having a laugh, page-10

Good article from business spectator by Robert Gottliebsen:



Why are the banks being so 'unbank-like' with the Centro group and giving Centro Properties and Centro Retail time to sort themselves out?

If you were looking at an equity-style asset class that would be a good cash generating performer during tough global times, high on the list would be small food-based shopping centres. Shopping centres that have a high proportion of discretionary spend, like those owned by Westfield in the US, carry higher risk.

Centro has the world's largest collection of these smaller-style centres and also has the management expertise to run them. As a result, Centro has received considerable interest in its centres, especially those in Australia. The credit crunch in the US makes 2008 a bad year to be selling any American property.