Owenb79, I agree. I don't think our management are perfect. When...

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Awoonga

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27/03/15

21:40

Post #: 14995907
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Originally posted by Owenb79 ↑

I think this process will be quite humbling for the directors of this company. They have spent their entire career, spending other peoples money. Now they have their own company and the money must feel like theirs. They are being prudent. In the past they may have had kpi's and a deadline to bring the project online. I could imagine them spending a few $100mil to achieve this for a $10,000 bonus. That's all been thrown out and they are doing it their own time thinking that a few savings here and there will please shareholders. Maybe the banks have asked them to cut some fat and spread the risk. TP might have had plans to carve the filtration unit out of one giant lump of steel after work on his own and the bank has said, "Leave it to the professionals, that decision is prudent". There are some people that are good at designing stuff and others that make stuff happen and then those that put together the deals that get the money for the designers and people that make stuff happen. I personally think that they aren't very good at every aspect required to get this show on the road and any reason for any delay may be too personal and they have beat themselves up enough. I may be 100% wrong and would like to check this out at the AGM.

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Owenb79,

I agree. I don't think our management are perfect. When you get to my age I have a resume that says I've "built" several $1 billion dollar projects. Common sense says that on any project I was one of many hundreds and didn't really have that much input.
Despite all the glowing history of our directors, how many have actually undertaken what AVB is doing right now? It would be a safe bet to say none have.
As for KPI's you might find in the latest Annual Report that our illustrious management are now looking into this seeing that we are now progressing to a producer. I could say that at least they have their priorities right but that would be cynical wouldn't it?

AVB Price at posting: 7.0¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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