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Good morning everyone on this sunny Tuesday. Been deep sea fishing for a few days which was really good and had the benefit of no phones or internet.
Well Monday turned out to be disappointing given the late rise last Friday in the US Markets. FTSE failed to do the same and I see HBR is still range bound at 17p+ old money even though the price of oil keeps rising.
As I write Asia up following US market gains. Oil up again with Gold up a tad. Gas steady. $ doing well as is the £. Bond Yields on the up with rate rise's now a certainty. Never say never but 2% is a safe place to put your money if the markets get scary.
Crypto's making a real effort to rise again but looks like repeated 'dead cat bounces'. Anyone's guess where it will go but just high risk gambling as far as I'm concerned.
Russia and Ukrain been quite for a few days but that could change. China and Taiwan will happen, when is the question, post Winter Olympics is my guess. Either scenario happening will spook the markets and see energy prices surge.
Boris the media suggests is still at risk but my guess is he will ride the storm and stay put which is good. The UK needs Boris at present because the alternative is Labour with turds like Starmer, et al, and just think the likes of little t****y in Scotland joining forces with Labour.
Six Nations starts the weekend and EPL coming back so good for sports fans. If you like the Winter Olympics we have this in China but not sure who will actually be there.
Today for the FTSE. I would expect to see a rise but US markets may reverse in the afternoon so 50/50 call at the close. See Vod doing well after 'predators' joined the party so expect more gains as with BT both unloved shares but rising from the dead.
Today for HBR. As usual just a toss of a coin for me with this 'dog' of a share. No good news on Tolmont that did not go on-line in January. Capex on this must be pretty high already, and its growing daily. Is this HBR problem or those who built the thing. My guess is this is a legacy issue so its HBR who bear the cost. Sure others can explain better than me. Be nice for the Board of HBR to issue a reassuring RNS. Is that likely. Nope.
All theory of course and all have a lovely day. For those that dislike my posts, don't read em. Simple.
HC
Good morning everyone on this sunny Thursday morning.
Surprisingly the FTSE did well yesterday . Early indicators suggested that the US markets would also rise. As it turned out after the US markets bounced they once again turned negative at the close. Late Thursday US Futures were on the up but no idea how that will reflect today. 24 hours is a long time.
HBR held up a tad but nothing like the rises in other petro/energy stocks of 4% to 5%.
As I write Asia well down. Oil and Gold down. $ stronger and £ so so. Fed statements 'hawkish' but indicate the end of cheap money and forward rate rises. Bond Yield's on the up so their guessing more than one rate rise in 2022.
Cryptos again in retreat after what appears a 'dead cat bounce'. Hard to see these high risk assets as anything other than that, high risk.
Today for FTSE. No idea but with Asia down so much in reaction to the Fed statements its hard to see the FTSE rising. Much will again depend on US markets later in the day.
Today for HBR. No idea, but with oil/gas down could see it retreat unless the North Sea news on Shell make's MM's believe there is gain for HBR if it goes forward. As usual with HBR a toss of the coin is the best approach.
A question on HBR dividends. Reading the 'yahoo link' posted by others yesterday the writer of the article suggests HBR SP could double in the next 12 months. Obviously that may be true but debt was flagged as an issue. What I did not understand was the writer saying that the Board of HBR could in the future announce dividend payments. I thought in the CMD disaster that they already announced 200million of dividends would be paid. Was the just a promise of the future or fact that in this financial year we will be paid dividends. Anyone with the answer is very welcome to respond.
All theory of course and all have a lovely day. Those not liking my posts just don't read them. Simple.
HC
Good morning on this sunny Wednesday.
Well the FTSE held its gains although the Dow ended negatively and the Tech heavy Nasdaq again got hammered as did the SP. HBR surprised with a near 10% rise.
As I write Asia is mixed. My guess is until the Fed meeting nothing will change. Oil and Gold down a tad. Gas iffy. $ weakened but £ so so and Boris new deal with India a big win and pleased the markets.
Crypto's bounced of lows but Fed meeting is again a factor. Just a 'dead cat bounce', no idea, but hard to call a bottom other than zero. I don't like crypto's no intrinsic value and controlled by lets say 'gangsters' as a way to hide ill gotten gains.
