Gunns discovery expedition

IT WAS bound to happen.

The institutions growing weary of propping up Gunns, whilst seeing its share price plummeting.

They’ve been too kind for too long.

Gunns is now a fairly lowly ranked listed company, coming in at about 250th on the latest ASX list in terms of market capitalisation with a figure of about $450 million.

Nevertheless the institutions which control over 80% of the issued shares have no great desire to see the rest just fritter away.

That’s why the restructure plans have been floated.

Tourism freeloaders

The tourism industry is always held out as the way forward.

Perhaps it is.

But is it immune from making unreasonable demands upon Governments? And are the existing political parties able to distinguish spin from fact? And do they treat them equitably when compared to other industries?

FEA treading water

Forest Enterprises (FEA) are suspended from the ASX not because they’re in the midst of discussions with their bankers, but because they are in breach of ASX listing requirements.

They are yet to file their half yearly report due by the end of February 2010.

FEA are currently insolvent because the banks intend to test their loan covenants by using the yet to be released results.

They’ve now been in breach of banking covenants for 9 months.

Bartlett and the new forests plan

Mr Bartlett announced funds would be made available “for the implementation of the new Forest Industry Plan, released in January by the Forests and Forest Industry Council of Tasmania” HERE.

One doesn’t need to be a graduate of Dave’s much acclaimed Tasmania Tomorrow, for the merest cursory examination to raise doubts about the Plan.

Dave’s blind acceptance of the Plan is quite staggering. He couldn’t possibly have read the document.

It wasn’t a reasoned Business Plan. It was designed as a political document, as is evident by his reference to the Plan at a time in the campaign when the divisive forestry issue was needed to lift his flagging fortunes.