We note that hedge funds don't have a meaningful investment in Mainfreight. [3][4], When the company was founded it entered a highly regulated transport market. "On the back of that, some falls in fixed mortgage rates and the pro Lost crops are expected to knock production by $100m a year. The philanthropist was recognised at the New Zealander of the Year awards. FedEx remains UPS's biggest competitor. He says education is an area where New Zealand could improve by teaching students how to create new technology, rather than just be passive users of it. How Cisco maintains a new sustainable startup model, producing the next generation of industry-leading technologies. The TimeOut Charitable Trust connects holiday homeowners with the terminally ill and their families, offering them a chance to make lasting memories together. Target has offices in 35 cities throughout the United States and an international network of agents in over 70 countries.[15]. For more information, please visit our cookie statement. It's the answer to poverty, says Mainfreight co-founder Bruce Plested. When the company was founded it entered a highly regulated transport market. When multiple institutions own a stock, there's always a risk that they are in a 'crowded trade'. Bruce believes people grow when they are given this responsibility. payment) for sitting on the Board since 2014. "It's a small part of his overall holding and I suspect it would have pained him to sell. The other thing is to have our own ideas. Insiders At Mainfreight Have Bought Stock Recently Over the last three months, we've seen significantly more insider buying, than insider selling, at Mainfreight. That barge was tagged by protesters "we don't want u!!". Mair estimates a quarter of berths are for sailboats, the rest for motorboats. "[8], In June 2013, Mainfreight launched a lawsuit seeking 11 million or $18 million against Wim Bosman Group's former owners. But to understand Mainfreight better, we need to consider many other factors. "When Mainfreight was starting out, people had to work late on Thursday nights loading sea freighters. Napier Port held an institutional investor day and rose 14.8c or 4.52 per cent to $3.42. Mainfreight is hosting a BBQ for customers, family and friends on September 22nd! Currently, he is Executive Chairman at this company and Chairman of Mainfreight GmbH (a subsidiary of Mainfreight Ltd.). Nearly a third of the trading value was in Mainfreight, which fell $1.80 or 2.33 per cent to $75.30. Asia, and the United States. Mainfreight employees are empowered to make decisions. It was founded by Bruce Plested in 1978 and headquartered in Auckland, New Zealand with 5,771 employees and over 240 branches across Australia, China, Europe, New Zealand and the United. We have to make decisions based on five or ten years, which means often well pay for more now, before we need it, but knowing that we will need it, he says. They make their own decisions and have autonomy, but they want 'Dad' to be happy with them. Liked by Tansy Austin. New Engineer jobs added daily. Institutional investors commonly compare their own returns to the returns of a commonly followed index. Mainfreight listed on the NZX in 1996 Mainfreight was founded on March 23, 1978 by Bruce Ples In New Zealand, Mainfreight has partnered with Spark on an internet of things (IoT) network to keep track of shipments, and this effort may extend to more analytical capability. Bruce would make sure there was a roast dinner laid on for everyone who helped.". At Mainfreight we all eat at one big long table.". What sort of money? However, high insider ownership can also give immense power to a small group within the company. Other Current Significant Directorships and Trusteeships: BUPA ANZ Pty Limited (Chairman), Adherium Limited, Clearspan Limited, Thinxtra Australia, Starship Foundation, Massey University Foundation. It's no use just giving people more money.. Leverage your professional network, and get hired. He imagines he follows the rules but still gets "hauled off to a concentration camp". You can click here to see if those insiders have been buying or selling. . He is also on the board of Rorohara No 2 Trust. Appointment to Board 1978 - With Mainfreight since 1978. Boats will discharge into facilities at the bay end of the marina. The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. Marina services will run in hollow shafts within the new pontoons, bringing power, fresh water and fibre for communications and security cameras to each berth. The Top 200 Awards judges say he built a global transport company from nothing. Waiheke Island marina re-hearing denied, Kennedy Point project to proceed - NZ Herald, Kennedy Point marina construction starting, berths sold from $180k each - NZ Herald, Opponents lose Appeal Court attempt against Waiheke's first commercial marina - NZ Herald. "We changed from a u-shape to a central pine walkway 3.3m wide by 150m long.". Mair said another drilling rig would arrive shortly. Plested's secretary Carol Selwyn says she doesn't do slow: "It would be hard to work for anyone who moves slower than I do." You may withdraw your consent at any time. Notably, that recent purchase by Bruce Plested is the biggest insider purchase of Mainfreight shares that we've seen in