Ann: Court approves protection for Brazilian subs, page-19

re: Ann: Court approves protection for Brazil... I have been watching this stock steadily decline for some time. One of things most shareholders will not have an appreciation for is the slowness and most unbelievable bureaucrcy with which MUN has to deal. You must remember that in terms of "doing business" Brazil ranks 126 out of 183. Believe me when I saw that IPHAN had become involved with the approval process, I knew that MUN just fell into quicksand. IPHAN is akin to the National trust in Australia and they (IPHAN) monitor everything in terms of historic buildings etc etc. The problem is that with IPHAN, they don't have a lot of funding but they put the shackles on everything and then do nothing. Many, many buildings etc are languishing with closed doors and slowly rotting. The bureaucratic process with IPHAN is an absolute nightmre. How do I know what IPHAN is like? Because I attempted to purchase a house in an historic district ! The criteria for owning anything controlled by IPHAN is onerous. Yes I am an Aussi and I live in Brazil. Hell will freeze over before MUN get any realistic traction on approvals etc etc & once they get it, the on-going rituals will drive them nuts !!! MUN - good luck, because if you're not bribing someone then your paperwork is at the bottom of the pile.