http://www.crikey.com.au/2009/07/02/the-list-of-timbercorps-victims-continues-to-grow/ now with extra source Sun, 12 Feb 2012 02:48:10 +0000 hourly 1 http://wordpress.org/?v=3.2.1 http://www.crikey.com.au/2009/07/02/the-list-of-timbercorps-victims-continues-to-grow/#comment-30202 David Thackrah Thu, 02 Jul 2009 05:44:47 +0000 http://www.crikey.com.au/2009/07/02/the-list-of-timbercorps-victims-continues-to-grow/#comment-30202 Adam provides a sensible questioning coverage here. I believe very little attention has been given to the TIM board and CEO using short term borrowings for long term projects. Lonsec, Australian Agricultural and Adviser Edge seemed to be unaware of the potential for failure. Why do ratings agencies get excused over these crashes ? It is now apparent TIM should not have declared dividends as the funds must have come from short term borrowing. A particular external analyst also missed the loans problem. I think the grower-investors should be provided with a life raft in the name of Food for Australia ! Adam provides a sensible questioning coverage here. I believe very little attention has been given to the TIM board and CEO using short term borrowings for long term projects. Lonsec, Australian Agricultural and Adviser Edge seemed to be unaware of the potential for failure. Why do ratings agencies get excused over these crashes ? It is now apparent TIM should not have declared dividends as the funds must have come from short term borrowing. A particular external analyst also missed the loans problem. I think the grower-investors should be provided with a life raft in the name of Food for Australia !

]]> http://www.crikey.com.au/2009/07/02/the-list-of-timbercorps-victims-continues-to-grow/#comment-30159 Adam Barker Thu, 02 Jul 2009 04:10:55 +0000 http://www.crikey.com.au/2009/07/02/the-list-of-timbercorps-victims-continues-to-grow/#comment-30159 Lonsec are morons. They had Basis Yield Fund (remember them?) right at the top of their list going back to August 2007. Centro as well. Lonsec are morons. They had Basis Yield Fund (remember them?) right at the top of their list going back to August 2007. Centro as well.

]]>