I hold quite a few shares so i thought i would post these...

I hold quite a few shares so i thought i would post these thoughts.
FGE was going well for so long, good dividends etc and no complaints anywhere just high fives.

The very minute something goes belly up, here come all the complaints and class actions.
The mining services area is cut throat, highly competative and if your prices are not lean then you have no hope in hell of getting a contract.Add to that huge expenses in heavy machinery,wages,breakdowns,wear and tear and the list goes on, it is a very difficult industry.

To top that off, the previous anti productive govt with their carbon and mining taxes, unions running around systematically tearing down productivity,coupled with a big downturn in China,you have a recipe for disaster.
Coupled with human error in management and shareholder judgement, you are set for a catastrophic downturn.

Now we blame management but take no responsibility for our own shareholding.That was a big judgement of error on our part.

In my opinion, nothing will come of the class action, the management did their best in what was a very very dificult climate.Yes they may have made a few judgements of error, hello we are all human, maybe they are guilty of that All this class action will achieve in my opinion is some shining coins and big dollars in the legal eagles pockets and the creditors taking a deal of a few cents in the dollar.

Time for us all to move on here, nothing happening here folks.