downgrade, page-116

re: chart - in a four year down trend... cut the dog loose today, could see more pain on the horizon

am no expert, but the numbers looked pretty crap

market cap of 1086m

earnings last year of 81.9m

earnings this year of 67.9m

and this is on the back of rising revenues

what happens when our booming economy slows down and travel slows?

what happens when other outfits like webjet start gaining traction

what happens when the damned bird flu does actually break out? this would be a double whammy - less people booking travel plans, and less commission from airliners whcih would have to cut spending to survive the downturn -

... might be lucky to hold the $67.9m earnings in these circumstances, in which case the earnings yield is still only 6.25% ...

very disappointed with the investment mag's recommendation. cannot see how it was great value at 15, can't believe i bought that sucker