Just received the 4 page BGP News. The document is very upbeat and celebrates BGP's successful sale of some of their problem properties...sounds good!
Sold a property for 300m pounds, buyer takes on all outstanding debt and pays transaction costs...sounds good!
BGP did not achieve an economic return...huh...thanks for getting my hopes up.
But the next line is a beauty:
"THE SALE ENABLED MANAGEMENT TO REFOCUS ON PORTFOLIOS WITH HIGHER POTENTIAL"
This has got to be one of the most pathetic marketing lines I have read during the GFC. So the glass is empty, and they tell you its full...who writes this crap!
Do we have an opportunity to vote these guys out?
GPT Price at posting:
$2.78 Sentiment: None Disclosure: Held
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