There's so much going downwards these days. Despite making record profits, (just look at QBE, unbelievable price reaction to an announcement then another downer post dividend date).
I don't think much has changed with ARR unless an announcement does come through, but more probable/realistic thinking would point towards the volatility that is around because of the credit crunch is haunting the share market a lot. Debt is a bad thing these days. Wasn't long ago the likes of KKR and Allco dishing it up big to buy out Qantas and other big purchase deals were ok, based on big borrowings from cheap available credit.
I am looking forward to the news from the JV with ZTEI later in the year. Yes ARR from recent reports is earning and that's a good thing too. What a shame it's all spooky out there right now.
