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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FU GERRY
Double FU gerry
Triple FU to Gerry & his dying empire
F this Jerry in particular.
RIP "no GST on small items"
Could you (or anyone else with a firm grasp of what happened) tell me the tale of Gerry getting us GST on small items? I see it posted a lot but don't ever see an explanation/timeline of how/why it happened
It used to be that online imported packages from (under $1000 declared value IIRC) had no GST placed on them for practical reasons. There was no way to impose the tax at source and it was too expensive to check every package coming in by online order and hold them in bond until the tax was paid.
Gerry very loudly and publicly lobbied for the threshold to be set at zero, saying he just wanted a level playing field but actually on the calculation that all packages would have to be inspected and held until the recipient paid the tax (as was then the case for packages with a declared value over $1000). He had no online presence himself so this was a great way to hobble competition.
Fortunately the government worked out a deal with Amazon and the other big online delivery players to impose Australian tax at source, though this did have the effect of hobbling imports from a lot of small specialty online sellers who couldn't have these arrangements - lots of them instead had to become "fulfilment partners" for the big guys.
I will never choose his stores, ever, based on this. FU Gerry.
Likewise. I'll just pay extra elsewhere, unless he's selling at a loss
Any good lawyers here if this statement doesn't hold up?
“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,”
Anyone want to team up in a class action in 3 years time and let's get rich?
put the lot into HN
A perfect nigerian scammer.
I would literally rather put it on a meme coin like SHIB tbh
Sounds like Jerry is doing a pump and dump run on the stock!
If that isn't financial advice by an unlicenced person I'll eat my hat.
I own HVN shares and every year I fear more and more for my investment because Gerry shows more signs of dementia and overall stupidity.
I own HVN shares and every year I fear more and more for my investmen
If you've owned them for some time, surely you can sell now take your gains and get out before the plunge?
#notfinancialadvise
I could do that but greed stops me
Getting a 13+% + franking credits dividend return on my original investment stops me. When it drops below 10% I'll bail out.
So when the share price collapses you think Gerry will have any money to pay out the class action?
He's got money everywhere.
He can convert his racehorses into pet food to pay the bill.
Or Swedish meatballs.
he can sell the 80 inch tv in the sh1ttr
How is Gerry going to pay you when his company is liquidated? Big companies go down all the time (Dick Smith). Even if it doesn't go down, and you do win the case, you will all get $10 each lmao. Never sign a contract with a company, sigh it with the individual. Companies can go down anytime, and many loopholes. Tell Gerry to sign a contract with you personally that what he's saying will be true, otherwise he has to pay. He would eat his own sh*t rather than signing that contract.
journo - "hey Gerry , how much is a litre of milk?"
gerry - "$27"They were the odds of number 3 at Morphettville.
Gerry - 'It's one banana. What could it cost, $10?"
Gerry, you've never actually set foot inside a supermarket have you?
I had 19c in my bank account yesterday. Unexpected bill. No lunch for 2 days other than uncooked spam.
I can't afford to see a dr with my stomach issues, as I have to purchase immodium.
I just need enough money for argon gas . Better than working for ..
I've been applying for work elsewhere no luck.
If you are in desperate need of some cash I would be happy to send you $10 somehow?
I'm okay @John Kimble. I got paid yesterday.
Put it all on HN shares I hope
OzGoFundMe.
But seriously, very kind of you to offer that for the OP!
I had 19c in my bank account yesterday. Unexpected bill. No lunch for 2 days other than uncooked spam.
Well, it's only $10 and this seems pretty dire…uncooked spam!? 🤢😂
I remember someone bought a pizza for someone else a while back…that was pretty cool.
Edit: Found it!
@John Kimble: I remember a few years ago, someone was depressed and their TV was broken, and a bunch of ozbargainers paypal'd him enough to buy a new TV
Dr is bulk billed no? Or could you go to a university clinic or something?
Finding a bulk billed dr is difficult at the moment.
Can you apply for a concession card? Doctors bulk bill card holders
@Peanut money: Some won't bulk bill unemployed or disability pensioners with health card cards, only retirees and kids.
Where I am finding a doctor isn't the problem, it's getting an appointment thanks to the stupid practice of people forced to see a doctor in person just to get ongoing prescriptions renewed. I couldn't walk a few weeks ago from a back injury but the local medical center wouldn't give me an appointment for 3 weeks. I couldn't stand up straight, could only walk bent over at 45 degrees, but the waiting room was full of people with no obvious problems, so probably all just there for pills or their 427th coNvid booster. I had to go to the local hospital ED instead only to get pain relief so I could travel to get an x-ray (the hospital x-ray person had gone home for the day).
with no obvious problems
because medical issues are only ones clearly visible to a random walking past…..
