laughable, page-10

barnsty. The fundamental (and important) difference between WOR and LEI is:
WOR don't own much hardware. They don't invest in property large machinary etc. They have engineers (on extreme charge out rates) and computers. They sell their intellectual ability to design and manage the construction large projects. Their recent focus is offshore petroleum production and recently bought a company with equipment to drill offshore. Advantage for WOR is flexibility. If downturn hits they can cut their main overhead (wages) immediately. Soon they will have to cut their salaries as competitors will undercut them. Have good reputation but expensive. WOR have lost work in projcts worth well over 20 Billion in past few months. Yet they never mention this. Very vulnerable to more cancellations but they can cut overheads simultaneously. Expect a strong Q2 report next month but downgraded outlook.

LEI: also design and construct large projects. They also sign long term contraacts to manage production. Often machinery belonging to LEI is used to produce the coal, copper etc. LEI have great ability to win large pvt and govt contracts here in Oz. their mistake was to get into residential proprty devel via Devine in Brisbane and will not get sustainable work from Dubai as cash runs out. LEI have also got snared into losses on tunnels in Sydney and elsewhere.Wish they would just build them and not invest a cent. Another worry is German company owns 55% and may go bust. Everything in Deustchland is going bust.

This is very basic/simplistic outline/comparison. LEI are also very flexible and employ many staff on contracts so can also cut costs quickly.

Which is the better buy? Lots to consider but feel currency risks/more Aussie govt expr make LEI safer buy.
WOR will boom again when oil price goes back above $75.