just remarkable that they still don't get it over at Asciano - a business as usual plea in the face of mounting problems just highlights their inability to face up to the reality of their situation
their abysmal record speaks for itself, believing that 7x debt was a prudent capital structure to operate the business, an insane tilt at Brambles at the behest of their buddies at Macquarie and now dressing up a capital raising as a "monetisation" plan to fund growth just continues to highlight a lack of judgment and a failure to appreciate the errors they have made, and now the hide to defer the dividend and dress it up like they are doing shareholders a favour, luckily the market has seen through the shenanigans and are questioning the value of the buisness net of the massive debt
great assets but with a slowing global economy, is an export/import dependant business with a mountain of debt the place to be? just check out the carnage on the Baltic Dry Index
AIO Price at posting:
55.2¢ Sentiment: None Disclosure: Not Held