:/@SBOB: You don't need to "clearly see" evidence because I know the local medical centre leaves ONE appointment vacant per day for "emergencies" so that means everyone else made their appointment 3 weeks ago. i.e. The fact they could wait 3 weeks proves they have LONG TERM health problems or "informational visits" like changing medication, checking x-rays, etc, not "I can't take this pain for another 3 weeks" problems.
Second, when I have gotten an appointment and I'm sitting in the waiting room, I've heard about 40% of people walk in ask for an appointment tell the front counter, "I just need my prescription renewed."
Finally my GP is a 50 minute drive away. Because it's a rural area most people know each other and overshare in the waiting room or on their phone… "I won't be in there long. I'm just getting my diabetes/gout/arthritis script."
Spam is actually pretty expensive
I have a feeling this is "imitation spam"
lol mock meat is even more expensive
You work for Harvey Norman?
So why doesn't he borrow every cent he can to invest in his own company?
I don't actually doubt that HN can rebound, the housing crisis has shown us that there are plenty of people with more dollars than sensibilities. And they gotta spend those dollars somewhere. Maybe the rich don't like taking elevators anymore so they stopped going to David Jones, who knows how rich people think..
Two years of them believing everything the government said and directed the media to repeat verbatim without any real journalism done, proved to me most people don't think.
Yeah I dont give a F about you gerry the money lobbyist frauding tax payers
oh please, so many retailers took that money and recorded record profits. He was just unlucky enough to make the news.
Yeah, leave him alone. Why pick on a minority?
It was far more than that. He's a hefty donator so when he lobbied government to steal more of our money (which we've ALREADY paid taxes on, PLUS pay GST a second tax TOO), they obeyed.
Apparently most horses Gerry owns want to put themselves out of their misery.
I guess Gerry just needed to get his daily fix of getting his name in the news
He pays them for advertising on a regular basis. This is just Murdoch press doing their bit to protect the hand that feeds
***off to sell my high yield investment vehicle and put that into HN stock ***
Lol. Half that post will go "whoosh" over many heads.
Ahh yes, the legendary wit of some Ozbargainers, or at least half of it ;-)
The story every day that interest rates are going up, people are suffering and things are going to get worse – well of course people are going to hold back if they read that every day but the reality is those people are very much in the minority and the great bulk of people out there, 9 out of 10, are doing quite well,”
Remind me not to take that economics lecture from Mr Harvey about how he explains the complete lack of understanding of both statistics or leading/lagging trend indicators.
I think ASIC needs to have a look at what Gezza is saying to the media. It sounds a lot like he is trying to shill his own stock and manipulate its market value…
And he is carrying on like this at a drop of 7.5%?? I want to see the grubby little arsehole sweat when it’s down 75% and the liquidators are waiting.
What happened Gezza? Your stupid GST on $3 plastic shit from China wasn’t the silver bullet you hoped it was? Adding the GST to cheap items didn’t make them more expensive then your over priced shit.
Everyone should boycott his stores and really sink the boot into his share prices.
I mean, he could always take some of that Covid bail-out money and buy some of his own shares… if, you know, sell one of his own boats or properties.
It sounds a lot like he is trying to shill his own stock and manipulate its market value…
If it looks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck.
He's such a miserable money lover. Some people don't know when they have enough. Even when they are close to the grave.
Yep Don't feel sorry for him in the slightest.
Years ago when we worked close to a HN so me and mates used to go in to kill time and then talk elderly people out of buying from them and their inflated prices we would tell them where they could get the same thing much cheaper at other stores.
Their prices used to be so much higher than others and used to use the excuse "oh we can't discount as the stock is owned by the vendor not us".
Hard to feel sorry for a company that was happy to prey on the elderly and take handouts from the government and still rake in nice profits and let employees go.
we would tell them where they could get the same thing much cheaper at other stores.
Not all heroes wear capes.
I hope you taught the ones who bought anyway how to read the codes on the price tags so they could calculate and demand their own discount.
I hope you taught the ones who bought anyway how to read the codes on the price tags so they could calculate and demand their own discount.
their pricing stickers dont include that info anymore and havent for quite a while (like over a decade ago at a guess)
The irony is if you look at the stock price, its been pretty 'flat' for a decade.
