doomsdayers, page-10

Not more than a year ago, GTP and TIM said their net assets backing (NAB) were both around $2/share or more, but gradually they had to lower those numbers. After the collapse now their NAB are found negative - land values can't cover the mortgages.

FEA now also says its NAB is ~$1/s (many times over its market price) and its Tasmanian land price doesn't drop. If so, why not just sell the lands right away?

FEA has got a MIS revenue of only $23m this year and it has to service a debt of ~$200m (up from ~$130m a year ago). Besides, it also has tens of $millions of fixed expenditures. How can A.White do it, even if give him a $1m bonus? Can he give half of it to John Gay under the table and make a deal?