Mike, while I personally believe the Mining Divn will be impacted, I can also see some miners reverting their business model from self mined to outsourced contract miners again...just too early to call it yet.
The Rail divn really has the rev/ebit locked in...its theirs to lose...the big wild card for me is the Works & Engineering Divn's which are poised to reap the benefits of "infrastructure"spending, just when CRudd starts that process.
Sorry to see you go but I can understand why...My view is they still remain a LT buy and will surprise on the upside not downside...anyway its just my opinion not fact.
there she blows, page-4
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