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22-05-2019 02:28 PM
So the latest SOL report on the cracker which isn't cracking leaps off the page! It leads to the question: is the risk reluctance seen so much these days a product of the usual
suspects: fears of trade wars excalating , interest rates climbing , or does managment greed - or unrealistic shareholder expectations being dashed apply?
Ask yourself as regards the penultimate point , how is it possible , given what we see being
paid ( as one example ) to the managment of the (almost moribund?) Old Mutual this year - when compared to what they were paid 10 years ago, that the current management is such a multiple
BETTER than those of the past? Are they 10 times better at the job? Okay I can live with inflation plus increases - but just look at the difference in this example.
And when it comes to efficiencies. Now SOL management tells us they are "very disappointed" What a load of rubbish.
They are paid to ensure that we - shareholders - are not disapointed- acts and events outside of their control excepted , of course.
They should not be disappointed - at least not if they are actually managing this project successfully? But now ( once again _you look at this
massive white elephant(?) and its returns anticipated and they are of the order of an IRR of mid single digit levels. And all you can do is to raise
a question mark - only to find there is no-one there who will answer?
What the expletive deleted does management think it is being paid to do?