ABC Learning centres was run by Groves who just couldn't face the fact their was a credit crisis yet he still wanted to expand ABC to take over the world.
MFS was run by shonks who are now gone but they have been in a suspension since Jan this year and who knows if they will come back.
AFG....well we know the deal there....that was never going to survive in my opinion.
CNP....they were the same as ABC...95% geared and just didn't think the credit crisis would hit them even though 95% of their whole company was indebted to the banks.....I cant see CNP surviving at all.
BNB....Jim Babcock and Phil Green gone and a new guy with a 2-3 year plan to pay of 3.1 billion.
This is one dispute over some deposit a bank doesn't want to releases.
A couple of meetings over the next few days should sort it....or maybe this bank will convince all the others to end it all.
Either way...BNB is in a much safer position debt timetable wise to sirvive.
Their really does seem to be some optimism around supporting they wont let her go under.
Depends what the announcement says on monday and the meetings with the bank about this deposit but if BNB rolls out their plan to the banks and shows how they can pull it off....then BNB might be one of the only smashed company's that make a revival.
I personally have been watching like a hawk because if BNB can get the lenders on side, 25 cents will be history and in my personal opinion...she will quickly get back to $2.
If they dont get them on side...it may be the banks final act of patience running out with them and they proceed to wind them up...I am putting that option at about 10%...but a 90% survival.....and on another note...a solid 50% chance we may have seen a bottom and some good news coming holders way.
Hang in there holders. Nothing you can do now but honestly....it all could be fine or better than fine.
BNB
babcock & brown limited