the last year. Mainfreight chairman Bruce Plested has again used the company's annual report to speak out on social inequality, asking if sharing a percentage of profits among the people who helped create them . Ultimately the future is most important. Ngti Poa iwi members have also been camping at the site where Mair's business began development in early March. Celebrating our founder, Bruce Plested's 80th Birthday at Mainfreight Warehousing Toronto! The Mainfreight founder also has a social conscience. "It's no use just giving people more money." Plested's early home life was a book-filled one, and his mother would always read to her two sons. His leadership is underpinned by a strong belief in Mainfreights global competency and capabilities to provide high-quality supply chain solutions for our customers. The trust now has a 14.83 per cent shareholding in Mainfreight, down from 16.29 per cent. [2] In 1979, Bruce Plested partnered with Neil Graham, with Graham based in Christchurch and Plested in Auckland. Plested has planted 100,000 native trees to bring bird life back to parts of the country and, Braid says, he insisted on the firm using recycle bins long before they were common. Today Mainfreight has been transformed into a major international logistics company with 6011 employees working in 233 operations around the world. Bryan has a wealth of experience, both in executive and board roles. He sets high standards for himself and has created a family atmosphere where people want to prove their worth to him. Liked by Brad Greer. The cheapest berths went for $180,000. Brothers David and Kerry are also involved in the boating and marine sectors. Today he chairs a group of telecommunication companies. Since then, we have grown to become a global logistics provider with over 11,387 team members across 26 countries, including . It also has investments in Z Energy and a portfolio run by Fisher Funds. It's grotesque if you see what they're trying to do," Plested said of Tony Mair's 186-berth marina proposal for Putiki Bay, Kennedy Point. In 2016, when Auckland Council granted consent, SKP appealed that to the Environment Court but was refused and the consent was upheld. Mainfreight Limited began its operations in Auckland, New Zealand in 1978. Plested and Braid are based at unfashionable Otahuhu in South Auckland. Don has over 40 years experience in the freight industry, including 26 with Mainfreight. In 2001, Mainfreights management decided that technology needed a global role, and Drinkwater became CIO. Mainfreight commenced operations in Auckland in 1978 and is the largest freight company in New Zealand. Insider ownership is positive when it signals leadership are thinking like the true owners of the company. Our studies suggest that the top 25 shareholders collectively control less than half of the company's shares, meaning that the company's shares are widely disseminated and there is no dominant shareholder. Of initial expressions of interest in berths, 68 per cent have indicated they are Waiheke ratepayers, Mair says. That will be a jack-up barge with a drilling rig, able to work on the 26 reinforced concrete piles for the new wharf. But David Baigent of marina opponents SKP Inc describes the project as "an offensive, elitist edifice". As Chairman and Founder, Bruce shares his vision for the Company with the Mainfreight team, bringing a particular focus to quality and our culture. This can be negative in some circumstances. Now, SKP is going to the Supreme Court to get the High Court ruling overturned and allow it to go back to the Environment Court. The Founding Owner & Executive Chairman Bruce Plested made the biggest insider purchase in the last 12 months. Other Current Directorships: Member of the CFO Advisory Board, Auckland University Business School, Member of the Board of Trustees of Dress for Success Incorporated, and private family companies. Drinkwater has contributed to the local CIO community and has regularly featured in the CIO50 New Zealand Awards in 2019 he was No. We wont charge for 10 days. Bruce Plested, founder of Mainfreight, said his business partner of 36 years was "the humourist and salesman without peer". Mainfreight Limited (NZE: MFT) is a global transport and logistics business based in New Zealand.. Meal kit company My Food Bag rose 6c or 4.26 per cent to $1.47 after telling the market it will be using social enterprise firm GoGo's carbon footprint tracker app. Between 1994 and 1997 Mainfreight started acquiring former competitors, such as, Daily Freightways and Chem Couriers in 1994, a 75% shareholding in Lep New Zealand in 1996, and Combined Haulage and Senco Haulage in 1997. In 2008, the United States locations were re-branded as Mainfreight USA. Mainfreight executive chairman Bruce Plested is the winner of the Deloitte Top 200 Visionary Leader 2014 Award. People from the outside that take your watch and tell you how to read the time. 14 July, 2017. One of the most concrete examples is the companys bonus scheme, whereby everyone in a branch is paid the same dollar amount in bonuses each year. "Completion of the whole project will be at the end of next year," Mair said. He has also personally funded marinas at Tutukaka, pua and rkei. Alternatively, email editorial-team (at) simplywallst.com. Our