CML - Coles Myer
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Sean K
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Might be right Julia, but becoming more rsky now. If more information doesn't come out, traders will dump it. Could see a pullback this arvo for that reason. Resonable to still believe that it will continue to go up, based on anacdotal history of these sort of events. (ie, according to what I can recall - so it's probably wrong. 
)
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Definietely buy CML......Don't let the yanks and big boys crap on us Ozzies....no way I say.....................c'mon aussie cmon...............
Save some sort of independance.....what's next.......Well the Gov't is already sold out to the yanks and Japs...............and the Japs were at war WITH US, once......Like the Japs said .....we lost the Battle but we will win the war.......the stockmarket tells all..........
Bugger this mate I'm buying gold...............and CML....
BUY A LOT OF CML to protest..........Do we want to have our food prices set by international conglomerates?........
BUY CML and Vote.............."NO" ...........to any take over ...........do you want the poor in this country to be less well off ?.......They will dictate they price of everything.......
THIEVES>>>>THE BUNCH OF THEM!!!!!!!!!
Target is $17...................C"mon it'll be worth $19-15 in 2 ytears...so why sell?
They say there's only two things guaranteed in life .........DEATH AND TAXES.................BUT THERE'S ONE MORE.............FOOD IN THE BELLY'S OF THOSE PAYING TAXES......Take away the small business and you will see your bills go up!!!!!!!!!!!!!!!!!!!!
Please..... for the sake of a NATION Dont't let this happen.........LOSE A LITTLE ON YOUR SHARE PRICE TO GAIN THE RESPECT OF THE WORLD.....WE WON'T BE BULLIED !
P.S. I AM NOT LONG ON CML...THIS IS GENUINE CONCERN FOR THE AUSTRALIAN PUBLIC AND THE REST OF THE WORLD AS WE KNOW IT!
BUY LOTS of CML and "VOTE NO"....to a .....TAKE OVER OF AUSTRALIA BY FOREIGN POWERS..................TRUST ME ....IN TWO YEARS THE SP WILL BE THE SAME BUT THE PRICE OF FOOD WILL BE WAY UP....
OUR VETERENS, PARENTS, LESS WELL OFF ECT...ALL THE OLDER GENERATION WILL BE DICTATED TO BY YANKS AND JAPS!.............AND THEN IN A FEW YEARS TIME IT WILL BE YOUR TURN TO BECOME THE "OLDER GENERATION"....AND GET SCREWED!
SUPPORT THE AVERAGE AUSSIE!
DON'T OFTEN HEAR OF A STOCK BEING OVER BOUGHT THEASE DAYS... BUT THIS IS WORTH IT!
.............PLEASE DON'T LET THIS HAPPEN TO OUR NATION......................
Save some sort of independance.....what's next.......Well the Gov't is already sold out to the yanks and Japs...............and the Japs were at war WITH US, once......Like the Japs said .....we lost the Battle but we will win the war.......the stockmarket tells all..........
Bugger this mate I'm buying gold...............and CML....
BUY A LOT OF CML to protest..........Do we want to have our food prices set by international conglomerates?........
BUY CML and Vote.............."NO" ...........to any take over ...........do you want the poor in this country to be less well off ?.......They will dictate they price of everything.......
THIEVES>>>>THE BUNCH OF THEM!!!!!!!!!
Target is $17...................C"mon it'll be worth $19-15 in 2 ytears...so why sell?
They say there's only two things guaranteed in life .........DEATH AND TAXES.................BUT THERE'S ONE MORE.............FOOD IN THE BELLY'S OF THOSE PAYING TAXES......Take away the small business and you will see your bills go up!!!!!!!!!!!!!!!!!!!!
Please..... for the sake of a NATION Dont't let this happen.........LOSE A LITTLE ON YOUR SHARE PRICE TO GAIN THE RESPECT OF THE WORLD.....WE WON'T BE BULLIED !
P.S. I AM NOT LONG ON CML...THIS IS GENUINE CONCERN FOR THE AUSTRALIAN PUBLIC AND THE REST OF THE WORLD AS WE KNOW IT!
BUY LOTS of CML and "VOTE NO"....to a .....TAKE OVER OF AUSTRALIA BY FOREIGN POWERS..................TRUST ME ....IN TWO YEARS THE SP WILL BE THE SAME BUT THE PRICE OF FOOD WILL BE WAY UP....
