tcard bus trials

Another report on SMH this morning by Linton Besser refers to public Bus trials. It's probably the most decent report on Tcard I have read in the last couple of years.

See:
http://www.smh.com.au/news/national/fight-for-tcards-lost-80m/2007/11/12/1194766588595.html

Also forum talk by Bus drivers refers to the trials.

It seems that ERG is rushing a public Bus Trial with both Mr Gallagher and Mr James Carroll rushing to Sydney to prepare a plan that will be delivered to the NSW government on 10 November.

That's AFTER the AGM.

ERG's board will get the debt re-structure proposals approved on 26 November on best terms for Duncan Saville. I hope that the ERG board doesn't forget the many millions of dollars they have raised from the long suffering ERG investors through rights issues.

All this is great news for day traders. Reporters post all sorts of crap to manipulate people's souls and minds that drives share trading by fear and greed.

That's what day traders and insiders love. This uncertainty creates many sort-term (and long-term if things come right) trading opportunities where 10%-20% of profit can be made within hours. Volumes are high. People with insider knowledge also take advantage of the situation and they either offload or accumulate depending on what the future might hold.

Expect a similar situation to Tcard's, with Myki in Melbourne. Myki has MANY software problems that have not been made public yet. Myki is nowhere near ERG's progress at San Francisco or even Tcard's progress. System testing hasn't even started.

Needless to say that this in in ERG's favour as ERG continues to run Melbourne's Metcard system and will continue to run for at least another 2 years until Myki is sorted out or handed over to another company. That's, if Tcard is sorted out in the next 6 months it could well come to Melbourne.

I wonder whether ERG management have the insight to get their act together, sort the Tcard problems quickly and look to future opportunities.

ERG's management MUST be grilled in the next AGM.