PIGS page here

This page was previously reserved for official publications by PXUPA Investor Group Supporters (PIGS).

PaperlinX PIGS (PXUPA Investor Group Supporters) now has its own site at http://paperlinxpigs.wordpress.com/about-us/ 


PXUPA Investor Group Supporters

Founding Convenor - Gaby Berger 
Current Convenor - Graham Critchley 


All publications previously hosted here are now available at http://paperlinxpigs.wordpress.com/ 

Please feel free to contact PIGS at http://paperlinxpigs.wordpress.com/contact-us/

25 comments:

  1. Just had a look via Google maps at The Berger residence. Life is tough!
    Don't you think that the public, the regulators and most just people would rather see Paperlinx try and preserve the incomes of 6500 dedicated staff, rather than wind the company up so Mr Berger can resurface his Point Piper Tennis court?
    I understand that you guys have had to settle for a little less Caviar this festive season, but let's be decent people and think about an outcome that benefits the majority, not just the 1%.

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  2. Ed: Dear Anonymous. I’ve been expecting such a comment and please note it is posted and remains unedited.

    You said: “Don’t you think that the public, the regulators and most just people would rather see Paperlinx try … “. This proves how out of touch you are. The public doesn’t care. The Regulators are impotent and it’s not their role.

    There are two aggrieved parties in the demise of PaperlinX – long suffering employees and hybrid debt holders.

    PPX shareholders deserve what they are getting, because they elected the Board.

    The crime here is that PaperlinX blew $2Bn over 8 years. It may surprise you that while I’ve never met Gaby Berger, other than through this forum, I respect his wealth creation as opposed to PaperlinX’s wealth destruction.

    If you are genuinely concerned about the “wealthy caviar consumers”, take up my challenge and get the private addresses of directors and senior executives at CONTACTS 4VIPs or http://www.paperlinx-sux.com/p/contacts.html

    Some of them have tennis courts too; but the directors hold virtually no equity in PPX shares. Funny huh, the directors and senior execs hold no equity.

    Fact is, PaperlinX probably wouldn’t exist today but for the presence of hybrid debt. Please read “How PXUPA saved & saves PPX” or http://www.paperlinx-sux.com/2011/12/how-pxupa-saved-ppx.html

    If you are an employee and what to see some wrongs righted, please avail yourself of my confidential Whistle-Blower facilities at http://www.paperlinx-sux.com/p/whistle-blowers-here.html

    Of course you may stay anonymous and do nothing, and you’ll get what you put in – ZILCH. The challenge is for you to act or moan.

    Over to you. Confidentiality guaranteed.

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  3. What an opportunistis little so and so.

    You bought these hybrids well below $100 each by your own admission on 7:30 report. You thought you couldn't lose, PaperlinX either keeps paying a high yielding distribution or they go bust and pay out the full $100 per hybrid giving you multiples of your initial investment.

    I love the line above "help every PXUPA investor claw back as much of the $100 face value of PXUPA as is possible."
    pffff - when did you buy PXUPA exactly? $30 - $40 range? If that???


    I feel for the people who have, one way or another, invested in this company, losses can be hard to take especially in later life. I hope thay can recover some of their $$ but at the same time sincerely hope that you don't profit a cent.

    Your agenda is not admirable, you paint it as a crusade for the little guy but it's not, it's transperent and annoys me greatly. You admitted you bought in at the bottom on the 7:30 report so you probably haven't lost much money, but now you're missing your pot of gold and you're angry.

    Tony Clarke came on board to help restructure/salvage this company as he had done at Centro.
    I believe the best outcome for all is to get this company profitable again; for employees, shareholders and hybrid debt holders.
    You don't give a stuff about that, takes too long to get paid.

    You want to launch legal action, go for it. Just don't ever EVER pretend to have anyones best interest in mind other than your own.

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  4. Ed: Dear anonymous, feeling better now are we?

    In the interests of continued transparency I respond below for the benefit of others who may be swayed by your ignorance of markets, and the difference between debt and equity.

    Next time be courageous and state your name and contact details. Mine are there for all to see under CONTACT US. See my responses below.
    ______________________________________________
    Anonymous said...
    What an opportunistic little so and so.

    You bought these hybrids well below $100 each by your own admission on 7:30 report. You thought you couldn't lose, PaperlinX either keeps paying a high yielding distribution or they go bust and pay out the full $100 per hybrid giving you multiples of your initial investment.

    [RESPONSE - THAT SOUNDS LIKE GOOD INVESTING TO ME. Point of clarification, the “high yield” reflects the risks and in no way impacts on PPX as it has an obligation to pay a modest rate of interest on the borrowed sum of $100 per PXUPA unit]

    I love the line above "help every PXUPA investor claw back as much of the $100 face value of PXUPA as is possible."

