Looking at Transfield there are number of problems in my...

Looking at Transfield there are number of problems in my opinion. First was TSE never really benefited from mining boom as companies like UGL and others. Also TSE made some bad acquistion in US that had to be written down. I believe some middle management are well over paid earning over 250K for company that is not proforming agree with company on redundancy policy. I can't belive TSE management was doing a buyback last year when share price was 2.50 mark, they were artifically trying to keep share price at $2 mark. They should of keep funds in company or paid down debt. At 90 cents it probably not cheap until we see earning and gearing of company.