The announcement was simply hideous.Brutally honest in regards...

The announcement was simply hideous.

Brutally honest in regards to improper management, a little cloudy in regards to convenants which then makes one wonder if their management has been so poor could the result be anything other than a breach? Or on the verge of?

What I cant seem to understand is how a group like this can generate a loss, it's a building group, it has set margins, any decent management would operate with a buffer to ensure a profit at some level.

Really poor management IMO and as mentioned before it wasnt the mum and dad investors off loading their parcels, big players cut their losses.

We follow the smart money when we buy into stocks, of course we should follow them out.

Be careful with this one.