lay off the sauce and the cubans, page-13

roger....



please enlighten me what unfortunate act happened to Centro?


They are a victim of their own greed. I am amazed by people like you, actually, that defend Centro yet despise the banks.

Without the banks Centro would not have acquired their empire. Unfortunately their own greed and thinking that property prices would go up forever will likely be their undoing as well. Don't blame the banks, blame management and their 'she'll be right' attitude. Anybody can max out their credit card and 5 other cards thinking 'eh, I'll worry about paying back later'.

It's like anybody taking on huge debt to buy 10 houses and renting them out. hardly takes a genius in a property bull market. But then they should blame the banks when the property market tanks?

Like ABC Learning Centro got too greedy for their own good.
Amazing that you think a company which has racked up such mountain of debt is not 100% to blame for the predicament they are in.

Hope it works out for you Centro holders but don't blame the banks if they pull the pin. Blame Centro management that it even had to come to these equity/debt swap and/or debt extension discussions.

Where was the risk management? How much salary did management pay themselves to be reckless?