Guys, I don't like it when IFM loses 10% of its annual profit,...

Guys, I don't like it when IFM loses 10% of its annual profit, any more than anyone else. I don't claim to know the specifics surrounding this non-renewal. But it's worth remembering, that large companies, such as the auto companies, tend to have new managers that 'fly in' with all sorts of ego driven, and usually short term agendas, or are looking for ticks in their KPI's, and so will attempt to squeeze suppliers hard. Sometimes the best thing a supplier can do, especially one that believes in the quality of its product, is to walk away.

The power of the auto companies is a significant weakness for the likes of IFM. This however, of its own, does not mean IFM does not have significant value or a future. Remember, these short termist agendas, tend to come in cycles.

I sympathize with nickyjames about the drought of new business contracts (as distinct from contract renewals). However, there is something we should seriously ponder here. Richard Graham, who knows the business better than perhaps anyone, bought about $1.4 million worth of shares at over $1 per share, only in September of last year! This was at a time when the apparent 'drought of new contracts' was in full swing. That, surely, is telling.