I bet newsagents have not heard of the Swish group. This public company, SWG on the ASX, claims newsagencies as part of their retail signage network – see their May 2008 shareholder update. Bill Express announced an agreement with Swish on April 28, giving Swish control of the advertising screens in newsagencies. In February, Bill Express removed the $210 a month rebate which it had reviously guaranteed to pay newsagents in return for having the screen in their stores.
I wonder if Swish needs to make an announcement to the ASX about the Bill Express situation. I hear that many screens in newsagencies do not work and that where they do, many newsagents have them turned off because of their issues with Bill Express. I do not plan to turn my screens on until Bill Express addresses my concerns over their breach of agreement relating to the “guaranteed” $210 a month they would pay per store. Not that it matters in one of my newsagencies as the screen has not worked for months.
So what do BXP actually own I don’t think they own my Newsagency YET!
When they do fall over what assets have they got left to sell?
THEY WON’T FALL OVER WE ARE FUNDING THERE COMEBACK