Hotlegs8693,I touched on this last year i think in August or so...

Hotlegs8693,

I touched on this last year i think in August or so and i firmly believe the board of directors and executive committee can start buy implementing new changes in the structure of management bonuses and salaries right throughout its U.S and Australian operations.

I'm 110% against management robbing from shareholders and this activity going on for several years(not saying that centro have) but don't mind a reasonable package just as long as this can be justified by company and individual performance.If this can't be done, then instead of big corporations(not cer/cnp) sacking people for their incompetence, they should really start by cutting their own wages possibly in half and then consider reducing hours for staff as a last resort.

In times like this, i think its incumbent on cer and cnp management, to act in the best interest of the company and all shareholders involved and one example that comes to mind; is remuneration packages needs to be cut by at least 33 per cent and that money given back to shareholders or using this money to buy back shares in the company and create some value for shareholders moving forward.If this were to happen then i guess it's a start and maybe then we can start to get some big institutions and fund mangers buying up big in this one.

Keep in mind though cer has an excellent selection of shopping malls throughout the aus and u.s and most importantly the mix of tenants that occupy these malls can be summed up as a defensive play in these economic times.


G.R has done a fantastic job so far and hopefully in the next for years he and cer management can really put us back on the map where we belong.