OUR VETERENS, PARENTS, LESS WELL OFF ECT...ALL THE OLDER GENERATION WILL BE DICTATED TO BY YANKS AND JAPS!.............AND THEN IN A FEW YEARS TIME IT WILL BE YOUR TURN TO BECOME THE "OLDER GENERATION"....AND GET SCREWED!
SUPPORT THE AVERAGE AUSSIE!
DON'T OFTEN HEAR OF A STOCK BEING OVER BOUGHT THEASE DAYS... BUT THIS IS WORTH IT!
.............PLEASE DON'T LET THIS HAPPEN TO OUR NATION......................
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IF COLES GETS SOLD I AM GOING TO move (not back) to New Zealand.....and grow my own food...'cause you all suck...
If this a sign of things to come then I'm out..................
I'm gonna leave all forums in disgust and head off down south to my Hobby Farm and live off the land ......
I hope all you who don' t support our nation on a NO vote all get shafted & nuked....I'll be going to .....IGA from now on....and buy from independant fuel stations!!!!!!
stuff em "I'd rather pay the extra $1 now, per tank, than have these %@#*&!@ rob me later.
Support Aussies not the markets...buy our companies back!
Trust me ...we are on the verge of a major recession if we don't support ourseves here in OZ..!!!!
If this a sign of things to come then I'm out..................
I'm gonna leave all forums in disgust and head off down south to my Hobby Farm and live off the land ......
I hope all you who don' t support our nation on a NO vote all get shafted & nuked....I'll be going to .....IGA from now on....and buy from independant fuel stations!!!!!!
stuff em "I'd rather pay the extra $1 now, per tank, than have these %@#*&!@ rob me later.
Support Aussies not the markets...buy our companies back!
Trust me ...we are on the verge of a major recession if we don't support ourseves here in OZ..!!!!
pacer, I agree what you said. Personally, I don't want this to go ahead and am happy to continue to hold my CML shares (more than 6 years now). This is a company that employs almost 220000 staff in Australia and New Zealand. I am confident the company will continue to do well in the long term. More importantly, I don't want to see massive job cuts by the private equity fund. Think about the number of families will be affected. Some of the people who bought the shares today might not like hear this. However, I say what my heart thinks is correct. Could we keep this iconic company continues to be owned by the Australians?
Julia
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chansw said:
Whilst I can sympathise with what you're saying, such feelings are in a tiny minority I suspect. Not much room for sentiment in the business world.
Frankly, if someone were to run Coles supermarkets so that I didn't have to be the last in the line of 25 people in the "Quick Service "checkouts when only one of four checkouts is staffed by an operator (25 minutes to get through the last time), I'd welcome them. It's just no wonder that Woolworths is a far more profitable business. They understand the concept of service.
Julia
Julia said:
I run a business right next to a large Coles Supermarket and I observe that Coles staff are arrogant and not customer-conscious. Their management appears lax and compacent and their work practices need smartening-up. They could start by addressing their receiving dock problems, where suppliers are not allowed to drop-off unless "permitted" by dock staff to do so, and getting rid of their hourly coffee and smoko breaks.
Thank goodness I sold my CML and bought WOW years ago.
Regards. YN.
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what will happen to our shares if cml is sold?
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The Courier Mail is reporting New York billionaire Henry Kravis as being one of the people interested in buying out CML. Henry Kravis is famous for buying out big companies and carving them up, selling them off piece by piece.
http://www.news.com.au/couriermail/story/0,23739,20179290-3122,00.html
http://www.news.com.au/couriermail/story/0,23739,20179290-3122,00.html
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but that doesnt answer my question
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I work near a Woolworths store and, while they do seem better than Coles, I'm wondering if they have any staff that don't smoke. Every time I go outside there's always some 20-ish female out there puffing away.Julia said:
Judging by the number outside smoking, and assuming that's not all they do when not actually working, they must get an incredible number of breaks. At least they are reasonably polite and the service isn't usually too bad, although I've had the experience of waiting 10 minutes in the "fast" lane whilst all the other checkouts are closed and staff mill around the service desk.
More to the point, over the past 7 years that I have worked nearby, they have changed ALL the checkout staff several times. I just can't believe that they ALL resigned at the same time so it looks like some sort of funny business going on to avoid entitlements, pay rises etc. I suspect this explains why staff don't seem to make any obvious effort to do more than the minimum - there's simply nothing for them to gain by doing so as they'll have their hours progressively cut back (until they leave) sooner or later anyway.
