TRADEME SOLD!!!

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TRADEME SOLD!!!

Postby laurencep » Mon Mar 06, 2006 9:29 am

Cheers
Laurence
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Postby laurencep » Mon Mar 06, 2006 9:32 am

700,000,000!!!!! 7 MILLION DOLLARS!!!
HOLY CRAP!!!!!!!
Cheers
Laurence
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Postby julia46 » Mon Mar 06, 2006 9:37 am

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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Postby digidog » Mon Mar 06, 2006 9:39 am

That's an amazing $700 for each member. Or $1,400 for each
real (not disabled) member.
.
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Postby julia46 » Mon Mar 06, 2006 9:56 am

Cool, I'll take my share in TM shares. :lol:
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Postby chunky » Mon Mar 06, 2006 10:08 am

congrats to sam morgan, smart ideas lead to big payoffs
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Postby blakamin » Mon Mar 06, 2006 11:02 am

I wonder if Fairfax will listem to ScamBusters :?:
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Postby lampy » Mon Mar 06, 2006 11:10 am

I wonder if Fairfax will allow banned Scambusters back IN to TM.
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Postby digidog » Mon Mar 06, 2006 11:30 am

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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Postby digidog » Mon Mar 06, 2006 12:10 pm

.
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Postby Captain Obvious » Mon Mar 06, 2006 1:47 pm

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.
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Postby checkpal » Mon Mar 06, 2006 2:29 pm

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


Hi Laurence, that is Seven Hundred Million.

Cheers
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Postby digidog » Mon Mar 06, 2006 3:25 pm

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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Postby marika3 » Mon Mar 06, 2006 3:48 pm

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 3:49 pm, edited 1 time in total.
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Postby Captain Obvious » Mon Mar 06, 2006 3:48 pm

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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