UOS 1.85% 55.0¢ united overseas australia limited

Fair enough. But it sort of sounds like your having an each way...

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    Fair enough. But it sort of sounds like your having an each way bet there, so to speak. On the one hand, your saying if things get bad, cashflows can really get hammered (i guess insolvency tends to be like that, it all sort of happens at once). But on the other hand your saying even if things get really bad it won't hurt the weaker guys that much (because of debt restructures etc etc).

    Well can you have it both ways? If loss of cashflow hurts, then it will doubly hurt someone that has debt to service. Surely, even if UOS cannot benefit from "firesales", it will be in a position to take advantage of zombie competitors that are under the yoke of their bankers?
 
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