TSX:CUS.DB.D - Post by User
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00STSon Jan 14, 2014 11:20am
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Post# 22089070
RE:RE:RE:RE:cost overun
RE:RE:RE:RE:cost overunYes, that is what should be asked - first off, how did they get it so wrong and secondly, were the contracts not awarded based on competitive bids with fixed pricing. Ok, there can be some unforseen circumstances but there was no indication that was the case here. So, how do we go from 225 million to 315 million with no signs along the way that things are going off the rails and no opportunity to warn the market that things were not as originally stated? Did this 40% suddenly appear yesterday?
Gross incompetency and failure to disclose material news as that information was available to management. Who else was aware of these ongoing problems during construction and traded based on that?