The Greens can hardly be blamed for GNS management electing to pay way over the odds for Elders sawmills, Auspine estate and mills and the FEA sawmill. And to continue to invest squillions of investors $ in the pulp mill when it was anything but certain.
None of those decisions had anything to do with Christine Milne, and the result of those decisions had everything to do with having too much debt when the market cycle turned.
The market cycle always turns. Well managed companies survive that to live another day.
And companies with too much debt and not enough cash always end up in recievership.
Hardly surprising. Definitately disappointing.
Gay and L'Strange and their Senior Management Team made all the decisions that killed this company.
GNS Price at posting:
16.0¢ Sentiment: None Disclosure: Not Held
