class action coming, page-22

Lets also not forget these were sold as " education savers " ..put the kids though secondary college stuff ..on a 10 year plan , what a joke that now is .

The marketing , which I have kept since my first investment ( August 1997 ) , is now quite amusing . Also , dont forget they paid out 5.5% compounding on the project previous to 1998 ( 97/96 ) . So who actually paid this funds ? It does not appear to a true return ..a " topped up " guarantee by the looks .

Also dont forget there are many many SMSF s invested in MIS with GTP . What of these people ? who were trying to time the investment for retirement .

Personal circumstances can change a lot , and 2008 has ended a horror year for me , tumbling from a rather sizable portfolio of property , and shares .. had to sell the houses , and just left with principle residence which now has a thumping mortgage , am holding cash but not enough to close out the mortgage , no BMWs now ..just a new Hyundai , but the money I have invested in MIS has become important , and its quite a bit involved ..

Anyhow , Ive paid out all debt ( except PP residence mortgage ) , no leases ..but Ive also had to go working for someone else and that tough .

Im only mentioning all this , in that its certainly relevant to these guys who have pulled so mighty money out of this company , not just those listed in the Annual report , a few consultants out there who have been riding the gravy train as well .

I was always saying ( I still think correctly ) , that it all came down to the projects ( GTP/TIM ) , I did believe that the projects would produce ( well certainly timber ) , If the projects didnt work ..all would fall around , like a house of cards , and here we are 10 years down the track from a major GTP project ( 1998 ) and look at what we have ! ..not much . Commissions paid , not just 10 % ..but potentially more when you take into account marketing allowances ..not good .

One senses ..that this has only just begun .




please note : the above is opinion only , please seek independent advice when making financial decisions . I am NOT a financial advisor .The position declared as " held " is only the position of a GTP grower , or investor ..Not as a shareholder .