Australian Politics Forum - Dick Smith's big mistake

Sir lastnail

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Re: Dick Smith's big mistake
Reply #15 - Jan 16^th, 2016 at 12:45pm

The_Barnacle wrote on Jan 16^th, 2016 at 12:37pm:

Swagman wrote on Jan 15^th, 2016 at 1:38pm:

I went to Dick Smith for some basic components. The store guy said we don't sell them anymore

Originally it was an electronics store (which is why they called it Dick Smith Electronics I guess) but in later years it just became a clone of JB HiFi. That was it's downfall

Yep just another box shifter with over inflated prices and the punters fell over themselves to pay 500 million to float this garbage Sad

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Bobby.

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Re: Dick Smith's big mistake
Reply #16 - Jan 16^th, 2016 at 12:58pm

Sir lastnail wrote on Jan 16^th, 2016 at 12:45pm:

The_Barnacle wrote on Jan 16^th, 2016 at 12:37pm:

Swagman wrote on Jan 15^th, 2016 at 1:38pm:

I went to Dick Smith for some basic components. The store guy said we don't sell them anymore

Originally it was an electronics store (which is why they called it Dick Smith Electronics I guess) but in later years it just became a clone of JB HiFi. That was it's downfall

Yep just another box shifter with over inflated prices and the punters fell over themselves to pay 500 million to float this garbage Sad

Hi sir Nail,
when they bought Dick Smith's shops they changed his successful business model.

Now Jaycar has taken a lot of business that Tricky Dicky used to have.

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innocentbystander.

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Re: Dick Smith's big mistake
Reply #17 - Jan 16^th, 2016 at 1:07pm

The_Barnacle wrote on Jan 16^th, 2016 at 12:37pm:

Swagman wrote on Jan 15^th, 2016 at 1:38pm:

I went to Dick Smith for some basic components. The store guy said we don't sell them anymore

Originally it was an electronics store (which is why they called it Dick Smith Electronics I guess) but in later years it just became a clone of JB HiFi. That was it's downfall

True, but greed incorporated knew it wasn't going to be able to steal 500 million dollars from shareholders by selling capacitors and resistors. Grin

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Bobby.

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Re: Dick Smith's big mistake
Reply #18 - Jan 16^th, 2016 at 2:34pm

innocentbystander. wrote on Jan 16^th, 2016 at 1:07pm:

The_Barnacle wrote on Jan 16^th, 2016 at 12:37pm:

Swagman wrote on Jan 15^th, 2016 at 1:38pm:

I went to Dick Smith for some basic components. The store guy said we don't sell them anymore

Originally it was an electronics store (which is why they called it Dick Smith Electronics I guess) but in later years it just became a clone of JB HiFi. That was it's downfall

True, but greed incorporated knew it wasn't going to be able to steal 500 million dollars from shareholders by selling capacitors and resistors. Grin

So - you believe it was never a genuine business but only a scam
to make money by issuing $500 million in shares for a $30 million business?

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Sir lastnail

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Re: Dick Smith's big mistake
Reply #19 - Jan 16^th, 2016 at 5:03pm

innocentbystander. wrote on Jan 16^th, 2016 at 1:07pm:

The_Barnacle wrote on Jan 16^th, 2016 at 12:37pm:

Swagman wrote on Jan 15^th, 2016 at 1:38pm:

I went to Dick Smith for some basic components. The store guy said we don't sell them anymore

Originally it was an electronics store (which is why they called it Dick Smith Electronics I guess) but in later years it just became a clone of JB HiFi. That was it's downfall

True, but greed incorporated knew it wasn't going to be able to steal 500 million dollars from shareholders by selling capacitors and resistors. Grin

It's more or less the same attitude of banks in this country supporting house flippers rather than entrepreneurship. In the end the punters got the business they deserved.