    [RESPONSE – I think it’s noble that every investor benefits from the actions of a few concerned folk who are prepared to stand up and be counted.]

    pffff - when did you buy PXUPA exactly? $30 - $40 range? If that???

    [RESPONSE – my buy price is none of your business. You to can buy PXUPA at $17-18 now and be a winner if we succeed]


    I feel for the people who have, one way or another, invested in this company, losses can be hard to take especially in later life. I hope they can recover some of their $$ but at the same time sincerely hope that you don't profit a cent.

    [RESPONSE – how churlish]

    Your agenda is not admirable; you paint it as a crusade for the little guy

    [CORRECTION – the ABC broadcast only limited parts of the total interview which lasted about 20 minutes. If you view the ABC’s presentation of the issues that way then that isn’t my fault]

    but it's not, it's transperent and annoys me greatly. You admitted you bought in at the bottom on the 7:30 report so you probably haven't lost much money, but now you're missing your pot of gold and you're angry.

    [RESPONSE – Please don’t assume you understand my emotions. The “pot of gold” is still there for all to see - $100 per PXUPA. My crusade is against the Directors and Company Secretary of PPX for a range of proven and documented misdemeanours unbefitting their respective offices]

    Tony Clarke came on board to help restructure/salvage this company as he had done at Centro. [RESPONSE – with no intended disrespect for Mr Clarke, that’s interesting public knowledge irrelevant to the issues at hand]

    I believe the best outcome for all is to get this company profitable again; for employees, shareholders and hybrid debt holders.
    You don't give a stuff about that, takes too long to get paid.

    [RESPONSE – dream on. PPX is a poorly managed business in a cut-throat industry where it is now grossly undercapitalised. Read DISMAL FACTS at http://www.paperlinx-sux.com/p/dismal-facts.html and “PPX Hubris, Hope ... Humilation” at http://www.paperlinx-sux.com/p/hubris-hope-humilation.html

    Presuming you understand financial ratios and ROE, when do you project that PPX will be "profitable" again? It hasn’t produced an acceptable ROE since 2003. You could have held the same irrational belief in any of the past 3-5 years. Why is now different?]

    You want to launch legal action, go for it.

    [Why bother? The hybrid holders have priority according to law and will be satisfied in preference to the ordinary shareholders]

    Just don't ever EVER pretend to have anyones best interest in mind other than your own.

    [RESPONSE – that’s your personal interpretation, and certainly doesn’t reflect my views or intentions.]

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  5. Good research paper by macQuarie was released this morning.
    Recommendation was neutral, but with an end of year share price of 31 cents for ordinary shares.

    Without doubt the proposed offer of 9 cents for PPX and $21 for PXUPA is heavily in Favor of ordinary shareholder. The breakdown is in general terms PPX 45% and PXUPA 55% of the possible takeover spoils. When it should be close to 95% PXUPA.

    Note if MacQuarie is right and PPX is worth 31 cents, then PXUPA will be worth close to $70.

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  6. Peter Robinson1/03/2012 02:58:00 PM

    As a small investor I am very pleased to go along with the ride that people like Graham Critchley and Garry Berber have started. Unfortunately the developing situation does not look great for ordinary shareholders, but there is a pecking order and the PXUPA are also far from the top.
    My congratulations on the PIG'S launch.

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  7. Ed: Re MACQUARIE REPORT
    Thanks, much appreciated. These figures are broadly in line with our detailed research of division of the spoils.

    ReplyDelete
  8. [RESPONSE – dream on. PPX is a poorly managed business in a cut-throat industry where it is now grossly undercapitalised. Read DISMAL FACTS at http://www.paperlinx-sux.com/p/dismal-facts.html and “PPX Hubris, Hope ... Humilation” at http://www.paperlinx-sux.com/p/hubris-hope-humilation.html

    Presuming you understand financial ratios and ROE, when do you project that PPX will be "profitable" again? It hasn’t produced an acceptable ROE since 2003. You could have held the same irrational belief in any of the past 3-5 years. Why is now different?]

    So again, explain why you invested, its just as the author above stated, you tried to get in at the bottom and hoped for a big payday.

    While I don't 100% agree with capitalism, I also agree its the only way to go, it just needs to be fixed thats all, but please as the above author stated fairly eloquently I might add, don't be playing me for a fool.

    If there is a potential buyer and folks like yourself screw it up for us 6000 or so employees, well pox on you then and enjoy your karma, though from the likes of your kind, nothing would surprise me.

