Looks like Goldman Sachs wasn't impressed with being left out...

Looks like Goldman Sachs wasn't impressed with being left out either and demanded their own briefing. Is this the start or the end or the start of the end of maybe just the end of it.

This time ELD issues the presso before/during/after the briefing given this was lodged at 8:51 this morning..no matter it was prior to morning call so everyone got fair warning, this time.

Non-institutional folk will never find out what the briefing setting was like, what the temperament of the audience was, what the questions and answers and how confident the company representatives were in their delivery especially when replying to "without notice" and "ad-hoc" questions from the floor during or after the session. Being face to face often discovers more than receiving the briefing documents ever does or evenbeing part of a video conference session.

However as we all sit on the outside of that cloistered and privileged world from the last century we can only guess and take the briefing document at face value and analyse it to death to join the dots and or find the real truth.

As a side but important issue. Maybe this should be the start of start...and here is why

The ASX is currently getting its own dressing down over the CHESS replacement program but it's issue run far deeper than a technology replacement and maybe the dressing down should embrace a far wider and deeper mandate including how the markets operate and engage and what exaclty is the ASX role in market management. Did ELD do anything wrong or did it just do what everybody else has been doing since the last century when there was less retail investors and mainly sharebrokers and professional traders and ELD got caught out by actually owning up to an ASX query on a share price decline rather than an equivalent incline.

The Corporations Act and the ASX Listing Rules are, for the most part, clear about what companies are required to meet in order to retain a listing as well as market conduct. Does and should the ASX retain the dominating market management role or should it return to an independent entity that carries both more weight and credibility in performing the role as well as delegated regulatory power that can actually hold members of the ASX and companies listed on the ASX to account and just let the ASX be the market platform.

My view is ELD failed in its duty to shareholders but the current system allowed it happen.