Fixing a financial disaster: Full Ryman chairman interview

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  • Опубликовано: 25 ноя 2024

Комментарии • 45

  • @MarketsWithMadison
    @MarketsWithMadison 4 месяца назад

    Thanks so much for watching this episode! I've started a Markets with Madison RUclips channel, please subscribe here to watch episodes from now on:
    www.youtube.com/@MarketsWithMadison?sub_confirmation=1
    See you soon! Madison

  • @micah1754
    @micah1754 5 месяцев назад +10

    I'm really enjoying the Markets with Madison segment. Madison is a great interviewer and the topics and guests are really interesting. Hope this slot continues

    • @MarketsWithMadison
      @MarketsWithMadison 4 месяца назад +1

      Thanks Micah! I've started a new RUclips channel, you can subscribe here to watch my shows from now on: www.youtube.com/@MarketsWithMadison?sub_confirmation=1

  • @nzheraldtv
    @nzheraldtv  5 месяцев назад +13

    I've been covering Ryman and its issues for years, so this interview with Dean felt like a long time coming.
    We filmed this in a library in a Ryman village, which was fitting given he was such an open book!
    Always keen to hear your thoughts on this interview below. Thanks for watching.
    Madison

    • @thecarpenter645
      @thecarpenter645 5 месяцев назад +1

      Love your interviews not sure about the characters you interview though, anyway what I said about yesterday’s borrowing is the same for todays borrowing it’s tomorrows inflation and as Einstein said to do the same thing over and over again and expect a different outcome is insanity. All these companies, corporations, governments and the general mum and dads with mortgages need to be come more productive and less borrowing otherwise the children will become more and more reliant on borrowing and not productivity. Also the CPI is not a good measure of inflation. Cheers not that comfortable with expressing my thoughts one line but from what I’ve seen with your interviews you are becoming more and more understanding what’s happening out there.

  • @jollyroger1009
    @jollyroger1009 2 месяца назад +1

    I've seen some of those small town business communities similar to the Christchurch aspect of old Ryman: mates looking after each other doesn't lead to the most optimal outcomes.

  • @patrickflanagan317
    @patrickflanagan317 5 месяцев назад +5

    Learning and analysis of mistakes and make changes accordingly is what we should all be about. Nice interview and it may be prudent to start investing in Ryman again if you have a medium term view. 👏👏

    • @markprobett4282
      @markprobett4282 5 месяцев назад +1

      Ryman is a snap shot on the overall trading and investment health of NZ. Westfield Malls for instance, have a 49% stake in all that realestate forsale. Isn't looking particularly good

  • @thecarpenter645
    @thecarpenter645 5 месяцев назад +10

    Yesterday’s borrowing todays inflation and that’s what’s killing their business model

    • @grizzz6884
      @grizzz6884 5 месяцев назад

      hit nail on the head

  • @adastrajane
    @adastrajane 5 месяцев назад +16

    I am recently retired but my entire career was in management of facilities for Oceania, Bupa and others. Don't cry for the owners and shareholders. The "right to occupy" is a rort as is the absolute theft that goes on with government funding. As tax payers we are paying twice as much to private operators than we would have to pay in public ones. And the care is appalling - deliberately under-staffed to make money. I hope these operators do exit the market so that people can be properly cared for in the public sector with adequate staff numbers and training. These facilities LOOK fantastic but it is a trick. People assume that such beautiful facilities offer a commensurate level of care, but they do not. I'm glad the government is looking at the sector. This guy thinks a government enquiry will be good for the likes of Ryman but I hope such an enquiry will reveal the truth about these companies. The sector is a rip off and needs to be restructured. Residents/clients are ripped off as are tax payers.

    • @kiwikiwi223
      @kiwikiwi223 5 месяцев назад +6

      Worked in the industry and that is my exact thoughts as well. Money and greed at its best

    • @petercreagh8797
      @petercreagh8797 5 месяцев назад +1

      I spent a night in hospital level care in a competing village while recovering from an operation and it appeared to be short staffed overnight as call bells did keep me awake. Ringing 111 could possibly get a quicker response overnight in some care facilities.

  • @reddog5031
    @reddog5031 5 месяцев назад +1

    The share price collapse caught many share analysts off guard.!
    Personally I think elder care doesn't suite a profit model well. Staff are not well paid and accidental neglect of the elderly is a public relations nightmare.

  • @algoodsfx939
    @algoodsfx939 5 месяцев назад +3

    Always love your interviews

    • @MarketsWithMadison
      @MarketsWithMadison 5 месяцев назад +1

      Thanks so much for watching! Please subscribe to this new channel to watch my future episodes. I'll upload them from this account going forward. Madison

  • @ryanjohnsonhunt
    @ryanjohnsonhunt 5 месяцев назад +3

    Super interesting I learned a lot about the aged care industry.

  • @richardjohn-io1jy
    @richardjohn-io1jy 5 месяцев назад +10

    Its a sinking ship - they build cheap villages - overspend head office big wages regular promotions.

