well the mkt opened lower then recovered to well above...

well the mkt opened lower then recovered to well above yesterday's close as AGM speech was put online. has since fallen to be unchanged. BBG emphasise they are vulnerable to any further rise in AUD and quantify (good on them) effect each 1c rise has on earnings. This transparency is very welcome. BBG state margins are hard to maintain and sales esp in USA are slow.... but are taking a med. and long term view to sacrifice sales now... in order to protect the brand image. If you believe recession in most countries has bottomed then BBG could be a long term proposition. If you feel (like me) that consumers (esp. in USA) will refrain from discretionary spending... then BBG will struggle to meet flat forecast.