Oz Alert: Shrewd businessmen immigrating

If you happen to bump into Bob Bangerter (left) or his fellow Blue Chip founder Mark Bryers (below) say hello for me.

I take Bob at his word: He is not, as some media outlets portray him, a rich old fiddler.

As far as the former lawyer Bob Bryers is concerned, a conviction for drunk driving (see Blue Chip’ Bryers blows the bag) and a divorce (see Blue Chip investors’ hopes fade) don’t seem to be slowing him down a bit.

It appears that Bryers is back in the real estate/franchising saddle but this time working full-time in Sydney, AU after becoming less popular in New Zealand (2,000 unhappy investors, $80-million losses).

Sydney property investment company Barkley Walsh says it is a subsidiary of ASX-listed Northern Crest Investments. Northern Crest was previously called Blue Chip Financial Solutions and is the parent company of many of the Blue Chip-related companies in liquidation in this country. Trading in its shares has been suspended since February.

To understand how franchising can be used to market over-priced assets AND dodge tiresome old real estate regulations, I recommend a very instructive article on http://www.stuff.co.nz called The Blue Chip Scandal: the valuations process.

Perfectly legal, I assure you.

Meanwhile back at the scene of the non-crime, the NZ Commerce Minister (a lawyer) continues to demean her office by publicly begging bottom-feeding finance companies to not collect on their perfectly legal Blue Chip mortgages.

This time on national radio.

BTW:

  1. Businesspeople will do what they can get away with to make a buck. That’s their job. If they don’t, they deserve to be fired.
  2. Everything is legal unless there is a specific statute to say it is illegal.
  3. The politicians’ job is to make sure legislation and enforcement are there so thousands are not impoverished by “aggressive capitalists”.

Don’t blame a leopard for having spots (see #1), fall for any excuse du jour why laws were castrated (see #2) or be confused as to the duty of this cabinet to its electorate (see #3).

This isn’t complicated, folks: A franchisor corporation is created. They recruit unsuspecting franchisees who are the only ones legally responsible for selling into a real estate bubble. The franchise system takes in the money and rapidly moves it to a related company. The franchise system (mask) is then killed off to sever legal liability to the principals and the cash.

SOP (standard operating procedure) in franchising, all around the world.

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One Response to Oz Alert: Shrewd businessmen immigrating

  1. Jessey Smith says:

    I bumped into Bob Bangerter last week.

    I saw him in the office of “Vault Group Limited”.
    32 Market Place, Viaduct Harbour, Auckland
    http://www.vaultrealty.com

    I hope all the victims of Blue Chip would eventually get their money back.

    Like

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