Progress on Russia/Ukrain with past Ambassador saying there exists a peaceful solution. My guess is this involves putting a Putin puppet in power in the Ukrain and hey presto a painless coup. China is doing its best to 'stay low' before the Winter Olympics but past this expect some action.
Omnicron still reeking havoc across the world. Some Western countries now ignoring the problem and saying that like the 'flu' we're going to have to live with Covid in any form. Vaccines getting modified and becoming more available, even I got my Pfizer booster here yesterday. Will the vaccines manage Covid in its many forms. No idea, I'm not a scientist but fingers crossed.
FTSE today. Futures for the US closed negatively on Tuesday evening which bodes badly for today. Everything hinging on the Fed meeting. Europe and FTSE futures also negative as I write so I'm expecting a pullback until the US markets open and await Fed statements around lunchtime in the US. 50/50 call.
HBR today, no idea. A near 10% rise yesterday. Why. One reason is petro's/energy rose across the board between 4% - 5%. More importantly for HBR, we got news that Shell are in talks with OPRED on the North Sea projects including Jackdaw/Shearwater and the Cambo field that Shell said it was pulling out of. Some experts suggested this would see the eventual demise of North Sea oil/gas. Greg Hands, the minister for the sector, said North Sea oil/gas was vital to the UK given our dependence on crooks like Russia, et al. Using HBR Judy field as a 'route of transfer' would give HBR a partnership with a big petro (Shell) . This is just 'flagged' as ongoing discussions but clearly the MM's saw upside for HBR yesterday. Obviously this narrative could change.
Others posters, like the Dumb Muppet team of Soder, Bacc, laidback, et al, say: 'oh look' HC got it wrong yesterday. Sure I did but I was happy for the gain but I say daily I have no idea where HBR SP will go. I don't have a crystal ball to forecast good or bad news for HBR, nobody does. I would suggest everyone takes yesterdays gain and moves on. Today could see these gains reversed, or not. Predicting HBR SP is a fools game and remains for me just a toss of a coin.
All theory of course, all have a lovely day. Don't like what I write. Don't read it. Simple.
HC
Hi Dozer, you ain't been around for awhile. Where you been dude I missed your thoughtful pro's on investing. Figure from today's nasties your talking to your best mates in the Muppet cave about the 'loads ah' money' you made on HBR
Come on dude if your gonna do this at least be original, using my insult of Muppet is childish find your own names.
Just a point on your nasty little post today. At what point have I said HBR ain't a SELL. It is a SELL or are you that dumb you ain't realised at yesterdays close the SP had dropped 100p+ since the CMD. Might I suggest you cut back on the Stella Artois for breakfast and watch the markets, and read stuff, you may actually learn a few things.
As Biden said 'what a dumb son of a *****'.
You have a lovely day.
HC
Jeff
You may be right but I would not even try and second guess the Fed. My own view is they need to curb inflation. Raising rates alone will not do that so second option is to reduce the cheap money thats been around for too long. Bond yields are high given rates are still all but zero so the spread suggests it will tighten. Add the forward mortgage 'pegs' have risen sharply since the start of the year. All indicate a tightening policy but the Fed tend to surprise. Hope so because if they come out hard markets may get a bit upset.
All of that said lets hope todays rally continues. Been a tough few days 4sure.
Have a nice day.
HC
Here we are on Tuesday morning and dearest laidback joins the party. You really are one of the Dumbest Muppets on this thread.
Why, oh why, do you even read my posts if they upset you so and why respond with little quips that mean now't. You obviously read my words in depth but have nothing of worth to add but suggest my words are what exactly. Wrong, or right, or maybe both or neither. What is it, do tell.
Anyway, you have lovely day and if your going to the playground wear your pampers, ok.
HC
Good morning on this sunny Tuesday morning.
Well I expected a drop in the FTSE on Monday but wow 2.6%. The US dropped off a cliff initially and this dragged the FTSE down to the close. Then the Dow and Nas had a dead cat bounce. Will it be a false dawn today or will we also see the FTSE bounce.
HBR again broke a new support level at 330p. Will it continue. No idea, but clearly something is wrong with this share and MM's are selling out. Trades executed are way too high for such an unloved share. It could be day traders but this feels different as if bad news is possible and the stock is being dumped by those that know more than the normal investor.
