That bank isn't Hungry Jacks...it's the other one, if you know what I mean.
Now, lets stop and analyse banking procedures and LVR's (Loan to Value Ratios) for a minute.
The market place is concerned that the banks are concerned about the 40% (approx) LVR'S which is where FKP is at. A public company that has proved on a number of occasions that they can tap their shareholders for meaningful hundreds of millions of dollars in extra capital.
Yet those self same bankers are happy to lend wet-behind -tthe- ears Duane and Doris Burb up to 90% of the value of their home!!!
It just doesn't stack up in the logic stakes particularly when Duanes job is rocky, his credit card is maxxed and he has no shareholders who will spring for him.
Illogical...and what is happening is mere posturing. FKP will refinance, the battle is over how much the bankers will extract for the privilege.
Truly, the modern day Al Capone isn't running sly grog...he's a corporate banker!
FKP Price at posting:
$1.34 Sentiment: Hold Disclosure: Held
