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Old 1st Apr 2008, 23:13
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stillalbatross
 
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AirNZ April fools a day late

So you start with a healthy company, you mismanage it into insolvency, sending the share price on a one way trip to Worthlessville, you don't actually sell off it's assets as you should so investors can get a return, you bring in some archaic nationalistic law that allows the govt to issue 90% more shares and take control. Wiping debt and valuing assets including goodwill at zero. They throw in billions (plural) care of the taxpayer while investors ponder how they haven't got a cent back, their shares are worth a tenth, and 90% of any future dividends will go to the govt. Larger investors like the Sing govt writes off its $700mill shareholding and then a few years later you announce

http://www.nzherald.co.nz/section/3/...ectid=10501574

You have a billion or so up your sleeve, didn't you do well.

Only in NZ..........................
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