I had my doubts , I live in Adelaide and the stories of the old...

I had my doubts , I live in Adelaide and the stories of the old business and some divisions surprised even my brain. I cannot see that present management has disappointed to date so I think it is worth more. Yes if the ex staff have been badly treated - thats not good but often ( yes I have been involved in about three transformations) in these circumstances people do have to go - even good people. Its much like a winning team that starts losing - unless you change the coach often the team will not improve and yet those moved on succeed in a different set of circumstances. I dont know why they succeed elsewhere but in my experiences its been that they will accept change if they decide to move but not if they stay.

I think that management buying stock shows faith and in fact their balance sheet is pretty good - I am prepared to give them time to make it all fit together.

I am not sure how management can counter negativity other than to deliver over the next 2 years and let the market decide. I do get managements past history but many people made mistakes in careers and hopefully that is put behind them.

I cannot see how they could have improved the results and selling off all the old stuff and leaving the company debt free gives them a better than fighting chance going forward.