I think having such a significant portion of the NZX 50 does FBU a lot of favours.
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I think having such a significant portion of the NZX 50 does FBU a lot of favours.
Agreed, the degree of incompetence shown from management in that division is absolutely breathtaking. To me this announcement does absolutely nothing to address key management failings within the company. Its almost like, oh my goodness we put $500m on black on the roulette wheel and it came up red, sorry about that folks. Not nearly enough contrition shown and not enough of a thorough cleansing of the dead and rotten wood within the company. Every single staff member within that B&I division should be made to reapply for their job and make their case for being retained and an independent expert construction panel appointed to make decisions on a case by case basis. In my opinion this company is uninvest able until that happens.
At a personal level, I cant see anyway the Christchurch Metro Sports facility and rugby stadium will ever be built now.
- Ralph NorrisQuote:
A boom is worse than a bust (in may respects)
They'll be hoping for a bust I presume.