The Madison group has an interesting web site.
I knew the Silverdale lands went back a long time.
It speaks to patience. 55 years is a heck of a lot of waiting for Silverdale.
The origins of Madison Group date back to 1967 when, as teenagers, founding shareholders Sam Grippo, Sam Joe and Ray Nakatsu purchased acreage in Mission, BC, setting the stage for a career in identifying valuable investment opportunities, taking some calculated risks and having a long-term view to create value.
There has been a fair bit of back and forth regarding ethics and the possibility of self dealing.
The greatest being a stink bid going private or bonuses from the JV. Madison speaks to values and ethics.
Live our values founded in a partnership culture where we strive to leave the Madison Group in a better place than where we found it:
Integrity and respect
Act like owners & entrepreneurs
Team approach in all we do
Unselfish leadership that leads by example
Value creation through innovation and creativity
Encourage and support our people to grow professionally and take some risks
I have an adult autistic son. Long term planning has been a concern.
I bought more voting shares today. I essentially have turned into a semi market maker. Constantly bidding for shares.
My thought is this, the land bank JV should take 20 years. The co. owns property with 1967 costs.
So, simply, land sales will be significantly free cash.
I cannot guess cycles, there will be a lot of them. We do have lower mainland in migration as the tailwind. I imagine the JV will be spinning free cash on top of the significant existing portfolio returns.
I take the leap, and hope mgt. sticks to their values. My son ends up with long term growth with a fairly low risk profile that does not need additional thought.
The origins of MadisonThe origins of Madison Group date back to 1967 when, as teenagers, founding shareholders Sam Grippo, Sam Joe and Ray Nakatsu purchased acreage in Mission, BC, setting the stage for a career in identifying valuable investment opportunities, taking some calculated risks and having a long-term view to create value.Group date back to 1967 when, as teenagers, founding shaThe origins of Madison Group date back to 1967 when, as teenagers, founding shareholders Sam Grippo, Sam Joe and Ray Nakatsu purchased acreage in Mission, BC, setting the stage for a career in identifying valuable investment opportunities, taking some calculated risks and having a long-term view to create value.reholders Sam Grippo, Sam Joe and Ray Nakatsu purchased acreage in Mission, BC, setting the stage for a career in identifying valuable investment opportunities, taking some calculated risks and having a long-term view to create value.