Just an article from The Australian in case anyone hasn't read...

Just an article from The Australian in case anyone hasn't read it.

http://www.theaustralian.com.au/business/opinion/boom-logistics-bol-405c-sits-on-archer-bid-but-has-a-long-haul/story-e6frg9if-1225875222635

Boom Logistics (BOL, 40.5c) sits on Archer bid but has a long haul
CRITERION: Tim Boreham From: The Australian June 04, 2010 12:00AM

MEMO Boom board: try to tease more from Archer/McAleese Group's incomplete offer of 52c a share -- but please desist from summarily dismissing the offer as "opportunistic"or "significantly undervaluing the company's future potential".

Given the "lifting solutions" group's dismal earnings history over the past two years, such blue-sky assurances of improvement wear a little thin.

For the record, the board is assessing the offer in the context of the "improved operating environment" and recent contract wins. Given these loaded words, it sounds like it's not building up to a cock-a-hoop endorsement.

Under ex-Brambles CEO Brenden Mitchell, Boom has focused on its more profitable wet-hire strategy: big-end equipment (including crew) for which there are higher barriers to entry.

Boom's earnings collapsed to $414,000 -- not even enough to buy a decent knuckle boom lift -- in the December half. Management expects $2-$5 million for the full year, so it's a long haul even with a self-propelled spider lift.