year.

You'd think they could afford a half decent security department, wouldn't you?


Interesting. A quick back-of-the-envelope estimate suggests they closed over $500 million worth of auction sales last year (assuming 5% average gross on each successful auction).


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