sain@vision15 Nov 2012 12:51
Agreed Sain, but there is no penance great enough that can be passed to the directors that will grant forgiveness in this case. They cannot repent for the sins of their fathers and have had no alternative but to sell off the family silver (wholly owned fund) to satisfy banks and creditors. I am at a loss though why people are still buying shares in this company (what do they know!?). Warner as you say bought properties at the peak and sold in the troughs and could never quite establish who they were and what market to specialise in. Anyone with the ability to read company accounts would sell and get out whilst they can. There will be no rights issue and salvation for Warner. If I am wrong, I will eat my hat!