there she blows, page-3

I would have commented re interim earlier but i had to sell my DOW shares this afternoon as i am being squeezed by falls elsewhere. I have made a small 6c/share loss on DOW and consider myself lucky it wasn't more.
I was very disappointed by the interim result today. I have followed DOW for years (not owning) and read a long IV in May 2008 with new CEO. Essentially he stated that DOW had made a huge muckup of things .... but the lessons had been learned and the new focus (from beginning 2008) was on the sustainability/diversity of earnings. He virtually said he was copying the UGL model. The CEO's report at AGM on 30/10/08 was very optimistic. On 18/12/08 DOW released a document "DOW maintains strong order book.' This report (which as an aside showed Geoff Knox CEO was now Geoff Know MD) emphasised that DOW was well entrenched in China and Vietnam. That was when i should have put a line through the company name. So today they disclose weak revenue growth (6%) but re-emphasise 'strong order book.' DOW did increase the div (by 0.5c) but mkt (like me) felt there is better value elsewhere. DOW.... like others is depending on gaining work from Rudd and i reckon that is likely. Meanwhile i'll keep my UGL and watch/wait for news re DOW from the sidelines. After yesterday's strong surge i felt DOW was going to really deliver. Sigh.