https://www.news.com.au/finance/business/retail/gerry-harvey…
I wish I read this today as I sat at lunch with 19c in my bank account.
So boss, how many shares can I buy with 19c?
Gerry Hits Back
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Thats why Little Caesars went bust.
"“My advice to you is sell your house, sell your boat, sell your car, put the lot into Harvey Norman and then ring me in three or four years, and you won’t need to be a journalist any more,” he told the AFR’s Chanticleer column."
Gerry really needs to be careful here, as he's literally giving financial advice to someone. Does Gerry know all of the journalist's finances? Does Gerry have a license to give out such advice?
Whos worse gerry harvey or alan joyce..
Its a pretty tough competition
Harvey only lobbies government to steal more of our money to try and force us where to buy, whereas Joyce wants to dictate what we should think: https://www.scmp.com/lifestyle/article/1920251/come-out-clos…
I would hardly call Qantas a "tolerant and inclusive place" to work from the countless articles about the culture and mantra at Qantas
profits over everything. Joyce would do well as a CEO in America, where every employee is just a number to be rubbed out and outsourced
Baby Boomers are dying out and they are the main customer of grifts like HN. Our generation prefers to get ripped off by JB hifi.
It's a new cycle. My daughter works at JB
Some of their Mobile phone sales people are so commission driven, it frightens her from getting into sales, but I think she would be great.Sales is great. you just have to lose your morals, dignity and sense of pride.
I have known people who work in JB to sell purely based on SPIVs the "let me check what I can do" was a chance to check for SPIVs and the push the customer in that direction.
Gerry lost a shitload of money and he wants you to withdraw your money from your bank account and deposit into his.
ABCDEFUGH
Might buy 10k worth you never know.
Thought about buying Harvey Norman shares too but two things scared me:
1) the company takes something like $1.3b in fees from franchisees when the franchised stores did sales of $6.8b in total. It doesn't seem sustainable to me for a store to sell commodity goods like TV's and computers and still pay 20% franchise fees on every sale. I think HN sales are propped up by the older generation, which tend to have more money and are less comfortable researching for good price/value online. That won't last for obvious reasons.
2) if sales tank due to a recession and stores close, the property the stores are on won't be worth $4b or whatever they say it's worth now.
What a d***head
I won't shed a single tear when his business finally goes. He is a self absorbed anti consumer scumbag that represents everything wrong with retail. He campaigned to enforce GST on small purchases from overseas to feather his coffers, he took advantage of covid payments despite record profits and only paid some of it back because of public pressure on him. He has focused on screwing local retailers for decades. Hios statement about making you rich is again focused on himself, if people buy his shares then he can regain some of the money he lost.
I kinda seem to agree with him about most people still doing ok. Cafes like pancake parlour and the groove train still packed despite serving over priced and mediocre at best food. Ariplanes tickets are still selling at crazy prices. Holidays and accommodation booked out. What I read and what I see seems quite different, and no, I'm in no where near an affluent area.
Don't mistaken credit for doing well.
So he's trying to do a Musk.
Hype it up so people buy, then get rich quick. Shame Gerry doesn't have the reach of Musk.Last time I went to pickup a game preorder the customer service was bad, was treated like an inconvenience.
Not bothering going again where possible, will go to JB-Hifi across the mall.
So people no longer want to buy $200 a meter monster hdmi cables? Come on guys
In the land of Ozbargain, where deals abound
There lived a CEO, with riches renowned
Gerry Harvey was his name, a man of great fame
But his prices were high, hardly normal, some claimAmidst the online marketplace, a battle ensued
As consumers sought out bargains, in search of the crude
But Harvey stood firm, with his prices unyielding
Despite the competition, hardly normal was his dealingBut the people persisted, they scoured every deal
No price was too low, no discount unreal
And slowly but surely, the tide began to turn
As Harvey's high prices, hardly normal, began to adjournWith each passing day, the competition grew strong
As Ozbargain's community, sang their victory song
And Harvey watched on, his profits in decline
As the people spoke out, against his hardly normal lineBut amidst the chaos, there remained one truth
That in the land of Oz, bargains were uncouth
And while Gerry Harvey may have lost the fight
His legacy remains, as the man who hardly did right.He is the guy who pushed liberal to have GST on items sold on eBay…. Remember that 😡
Company in decline, as boomer pass away, so do his customer base. It's overvalued.
And 12 months later the stock price has increased by 25%!
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Pretty sure he doesn't have the legal requirements to be giving out financial advice, wasn't some law passed recently to stop "influencers" (he is a known ""celebrity"") from shilling stocks and crypto and other investments?