data suggests that Bruce Plested, who is also the company's Top Key Executive, holds the most number of shares at 15%. After the full acquisition that took place August 2007, Mainfreight Asia quickly gained momentum in the Air and Ocean sector, driving business in China and Southeast Asia. Likewise, his strongly-held beliefs relating to the importance of education and of recycling/ sustainability . "That was the start of the marina division where we got up to 60 staff eventually.". This can be incompatible with technology, which is constantly changing. You can cancel anytime with two clicks, an email or a phone call. Shares go up and down.". The lawsuit claimed that Wim Bosman, the former owner, had prior knowledge of a large client, Giant Bicycles, intentions to end corporate ties with the group. Northport is forecasting a 15 per cent lift in container traffic volume for the financial year ending June. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Other Current Directorships: Last Saturday, the picturesque $23 million ocean-front farm owned by Mainfreight boss Bruce Plested, whose wealth NBR estimated at $270m last year, was used for a family affair. As Nassim Nicholas Taleb said, 'Dont tell me what you think, tell me what you have in your portfolio. There's more to the man's generosity than this example. Bruce George Plested founded Mainfreight Ltd. 3. Mainfreight was founded in 1977 by the visionary Bruce Plested, who set out to make the company a family, a team, where everyone has a share in the riches and where the word 'management' is banned. [4] In 1998, Mainfreight acquired Australian freight forwarder ISS Express lines, subsequently establishing an Australian international freight business. This past Friday marked my final day with Mainfreight. NZ shows little interest in Australian phosphate pollution fix, Tough road ahead to reduce NZ's emissions, says Forsyth Barr, Space: Victoria University's final frontier, Reuseable bank fit-outs XFrame's next target, Radical change is needed Productivity Commission, New listings drop, house asking prices down 10%, Sustainable drinks company partners with fellow B-Corp Kiwibank to take on the world, Wellington developer Mark Dunajtschik gets award, Businesses tithing a way to support charities, Arise Church lender wants answers following damaging report, The gift of time: how your bach can change lives. Read Less Key Principal: Bruce George PLESTED See more contacts Industry: Warehousing and Storage , Freight Transportation Arrangement , Transportation and Warehousing , General warehousing and storage , Special warehousing and storage, nec Large companies usually have institutions as shareholders, and we usually see insiders owning shares in smaller companies. [16] In 2020, CaroTrans Chile was re-branded as Mainfreight Chile. The lack of enthusiasm for digital subjects may be because teachers dont have the expertise or passion for technology, and a way to solve this problem could be to have expert teachers come into the schools and teach block courses. The general public, mostly retail investors, hold a substantial 51% stake in Mainfreight, suggesting it is a fairly popular stock. But we can't rely on that fact alone since institutions make bad investments sometimes, just like everyone does. Mainfreight is a rapidly expanding international business, so there's no shortage of overseas postings on offer. Chia Sisters introduces game-changing drinks packaging taking inspiration from an unexpected sector. On March 9, Heron Construction Co sent in the 180-tonne barge Calliope, a 50m x 20m structure topped by a 150ft beam crane, able to lift the heavy gear into place at Kennedy Point. Plested is also a great reader; some of those ideas come from books. There is nothing better than having a rugby star saying I would not be an All Black if it weren't for books, says Plested. The road to the marina will be widened, improved in a strip around 200m long. And Drinkwater says that COVID-19 has changed the nature of work irrevocably by showing that working from homeor from anywhereis achievable at scale. This is a world where budgets are deemed 'bullshit'. [5] When deregulation of land transport occurred in October 1982, Mainfreight quickly took advantage of the opportunities presented and won a large share of the freight market. Its the end of the road at Mainfreight for CIO Kevin Drinkwater, who officially retires on 31 December 2020. Plested gave the charity $250,000 in 1998, which Duff used to buy shares in the company. Last period it bought $2.88m worth of them. Third year in a row Milford has been awarded the Consumer People's Choice for KiwiSaver by Consumer NZ. Clearly the two are well matched. Selwyn has worked with Plested for 41 years, since before he started Mainfreight. A year later they had nearly doubled in value to $11.10m. This risk is higher in a company without a history of growth. [7] This takeover was in response to the purchase of Tranz Rail by Australian transport firm Toll Holdings. Mainfreight was founded in 1977 by the visionary Bruce Plested, who set out to make the company a family, a team, where everyone has a share in the riches and where the word 'management' is. He is also fast-moving. This morning in assembly, we had the privilege of having