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Sir lastnail

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Re: Dick Smith's big mistake
Reply #20 - Jan 16^th, 2016 at 5:07pm

Bobby. wrote on Jan 16^th, 2016 at 2:34pm:

innocentbystander. wrote on Jan 16^th, 2016 at 1:07pm:

The_Barnacle wrote on Jan 16^th, 2016 at 12:37pm:

Swagman wrote on Jan 15^th, 2016 at 1:38pm:

I went to Dick Smith for some basic components. The store guy said we don't sell them anymore

Originally it was an electronics store (which is why they called it Dick Smith Electronics I guess) but in later years it just became a clone of JB HiFi. That was it's downfall

True, but greed incorporated knew it wasn't going to be able to steal 500 million dollars from shareholders by selling capacitors and resistors. Grin

So - you believe it was never a genuine business but only a scam
to make money by issuing $500 million in shares for a $30 million business?

Private equity paid 90 million before it was offloaded onto the gullible public. They must have realized they bought a lemon so they offloaded it onto the gullible public and then preceded to divest themselves of their shareholdings before the punters wised up to it.

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Bobby.

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Re: Dick Smith's big mistake
Reply #21 - Jan 16^th, 2016 at 5:10pm

Sir lastnail wrote on Jan 16^th, 2016 at 5:07pm:

Private equity paid 90 million before it was offloaded onto the gullible public. They must have realized they bought a lemon so they offloaded it onto the gullible public and then preceded to divest themselves of their shareholdings before the punters wised up to it.

Hi sir Nail,
the fraud squad should investigate it.

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Sir lastnail

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Re: Dick Smith's big mistake
Reply #22 - Jan 16^th, 2016 at 5:13pm

Bobby. wrote on Jan 16^th, 2016 at 5:10pm:

Sir lastnail wrote on Jan 16^th, 2016 at 5:07pm:

Private equity paid 90 million before it was offloaded onto the gullible public. They must have realized they bought a lemon so they offloaded it onto the gullible public and then preceded to divest themselves of their shareholdings before the punters wised up to it.

Hi sir Nail,
the fraud squad should investigate it.

Like I always say a share is only worth what the bigger fool is willing to pay for it !

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mariacostel

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Re: Dick Smith's big mistake
Reply #23 - Jan 16^th, 2016 at 5:22pm

John Smith wrote on Jan 15^th, 2016 at 8:23am:

bogarde73 wrote on Jan 15^th, 2016 at 8:09am:

Decades ago when he sold the business, he sold his name with it

I doubt he had a choice ... the people buying the store weren't going to give away the goodwill associated with the brand 'Dick Smith', not without it greatly affecting Dicks sale price.

He sold the store with a name bearing his own name. If he had started it under a different name, that name would have stayed as well.

I very much doubt anyone is blaming the actual Dick Smith for this fiasco. I know that people can be extraordinarily dim, at times, but that would be a stretch, even for them.

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mariacostel

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Re: Dick Smith's big mistake
Reply #24 - Jan 16^th, 2016 at 5:25pm

The_Barnacle wrote on Jan 16^th, 2016 at 12:37pm:

Swagman wrote on Jan 15^th, 2016 at 1:38pm:

I went to Dick Smith for some basic components. The store guy said we don't sell them anymore

Originally it was an electronics store (which is why they called it Dick Smith Electronics I guess) but in later years it just became a clone of JB HiFi. That was it's downfall

It's often the way with new owners of an already successful business. They think they know better and then go ahead and change everything from what it was to something new... and then it fails. Not always of course, but more often than not.

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Sir lastnail

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Re: Dick Smith's big mistake
Reply #25 - Jan 16^th, 2016 at 5:58pm

mariacostel wrote on Jan 16^th, 2016 at 5:25pm:

The_Barnacle wrote on Jan 16^th, 2016 at 12:37pm:

Swagman wrote on Jan 15^th, 2016 at 1:38pm:

I went to Dick Smith for some basic components. The store guy said we don't sell them anymore

Originally it was an electronics store (which is why they called it Dick Smith Electronics I guess) but in later years it just became a clone of JB HiFi. That was it's downfall

It's often the way with new owners of an already successful business. They think they know better and then go ahead and change everything from what it was to something new... and then it fails. Not always of course, but more often than not.

