No fault of management??????, so sorry they are the captains of...

No fault of management??????, so sorry they are the captains of the ship,buck stops with them, the crew do what they are told. Actually been seen and not speak.

The board could of averted this downturn, which has been a long time coming. I do feel for CEO Paul O'Malley, he inherited the previous CEO's Mr Kirby Adams's bad decisions, of which manifested themselves down the line years later, and we are at this point now.

They could of seen the high dollar coming,on the back of Aust booming resource Oil/Gas industry, and hedged each way.

Collapsing USD of which sends up other currencies.
You wonder where they got their forex advice from??

Could of bought valuable assests, such as key steel maling ingredients iron ore, soft coking coal mines, limestone.

Everything is contracted out - o.k in good times, but huge expenses in a down turn.

They always give these great statements at state of the union,(i.e business update meetings and general big gee up pep talks), such as we need to be pro-active not reactive of which they are scrambling around and doing that very thing right now, like chooks with no heads.

They should of invested in some other relevant business, or non core businesses for when the core steel manufacturing business faces down turns.

Seen this in the 1982-1983 down turn, when they had a lot of fat to trim, but now they have not much to cut.

One must wonder how they made money in the 1980's we there were 23,000 employess to pay - all company employees and not including contractors for bigger jobs. Now they have, approx 6000 at port kembla, and with all the so called effiencies throughout the years till now, are in big trouble with the world being a much bigger place.

hope it all turns around, but there is a lot of pain till that time comes around, i.e first industry into and last out of recession such as the steel and manufacturing industry is.

lucky they have a buoyant Asian division, (whilst its going good), otherwise good night.

BSL may be around till it needs to pay the carbon tax in 4 years time.

Can smell a cap raising (at non ideal SP price levels), or a friendly / not so friendly takeover soon.

Book value of business is approx $2.5 Billion dollars