two distinguished Old Boys do a panel - Peter Thompson '76, Managing Director of Barfoot & Thompson, and Bruce Plested '55, Executive . Braid says Mainfreight is a strong believer that people can make mistakes, but though Plested can be a tolerant manager, Braid says there's nothing loose about the way the business is run: "Bruce has an eye for detail.". Its a way of saying things that couldnt be said elsewhere, Plested said. He said it. The gift cost more than $4 million of his own money. He is a long-term bull on the stock and I have no issue whatsoever with his move.". This is a world where budgets are deemed 'bullshit'. Celebrating our founder, Bruce Plested's 80th Birthday at Mainfreight Warehousing Toronto! Plesteds friend Duff said they couldnt have done the Books in Homes scheme without him, from the original seeding finance to its rent-free offices in south Auckland, and Mainfreight volunteers. A "living wage" is paid, Plested has contributed to the Maori Party, and Mainfreight also sponsors a school in Otara. Mainfreight also renamed Wim Bosman branches in the countries France, Poland, Russia and Ukraine under the Mainfreight name.[12]. Richard Prebble is by profession a lawyer. Or use the information youve already given Google to create your subscription. We aim to bring you long-term focused analysis driven by fundamental data. People are given free rein and that means sometimes they make mistakes. I'm a life member of IPENZ (the Institute of Professional Engineers)," he says, referring to the old name of the now-rebranded professional body Engineering New Zealand. The marina will be open to the public during daylight hours, with access available to the main marina pier and caf. Northport, a joint venture between Port of Tauranga and Marsden Maritime Holdings, is spending $8m on container infrastructure as volumes increase. A good Samaritan. In his 35-year career, Kevin Drinkwater has seen tremendous change and many fads. When an insider holds a sizeable amount of a company's stock,. At each branch the profit and loss figures are put up on the cafeteria wall. Me Today has opened its $3.75m offer of shares to retail investors at 8.8c a share to help fund the purchase of King Honey, and Me Today's share price slipped 0.005c or 4.46 per cent to 10.7c. It's a tough venue to weave into . It has a market capitalization of NZ$6.8b. Bruce Plested. They can and probably do influence decisions on executive compensation, dividend policies and proposed business acquisitions. Last year the business had revenue of NZ$1.9 billion and expects to reach $2 billion this year. Ideas. So it went to the Court of Appeal, which also said no. Board meetings. The share sale was disclosed to the NZX today and indicated one million shares were sold from Rorohara No. From there, providing you have passion, the Mainfreight . Two sizes of cannonballs emerged, he says, possibly fired around the 1840s to 1860s when boats discharged their arsenal once they sailed into what were peaceful harbours. He has a home on Waiheke and said the marina was not in the locals' interests. Most would say this shows a good degree of alignment with shareholders, especially in a company of this size. He is also on the board of Rorohara No 2 Trust. Find out Today's top 343 Engineer jobs in Grenoble, Auvergne-Rhne-Alpes, France. In 2003 Mainfreight bought Owens Group, one of New Zealand's largest trucking firms. In April 2007, Mainfreight announced its intentions to sell its Pan Orient Project Logistics business and its 75% interest in Lep Australia and New Zealand to global logistics company Agility Group for A$83 million. Simply Wall St has no position in any stocks mentioned.Have feedback on this article? Plested continues to be an avid reader, and lately novels have been saved for plane trips, whereas Plested prefers them to in-flight movies. One of the critical areas that we need to improve on is using data to create more predictability, he says. Mainfreight was founded in 1977 by the visionary Bruce Plested, who set out to make the company a family, a team, where everyone has a share in the riches and where the word 'management' is banned. transactions overall, the S&P/NZX 50 Index drifted, closing on its low for the day at 12,518.01, down 48.49 points or 0.39 per cent. The company management answer to the board and the latter should represent the interests of shareholders. Tony recalls "what we used to call the gut boat", filled with rubbish from boats, discharging near the Rangitoto Island lighthouse. In 2001, Mainfreight's management decided that technology needed a global role, and Drinkwater became CIO. Mainfreight group managing director, Don Braid, (l) and chairman, Bruce Plested. Visit Lyon. "I went crook at Alan. It now sits at 79.3.ANZs chief economist Sharon Zollner said households were concerned about the rising cost of living, particularly those with large ANZs economists now expects house prices to fall 18% from the November 2021 peak and bottom out in June.It previously signalled they would fall 22% but noted housing market data has been stronger than expected. {{ registerForm.errors.get('password') }}, {{ registerForm.errors.get('password_confirmation') }}, {{ plans[index].attributes.old_price | currency }}, Radical change is needed