ann out shocking, page-49

Just my observation on some of the comments that after being repeated ad infinitum "become fact"...from your post "??(The) announcement was an admission by Downer that it has neither the expertise nor experience necessary to execute a contract as large or as complex as the Waratah project"..I dont believe the issues are one of size nor complexity, given the other contract works across the Downer Group they have executed and are executing right now...I believe it is a combination of 1/entering the wrong type of contract whereby you are doing an EPCM/D&C contract on a fixed price...thats just sooo wrong...2/agreeing to construct our first fully stainless steel train with such arduous contract constraints...3/subcontracting the train to PRC who apparently have never constructed a full stainless steel train nor one with such a tight contract deliverable exposed to the level of design changes the client has made and required...as for the Snr. Mgt, well its always easy to criticise from outside and my view is the initial provisioning should have been heavier and hence not needing to come back to the market a second time...I think they've learnt that lesson now.
For me, I have faith in Downer's ability to win and execute and can only see the massive opportunities coming our way. Opportunities inclusing roads, rail, mechanical/electrical infrastructure, CSG in Qld and LNG with Chevron etc etc...current SP is just another buying dip for moi.