Trading Sentiment Buy Hold Sell, page-4

A lot of questions there Crazy but will have a go.

A Board should be independent so Banducci can not sack the Corbett/O'Brien factional stacks even if he wanted to and some of the O'Brien/ Corbett people were women appointees as they were seen to be immunised from criticism due to the gender politics rife in Australia at the time. Under affirmative action/ reverse discrimination politics, it would be hard nigh impossible to get rid of these factional Corbett/O'Brien appointees.

BP is currently getting underperform broker recommendations all over the place, they have overpaid for WOW's gas outlets pure and simple and do not have the wholesale supply. CTX may have underbid but that is mere speculation. CTX Should have underbid as I for one as a CTX sholder would have been devastated had they given WOW too much for a dominant Australian position, they would have been a monopoly in Australian petroleum retail. Y u would want that, who knows? Keeping their capital for Gull NZ and other things made sense for CTX value. Banducci did not think it was the greatest deal as he announced it on Dec 28, a sign of self-doubt and lack of confidence.

On your last two points, Banducci will have a good year if he survives and for that, the more WOW stays below $26, that becomes more unlikely. A South African in charge of WOW may become a thing of nostalgic past.

He took the job on, if he did not know how to manage it, he should have declined the offer of the CEO appointment.