afr story, page-3

Hi Bonza

Sorry to rain down on your party.

Elders would have a future if they had not hired a 70's man. Refer to my previous posts. This type of management failed in the 70's 80's 90's and it will fail now.

Also don't forget that this company did a one for 10 consolidation. (The primary aim of this was so this guy could brag after a couple of years how he got the earnings per share up.) Unfortunately for him, the market is no longer dumb. As I have stated before, history shows that when a share is consolidated, it will drift back towards its pre consolidation price. in other words it will head back towards $0.15. There are some real assets in Elders which should hold the share up around $0.80, but right now morale within the company is shot. It is a downward spiral. Employees not happy, the financial fraternity think this is one of the worst manager on the scene, where is salvation going to come from?

Mind you, there is always the chance that QBE will force the issue.

Regards


Pear



Pear