Ann: Melbourne Distribution Centre Update, page-2

As you guys are aware I am always a glass half full type of guy when it comes to TRS.

However, I got to be honest I hate new Distribution Centres- especially if they come with new software and new 3rd party operators. I have been involved in two and both were disasters in the short term (operations significantly larger than TRS). $7.3m in redundancies also looks like a hell of a lot to me. I have sold a few shares today and will top up on the dips ($12 - $10). This has the potential to be a huge cock up with minimal upside over the investment case. Also huge distraction for mgt. A brave call and I hope they have the people to make it happen.