watched the meeting this morning; a few thoughts: - Rick Ratliff...

watched the meeting this morning; a few thoughts:
- Rick Ratliff comes across well and seems knowledgeable about the US business and less so on the ANZ/UK offering (which also makes sense given the importance of the US business)
- looks like minimal programs in Aus which is why revenues are flat
- did say that integration and rollout going to plan (as opposed to going well), but perhaps does not want to mis-represent the situation if not familiar
- reassured that he was talking about pricing and profitability (including looking at Aus prices which I've always thought was mispriced given the value it adds)
. US transitioning to more digital platforms will also help improve margins and they need all that improvement they can get to get this to a cashflow positive position

Looks like he still has some work to do by end of Nov (AGM) to get up to speed with all the components, but my expectation is they really need to focus on a cashflow positive position rather than just hope deals/revenues will come = > they don't have a lot of room to move, so need to focus on that key area and my sense is that Rick seems to understand this more than his predecesor