It amazes me, that the people who over the years have held the tiller at AMP, can look at themselves in the mirror.
They usually have significant stakes in the company themselves so it's not in their interest for things to go pear shaped. It's only when they sell their own holdings off first and then you get news like this that the hammer has to fall.Corporate incompetence should be subject to capital punishment.
Too harsh, too draconian you say?
Maybe so but these high flying execs will think long and hard before destroying shareholder value and company reputation.
In another way though, I think the simple fact that it's no longer officially a large cap stock says an awful lot in itself.Given AMP is still a $4 Billion dollar Company, even after all the recent naughtiness, I would say ...
True. However, I am referring to the top end of town.They usually have significant stakes in the company themselves so it's not in their interest for things to go pear shaped. It's only when they sell their own holdings off first and then you get news like this that the hammer has to fall.
True, but, incompetence and corruption are not the same thing.True. However, I am referring to the top end of town.
Aren't most of these holdings are usually very big?
So to them it's only a drop in the ocean. Also, how many actually buy at market price?
Many of these top execs have, what it's called? Oh yeah, very attractive remuneration.
With AMP though, as we all know it's been a very dismal performance since the IPO late last century.
Any one remember how big AMP's war chest was back then?
Billions of $$$ sunk/wasted on bad decisions or worse, corporate greed...
Shame on them for not setting the bar high.
Huh, did I use the word corruption?True, but, incompetence and corruption are not the same thing.
Incompetence and feathering ones nest, isn't the same thing either.True, but, incompetence and corruption are not the same thing.
@barney must be encouraged to see this stealth coiling auction
It has to be a 4 bagger for anyone who bought in 3 years ago, to break even. ?Indeed @Joules MM1 If it were an unloved .012 Spec, that Chart would certainly have my attention as an Accumulate
I only own 286 Shares I think it is in AMP so I still need it to double so I can cash them in, lol
Their Buy-Back certainly seems to be adding a bit of coal to the fire for anyone trading them at the moment
They have a $200 million BB limit with around $80 million still a possibility if I read the number correctly.
The Company obviously sees the recent price as the LOW. Certainly looks low risk at face value given the current situation.
I bought in May. So far, so good, up 6% from entry.It has to be a 4 bagger for anyone who bought in 3 years ago, to break even. ?
I should, I could, I won't, burnt too hard last time.I bought in May. So far, so good, up 6% from entry.
I won't be holding it long term though, it's a trading opportunity and nothing more. So long as it goes up, I'll keep it with a reasonably tight stop set.
well AMP certainly behaved like a BIG bank , i hope WS is impressed with his achievementYeah, AU's big four have a pretty iron grip on things.
I remember when I think it was NAB that wanted to buy out/merge with AXA and wayne swan (it was of course subject to regulatory approval) torpedoed it in an attempt to get AMP to merge with them instead so AU would finally have a fifth big bank.
And, well, we now all know how well that plan went.
Mmm, Price.... discovered.is close to $1 in value..
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