Productivity Commission, New listings drop, house asking prices down 10%, Sustainable drinks company partners with fellow B-Corp Kiwibank to take on the world, Consumer confidence lifts slightly, still 'extremely low', Primary industries bear brunt of cyclone, Treasury says, Deeply researched, twice-edited and fact-checked news, Reporters in Auckland, Hamilton, Tauranga, Wellington, Christchurch and Queenstown, Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers, Access to FundSource - the deepest data on KiwiSaver and managed funds, updated daily, World news from The Economist and Bloomberg. report on analyst forecasts for the company. He was later joined by Neil Graham. [13] The transaction was completed on 6 June 2007. His career has seen him develop or be closely involved with 18 marinas including pua in the Bay of Islands, rkei, Whangamata, Bayswater, Whangaparaoa's Gulf Harbour, Bucklands Beach, Westharbour, Pine Harbour, Tutukaka, Whitianga, Wellington's Mana Marina, Shute Harbour in the Whitsundays, Townsville and Abell Point in Queensland, Fiji's Musket Cove, at Canada's Songees and Santosa Island and at Singapore's Sentosa. Yes, we are using a lot more energy and cooling, but the density of the compute has been a huge enabler., Drinkwater estimates that just 5% of its compute is in the public cloud, with 95% in servers in New Zealand, Asia, Australia, and the US. He brings strong financial skills and business acumen to the role. The Last 12 Months Of Insider Transactions At Mainfreight Notably, that recent purchase by Founding Owner & Executive Chairman Bruce Plested was not the only time they bought Mainfreight. It has been listed on the New Zealand Exchange since 1996. Our information suggests that insiders maintain a significant holding in Mainfreight Limited. Mainfreight has a policy of developing people and promoting them internally. While studying institutional ownership for a company can add value to your research, it is also a good practice to research analyst recommendations to get a deeper understand of a stock's expected performance. Together we believe that for our tamariki "Anything is Possible.". It was a Precinct's portfolio will be valued at $3.3 billion at the end of June. Other high profile residents on Waiheke include former All Blacks rugby coach Sir Graham Henry, Mainfreight transport founder Bruce Plested and New Zealand's richest man Graeme Hart, who bought . Thats why we divide the profit at the branch evenly. Let's delve deeper into each type of owner, to discover more about Mainfreight. Get started by entering your email address below. We use functional and analytical cookies on our website to offer an optimal user experience. He is fiercely proud of the Mainfreight culture seeing this as a key reason customers choose Mainfreight over the competition. The relationship has been ongoing. Get in touch with us directly. We note that hedge funds don't have a meaningful investment in Mainfreight. No matter what level you are at, people care for each other, and thats demonstrated in many ways. click here to see if those insiders have been buying or selling. It's all part of the firms celebrated Mainfreight way. NB: Figures in this article are calculated using data from the last twelve months, which refer to the 12-month period ending on the last date of the month the financial statement is dated. He recalls how he and friends would swing off ropes on to the cliffs beneath what is now the Devon Park apartment tower at Stanley Point to dig large metal object out of the banks. Photo / NZME. Plested runs the business as a series of semi-autonomous branches -- that way each employee can feel they are part of a close-knit team. Mainfreight has 9,240 employees, of which 8 are in a leadership position. Braid says Plested's vision is for the future. Property market metrics show the national average asking price is now almost $100,000 down on a year ago. Name & Title Bio. Bruce is a one-off," Duff said. Of the 186 berths, 150 are pre-sold, with deposits taken of around 20 per cent and balances due as the project reaches hallmark stages. He earlier studied science at the Victoria University of Wellington. He has also been involved in organisations outside Mainfreight, notably TUANZ when it was lobbying for a national fibre network a decade ago, and as the current chair of Duffy Books in Homes. Mainfreight International was Mainfreight's first international sea and airfreight business and was started in 1984 by Bruce Plested's brother Gerald. Founded 2,000 years ago, Lyon's streets are a living museum, with beautiful historical buildings and interesting art galleries and museums. It's the answer to poverty," says Mainfreight co-founder Bruce Plested. Its the right horses for courseswhere we have things very specific to the way we operate, then we will build it, as per our culture, in the way we do it.. The firm's Australian domestic freight and logistics division, Mainfreight Distribution, began operations in 1989, with an operation in Sydney. I love the cloud concept; I dont like the cost so we have a fraction of our compute in the cloud ,and [yet] it costs us almost as much as all the HPE equipment we have in our primary and secondary data centres..
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