Someone close to me works in the entertainment division and yes, they have told me that their belt is so tight it's strangling them. Ironically, the same person worked for a company that was bought out by Pacific Dunlop and things changed so dramatically he left. Hills reminds me very much of Pacific Dunlop, it will be interesting to see where it finishes. I agree with your sentiment, I have worked in many businesses over the years and it is amazing how accountants can wreck them. I worked for a listed company many years ago, it was a micro cap, and they hired an accountant who come up with a fantastic idea to replace our product out of Italy with cheap Chinese product. His theory was we could make better gross profit percentage on the cheaper product, but we made less gross dollar profit per item, so we had to sell 3 times as many units. Anyway, it ended up that we had millions of dollars of Chinese product that noone would buy and no cash to buy product that we could sell. Most of us lost our jobs, before they went under.
HIL Price at posting:
77.0¢ Sentiment: None Disclosure: Not Held