    Perhaps I'm wrong in my assumptions about you, I hope I am, take your loss and move on.

    Gary

    Also, you keep speaking of making it known who you are, well I'm no lawyer but I would figure to have a blog such as this with the included allegations and such would require you to be out in the open.
    I also believe there to be an air of egotism associated with a blog such as this.

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  9. I remember a meeting with Gabby Berger a few years ago, maybe a while ago, where he said "The Wang VS platform is the way of the future."

    Suffice to say he has been wrong before and is wrong again.

    Times have changed and business is different since he did the deal with Kay/Quinn and Nelson.

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  10. Perhaps the real 'buggy whip business' is investors who don't read a prospectus and live in the 1980's?
    Or.....maybe the current market position of 'Berger Software' shows what 'PIGS' really know about business in 2012?

    If memory serves me right, Apple, Microsoft, Google and Facebook were all created after Berger Software. I wonder which 'visionary' I would back in hindsight?

    Oh and by the way....Graham..... The bow tie is not a good look in 2012. I'm just saying!!!!

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  11. Gary, A buyer will probably strip the guts out of PaperlinX. If you don't realise that then this is sad.

    The fact is that PaperlinX has been struggling for years. My reasons for buying are obvious if you understand the difference between corporate debt and equity. Hope this helps.

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  12. Ed to Anonymous who made unsubstantiated comments about people unable to defend themselves.

    Your two comments were deleted as the topic here is PaperlinX and PXUPA. If you have anything to say about the Trust Deed, please say it.

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  13. I have nothing more to add, except that this is a moderated discussion and YOU control who can speak.

    BTW... everything I said is "verifiable", including your bad taste in bow ties

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  14. Don't be a coward..... you accuse PPX of "lack of transparency". Be above them and publish my comments.

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  15. How about a public debate, so you cowards can't hide behind a keyboard

    Me thinks that Graham and Gaby can't hold up to public scrutiny.

    COWARDS.

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  16. Ed: If you wish to have this style of exchange please go elsewhere, or I will moderate every comment. The two deletions mentioned above were the first deemed necessary.

    PLEASE LIMIT YOURSELVES TO THE TOPIC OF THIS BLOG & DESIST FROM PERSONAL ABUSE.

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  17. Ed: I'm happy to debate the rights and likely outcomes of PXUPA holders with identified parties, ie not just "Fred".

    If you want debating practise, this isn't the place for you.

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  18. I came to this site as a PXUPA investor (10,000) and I am disgusted by the language and carrying on here. Lie with dogs, get fleas.

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  19. Graham, what you are doing is not good. Destroying 6500 families for your own personal war is not good. Please consider the 'karma' you are bringing upon yourself and your family above the profits you could have made.

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  20. REGRETTABLY, THIS BLOG IS NOW MODERATED

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  21. I have some money invested in PXUPA on the recommendation of a stockbroker, and would love to get it back. This was supposed to be the year when that happens.

    As a small investor, what can I do to help?

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  22. Ed: Do you mean help yourself or help PIGS?

    Help yourself by registering with PIGS, quoting the name in which you hold the investment and the number held. We'll then add you to our growing register of supporters.

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  23. Hi, I would like to obtain the documents which set out the legal specifics and technical details of what happens to PXUPA holders in the event of a takeover/ acquisition or a liquidation. Is that all set out in the 2007 PDS?

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  24. Ed: Yes, easily obtained from Paperlinx.com.au

    Apologies for the delay in responding, I've been out of town.

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  25. As a first time visitor to your site I find some the exchanges on this blog interesting to say the least. Firstly I think the anonymous poster who said they were disgusted by the language on this site should not be taking aim at the editor as they clearly have attempted to keep the content of exchanges about the issues at hand.
    To the aggressive anonymous poster - in life I have found that people ordinarily use unrelated avenues to unleash their anger. It seems the actions of successive managers has put Paperlinx in the position it is today, not the editor. PXUPA holders, irrespective of their purchase price, have the same rights under law. If some of those holders profit from a better outcome than what looks likely based on the current security price, then lucky for them. It does not make them a worse person than say I, who will likely not get his initial investment back. Remember, for every person who MIGHT make money on PXUPA securities because they have bought them substantially below face value, there is someone who has lost a lot of money. That's not the new buyers fault, that's the people who put the company in it's current dire state.
    For all of those who are PPX employees, clearly some on this blog, if you think that a private equity takeover is your answer to a long and stable employment, I can assure you, from experience, you will be sadly mistaken.
    Congratulations editor for doing something and keeping it non personal despite the taunts.
    Cheers

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