1) business overhauled....wrong!! as long as "emerging markets"...

1) business overhauled....wrong!! as long as "emerging markets" still operates...., NA is a pale fraction of its former past, so without another acquisition - has lost its scale and relevance! EO and ANZ are the only "profit centres of note" rest are simply a diversified nightmare to manage, add bad mngt, that makes for POOR returns, zero growth and yes, hoping for the bond yield rain to break the drought of little return! whats the ROE? ..years to go and better mngt required, and all past "investments" DIVESTED before the real overhaul occurs
2) agree - only thing that will save this skin....pray it continues....and fast.

iag - 39c in divis a year fully franked!! (7%)
qbe - barely 50c (part franked ~4.7% even after raising the cash payout ratio - time and time again! go those PY releases!!)

so....2 IAG shares = 1 qbe hmmmm....2*iag = 78c fully franked divis vs 50c with 1 qbe......weigh it up, i know what id take...and much better business. all IMHO - DYOR