the turnaround we had to have, page-3

Re Coles acquisition 'timing was all wrong.'

The key 'failure,' if you will, was failure to predict the Global Financial Crisis, but that was common to almost ALL businesses (Australian or otherwise), and ALMOST ALL mainstream economists (Nouriel Roubini--Dr Doom--take a bow!)

However, GFC or no GFC, Coles will turn out to be a company-maker and HUGE source of Free Cash Flow (and dividends), once the turnaround is firing on all cylinders: not overnight, but (READ RICHARD GOYDER'S LIPS) within 5 years. (Anybody know a mob that can successfully execute a 5-year turnaround in 18 months?)