As I write Asia down and futures show no sign of a bounce in the FTSE or Europe. US could go either way after yesterdays crazy turnaround that looked like 'bottom feeders' sweeping up beaten down stocks. Again, could be a false dawn with all waiting for the Fed statements that could send the markets into a tailspin if negative on cheap money and aggressive rate rises. Watch the Bond yields good indicators on where we might be by Friday.
Oil and Gold up a tad. Any action in Ukrain will see oil/gas prices fly. $ still solid and £ doing ok. Company earnings in $ should be good on exchange ratios.
Crypto's still suffering with small gains lost and again on the back foot. 2022 could be tough if this is your only game plan with new regulation by the day.
Russia and Ukrain the big news with Putin looking to have a 'puppet' declared as the new President of Ukrain. Not sure exactly how that works will he just have the old President shot. Anyway, scary times 4sure and markets really nervous. China will do as it pleases so gonna be a tough few weeks.
Today for the FTSE. No real idea but could bounce after yesterdays big falls and expect oversold value stocks to be brought but Tech stocks still negative with rotation to value stocks continuing. Much will depend on the US markets opening with UK MM's waiting to see how it goes. If US tanks early any gains on the FTSE will likely fade.
Today for HBR. I don't have a crystal ball but this share is scary. Lost 100p+ since the CMD disaster and even with oil/gas prices flying its going backwards and now at 15p old money. Is there a bottom. If Tolmont news is negative expect 300p to be the next support level, from there anyone guess but this is just like the PMO days albeit we then got above 100p+.
All theory of course and all have a lovely day. Those that dislike my posts just don't read em. Simple.
HC
Good morning everyone on this sunny Monday morning.
Well last week was painful. Will the markets improve today. My guess is Monday will again be a down day for the FTSE and for HBR no real idea, bit of a toss of a coin share.
As I write Asia down following US drop last Friday that was brutal. Tech heavy Nasdaq now down 12% since the start of 2022 and SP down 7% to 8% . Futures for FTSE and Europe all negative at the moment but US futures may indicate a bounce so 50/50 call. Everything hinges on the Fed meetings this week and the tone they set on 'cheap money' and interest rate hikes that could happen this month. Bond yields dropped back a tad on a 'wait and see' basis but if the Fed come out strong on 'cheap money' and rate hikes expect more money to leave the markets for safe havens.
Oil on the rise again and Gold doing well. $ getting stronger if only because of Fed meetings this week. £ doing ok and Boris looks safe for now lets see what the enquiry brings. Sure Starmer and his ilk will be having another fit about more nonsense 'leaked' by Cummins.
Oil/Gas could spike dramatically if Russia invades Ukrain which looks more likely given US are moving staff out of their Ukrain Embassy. China over the weekend increased incursions into Taiwan airspace which is a real concern. Xi and Putin obviously think Biden is weak at present with his poll ratings dropping in the US and he has enough problems without wars in Ukrain and Taiwan. If any of this happens world markets will overreact 4sure.
Crypto's still under the hammer with big drops on Saturday following Friday bloodbath. Will crypto's recover. My guess is no as those who made money on this risky asset class took their money awhile ago and put it somewhere safe like Bond's, etc. New support level in dollar terms for Bitcoin was $35. That's now been breached so $30 is the next support that could fall with US tightening up on crypto ownership with the prospect of such assets being taxed.
Liverpool beat Arsenal so great result and EPL drawing back the crowds. English cricket now needs to rethink its plans.
Today for the FTSE. Looks like a bit of action around VOD with rumours of a merger or takeover. Other than this FTSE likely negative at least until US opens so could end the day not so bad. If US drops badly again look for a big drop in the FTSE.
HBR today. No real idea, and as I said just a toss of the coin share. Oil/gas prices up so we may see a rise for HBR but risk/reward on this share is very negative and the support level of 350p is now breached. If your invested in petro's much better to put your money in BP or Shell.
All theory of course, and all have a lovely day, and for those, like laidback, who dislike my early morning posts just don't read em. Simple.
HC
Good morning on this sunny Saturday morning.
FTSE followed other world markets into negative territory and US failed to lift the gloom with Tech sector well into the red again. When will it end. No idea, but some analysts suggest this is only the start with doom mongers suggesting 25% correction in the coming weeks with the risk of higher interest rates upsetting the markets. Bond Yields still on a roll with with small fallback but clearly indicates money is leaving the markets into safer havens.
