eddie groves on abc tv now, page-9

During the interview on Lateline Business with Ali Moore Eddie commented to the effect that MS's $1.15 was a reflection at the time of what the market value for ABS was. Given that ABS was trading between $1.30 & $1.56 at the time of the ann. IMHO we might be forgiven for being somewhat non-plussed by that statement.

Eddie's comments re increasing leverage when it was fashionable & now de-leveraging to appease the market & "right the ship" were disappointing [jumping at shadows?]. I would have preferred him to re-paint a picture of the vision for ABS & outline the strategic action plan aimed at achieving that vision. After all & IMHO the FMG story has demonstrated that it's not just about debt levels.

Overall though IMHO Eddie still demonstrated great passion for ABS & indicated enough to suggest that it is on an increasingly stable footing.

4YIO - NFA