GSO deal, page-45

Who owns the strategy ? CEO, Board, UBS Lazard ?

A full investigation needs to take place into their decisions the last few years, someone was hell bent on expanding into IO despite the increase in debt, analysts predictions re IO prices and high cost contracts. It was either arrogance, ego, stupidity or something more sinister.

Plenty of people and companies made millions out of those decisions, all at Arrium shareholders expense. Some are still profiting handsomely due to the contracts being agreed to by Arrium management.

It can't be all incompetence, a group of people paid millions of dollars a year can't be that stupid all the time. Bring in the investigators I say.