No don't agree about McKern. Remember all these businesses were bought based on pre-GFC numbers, all with exec teams that run them at a good profit.
Then McKern came under pressure from the Coupe, little Hitler took control, upset most of the experienced (profit making) execs who would not put up with his crap and left him to run subsidiaries, he had no clue about.
With McKern at the helm those execs would still be there making profits.
Now doomed to failure unless a huge executive change. I also agree a marginal group profit is usually contrived by adjusting stock amortisation or holding levels or values, or adjusting depreciation. Non of which is easy to pick up by the Auditors.
DO YOUR OWN RESEARCH
Buy more AGO (under $4.00) and make 50% before 30 June 2012.
Olesarge
EVZ Price at posting:
3.8¢ Sentiment: None Disclosure: Not Held
