Confidence in PWR is sinking fast not least because Macquarie...

Confidence in PWR is sinking fast not least because Macquarie Bank have acquired the OSS business of OTT for a fraction of what PWR have paid in equity for CLA (even at today's low share value). Banks are scooping up distressed assets which is a good sign I guess.

PWR are desperately trying to preserve their profit position by costcutting but luck is not on their side. They desperately need some good news. Corporate raiders are not necessarily business managers once they get control - can turn good companies into empty carcasses. PWR have an unfortunate track record in this regard.