Monday, 31 October 2011

Prof Stewart didn't get much right

“There is a strong push to stop all logging of native forests, but is this really justified from the point of view of conservation?” asks Professor Stewart in her recent article ‘Forestry didn’t get it all wrong’ ( HERE ).

One may ask is logging really justified from a business point of view if losses continue to accrue.

Prof Stewart’s article was a sober reminder that we are as far away as ever from agreeing on a way forward for the native forest industry.

Tuesday, 4 October 2011

Greg's report card

Greg L’Estrange completed another semester last Friday with the release of Gunns’ latest set of consolidated financial statements for 2010/11.

Greg may be looking for a social license, but the statements highlight Greg’s progress as he staggers towards D Day, in January 2012, a date with debt and destiny when his bankers will decide whether to roll over or refinance a large part of Gunns’ debt. The dramatic decline in asset values and tight cash flows continues the pattern of 2010, a pattern that largely came to light with the abdication Greg’s predecessor.