Burning cash in a complicated way
Quote:
Originally Posted by
Beagle
You could be right as I think there's very little doubt now that they simply don't have the expertise within their own ranks to complete major projects in an economically feasible way. The complete cessation of bidding for future high rise / major developments is a frank admission of exactly that !
How does $420m become $880m, soon possibly to become $1b+ ? The mind boggles. The new CEO really has no option but to try and cauterize the wound before it takes the company down.
See they are already booked a provision for those dinky apartments in semi- CBD Christchurch...so already expecting six figure write off per unit..yeah burn baby burn....