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Thread ID: 112182	2010-08-26 22:35:00	Alan Hubbard	Digby (677)	PC World Chat

Post ID	Timestamp	Content	User
1132066	2010-08-28 01:28:00	:)	prefect (6291)
1132067	2010-08-28 01:40:00	What really peeves me about almost any article about SCF that allows comments is all the "leave him alone - he's done so much good for the community" comments. They're all missing the main point. SCF does not work for the people they loan money to - the charities / starting businesses etc. They are supposed to work for their investors. And sadly - the investors are going to be mainly ordinary NZers. People like my parents who have their retirement funds tied up there. Admittedly it's under the Gov't guarantee scheme - but the sad fact is that they probably would still have their money in there even if it wasn't guaranteed. SCF used to be one of the most stable finance companies out there. They used to invest very soundly. In the last couple of years (and yes I do believe the real culprit is the economic crisis) they have heavily geared toward dairy and other perceived long term investments - but at the expense of liquidity. Then as the bite hit, they've taken on riskier and riskier investments to try and keep everything afloat. In short - they've been misleading their real customer base - and now we will all pay the price as tax payers. What worries me more is that unless people take the blinkers from their eyes, this could turn into more of a mess. SCF IMO cannot survive now unless there is Govt intervention. And the reason it's in the mess it is now is because of the investments it's made - high risk, and not what investors like my parents expected. It doesn't matter what Hubbard's intentions are regarding putting his own money in, or what he's done in the past. The last pillar looks like it may well fall. Unless I can talk some sense into my mum and dad they will eventually get caught in the fallout. Hubbard should at least come clean about the real financial position of SCF!	Brooko (8444)
1132068	2010-08-28 03:10:00	"This should then be quickly followed by Simon Power throwing himself down Parliament's steps. I hope. ' Even if SCF is found to be not negligent, can this still take place?	Whenu (9358)
1132069	2010-08-28 03:31:00	If it were anyone else but Hubbard, the investors would have had his balls by now. But even the investors with a million or two invested (and it sounds as though they have lost their money) still seem to think that Hubbard is a nice guy! It's incredible! He's fooled everybody in the same way as all the other failed companies have. But unlike the other CEOs they still like him.:horrified I think that Hubbard is a bastard - even if they think he's a nice bastard. Nice or not, he has still lost their money and the silly old fool needs to be strung up just the same as any of the other CEOs of companies that have misappropriated people's money. Hubbard deserves to be boiled in oil just the same as all the others.:angry	Roscoe (6288)
1132070	2010-08-28 04:16:00	I'm amazed that people have worked so hard to amass their savings and then invest in all these dodgy schemes instead of just keeping it in the bank. Greed I guess, for the sake of a few percentage points they lose the lot.	zqwerty (97)
1132071	2010-08-28 04:20:00	If it were anyone else but Hubbard, the investors would have had his balls by now. But even the investors with a million or two invested (and it sounds as though they have lost their money) still seem to think that Hubbard is a nice guy! It's incredible! Yes. Perhpas he didn't do it intentionally. Perhaps is he is just a bit dim. But it's because of the South Island thing. 1)He's not from Auckland 2)He doesn't live in a lavious manner 3)He's not from Auckland 4)He's a "nice" man 5)He's not from Auckland So that's OK then, perhaps they could all let him off, they all go home - moneyless and we all talk about what a great guy he was/is.	pctek (84)
1132072	2010-08-28 05:39:00	I'm amazed that people have worked so hard to amass their savings and then invest in all these dodgy schemes instead of just keeping it in the bank . Greed I guess, for the sake of a few percentage points they lose the lot . I have worked damned hard for what I have and I too have invested but I put my hard earned in my house and the investment has been very lucrative and safe . When I bought my house in 1977 in cost nine years' wages . I sold it this year for thirteen years' wages . Not only has it kept up with inflation but it has increased in value . I have purchased another house nearby for eight years' wages and I plan to spend much of the remainder over the next decade or so - having fun . I think that is a very good return - much better than anything else I have heard of and no-one else to blame but myself .	Roscoe (6288)
1132073	2010-08-28 09:55:00	The bloke who advised me on investing was a bit of a prat and a wally, and he no longer runs an investment advice service - he has gone back to selling insurance. Howsomever, he did give me one good bit of advice - never put all your eggs in one basket... He advised me to scatter investments all over the place - $2000 here, $3000 there etc. I just wonder why so many investors in these finance companies have such a large sum invested in one place? These 'Mum and Dad' investors say they are wiped out, perhaps because they have put too many eggs in one basket, be it a finance company that crashes, or a house that turns out to be a leaky home. It is such a basically simple piece of advice - why don't people follow common sense like that? Maybe though, these people that are moaning about losing $250,000 HAVE scattered their investments like me! The difference being that $250,000 might be a fragment of their superannuation fund, whereas for me, $2000 is a 'fragment'... Hmmmm.	John H (8)
1132074	2010-08-28 10:31:00	Have to agree about the eggs in baskets but because of greed they put their money in high return but risky investments. Then go crying on TV when they get cleaned out. Lost life savings bla bla etc. I have as much sympathy for these people as I do with people who send money to Nigeria.	prefect (6291)
1132075	2010-08-28 23:12:00	Maybe Digby is concerned Hubbard did not use a computer and therefore has no need to buy his invention? No, he needs to be two of them, one for him and one for his wife as they might spill their coffee all over the huge desks and those pages of bank statements we see on tv every few days. By the way we have just been told by the patent office that they are going to grant us our patent - yeah !	Digby (677)
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