It's always good to go the AGM and check it out at first hand...

It's always good to go the AGM and check it out at first hand before making judgments based on the published reports. I did this and came away impressed with what the new management have done and are now doing. Granted, the figures don't lie. It's what is not in the figures that will make the difference. The best thing AMA has going for it is the new management. You can't quantify that and you can't evaluate it without meeting the players. I was at the 2008 AGM where Ray Malone was the aggrieved outsider. Now he is the boss, taking the 2008 boss to court. I'm not sure what you mean by "vendors" needing repayment - there are no vendors any more. That's the whole point of the restructure. There's also no fancy headquarters in the centre of Sydney. My impression from the AGM is that these guys, who have their own money in AMA, are appropriately focused on making it pay them back. On that basis, I continue to hold a large stake in AMA and buy more as and when.