takeover, page-5

To much debt?

Too relient on exchange rate to make profit?

Retail and spending is in a downward spiral eg world is saving not spending

Exposure is retail

Where is this going?

7.10?

6.89?

I remember last nov qbe was doing this rising slowly low range, then would tank, but when punters relised good value it rose. Abeit slowly, but now its powering. Could billabong do this or is it the death of bricks and surf retail.

Japanese factor must also be impacting as well?

It has been tough love

Might have to cut my loses