ge purchase, page-15

So, are we debating its commercial or not?

Of course it is. GE is no charity business. Yes – buying 1% more may be significant but don’t be fooled that they would dump it when they feel fit (commercially what their strategic view will determine the exist)

No company just comes in and says yup we like PDN, it’s a great buy according to HC so lets buy!!!

It all comes down to return on equity. For example, our Institution would have done a bucket of business some 14 months ago that we won’t touch today. The capital requirements are tough. The money market is frozen so decisions will be made commercially. No decision gets made emotionally for sure.

Who knows – they may be averaging down. Look, is this good news for PDN – sure if. GE atleast believe in them. Does that mean the world agrees – nops. Many are not touching PDN at the moment.

GE have made some bad decisions in the past so lets not get carried away.

It’s a commercial decision but a good support for PDN. People who believe its not commercial decision are kidding themselves.

Fire away....