I won't pretend I follow MGR, but your "friend, who's working in...

I won't pretend I follow MGR, but your "friend, who's working in accounts department" - their opinion flies in the face of the Mirvac announcement on 20/12/07:

* NO short-term debt due for repayment (ie. less than 12 months);
* Only $138 million in debt expiring within 17 months;
* Long-term facilities of over $3.3 billion, with $837 million of commited but undrawn bank lines;
* Gearing of approx 37%.

Not sure what you're friend does in accounts department, but if any of the above is a lie, well, noone could trust any company on the ASX so we might as well give up on it.

MJS