If you purchased during the peak of 2007, yes 16 years ago you would have halved your money today!
If you had followed Jerry advice and say purchased 4 years ago as Jerry is claiming you should do today and wait, then those who purchased in 2018 would mean 4 years later you are either slightly down or slightly up. You would have made more money by leaving it in cash!
Jerry is just doing a pump and dump on the stock as its dropped.
Probably up on a 2018 investment if you include dividends, since HVN stock does pay pretty sizable dividends.
the stock price, its been pretty 'flat' for a decade
It goes up and down like a brides nightie. Also, whenever they do an X for 1 share purchase plan to raise capital the price is well below the the current market value.
The dividend used to be fairly crap as well and they would hold it back for 4-5 months.
I don't recall there being any stock splits. Possibly some on market buybacks that would have propped up the share price and helped the major shareholders.My purchases have been:
2002 $2.45
2005 $2.92 & 2.48
2014 $2.50
2018 $2.50
2019 $2.50I don't recall there being any stock splits
Stock charts factor in 'splits' so when you look at the 10 year price history that is adjusted for splits.
My purchases have been:
Excluding the dividends that is pretty crappy for a stock after 20 years.
Excluding the dividends that is pretty crappy for a stock after 20 years.
Not as bad as Platinum Asset Management… :-0
I'm 42% up on yesterdays close but over 20 years its around 2%pa growth and definitely a dividend stock (for me) but even the dividends only came good circa 2014.
Buying today is giving an 8%+franking yield. PE of ~7 is starting to look interesting.What does my head in is that HVN is very much a property play with a property valuation of $3.9billion on a market capitalisation of ~$4.9b. How do they realise the value of the asset? It's not like Brickworks which can develop land that is no longer viable for materials.
Meanwhile, JB Hifi (which also owns Good Guys) posted solid earnings (and i think an increased dividend) at their most recent half year results presentation. There seems to be a lot of negative sentiment towards Harvey Norman here, it would be interesting to see how much that intangible is valued at…
Having said that JBH were also managing expectations re future performance, and their share price has dipped recently.
There seems to be a lot of negative sentiment towards Harvey Norman here
He's a greedy fkr. No tax/GST on imported stuff below a certain amount made no difference to him. People still had to buy their fridge and washing machine here. But he bitched and moaned until the government (who he donates $$$ to) listened, slapped more tax on to make us poorer, meaning now we have to save longer before buying our whitegoods… ELSEWHERE.
I’m equally against Gerry Harvey, but there doesn’t seem to be enough competition to get rid of Harvey Norman. What are his main competitors? Good guys, appliances online, jb hifi, bing lee, betta electrical?
Hmmm…
Yes, the whole gst on imported eBay stuff was annoying!
Sell some race horses on Gumtree Gerry
Looks like the headline/tagline/clickbait has been updated since yesterday, assume that is because News' biggest advertiser (no idea actually) wasn't happy with it.
Billionaire reveals how to get rich in 4 years
Billionaire Gerry Harvey has detailed the surprisingly simple way to get rich like him and he says it will only take four years to do it.News.com.au still carry the headline
https://www.news.com.au/finance/business/retail/gerry-harvey…Also, they seem to do multiple headlines that interchange from one to another possibly to seem fresh and new or to test effectiveness.
more headlines, more clickbait audiences.
Absolute vultures. Telling pensioners that their new fridge warranty is void unless they buy an over priced surge protector to go with it.
I hope ASIC goes after him for manipulating his stock.
He has wasted so much taxpayer money with imposing GST on population and doing jobkeeper while profitable and firing people. Ozb enemy #1 I reckon.
OzEnemy #1
doing jobkeeper while profitable and firing people
Oh this, last I checked he only paid back $6 mil of the $22 mil?
pay back the rest of the jobkeeper money you dog
Poor Gerry… all those profit increases and free taxpayer money: https://www.afr.com/rear-window/gerry-harvey-is-everything-t…
He belongs in the trash.
They should put him in his wheelchair and roll him into the local landfill so he can think about how trashy he is
JANUARY 5th
It was a pleasure speaking with you today!I have spoken with my manager and they advised we will be sending you the gift card once your order is booked-out. When you receive your tax invoice for #2106xxxxxx, please respond to this email and we will send you the bonus 10% gift card.
Should you require any further assistance, please don't hesitate to contact us.
