re: bloodbath / sabre Todays announcement does nothing for the...

re: bloodbath / sabre Todays announcement does nothing for the confidence. The sentence that states 'There are a number of significant interrelated issues under review, the resolution of which may further impact the final earnings outlook for 2004/05.'

Sounds to me like there'll be a few downgrades over the next year or so. Don't know how much debt they've got but I'd expect some heavy pressure to come on the shares particularly if you look at the shareholder announcements over the last six months. A few have topped up and far higher prices, eg. Franklin Resources, Portfolio Partners and Schroeder.