Forum Archive Index - September 2001

["tennyson@caverock.net.nz" <tennyson@caverock.net.nz>]

>
>The NTA is supposed to be $ 500 mill. Even if that were the number 3
>weeks ago, I would ignore it.
>
>
The market is ignoring it, by pricing the shares at well under half 
of the asset backing. 
>
> 
>I was given to understand that liabilities exceed assets. Is that
>correct? 
>
>
In other words you think they are broke and trading while insolvent?
I don't think so, well not yet anyway ;-)
>
>
>Have all costs associated with separating Ansett from AIR,
> been recognized?
>There still could be a case being made for AIR to recompense the
>Aus. unions. A small chance perhaps, but nevertheless it is there!
> 
>
>
Latest word from the receivers in Australia is that they think 
pending costs are covered. 
>
> 
>I won't accept that AIR is running at a profit in present
>conditions. 
>
>
It isn't.  Gary Toomey is on record as saying so.
>
> 
>If there were bonuses paid to Directors, shareholders should demand
>- in my opinion - the return of same!
> 
>
I'm not sure where this myth keeps coming back from.  I havn't seen 
any evidence that any of the directors, Toomey apart, got bonuses.  

Even now I don't begrudge Toomey his cash bonus as he didn't create 
the mess, and I think he has done an exceptionally good job.  That he 
ultimately failed has been taken into account too.  His share options 
are now effectively valueless.

Of course if Sir Selwyn were to offer his knighthood back, that I 
think, would be the honourable thing to do. SNOOPY


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