HBR. What can I say other than another really bad week. Will it improve. No idea, but with oil coming off highs hard to see HBR improving unless we get some good news which appears in short supply. The Board hardly help this SP with allegiance only to the lenders with Shareholders back of the queue. Its a bit like the old PMO days but at least then we got some good days.
Crypto's getting hammered after Russia suggested they would make crypto trading illegal given it is destabilising the banking system there. Kinda means the Mafia there is using Crypto to buy and sell armament's, nukes, etc. Other countries are expressing the same views so expect a major world wide clampdown on crypto 'Banks'. Very high risk if you hold crypto or are thinking of buying, or selling, given its unregulated, so people will get burnt and those clever enough see crypto as having zero value.
Next week. Could be much of the same I'm afraid with solid stocks holding but overvalued stuff again under the cosh. HBR. No idea.
All have a lovely weekend.
HC
Good morning everyone on this sunny Friday.
The bad week for HBR continued Thursday. Clearly the MM's are not behind this stock and see risk/reward negatively so unless this Board put out a stellar RNS nothing will change, and if bad RNS then anything could happen to the SP. The price of oil/gas means little to this stock that just has a mind of its own. Day traders maybe making money but otherwise forget it we're back to 17.5p old money. Oh for the PMO days when at least we made money.
What's with the 'seal' story on Tolmont. As Jeff and others point out I thought the issues were electrical. If we add this to Covid problems are we to assume an 'on-line' date for Tolmont is now unknown?
As I write Asia well down following a bad day on the Dow and Nasdaq that both reversed early gains which suggests the sellers are 'dumping' stocks on any bounce . FTSE held up Thursday not too bad but today could be ugly.
Oil dropping from recent highs and Gas under pressure. Gold down a tad. Bond Yields flying reaching 1.9% so $ best bet bet and new media rumours on Boris demise so see £ go either way. Another interest rate rise expected for Feb in UK, and Fed will be aggressive on rates after 'closed period' expires. What cheap money is available is being 'swept' up by the Banks before it becomes expensive so their margins will improve in future months when they lend out to Mortgage holders, et al. Sure our interest rates on savings will not go up much.
Crypto's now falling off a cliff after 30 support breached. Tough call to now guess a 'bottom' but if you own Bitcoin or any crypto be nervous times 4sure.
Russia looks on the brink of invading Ukrain and this will really upset the markets. US shifting weapons systems into Ukrain as is NATO so brinksmanship in play today when NATO and US meet with Russian counterparts.
Omnicron now playing second fiddle to other world events but still causing havoc across the world.
Travel stocks will suffer with the 5G issues coming out of the US with BA cancelling all US flights. Why exactly is a mystery 5G has been in play for awhile. The Cruise Sector is kaput for a couple of years. I got an offer on my NZ Cruise that was cancelled. If I hold the booking they will upgrade me to a 'suite' for free. When is anyone's guess but until Covid is well beaten I ain't going on a Cruise ship.
Today for HBR and the FTSE. Could be a bad witching Friday for both. If US futures go positive could help but my guess is a big early drop in the FTSE. If US bounces we may see the day end up so so.
All theory of course and all have a lovely Friday. Those that dislike my posts just don't read em. Simple
HC
Plebs.
I think your correct, and this would explain why Asian markets are doing well today after the US falls overnight. The Chinese property market is presently in freefall, and my guess is China cutting mortgage rates will be copied here where the property market is also in trouble with negative equity and high debt ratio's now the norm. The impending collapse of outfits like Evergrande, and even if they don't fail, means foreign Bond Holders will get 1c on $ if their lucky so the Chinese Government have replaced these lenders and eventually I think the whole sector will come under Government control and foreign investment into China as a whole will effectively stop and if you have foreign assets or investments there then tough luck.
Financial rules and regulations in this part of the world sadly do not work as they do in the Western parts of the world.
You have a nice day.
HC
Good morning to everyone on this sunny Thursday.
Wednesday was yet another bad day for HBR. Why, no idea given oil price remains at 7 year highs. Tolmont, maybe. Debt, maybe. Bad news, possible.
As I write Asia is up which is a surprise following US reversal yesterday with the Dow down nearly 1% and Nasdaq now firmly in 'bear' territory after a 10% drop since the start of 2022. Tech's getting hammered with strong rotation continuing from these overvalued stocks to solid undervalued stocks like Banks, Industrials, Petro's, etc.