As for Coles, I just don't get the logic behind this idea of branding all the stores "Coles" rather than keeping K-Mart etc as separate names. It might not upset locals but consider what happens when you go to any city or town that you are not familiar with.
Sooner or later you find yourself near shops and you see a sign that says "Shell" so you immediately think "petrol". You see a sign saying "Coles" so you think "supermaket". You see "Railway Station" so you think "this is where to catch a train". I just can't see the logic of having it so that "Coles" might mean a supermarket, or perhaps a petrol station or perhaps a variety store. Let's hope they don't start running taxis or selling fish and chips otherwise it's going to be incredibly confusing...
I just don't see what they would gain apart from creating general confusion for anyone not familiar with the area. Unless they're planning on saving on the cost of signs, uniforms etc - if it's come down to that then being taken over might not be such a bad thing.
Smurf,
While I have not aid that much attention to what is going on (mainly cuase I could care less) as far as I understand it, every store will not just be rebadged coles. You will still have seperate entities in the same way shell is still a seprate entity, only it is Coles express (Shell) or something a rather. So as I understand it it will be a case of naming kmart Coles discount variety or Coles kmart or something. The sale of myer is an obvious reason for the change from coles myer to simply coles, it also sits with there vision of mainstreaming things. The main algamtion of the businesses does not lie with the changing of the names but more with the sacking of staff. Currently each division is run in it's own entity with buyers for coles and buyers for kmart and so on. Each buyer does soley the same thing, buy bulk amounts of a product from a company, for example coke. Now there will be one buyer for coles as a whole. This also fits with there plans to update the DC chain. Where each company currently has several DC's per business per state they ultamately want to have one per state (well actually a couuple, north and south for example) thus reducing the number of dc's substaintially and minimising the repetion, IE more coke in less tin shed's. Currently each bussiness also recieves it's stock from it's DC and often one truck will serve two or more stores per delivery. That is to say it may drop off stock at one suburb, continue to the next, drop off some stock and then go back to the Dc and repeat the process. Meanwhile another three trucks are on route to the same center to drop off goods to one of the other three or four coles divsions. (kmart, taget , coles, liquirland etc etc). Eventually they plan to have it running so that one truck will serve each suburb so to speak, so instead of three to fours trucks droping stock at two or three suburbs one truck will drop stock at each divsion of coles within the suburb.
Hope that all makes sense, but as I say I don't pay that much attention to what they roll out as it doesn't really make much difference to my everyday life, just another headache to deal with until they fine tune it and get it right.
While I have not aid that much attention to what is going on (mainly cuase I could care less) as far as I understand it, every store will not just be rebadged coles. You will still have seperate entities in the same way shell is still a seprate entity, only it is Coles express (Shell) or something a rather. So as I understand it it will be a case of naming kmart Coles discount variety or Coles kmart or something. The sale of myer is an obvious reason for the change from coles myer to simply coles, it also sits with there vision of mainstreaming things. The main algamtion of the businesses does not lie with the changing of the names but more with the sacking of staff. Currently each division is run in it's own entity with buyers for coles and buyers for kmart and so on. Each buyer does soley the same thing, buy bulk amounts of a product from a company, for example coke. Now there will be one buyer for coles as a whole. This also fits with there plans to update the DC chain. Where each company currently has several DC's per business per state they ultamately want to have one per state (well actually a couuple, north and south for example) thus reducing the number of dc's substaintially and minimising the repetion, IE more coke in less tin shed's. Currently each bussiness also recieves it's stock from it's DC and often one truck will serve two or more stores per delivery. That is to say it may drop off stock at one suburb, continue to the next, drop off some stock and then go back to the Dc and repeat the process. Meanwhile another three trucks are on route to the same center to drop off goods to one of the other three or four coles divsions. (kmart, taget , coles, liquirland etc etc). Eventually they plan to have it running so that one truck will serve each suburb so to speak, so instead of three to fours trucks droping stock at two or three suburbs one truck will drop stock at each divsion of coles within the suburb.
Hope that all makes sense, but as I say I don't pay that much attention to what they roll out as it doesn't really make much difference to my everyday life, just another headache to deal with until they fine tune it and get it right.
