A turn around in my book starts from the top down, Observations,...

A turn around in my book starts from the top down,

Observations,
- plenty of scope to lean out the company
- some old wood in snr mgt positons
- Receivables may not have been on a short leash.
$1.4M written off.
- risk of a "family run" business.
Directors loans are normally a good indicator
- Figures for 2010 are poor compared to 09 yet
- the bill for snr mgt rose from 1.4m to 1.9M,
- rent went from 800k to 2.1M

If the numbers are heading south, then it's time to focus on the low hanging fruit and trim the vine. They might not be able to always control revenue, they can control costs.

On a better note,
Directors have plenty of shares.
Skin in the game is very important.
They have been selling down, which is a shame

We'll nut this one out yet.
Mav

P.S. Greyhound, I promise to write some positives next time mate!