WOW's Revalation, page-43

Glad you have very modest near-term expectations, because it's going to be a long turnaround.

For starters, the strategy to get to where the company needs to be has not even been articulated.

And the people who are going to preside over any such strategy aren't even on board yet...they still need to be hired!

And once the new CEO is recruited and it will take him several more months to bring on board his "change agents", and then it will take them 6 months to figure out what is wrong and how they are going to go about fixing it, and then it will take them another 6 months to implement it, and then it will a be further 18 to 24 months before the first signs of success become evident.

Add all that up and we get to sometime in 2018.

But of course, the market is a lat smarter than waiting for the evidence of any turnaround.

Once the strategy is articulated and explained (which will probably sometime around the middle of next year), investors will commit themselves to a view as to whether it will work

Until then the stock will do nothing other than mark time, I think.

Unless, of course, some other clever guys with a really big balance sheet decide to get in first and execute the turnaround, thereby keeping the upside all for themselves.

After all, that's what happened to Coles.

And heaven knows, WOW has a vast array of decent-quality assets that could be considered non-core that could be easily liquidated to fund the inevitable investment required for the turnaround.

As for persisting with Masters, I think that to throw good money after bad is exactly the thing they should not be doing. It looks to me like the entire thing is a flawed concept.

Better they shed it, even if it means selling it for a dollar.

But, given that the company's new leaders are not yet on board, the final destiny for Masters will not be known for months to come.