i do not support bank bashing
Happy banks mean generally prosperous times for us small businees people
over the years i have Read all the good business books
Sykes ...neil chenoworths Packers Lunch ..which was a laugh a page Neil writes for the Fin Review and has an outstanding turn of phrase
anyway pack to the point
this thing has me utterly stumped
Here was a division of a division that had $1.5 to $2.5bn out earning only $8-$10m pa
This could cost $55m Chimeara, $30m Tricom and possibly $400m at Opes
if the agreements ,paperwork etc etc is as shoddy as i suspect
Risking $485m to earn $10m sounds just dumb
and not all these guys are stupid..i am sure there are some very fine bankers somewhere in the house of ANZ
shame anz shame, page-14
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