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To harlee and westsoil,

Did BHP want to lose money with Magma? Have there ever been a circumstance where a chairman and his directors have made a decision led to the detriment of a company. How many company that start eventually wind up? How many companies that start wanting to list on the ASX actually end up listing?

Lets see AMP lost a lot of money in the UK and eventually got out. NAB lost money with Homeside Bank in the US and lost money. Time Warner and AOL merged in the most over-priced merger in history to the detriment of Time Warner shareholders. I can go on and on...

I understand the chairman believes that he is doing the best thing. Unfortunately as a lot of chairmans and directors can tell you they don't always work. Margaret Jackson - Qantas, Bob Browning - Alinta. people these days investing have this blind faith in company directors that have increased their capital gains. You sometimes need to analyse the deals done and reassess to keep those capital gains.