absolutely rooted, page-8

Hmmm... the FTSE is such that another 'bail-out' of UK operations probably on the cards or risk insolvency for the second time in months.

Late last year AMP despatched $800million top-up with guarantees of more to come.

It is worth remembering the Paul (magic-numbers)Batchelor reported a 7% profit ($64million) for UK division and 6 weeks later Andrew Mohl declares a $1.4billion write-down and fires 1900 employees ...

AFR reported the other day that AMP "UK business is probably worth nothing.."

The recent $900million loss is just another episode in the sorry saga.

The current situation is dire because previous suitors have organised entries into wealth management for themselves ... meaning AMP is soon to lose critical mass.

AMP was a monopolistic dinosaur and powerful predator in a tightly regulated market prior to demutualisation which was it's deathnell ... like most predators AMP just thought the ''ol' boy network" game would continue as before ...

Some lessons don't come easily ... and as always the shareholders do the ultimate paying ...


This is only my view ... read the red stuff.