FBU - Fletcher Building

**Peitro** · 14-02-2018, 10:34 AM

Happy to be proved wrong, did not expect such a small impact.

I guess word had already been out there for months that the rot was deep set with these projects and the market had already priced this in.

**Raz** · 14-02-2018, 10:34 AM

Originally Posted by steveb

And they are a long way from finishing,and then remedial work,wow its probably going to cost over a billion!

Only two real options, a certain level of current management have no idea and/or the internal cultural pressure to get the deal done, distorted incentives, combined to caused a dysfunctional process, if the management closely involved had a clue bet they are onto their next gig well before now...

**Peitro** · 14-02-2018, 10:40 AM

Share price is only back to where we were in November, considering the market, not a bad result!

**peat** · 14-02-2018, 10:42 AM

The Capital notes have now traded. the FBI140 is up from 4% before announcement to 5.5% , with only a couple of years left on its duration.

**Beagle** · 14-02-2018, 11:11 AM

https://www.msn.com/en-nz/money/busi...cid=spartandhp

**Nasi Goreng** · 14-02-2018, 11:14 AM

I think it has to go lower than $6.70 which was the December low. Todays price is possibly being held up because the insto's can't offload fast enough.

**minimoke** · 14-02-2018, 11:15 AM

I wonder where the 10,000 people who wanted Bob Jones to loose his knighthood after writing a satirical article are?

**winner69** · 14-02-2018, 11:16 AM

Originally Posted by Nasi Goreng

I think it has to go lower than $6.70 which was the December low. Todays price is possibly being held up because the insto's can't offload fast enough.

ASX about to open

**peat** · 14-02-2018, 11:25 AM

I would tend to think the huge size of the provisions will be including lots of spare giving Taylor room to move - as a new CEO he will want to totally ensure he doesn't get blamed for any of this later under his tenure.

BUT, I wouldn't make investment decisions on that basis either. For anyone obeying any of the masters rules, eg Benjamin Graham this company is a no go zone for a good few years now. I doubt it has ever qualified for The Zulu Principle.