Adolf hears a whisper that in about two weeks a very high profile finance company will fold.
On September 3rd 1725, British King George 1st signed the Treaty of Hanover which allied Britain, France, Prussia, Denmark and the Netherlands against the perceived threat of an aggressive duo comprising Austria and Spain.
No such treaty will save the hapless and naive debenture holders of New Zealand's 21st century finance companies which have borrowed short and lent long.
Update: '..unable to develop the business in the current climate...' usually is code for'...this outfit is a pile of shit.'
I wonder if the little sawn off short arsed news reader who used to spruik about 'trust and reliability' will be sued by some of Winston First's followers who lose their shirts.
Here's the balance sheet a year ago. The next one should be interesting. Look for the $100m cash and cash equivalent to see if it is still there.
NZ income mobility remains good
43 minutes ago