mccabe, page-18

Nursery I totally agree.

He could have closed the door, but from what he said it appears in action he sees an opportunity as a holder to build value, hence if you like his performance, same for the other holders to ride on this expertise. I personally believe the BoS deal was brokered by him, Day or Hurley couldn't have lent much weight to that kind of negotiation with a major Scottish bank where the bank had more risk than us, quite a coup there.

McCabe will not only come on board IMO he will revitalize the company with common sense, global industry contacts and overall add a renewed confidence in management which has been sorely lacking for a long time amongst insto's and brokers alike.

I posted awhile ago an article on Stephen Day and Peter Hurley, we've managed to lose one of the two, hopefully soon we'll see some old-school decent frugal and intuitive players running the show.

http://www.businessday.com.au/business/the-chronicles-of-executive-greed-ii-20081029-5b8e.html

Generally the first rule of thumb in assessing a company is a good hard look at its management and their track record, for me personally him becoming a 19.9% owner and proactive in management is not only a good thing, it's almost a god-send if Valad's name, progress and faith in the company is to be restored especially amongst the major money men, both nationally and internationally.