insidebusiness, page-2

Here'sd the video Mike is referring to:

http://www.abc.net.au/insidebusiness/content/2011/s3315092.htm

LEI looks increasingly to me more like a large political party with leadership wrangles and factions, than it does a traditional public company. It's understandable, though, as it's a three-pronged instrument, at the moment, with the LEI/Hochtief/ACS nexus. In my view, this power play will ramp up, alienate shareholders (the class action is testimony to that), and it isn't going to be pretty for the SP (nor will be the fines for the late completion of trhe desalination plant: $1.8m for each day it is late). Re the $400m claim with the class action, the company can decide to settle, asnd keep things private, or be engineered by large interests to go to court, and bring out LEI's messy private life.

If the SP collapses, ACS will be licking their chops, and can get LEI for a song. They have their preferred man in Mr Tyrwhitt. The more broken LEI is, the better for the suitor.

I'd say ACS will take their time with their machinations. I'll be interested to see where the LEI SP is in 6 months' time.