  • @joedennehy386
    @joedennehy386 5 месяцев назад +1

    Its hard to muck up a license to print money

  • @richardjohn-io1jy
    @richardjohn-io1jy 5 месяцев назад +6

    They rent the head office from a board member - high rents you should investigate.

    • @MarketsWithMadison
      @MarketsWithMadison 5 месяцев назад

      Had a look into this! Annual report just out shows this as a related party transaction, but says director Warren Bell does not have a personal interest in it. He's left the board too btw. Madison
      From the report:
      "Since August 2012 Ryman Healthcare Limited has leased office accommodation from Airport Business Park Christchurch Limited (the Airport Business Park). Warren Bell is an independent director or trustee of the Airport Business Park’s shareholders. He does not have any personal ownership interest."

  • @patu5798
    @patu5798 5 месяцев назад +1

    Madison is smart and tidy ❤

  • @andrewking9435
    @andrewking9435 5 месяцев назад

    Govt subsidy and asset threshold for aged care broken.
    If parent owns family home valued greater than $270k then govt asset strips redident to pay rest home fees. This figure hasnt been adjusted for average house price of $850k
    In addition rest homes hiking fees to cover costs is also unsustainable as residents simply dont have approx $6k per month

  • @mikegao4954
    @mikegao4954 5 месяцев назад +1

    great show

  • @bernardpullon4632
    @bernardpullon4632 5 месяцев назад +2

    It was obvious that 2024 was going to be a tough year to some of us. I worry when I hear people in his position say 'we expected that things would ease in 2024', that tells me that, through all the talking up done by media, bank economists and other analysts, they were ignoring the fundamentals. Therein lies the problem.

  • @trengrove
    @trengrove 5 месяцев назад

    Excelent interview!

  • @petercreagh8797
    @petercreagh8797 5 месяцев назад

    They are in effect a landlord and it appears to be a poor business model to charge a fixed fee for however long a resident wants to say as that would never work in a housing situation. Doing away with the fixed fee and allowing a bigger return to the residents family when they die maybe a better option?

    • @growtocycle6992
      @growtocycle6992 Месяц назад +1

      The residents pay for a HOUSE inside of the residence.. That's the fixed cost... There is an ongoing cost for services, food and maintenance, and additional costs for medical

  • @chrisphillips6106
    @chrisphillips6106 4 месяца назад +1

    Investors, it's all about the investors. Imagine if these places looked more at helping people rather than fleecing them our of all their money. Retirement villages are just another wealth transfer!

    • @jollyroger1009
      @jollyroger1009 2 месяца назад

      Sure are. They aren't going away though. The only thing I can think of is for residents families to have some shares in the village and at least get some kind of refund in dividends (read: if you can't beat em join em!).

  • @Ecco-ix1yc
    @Ecco-ix1yc 5 месяцев назад +1

    Poor bugger. The Covid response and labour government money printing have disrupted their plans greatly. Can thank Ardern, Robertson and Orr for munting the nz property market, sustained high inflation and through the roof costs, not least of all hiking the minimum wage and closing nz for months on end.
    All nz companies facing these appalling conditions whilst the rest of world comes out of it.
    Only Orr left and being held accountable for the mess left.
    Ryman do a good product hope they can sort this out and come through the other side.

  • @algoodsfx939
    @algoodsfx939 5 месяцев назад +4

    To big to fast over leveraged 😊

  • @willtekata1763
    @willtekata1763 5 месяцев назад +3

    You could see it coming miles away. They will go broke too and now those poor old folks will end up on the street and share holders will sell out

    • @petercreagh8797
      @petercreagh8797 5 месяцев назад

      Govt bailout maybe due to it being bad politically to force thousands of elderly into tent accomodation in parks and reserves which would be the only alternative if they could not pay.

  • @richardjohn-io1jy
    @richardjohn-io1jy 5 месяцев назад

    They don't pay Tax did you forget to ask?

  • @richardjohn-io1jy
    @richardjohn-io1jy 5 месяцев назад +2

    Maybe he should inquire about Ernest Rutherford

  • @richardjohn-io1jy
    @richardjohn-io1jy 5 месяцев назад +5

    Your staff don't trust you with the regular management team

  • @koro287
    @koro287 5 месяцев назад +2

    The mantra was 'Greed' got stabbed in the back by interest rates.

    • @lisadeee1343
      @lisadeee1343 2 месяца назад +1

      Exactly what I said, so very true!

  • @nzzenith
    @nzzenith 5 месяцев назад

    Short-term overspending just because of a temporary low of interest rates.

  • @MohamudAbdullahi-o5f
    @MohamudAbdullahi-o5f 5 месяцев назад

    Mercury I'll built the dependence and delivery 🚚 qualities bi idni Allah

  • @richardjohn-io1jy
    @richardjohn-io1jy 5 месяцев назад

    I wasn't there what a cop out!