HIH made some bad calls and took on too many risky insurance policies for A good price, Ansett had A massively bad maintainence record cause by many companies neglecting it then on selling it + September 11 + being brought by Air New Zealand who paid too much then couldn't afford to fix the company. One.Tel well I knew a few people who worked for them in 2001. Their all pushing tolleys now out the front of centro's and that probably where they should have been in the first place. The Centro Management are no where near this caliber. Also remember this companies really where not picked up by the market and in fact went down very quickly. Centro troubles started in NOV 2007 and if they go broke really won't be reconsidered until either September or December also not one of the creditors of any of these companies given them over A Year to sort their problems out. Also which I believe is the governing factor here is that not one of these companies had 100% physical assets. Its hard to say their is no value in bricks and morter!
CNP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
