ugl is fine,it is others that are the problem

If you go to google news,and see the impact at what Dubai has announced then you will get an inkling that we are not and are suffering the ripple effects of this fiancial crisis.Look at the price of gold,look at the fall of the U.S.$,just Dudai's announcement led the European market to drop over 3% in one hit.

So good companies that have a sound base like UGL are not fireproof and at the end of the day looking at the structure and the debt:liquidity of this company,I am not concerned,as it is not UGL-it is others and their business acumen that got them there in the first place.

UGL will get hit,like other sound based companies and we all pay for the sins of a greedy few.

And considering I am no stock or fin wizard,I am still putting my money into UGL.My only fear is a foreign takeover or buyout of this great crowd. Take a deep breath and exhale slowly-----Here is the article below

Market loses nearly 3pc on Dubai shock
Posted 3 hours 29 minutes ago
Updated 1 hour 14 minutes ago


Shockwaves from Dubai are being felt in the Australian stockmarket (AFP)

Related Story: Dubai default fears scare world markets Fears that Dubai may default on billions of dollars of loans have hit the Australian share market hard today, with shares losing nearly 3 per cent in value.

Dubai is seeking to delay the repayment of billions of dollars in debt held by the partly government-run company Dubai World.

Dubai World is a conglomerate which owns one of the United Arab Emirates' biggest property developers.

The company is thought to have debts worth about $US60 billion and wants a six-month suspension on the repayments until May next year.

The division director of Macquarie Private Wealth, Martin Lakos, says doubts about Dubai's ability to pay its debts have come out of the blue, despite overbuilding in the economy in the past few years.

The All Ordinaries Index has tumbled 2.6 per cent, with the financial sector experiencing the biggest falls.

All of the major banks have shed more than 3 per cent.

Construction company Leighton Holdings, which has links to Dubai, is down 3.4 per cent to $34.99.

The Australian dollar has fallen and is buying 90.6 US cents.

UK banks which have exposures as lenders were sold off heavily last night, but Mr Lakos says the exposures should be small for Australian banks.

"The exposures are relatively small given the total size of their commercial lending books."