Bionic Boy
If you read what is going on with UBS...see article below...and put this together with the 'smart arse'comment that King made at the AGM last November ... “Yep, they’ve lent us $800 million. Too bad if they couldn’t syndicate it but that’s their problem and I wish they’d given me better tips when they hosted me at the races on Saturday.”
and
Headline in SMH 30 Jan 08
Swiss banking giant UBS plunges into 3.5 bln dlr loss in 2007
http://news.smh.com.au/swiss-banking-giant-ubs-
put those two together with a plunging share price, a CEO that has resigned, short term debt which has now grown to around $400 mil with MFS DT and any lender with his back against the wall will be wanting his money back asap. You can't tell me there aren't default provisions which are in play right now!
Otherwise why sell Stella, the jewel, in a sressed environment?
Why sell assets which have halved in value?
This is not down ramping this is just common sense.
I admit that it is my opinion but even without the trashing in the paper MFS was an accident waiting to happen.
Too fast and furious for their own good!
Anyway as had been said it will start to reveal itself over the next few weeks and I hope that all is well and I am wrong.
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