4 new nsx announcements, page-7

Thanks Seamisty. Well it's certainly seems very difficult and possibly dangerous to be guided by WC. So on the one hand WC's associate director Caroline Snow is saying "... than it was when the Premium Income Fund became mortgagee in possession.". And then WC puts out a market release that says "Perpetual Nominees Limited ... has become mortgagee in possession of the primary security, being real property over which it holds a first mortgage under the loan arrangements."

Seems like WC is using Perpetual like a shield to hide behind from criticism of the management of the underlying properties. I wonder how Perpetual feel about that?

So Hutson and WC are persisting with the good ol' avoid answering the questions. WC "does not agree with the quote attributed to Mr Bailey,". Just disagree with everything. Our Hutson pulled the same trick when her WC's change of the PIF Constitution was found to be illegal. From Courier Mail 21/6/2011 "Wellington managing director Jenny Hutson described the decision as "disappointing" and disagreed with the
court's interpretation of how a fund manager can implement changes to a constitution without adversely affecting
investor rights."

If we can't come back with a follow up question as to why they disagree then Hutson/WC has dodged the question. Play the 24hr news cycle and short and limited attention of the target audience.

Gillard does a similar thing with that "I don't agree with that characterisation of ..."

How about they all start playing the ball and not the man. Hutson's WC would have a much easier and probably profitable ride if they just delivered. I wonder what promises WC staff are being made.