mcalleese - anyone care to have guess how low, page-2

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    it will depend on the announcement with respect to earnings and restructuring charges to be announced before the market opens on Monday. The company is closing down the bulk of the Cootes business so the additional news from Victoria is not really surprising (the defects were happening in NSW so not surprising it would happen in Victoria, and elsewhere, as well). And given that business is closing the issue will be the one off costs that all of this will generate (the restructuring charge that will be announced).

    For me the issue will be how much deterioration there has been in their main business (the non Cootes mining business). If this business is also taking a whack then the stock will fall much further than if the news was just related to the Cootes Victorian problems.

    So we have to wait and see what the earnings pre release says..to be able to make the assessment you are asking for.

    I might also add that it would appear that if subjected to inspection the majority of the Australia wide trucking fleet would be defective in some form, (in my view)...just look at the recent audit of Coles trucks.....its just that Cootes has had a spotlight shone on it due to Mona Vale and that has created a rolling shitstorm which management seems to have been powerless to stop....

    but you are right...baring a positive surprise on the mining side, it will most certainly fall......
 
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