details, page-8

Sorry to be the "lets all slap ourselves on the back" party pooper, but I am not convinced. I am concerned as ever. I wish I could be as happy and content as all of you lot,

- if he could have done a deal with the banks or paid off the debt, he would have.
- the deal with the mystery 3rd party will involve fees or substantial interest or debt for equity, or dilution, or something unpalatable. People just don't hand over money without conditions attached. Doesn't happen.
- the announcement supplied only the barest essentials.


Don't call me negative or a downramper. I am playing devils advocate that's all. I want the price to go up, just as all of you do. I'm looking realistically at the facts. No use putting your head in the sand.

I concede that GMG is in no immediate threat of annihilation. But the future as a shareholder is not a bed of roses either. I think it's unlikely that the GMG sp will return to its former heights.

The facts ....
- no dividend. And probably not for a few years, till a major dent has been made in the debt. If I was CEO that's what I'd do.
- $4B in debt.
- Industrial warehousing has a significant vacancy rate. I don't know about you guys, but I see Goodman properties for lease all over Sydney, and they have been like this for years. I drive past a Goodman technology/industrial park every day on the way to work. For lease sign on the outside and every second property in the street has a for lease sign on it. More industrial units being built in the area as well. This has to put downwards pressure on rentals.