One chairman is not an excuse for the way they handled it, it...

One chairman is not an excuse for the way they handled it, it was the board as a whole. With regards to the health/gyms, they were sold above book value, they collectively were asleep at the wheel when results deteriorated as they didn't cotton on to the fact that customers wanted 24/7 access also changing managers to full time salary instead of leaving them on the incentive based they were on. Marinas has been with them for along time and a small part of the business.. they have sold but have capex commitments. Main event the YOY negative growth speaks for itself also they have made mistakes on roll out, and delays, opening in sub optimal locations was a mistake. Bowling assets - too many old and underperforming centres, each year there have been 1 or 2 closed, how many crap ones left??And land sitting idle, high head office overheads, big salaries, bonuses...All in all they are doing a great job NOT !!!