FBU Chart.

**Beagle** · 25-10-2017, 09:34 PM

Originally Posted by value_investor

The bull market sentiment overrides everything. I would have expected this to be down 5-7% after an announcement like this but I guess rationality has been thrown out the window.

I am surprised that management has been able to operate like this, isn't this type of thing bordering on negligence? Especially if management have been aware the whole time and suppressing the information from its investors. This is the third downgrade since March, surely the market conditions haven't changed that much since..

Buyer beware..

I agree with you and have deep concerns regarding the lack of transparency and veracity around timing of downgrade information supplied to shareholders. Prima facie this is actionable and a breech of the continuous disclosure obligations of the company in my opinion. The board are primarily responsible for this and senior management are certainly on the face of it culpable. The 20% token pay cut that Norris took is absolutely pathetic in my view. If the company can't find a better Chairman immediately then the least he should do is refund all his directors fees for last year's fiasco and work on for free until the B & I division is profitable. In my view his credibility is in tatters as the board clearly did not provide sufficient oversight of the previous CEO. Company currently trades on a forward PE of 16.70 and this for a cyclical building company at the peak of the cycle. Good luck to holders if they think this is still a good investable proposition. I would not touch this with a 40 foot barge pole for a significant number of reasons including the fact that I expect ongoing losses in the B & I division in future years and I do not trust management or the board. Tony Carter should do himself a favor and also resign.

**peat** · 25-10-2017, 10:32 PM

Originally Posted by value_investor

I guess rationality has been thrown out the window.

My system even gives FBU a green candle today.

FBU.JPG

because it closed higher than it opened

.

**gbogo** · 26-10-2017, 07:53 AM

large local broker research note reduces price target to $9.50 from $9.20.

**JeremyALD** · 26-10-2017, 08:52 AM

Originally Posted by gbogo

large local broker research note reduces price target to $9.50 from $9.20.

Isn't that an increase?

**macduffy** · 26-10-2017, 09:15 AM

Must be my turn to slap FBU!

The thought occurs that, just as increased profitability is often used as a justification for increased directors' fees, perhaps profit/profit downgrades should also prompt reductions in fees. How about minus 15-20% every time a downgrade issues? If this leads to some directors' resignations, so much the better!

Yeah, right.

**horus1** · 26-10-2017, 09:27 AM

its $8.50 not $9.50

**Beagle** · 27-10-2017, 05:54 PM

http://www.sharechat.co.nz/article/4...book-gainshtml

It would seem that collectively investors are starting to take a dimmer view regarding FBU and not before time in my opinion. I maintain my view that the flea infestation with this pup is very severe and its unlikely there's enough flea powder and applicants to apply it to rectify the problems anytime soon. Expect ongoing disappointments.