dinosaur harvey pleas for online tariffs , page-23

abdm.
I wish I could give you more than one thumbs up for that comparrison, and likewise to all who are telling it like it is about Gerry and his whinging!!
The board have just awarded themselves yet more free shares, as Gerry and his cohorts control the voting majority
so I think it is fairto say that they are in it for their own gains.
Comments about them and interest free are accurate, they give little regard for their customers financial situation, and completely rely on Interest free to drive the sales, thus taking a whopping 10 to 12.5% out of the GP.
They also levy a fee on anything that crosses the back dock, money that goes straight to Gerry and it is over 10%.
This charg is thenpassed on to the franchisee and he then pays interest on this gouging by the franchisor.
But the real beauty is that after all this, the advertising, ( yes the annoying, uninteresting and pathetically repetative advertising) is done in house through Gerrys 'Generic advertising', at prices that make the eyes water, but with no accountability for any mistakes or even the chance to view a bill.

So, the poor sap running the store is creamed yet again
it's cost of goods, + freight + levy + advertising fee + interest free charge it all adds up to NO profit for the stores or the people, ie the franchisees, that can turn this sorry ship around.
NO WONDER the good ones left and the rest are too afraid to initiate the change needed.
Now, you might think thats great, Gerry gets the Money back for Harvey Norman holdings, makes more profit for share holders, but with all the guaranteeed profit generated for HVN HQ, they squander and invest in projects, only to back out after massive amounts have been wasted, such as their planned computer operating system. That cost a fortune, and I mean fortune!!
Then only to kill it as too costly.
also. they get a guy to organise the purchase of their computers for in store at 'discount prices', then it seems the guy who did it disapears after taking his kick back from the suppliers and leaves them with a sub standard system that can not compete with an off the shelf model.
The Ireland problem while not entirely of their making, was not done with due dilligence, the property is worthless and the stores are losing money hand over fist
The Kiwi stores are bleeding, the Aussie stores are now expected to settle for turnover and not profit, and don't get me started on Kates Baby........ DOMAYNE!!
a money pit of masssive proportions.
This board needs a good shake up, from the top down, they are accountable to the share holders, no matter how many voting shares they hold.
But the best bit was mentioned before,
Gerry is bleeding his heart out about overseas purchases........
what a dummy, that has just set another 200,000 gen Y minds thinking about saving heaps and never setting foot in a HN store except for research.....
And this guy is held up as a paragon of Aussie corporate brilliance?? PLEASE!!! when the going gets tough, real directors adjust and make the hard decisions. but this sorry bunch are just whinging, carrying on and lining their own pockets at the expence of the shareholders, the customers and lastly the poor franchisees. who if truth be told are the only ones capable of making the right decisions for their demographics that will result in a profit on the bottom line.
SHAME ON YOU harvey norman.