Stocks I’m Glad I Never Bought

PGW – PGG Wrightson.

Formed by a merger between PGG and Wrightson, two of NZ’s largest farm supplies chains.

The Hearld noted in the weekend that their market share of stock sales had fallen in Otago.

Gee, Y’think?

PGG and Wrightson were at one time pretty much the only companies doing stock sales in Otago. What happens when you merge the only two outfits in town? Competitors setup.


When Price Waterhouse and Coopers & Lybrand merged in 1998 to form PricewaterhouseCoopers they lost massive amounts of business thanks to the business they had to drop as conflicts of interest arose. (You can’t be accountant for Burger King and McDonalds, so you have to let one go.)

Remember AOL Time Warner?

Bad news, these mergers.

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