a tad overdone

I think the selling went a tad over the top today.

Come Wednesday when they make a further announcement after the borad meeting I would expect a list of cost savings will be produced that will return it to profitability.

What you want to read is that this is a one off and that going forward they have a control of their project margins.

Mr McGrath looks like where the buck stops. If you are the chief Operating Officer and your pulling $450 big ones year you would imagine he would have his head on the block. We will see.

The market likes decisive action and if its sees it on Wednesday the stock should rally.

When calculating the asset backing, it is inappropiate to eliminate all the intangibles. The strength of their business name is that teh group has a number of brand names it trades under and from didferent states. Rediculous assumption to make that all businesses have no goodwill value.

It would have been useful if they had provided a breakdown of exactly where the loss is being incurred.

The poor management remark tells me someone is about to get dialled for this. That would be what the market want to see amongst a list of actions that have been made to cut costs.

Wouldn't seem to take much to turn the ship around. Quality management accounting and IT systems seems to be the bleeding obvious solution plus someones head.

Just looks like the market has overreacted to me. More a reflection of the language used in the announcement. Laying the groundwork for someone to be dialled out the door is my feeling but we will see come Wednesday