The Forum > General Discussion > What happens to SMH if Gina sells her shares.
What happens to SMH if Gina sells her shares.
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Posted by 579, Wednesday, 27 June 2012 8:57:56 AM
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579; to get 100% voting rights she would have to buy all shares.
The left handed journalists and others are worrying about nothing as the ABC is still there. You cannot get much further left than the ABC. When my son started work at the ABC, he was told not to tell anyone that he may vote Liberal if he wanted to have a career there. There are no gays in the closet at the ABC because it is full of Liberal voters. Posted by Bazz, Wednesday, 27 June 2012 1:18:03 PM
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Bazz, is it possible, just barely possible, that you're overegging this custard - just a leeeetle bit?
Anthony http://www.observationpoint.com.au Posted by Anthonyve, Wednesday, 27 June 2012 1:32:03 PM
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If Gina sells out the shares will fall like a stone.
The company will become basically worthless. The bunch of old boy directors will be chucked out on their ear, where they aught to be. This tired old bunch, who let the inmates run the asylum will have got what they deserve. The company will probably fail. Gina may buy back in, much cheaper, but the company might still fail. God lets hope Tony does the same with their ABC. Posted by Hasbeen, Wednesday, 27 June 2012 1:38:03 PM
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No Anthonyve it is very correct. A year ago approx I asked him about
it again and he said it is was worse than it was when he started there about 20 years ago. The internal structure is fairly rigid as the lefties have all got into positions where they can affect promotions. It is a bit like the Masons, you know, have you got the right handshake ? or should I say the left handshake, hi ! Posted by Bazz, Wednesday, 27 June 2012 2:10:29 PM
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Gina as the single largest shareholder is entitled to some seats on the board. However, even 3 seats is not a majority, and not likely to enable her to manipulate the editorial content.
When she bought blocks of shares from other investors away from the trading floor, it made little difference to the share value. However, if she dumped 20% of the shares on the open market, the story is very likely to be different. As the ability of organisations to borrow is linked to share price, a crash in share value would have severe effects on any companies liquidity. Posted by Shadow Minister, Wednesday, 27 June 2012 2:10:50 PM
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Chanel 10 in sights also.