going long, page-12

" McAleese, has been one of the worst floats in Australian history?—?slumping form $1.47 to 0.50"

"Despite the clear concerns over the Cootes fleet, McAleese proceeded with the planned float. Recently, the company reported that it expected to lose $40 million in the December half. In the company’s prospectus, released less than four months ago, the company forecast net profit after tax of $44.4 million (this forecast was made with full knowledge of the Mona Vale tragedy). That’s quite a turnaround."

Well at least someone made some money flogging off this private company to some new patsy's.