I think everyone was expecting to much out of EGM.Changing name...

I think everyone was expecting to much out of EGM.

Changing name without having a game plan seems useless to me.

New directors only there a few days and so would not be up to speeed

I still think they have about 500 million in debt including notes and about 200 million in cash after Stella and other sales.

Businesses left

35% Stella - will return dividends as partners will also want dividends
20% holding and management rights Living and Leisure (needs own work out plan)
Child care business
Residual property holdings
Management rights to MFT (negotiating with MFT to relinquish)
Structured finance business (not sure if this is a real business of if it just fed off MFS deals)
Residual Funds Management Business (IMO needs new partner to take control or has no value)
NZ holding requiring own work out

I do not think I have missed anything

Income streams becomes the key to cover interest and start making profits again.

Balance sheet will be covered in blood but at the end of the day it comes down to income streams to cover interest.

Something salvagable yes I think or I hope so but shareholders need to be in for the long haul.