Ann: Trading Update, Cost Initiatives & Sydney Strategic Review, page-32

HI All,

In my view Robbie Cooke is a very smart operator. By this announcement, and if you read AFR a few days back it all makes sense

1) AFR reports that treasury is looking into the tax

2) SGR reports a dismal report. Moreover cuts jobs

I am pretty sure the government was told about the dismal trading conditions and Staff being chopped prior to this announcement. Link the two together, and you can make out Robbie Cooke is forcing the governments hands on this.

As a new government the last thing you want is job losses, because of their policies

Moreover once you have government settled, I reckon private Equity will come swooping in, the conditions are right. They dont get better then this for a take over