What a joke of an announcement. How much money will find its way into Management's (Larkin et al) pockets. Money will be used to build new infrastructure. Like putting it into a black hole. Company in bankers hands anyway. Yes, more debt. The company couldn't handle its old debt.
They have to sell so many assets there will be nothing left of Babcock & Brown. I see Administrators already overseeing the sale of assets. It is basically a bankrupt company trading on the exchange. Remarkable that bankers were willing to give them more money. Shows the IQ of management that got the world into the credit crisis in the first place.
Bank management have no idea what they are doing and that's why the world is in this trouble.
BNB
babcock & brown limited