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That makes more sense. Hope you're right.
it seems improbable at first but it's likely that private equity players (if they want CML bad enough) willl offer high premiums to secure CML. using leverage, (i read that they use a company's own profits to fund the debt needed to take it over) these players have A LOT of money and confidence in themselves e.g. TPG recently refloated UK retailer Debenhams four years after buying it for what was then considered too expensive. It quadrupled its investment.
cheers,
scsl
cheers,
scsl
Coles Confirms
August 23 2006 - Australasian Investment Review – (AIR)
http://www.aireview.com.au/index.php?act=view&catid=8&id=4329
We probably won’t hear any more from Coles on the ‘offer’ from the buyout group until it reports its 2006 profits next month.
While the board of Coles will now await a briefing and position papers from its advisers, the weights will be on the various buyout groups to detail their interest in the retailer.
We know Coles received an offer that required the company to virtually hand over the keys to the books and the boardroom, without any certainty of a firm, discloseable price.
That sounds absurd in Australia but appears to be commonplace in the US where shareholder rights are quite often asserted after the event through legal action, not during negotiations or a takeover.
The Coles share price will continue a slow easing it started yesterday when it eased 7c to $13.33. That will continue for the next few weeks or so with the occasional buffeting from rumours about offer prices and others being interested in a bid.
Coles is due to report its 2006 profits on September 21, so there’s every chance we won’t hear anything on this bid until then. It seems the logical time to detail further information, unless a firm offer is tabled before then, free of conditions and with a price.
It is clear the ‘offer’ from the buyout group led by KKR of the US, would have prevented the Coles board from trying to start an auction between the groups said to be interested. That would not have been in the best interests of shareholders
Here’s yesterday’s statement from the Coles board and a letter that the company’s 400,000 shareholders will be receiving later this week.
In it shareholders were warned that there might be some parties who would seek ‘to undermine’ Coles’ performance over the next few weeks.
………………
Coles Myer said today it had received on Friday a highly conditional proposal regarding the company’s ownership from a consortium of leveraged buyout funds.
CML Chairman Rick Allert said that the consortium stated it would only proceed with the proposal if it had the support of the Coles Myer Board.
Mr Allert said the Board had met today and appointed Carnegie Wylie & Company, Deutsche Bank and Freehills to advise it in its consideration of the proposal, to which the company would respond in due course.
"The Board will undertake proper consideration of the proposal and will not be pressured by market speculation to take actions which would not be in the best interests of shareholders," Mr Allert said.
"The Board remains confident that the company’s growth strategy will create significant value for shareholders," he said....................
Dear Shareholder
The Board received last Friday a highly conditional proposal regarding the company’s ownership from a consortium of leveraged buyout funds. The consortium stated that it would only proceed with its proposal if it had the support of the Coles Board.
The Board met today and appointed external advisers, Carnegie Wylie & Company, Deutsche Bank and Freehills, to assist us in considering this proposal. The company will respond to the proposal in due course.
The Board will undertake proper consideration of the proposal and will not be pressured by market speculation to take actions which would not be in the best interests of shareholders. It is likely that speculation will continue over the next few weeks, and it is possible that there will be some media coverage that will reflect the interests of parties who seek to undermine the company and its performance.
Against this background, I would like to outline some of the achievements of the past five years.
The facts are that between July, 2001 and 2006:
- underlying net profit after tax has more than doubled from $333 million to $785 million (subject to audit);
- return on investment has more than doubled from 11.7% to 24.1%;
- the value of your shares has risen by 90%, compared to the ASX top 200 companies at 49% and Woolworths at 71%; and
- We have returned more than $3.3 billion to shareholders through capital management initiatives and dividends.
During this period of turning around the company’s performance, we have also embarked upon a massive transformation of the way we buy and transport products from our suppliers through the distribution system and onto shelves in our stores.
This transformation will deliver a better shopping experience for our customers and is expected to realise financial benefits of $425 million a year in financial year 2008 and beyond.
As you know, the Board also took the decision recently to sell our Myer department store business, thus simplifying the Group and allowing greater financial and management focus on our less discretionary brands.
The price achieved for Myer of $1.4 billion was well beyond market expectations, and has provided significant funds for investment in the company’s future growth.
Most recently, our CEO John Fletcher has outlined our next strategic direction, centered on creating one integrated food, liquor, fuel and general merchandise business, meeting the everyday shopping needs of all Australians under the umbrella brand of Coles.
We are confident that our new vision will provide the company with market leadership, our customers with a great shopping experience and our shareholders with superior returns.
