Thanks Kerry for this letter. You are right. People have to wake up and look at what is going on. Is the pandemic an issue because of the USA’s coming election — because they don’t know how to beat Trump? And I don’t know where to start with us and the Trudeau mafia stealing money from the people and making so many bad decisions with our money and the lockdown for what? A bad flu? And why is Trudeau still there after being caught so many times filling up his pockets and his friends’? I can’t wait for our election, and hopefully the Trudeau gang will not find a way to be re-elected but lose by a lot. Guy Lussier Hi Guy, I think it is very concerning to see in the States that the conversation has turned strongly toward the topic of stealing elections and rigging ballots. To me, that strikes at the very foundation of freedom. I hope they can figure it out. Stalin allegedly said, it does not matter who votes. What matters is who COUNTS the votes. — kk
Wood products solidarity
Letter on the Wood Industry US August 2020 e-letter, posted at woodindustryus.com Love reading your articles from down-under, although I see some of your colleagues in street interviews don’t know where that is. Seriouly, when Americans can’t even find America on a map, you have to ask, “what the hell is going on over there?” Its likely we have people like that in Australia. Lots of opinion based on media hype and nothing else, which brings me to your point on research, does anybody take the time now or do they take all their ‘facts’ from CNN and MSNBC? I mix my CNN up with FOX and somewhere in there is the truth, leaning mostly to FOX as the more meaningful source. If American politics is weird now (and it is) imagine how much weirder it will be with sleepy Joe in power (whatever that means). Philip Ashley
Filings WOOD Flashing yellow A quick check about Homag with Simply Wall St. revealed some cautions in its February 10, 2020 report. This website, directed at investors, not manufacturers, notes that a primary reason for investing in Homag has been that it pays a dividend. However, the site reports:
Homag Group has been paying dividends for a long time, but for the purpose of this analysis, we only examine the past 10 years of payments. This dividend has been unstable, which we define as having been cut one or more times over this time. During the past 10-year period, the first annual payment was €0.30 in 2010, compared to €0.40 last year. This works out to be a compound annual growth rate (CAGR) of approximately 2.9% a year over that time. The growth in dividends has not been linear, but the CAGR is a decent approximation of the rate of change over this time frame. It’s good to see some dividend growth, but the dividend has been cut at least once, and the
size of the cut would eliminate most of the growth, anyway. We’re not that enthused by this. Given that the dividend has been cut in the past, we need to check if earnings are growing and if that might lead to stronger dividends in the future. Over the past five years, it looks as though Homag Group’s EPS have declined at around 100 percent a year. With this kind of significant decline, we always wonder what has changed in the business. Dividends are about stability, and Homag Group’s earnings per share, which support the dividend, have been anything but stable. … When we look at a dividend stock, we need to form a judgement on whether the dividend will grow, if the company is able to maintain it in a wide range of economic circumstances, and if the dividend payout is sustainable. We’re glad to see Homag Group has a low payout ratio, as this suggests earnings are being reinvested in the business. Second, earnings per share have
Tips on design
Thanks to those that appreciated our profile in March with Yuill McGregor and North on Sixty. McGregor requested the use of one of our profile photos to incorporate on his website. Here is the front page, not so much to see the photo, but to see what a website can look like. It’s your new reception desk and the first i mpression most of your clients see. — Editor
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INDUSTRY 11 WOODINDUSTRY WOOD
