Nice to finally hear something from this company. Pity it is all...

Nice to finally hear something from this company. Pity it is all bluster and bovine scat.

> Key achievement #1: profit down 10%

...but it would have been up 10% if we hadn't had expenses.

Gimme a break.

> Buffet Club "Development of Callcenters" = "in discussions to outsource".

If I go to a Telstra shop and talk to them about buying an iPhone, can I put "developed smartphone" on my CV?

SmartPASS float growth and card sales is flattening out, or maybe worse, but we can't tell because the latest data Abotomy deigns to provide is from 2010. We are 11 months into 2011! If they aren't giving us an up to date *update* it can only be because they are ashamed of it, and they think shareholders are too stupid to notice, (or better off not knowing).

$200,000 to get UBS to do a "strategic review"? What is the point of paying management so well if they just outsource their responsibilities? What magic insight can UBS provide?

If UBS have a better idea of the way forward than the current management, then we need new management with relevant skills and experience.

> Strategic Focus *Moving Forward*

So glad they have worked out that a Strategic Focus involves the future. What a shame their idea of strategy, even after paying UBS $200,000 to buy a clue, is "Continue..."

Not happy.

This looks like the right company at the right time with the wrong management. I don't mind management making the odd mistake or misstep, but I do mind being misled and treated like a mentally challenged mushroom.

Best hope at this point is a boardroom and management renewal, or being bought out by someone with a clue.