Hi mac, Keep digging, maintain the rage, take no prisoners.......

Hi mac,

Keep digging, maintain the rage, take no prisoners....

The SI purchase was a commercial disaster which should have been evident prior to purchase considering the cost, debt, port expansion and associated contracts. Arrium management wanted to purchase and expand the Port, not matter the risk and cost. Just doesn't pass the corporate governance smell test, Robert(stick in a fork in ARI it's done) Bakewell may have to explain how he got the numbers to add up after the DD.

Understand Smedley can't be contacted after originally giving a no comment, Plummer just no comment and sits down to look out to the ocean from his mansion at Palm Beach. Plenty of legal advice being sought by all at the moment I would assume.

Roberts and Maycock have potentially worked out the UBS Lazard advice wasn't all that great, although the stand off with the lenders has finished for the moment. I got no sympathy for Roberts, just a ladder climbing corporate nuffie. Maycock was handed a dog by Smedley, if Maycock was in place three years ago it may not have got to this stage.

One thing for sure, everyone will learn plenty from this debacle including stock buyers.