It is these opportunities for further growth that others, perhaps not surprisingly, now seek to take advantage of.
We will continue to keep shareholders informed of developments as they occur.
August 23 2006 - Australasian Investment Review – (AIR)
http://www.aireview.com.au/index.php?act=view&catid=8&id=4329
We probably won’t hear any more from Coles on the ‘offer’ from the buyout group until it reports its 2006 profits next month.
While the board of Coles will now await a briefing and position papers from its advisers, the weights will be on the various buyout groups to detail their interest in the retailer.
We know Coles received an offer that required the company to virtually hand over the keys to the books and the boardroom, without any certainty of a firm, discloseable price.
That sounds absurd in Australia but appears to be commonplace in the US where shareholder rights are quite often asserted after the event through legal action, not during negotiations or a takeover.
The Coles share price will continue a slow easing it started yesterday when it eased 7c to $13.33. That will continue for the next few weeks or so with the occasional buffeting from rumours about offer prices and others being interested in a bid.
Coles is due to report its 2006 profits on September 21, so there’s every chance we won’t hear anything on this bid until then. It seems the logical time to detail further information, unless a firm offer is tabled before then, free of conditions and with a price.
It is clear the ‘offer’ from the buyout group led by KKR of the US, would have prevented the Coles board from trying to start an auction between the groups said to be interested. That would not have been in the best interests of shareholders
Here’s yesterday’s statement from the Coles board and a letter that the company’s 400,000 shareholders will be receiving later this week.
In it shareholders were warned that there might be some parties who would seek ‘to undermine’ Coles’ performance over the next few weeks.
………………
Coles Myer said today it had received on Friday a highly conditional proposal regarding the company’s ownership from a consortium of leveraged buyout funds.
CML Chairman Rick Allert said that the consortium stated it would only proceed with the proposal if it had the support of the Coles Myer Board.
Mr Allert said the Board had met today and appointed Carnegie Wylie & Company, Deutsche Bank and Freehills to advise it in its consideration of the proposal, to which the company would respond in due course.
"The Board will undertake proper consideration of the proposal and will not be pressured by market speculation to take actions which would not be in the best interests of shareholders," Mr Allert said.
"The Board remains confident that the company’s growth strategy will create significant value for shareholders," he said....................
Dear Shareholder
The Board received last Friday a highly conditional proposal regarding the company’s ownership from a consortium of leveraged buyout funds. The consortium stated that it would only proceed with its proposal if it had the support of the Coles Board.
The Board met today and appointed external advisers, Carnegie Wylie & Company, Deutsche Bank and Freehills, to assist us in considering this proposal. The company will respond to the proposal in due course.
The Board will undertake proper consideration of the proposal and will not be pressured by market speculation to take actions which would not be in the best interests of shareholders. It is likely that speculation will continue over the next few weeks, and it is possible that there will be some media coverage that will reflect the interests of parties who seek to undermine the company and its performance.
Against this background, I would like to outline some of the achievements of the past five years.
The facts are that between July, 2001 and 2006:
- underlying net profit after tax has more than doubled from $333 million to $785 million (subject to audit);
- return on investment has more than doubled from 11.7% to 24.1%;
- the value of your shares has risen by 90%, compared to the ASX top 200 companies at 49% and Woolworths at 71%; and
- We have returned more than $3.3 billion to shareholders through capital management initiatives and dividends.
During this period of turning around the company’s performance, we have also embarked upon a massive transformation of the way we buy and transport products from our suppliers through the distribution system and onto shelves in our stores.
This transformation will deliver a better shopping experience for our customers and is expected to realise financial benefits of $425 million a year in financial year 2008 and beyond.
As you know, the Board also took the decision recently to sell our Myer department store business, thus simplifying the Group and allowing greater financial and management focus on our less discretionary brands.
The price achieved for Myer of $1.4 billion was well beyond market expectations, and has provided significant funds for investment in the company’s future growth.
Most recently, our CEO John Fletcher has outlined our next strategic direction, centered on creating one integrated food, liquor, fuel and general merchandise business, meeting the everyday shopping needs of all Australians under the umbrella brand of Coles.
We are confident that our new vision will provide the company with market leadership, our customers with a great shopping experience and our shareholders with superior returns.
It is these opportunities for further growth that others, perhaps not surprisingly, now seek to take advantage of.
We will continue to keep shareholders informed of developments as they occur.
- Status
