What have you done to this once almost good company? We pay you excellent money to manage on the owner's behalf what was a potentially large and profitable business. How have you done?
Instead of managing costs you chased dreams. You chalked up debt like a Greek suburb with little thought to asset/debt management. When steel turned bad; instead of reducing employee wages you simply doubled up on iron ore. When Australia looked bad you bought Butler.
Every employee needs to be given a choice. Take a 25% pay cut or leave. You need to do this now before the end and they all lose their jobs.
I have never seen a country so in need on leadership and it could start with you. Stand up and do what we pay you for.
Regards,
The Owners
ARI Price at posting:
16.0¢ Sentiment: None Disclosure: Held
