USA JOBS DATA - THE ECONOMY IS RECOVERING, page-18

Hi Fortius,

Thanks for your comments. I will attempt to answer your questions asap.

Like everybody else posting on this forum, I am concerned for the future.

As for the US employment situation, I intend looking at some more of the commentary on this tonight (several different sources) and will attempt to post their rationalised views on this tomorrow (whether good or bad).

I also intend researching your inventory /manufacturing linked question and see whether this can be explained away through overbuilt inventory levels through 2001.

I will, therefore, get back to you asap.

As for the Hart's case, you have posted the story that I read this morning in the AFR. I now intend reading the case itself to ascertain the implications. Alternatively, I may end up speaking directly with Gadens (one of the firms I use regularly in business) for some further insight on the matter.

Of immediate interest though is whether split loan facilities are really something which is used by the established banks, or by the NBFI's (finance companies, mortgage originators, syndicated finance agents, etc). I suspect the latter, but no doubt the former will soon get in on the act if there is a buck to be made out there.

In saying this though, we should also be mindful of Ridge's observations. The property market is clearly showing signs of overheating in a number of areas, and in the luxury market end (previously circa anything above $1000 -$1200+pw), clear problems are emerging.