you little ripper, page-3

GB has been told that the shareholders dont want Asia at the moment. He has stepped down as chairman, stopped pushing money into a black hole called China and lost his office in Sydney. I'd say GB is now toast...the shareholders have spoken and he's gone. Hopefully now we can concentrate on creating some value for shareholders.
You see, its fine to talk about expansion and acquisitions when the money is there to do it, but if assets are going to become cheaper, why borrow money to buy then now. At least now we know what the downside risk is.

Vis a vis the domestic biz, margins are improved, volumes are below previously forecast numbers but still pretty decent and we have the benefit of SPS migration for the balance of the fleet to look forward to and further cost savings under the guiding hand of Tim Wildash WITHOUT GB calling the shots. Most importantly, the company is cash flow positive after interest costs and the promise on a number of cost savings to come through in the second half.