JANUARY 20
Hi
Just got the invoice as attached.
Thanks for your help.
CheersJANUARY 20
Good Day!Thanks for letting us know.
Please don't hesitate to get in touch with us if you need further help. We are always willing to assist.Have a Goodnight.
On Fri, 20 Jan at 7:05 PM
Hi
If you read the original email from WORKER X you were meant to attach a $200 gift card after confirming receipt I sent.
ThanksJANUARY 22
Thank you for contacting Harvey Norman Online!
With regards to your gift card query, I have escalated this matter to my Team leader.Being in the weekend the Team Leader will need to get clearance from back office.
Once they respond we will contact you immediately.
Apologies on the delay in getting the bonus gift card to you in a timely manner.Should you require any further assistance, please do not hesitate to contact us
FEBRUARY 1st
Thank you for contacting Harvey Norman Online. I hope you're well.
I have been advised that you should receive this within the next 1-2 weeks.
If you have any issues receiving this please don't hesitate to email e back.
Have a lovely day!FEBRUARY 16
The gift voucher still hasn't been sent. I have been told by 3 different people via email it will be sent and others on the phone. One said a couple of days, the next said a week then you said 2 weeks.
Can you please amend this today as this is upsetting me and the more I talk about it the more it confirms to many what they already thought about Harvey Norman .
ThanksFEBRUARY 21
Thank you for contacting Harvey Norman Online. I hope you're well.
Has this matter been resolved?
I look forward to your response.FEBRUARY 22
What part of the gift voucher still hasn't been sent. Didn't you understand in the email?
The matter has not been resolved.
ThanksTO BE CONTINUED
And they can't understand why everyone hates them
Dad had the same issue where he was conned into buying stuff on the understanding that he would be awarded with a 10%-value gift card. They slithery snaked their way out of it and when he firmly stood his ground, they went gorilla ape shit saying "you already have a good deal", "you are being greedy" and "what else do you want?"
Please everyone, do not shop at HN (unless it's an incredibly good deal that can't be obtained elsewhere).
I'd probably just refund their shit as not fit for purpose and buy it elsewhere.
@jizmo Feel free to DM me. Do you know which store it came from? Please include in message.
Also, you left your name in the above post. You might want to edit it out, before someone replies. ;)
It was an online order. So I can't go to a local store to get it sorted
They will probably pass the buck, though should at least be able to point you in the right direction. Do you know the Courier details? You can lookup the sending store from the details.
Otherwise, if you send me the order number (starting with 21, I should be able to see who the fulfillment store is?Thanks for your help BOTD.
Does this make sense?
HARVEY NORMAN ONLINE
21A Richmond Road
Homebush West NSW 2140I remember the item was sent direct from the supplier from the delivery docket.
@jizmo: That's the head office address, so I might not be able to help.
Looks like it was fulfilled by a Supplier, and it was possibly Invoiced by Flemington.
Leading indicator of a recession. Let the bastard burn. Unless of course a deal comes along 😂
Hey, I need the work until something else better comes along that pays more.
- Tell customers not to buy, to meet you outside instead.
- Tell them the REAL discount you can give them on that $3000 fridge if they slip you $50.
- Repeat 25 times each week.
- No need for another job.
I wish I could +1
Share some of those sweet spivs ;)
The believes the Australian share market undervalues Harvey Norman stock by up to 50 per cent but expects that situation will correct itself.
Great journalism there… "THE believes"!? I don't know why I would be surprised at the basic mistakes I keep seeing from "journalists" lately, given they probably put the same effort into proof reading as their recent fake news/LACK of real journalism.
Anyway… Talk about delusions of grandeur! I'd argue the truth is his stock is 50% OVER valued. It sounds more like he's thinking about offloading his business and wants to push the share price up before the sale. Well after his whining to the government (who he donates money to) drove shipping prices up to the point that it now costs $20 USD for me to import 2x used CDs, I hope his share price crashes and burns the greedy p___k. And it will only get worse as homeowners who paid too much and put no thought into rates might increase again one day (can we still afford repayments if…) stop buying stuff as they did last time. (Me, I'm looking forward to 8%+ interest rates on savings.)
He controls a huge property portfolio worth between $3.9billion and $5billion, which he says the market has not accounted for in the value of the stock price.
What property… does he mean his own stores? LOL! And who's going to want to rent or buy them as more brick & mortar stores close in favour of people buying online!?
Pump and dump, Gerry… pump and dump.
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Pour one out for my boy Gerry