Can you add some more colour to your “secret bait and switch”...

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friendlydwarves

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09/04/24

22:33

Post #: 73266488
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Originally posted by Chevelle67: ↑

Russ, I can't get to Melbourne for the expo but will take a rain check on that beer. AMA not exhibiting so no one going to be there for me to harass anyway.

I appreciate that you think Matt should focus more on the future than on the past, which makes sense generally, but I actually think that AMA has little future if Matt does not hold Suncorp to account for the immense damage done to AMA during the secret bait & switch on the CapitalSmart contract in April 2020. So I don't think the past can be forgetten and we all move on happily.

Suncorp has seen to it that AMA gets only enough pricing to keep it breathing but just barely. No free cash flow. Now AMA needs to refinance and needs Suncorp to step up massively to help. Suncorp probably won't (if last year is any indication), and will likely try to buy CapitalSmart back out of bankrutpcy. Unless Matt and AMA sue them first.

AMA paid $400 mil. to Suncorp, and Suncorp essential stole that money from AMA because they did not deliver what they promised, what that money paid for. That money is $0.22 per share to AMA, more than 4x the current price.

AMA should sue Suncorp and their CEO Steve Johnston for not just the $400 mil. but for the additional $50 mil. in losses AMA incurred by fixing Suncorp's cars at a loss since that secret gutting of the original deal in April 2020. So that's $450 mil. in identifiable damages.

I really think that's the only way AMA can get what it deserves from Suncorp. Otherwise it will be just like last year, where Carl could only get a small bump in prices beginning July 1. 2023, but not enough to fix the gaping hole in AMA's margins vs. historical norms.

Insanity is doing the same thing over and over but expecting different results. AMA has to get much more aggressive. Suncorp has proven it's not their partner, it's a parasite.

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Can you add some more colour to your “secret bait and switch” reference? What are you saying happened?

AMA Price at posting: 5.3¢ Sentiment: None Disclosure: Not Held
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