It's more or less a reflection of lazy aussies and greedy landlords who just want to profit from other peoples hard work in china by adding absolutely no value in shifting boxes. It seems to be a common business model in this country which is why any backyard ebayer can compete quite easily. Just ask your good mate harvey norman. He's another one that adds zero value to shifting boxes and silly aussies fall over themselves to be a part of it.

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"If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region..." - Benjamin Netanyahu in 1995

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mariacostel

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Re: Dick Smith's big mistake
Reply #26 - Jan 16^th, 2016 at 6:05pm

Sir lastnail wrote on Jan 16^th, 2016 at 5:58pm:

mariacostel wrote on Jan 16^th, 2016 at 5:25pm:

The_Barnacle wrote on Jan 16^th, 2016 at 12:37pm:

Swagman wrote on Jan 15^th, 2016 at 1:38pm:

I went to Dick Smith for some basic components. The store guy said we don't sell them anymore

Originally it was an electronics store (which is why they called it Dick Smith Electronics I guess) but in later years it just became a clone of JB HiFi. That was it's downfall

It's often the way with new owners of an already successful business. They think they know better and then go ahead and change everything from what it was to something new... and then it fails. Not always of course, but more often than not.

It's more or less a reflection of lazy aussies and greedy landlords who just want to profit from other peoples hard work in china by adding absolutely no value in shifting boxes. It seems to be a common business model in this country which is why any backyard ebayer can compete quite easily. Just ask your good mate harvey norman. He's another one that adds zero value to shifting boxes and silly aussies fall over themselves to be a part of it.

Talking of boxes... every problem is the same shape to you. You exist inside your own little box and nothing ever ventures in.

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President Elect, The Mechanic Gold Member Offline Australian Politics Posts: 17501 Gender:	Re: Dick Smith's big mistake Reply #27 - Jan 16^th, 2016 at 7:20pm yes... about that name... it should have been a store for male erection problems... and that was DICKS biggest mistake..
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Sir lastnail

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Re: Dick Smith's big mistake
Reply #28 - Jan 16^th, 2016 at 10:17pm

mariacostel wrote on Jan 16^th, 2016 at 6:05pm:

Sir lastnail wrote on Jan 16^th, 2016 at 5:58pm:

mariacostel wrote on Jan 16^th, 2016 at 5:25pm:

The_Barnacle wrote on Jan 16^th, 2016 at 12:37pm:

Swagman wrote on Jan 15^th, 2016 at 1:38pm:

I went to Dick Smith for some basic components. The store guy said we don't sell them anymore

Originally it was an electronics store (which is why they called it Dick Smith Electronics I guess) but in later years it just became a clone of JB HiFi. That was it's downfall

It's often the way with new owners of an already successful business. They think they know better and then go ahead and change everything from what it was to something new... and then it fails. Not always of course, but more often than not.

It's more or less a reflection of lazy aussies and greedy landlords who just want to profit from other peoples hard work in china by adding absolutely no value in shifting boxes. It seems to be a common business model in this country which is why any backyard ebayer can compete quite easily. Just ask your good mate harvey norman. He's another one that adds zero value to shifting boxes and silly aussies fall over themselves to be a part of it.

Talking of boxes... every problem is the same shape to you. You exist inside your own little box and nothing ever ventures in.

yes longprong69... Have you saved up for that sex change operation yet ??

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"If you take out Saddam, I guarantee you that it will have enormous positive reverberations on the region..." - Benjamin Netanyahu in 1995

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Bobby. Gold Member Online Australian Politics Posts: 117681 Melbourne Gender:	Re: Dick Smith's big mistake Reply #29 - Jan 17^th, 2016 at 7:16am Sir lastnail wrote on Jan 16^th, 2016 at 10:17pm: yes longprong69... Have you saved up for that sex change operation yet ?? Hi sir Nail, Lisa has admitted to being Maria.
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