Oil holding steady, with Gold down. Gas again mixed. Russia kinda given the green light to 'partly' invade parts of Ukrain is a worry and will impact the markets if it happens. $ still best bet on currencies but £ ok with Boris looking safe for now and Starmer and his ilk in retreat.
Crypto's still on the downside but 30 support level still not breached. Risky at best.
Today for HBR. No idea. Has anyone really any idea where this SP is going. A guess would be that there is bad news out there but this is just a that, a guess. There appears no appetite for this unloved share at whatever price. It will 'tank' if there is bad news on Tolmont, or anything else. The Boards disdain for investors is reflected in the fact that they don't feel it proper to put out a headline grabbing RNS saying they believe the SP is being unfairly targeted, or undervalued.
A question. What is the true value on 'shorts' now in play against HBR as this normally gives good guidance on where the SP is headed.
FTSE today. Could go either way with Asia up and US futures suggesting the Dow may bounce after recent falls. Solid UK stocks should recover with Banks and Industrials a good bet but Tech likely following the US pattern of risk/reward and dropping on overvaluations.
Inflation is now taking over from Omnicron as the biggest negative factor to the markets. At some point interest rates will rise and the spike in Yield Futures suggest higher rises are now expected. If you have a mortgage best to lock it now before things get expensive.
All theory of course and all have a lovely Thursday. Those that don't like my posts just don't read em. Simple
HC
Good morning on this sunny Wednesday.
Once again HBR retreated Tuesday even though we have 7 year highs on Oil prices, etc. Its hard to see this as anything other than a 'dog' of a share with risk/reward clearly to the downside with no good RNS from the Board who appear to adopt the 'stick your head up your ass' approach as far as investors go. Hardly inspiring when they refuse to even reply to most shareholders emails, etc.
Moving on. As I write Asia/Aus in the toilet following US sell off yesterday with the Nasdaq entering 'bear' territory on the drop so far in 2022. FTSE suffered a drop after Monday's bounce and followed US lead. Sentiment on Bonds, yields, inflation, wage rises, and imminent rate increases is spooking the markets.
Oil continues upwards, could we get to $100. Gold still a good hedge but no major moves. Gas will rise with Russia building up forces on the Ukrain border and not listening to the US or Nato but Friday a crunch meeting. $ still best safe bet currency with £ a bit iffy but clearly Boris now has Starmer on the back foot over boozy parties so I would be surprised if he resigns. Far more important things for Boris to deal with.
Crypto's have little support with Spain the latest to introduce new regulations on crypto ownership. Still above the 30 support level but could breach that at any time.
Today for HBR. No idea. I read 'overhangs' and 'protected holdings' from the PMO days but those holding these shares are not upping their % at what some say is a bargain buying price now. Not sure I fully understand what this means but if the market is going to be 'dumped' with millions of HBR shares at any price its hard to see the SP improving beyond the 20p old money range. Add Tolmont , divi confusion, Capex unknowns, plus the 'smoke and mirrors', makes it hard to argue that HBR is a good investment. Ok Barclays guide price 570+ flatters, and I think 350p is more accurate from other brokers. If we get bad RNS then this share could be seriously damaged.
Others post amazing oil/gas volumes produced by HBR, plus amazing FCF numbers, plus amazing returns once forward hedges expire, etc, etc, and the suggestion that HBR is a sure fire winner. If it was that simple why is this share still sub 20p and not double, or more, than what it is today whilst are other petro/gas companies SP are 'flying'. Logic suggests the MM's know far more than the regular investor and view HBR as 'high risk' and see HBR following the PMO game plan that could end up with HBR shareholders again massively diluted.
Today for the FTSE. Could be painful until the US opens with US 'futures' up after yesterdays rout so its possible the FTSE will get a late day bounce.
Omnicron still rampant but slowing in some places although this could be a false dawn if we get another Covid variant as seems likely.
All theory of course, and all have a lovely Wednesday,and for those that don't like my early morning posts don't read em. Simple.
Hi Baccs me old mate so you are still out there in Muppet land.
Exactly what is a 'twit' . Is this a word that expresses joy, or anger, or a bird sound. Do tell.
