RE:RE:RE:RE:Legacy Project Settlements and ChargesI can appreciate there is some synthesis of imperfect information that we all need to do. Perhaps I am more critical to counterbalance the excessively-positive perspective that others may hold.
I have a significant stake in Aecon relative to my NW - we are in the same boat. In fact I agree that closing the CGL story was the right move. Get these bad projects off the books!
Why do I say that? Let's be direct: The business has taken multiple "additional" charges for these legacy projects, over the past handful of quarters. When questioned by analysts, management responds that (essentially) "the current quarter's charge represents mgmt's best guess as additional costs for these projects".
Now, that is simply the nature of the beast. And I don't blame management for it - rather I agree with their decision to cut ties with all these economically poor projects as quickly as possible!