I have to ask. Did you follow up on my warnimg yesterday on Darktrace because I know your exposed to them because you brought a couple of shares at 470p++. The 'shorts' on Darktrace look pretty serious to me so I would sell. Hanging on with 'hope' sadly will not work as HBR proves.
Might I suggest you try and avoid investing with the 'grown ups' for awhile because its obvious your not very good at decision making which is critical. Knowing when to sell a 'dog' share is as important as knowing when to buy a share.
Anyway, you havd a lovely Tuesday and keep up the meds.
HC
Tough day Monday for HBR. With no logic other than unloved and risky share with better options in petro/gas sector.
As I write Asia mixed with US market closed yesterday but FTSE did well.
Oil and Gold up. Gas iffy of peaks. $ doing better with £ steady.
Crypto's still heading lower and support at 30's looks suspect and below this could plummet.
Today for HBR. No idea. Pointless saying it could bounce as even with oil prices rising the SP is going backwards and still sub 20p old money. Risk/reward is against this share doing anything positive until this Board stop the 'smoke and mirrors' game.
China is in full retreat on Omnicron now saying overseas parcels are bringing it into China. Very likely but on that basis even ATM's are risky.
All have a lovely day and for those not enjoying my posts don't read em. Simple.
HC
Hi Baccs me old Dumb Muppet mate.
I nearly missed your 7.07 early Saturday morning message. Do you have nothing better to do on Saturday morning, just vent your spleen on the HBR screen. This is very sad and troubles me. I did try and give you some friendly advice last week about having a serious chat with your psychiatrist over your obvious fixation with me. Obviously you didn't do this given your inane repeated comments early Saturday morning. If you don't want to chat to your psychiatrist might I suggest you up your meds, it may help.
A bit of friendly advice. I know you brought a couple of Darktrace shares at 470p+++. News over the weekend suggests there is a new 'big short' on Darktrace with the 'shorters' saying accounting irregularities is their reason for 'shorting' the stock. Could be just nonsense but the markets get nervous when they see this kind of information.
Anyway, you have a lovely Monday and just go for a walk and get some fresh air. You can't stay in that darkened basement forever. Its a long time till you go on hol's to Butlins, ok.
HC
Good morning everyone on a sunny Monday morning. What can we expect this week for HBR that actually held up well last week but remains sub 20p old money.
As I write Asia/Aus mixed after US sell off Friday with the Nas Tech taking a bashing with rotation to quality low valuation stocks continuing. US Banks continue to be the standouts with forward capital growth now accelerating so a pretty good bet with good dividends well covered and the era of cheap money is ending 4sure. Energy and petro/gas also doing well.
Oil price continues its rise with Gold up a tad and Gas up again. $ weaker with Treasury yields on the up with rates expected to rise Feb/Mar. £ weaker and Boris ain't resigned so could be a tough weak for the £.
Crypto's. Looks like the 'false dawn' is disappearing and yet more regulation in the 'pipe' on crypto 'banks' with talk of CGT on crypto holdings. Outright ban is my guess in the future with most Governments introducing their own crypto's similar to the Yuan Wallet now widely used in this part of the world.
Russia playing hardball on Ukrain could turn ugly and rile the markets. It appears top property players in China are being sucked into the Evergrande problems with Bond defaults likely, or happening already. China is also battling to control Omnicron surge with more than 25m in lockdown and only weeks away from Winter Olympics. Xi also clamping down on big social media and tech platforms which will affect US listings of Chinese companies already being told to de-list from the US Exchanges.
This week for HBR. No idea its the unknown and unloved stock but could bounce on oil/gas prices with day trades in/out. I've read other posts about the share overhang. When will this be 'dumped'??. FTSE could be flat with defensives possibly doing well. Expect some action around Darktrace with a 'big short' exposed over the weekend linked to suspect accounting methods. Lloyds announcing a 1 billion share buyback will enhance the SP. Energy sector should do well with standout for me being BP and CNA.
Omnicron still the big unknown factor for world markets. Western parts of the world seeing it peaking but here its just getting started and already indicators suggest the Chinese powerhouse is slowing rapidly that will feed through to other world markets.
All theory of course and for those that hate my early morning musings just don't read em. Its that simple.
All have a lovely Monday.
HC
Jeff
Politics aside. If you get rid of one bad apple what do you replace it with just more bad apples.
You could use this analogy with HBR who replaced PMO. Same crooks just a different name.
Have a lovely weekend.
HC