You guys need to get a life! Good on you teams Geon and FX! Don't let the minority impact on your positive initiative.

Some of you guys need to get a life!

Why, IW, do you insist I am a BS mouthpiece? Any impartial advice you deem as supportive, I dont get it.

Go find your little box of pills and start running around in circles again....

No anti-competitive discussions I hope IW...

I always get nervous when company executives and owners come together and talk shop.....

Not sure of the details of the case, but Directors have an obligation to all Creditors - and this is where it becomes a fine line. As a Director you MUST undertake all endeavours to protect all creditors interests - so a Director cant just shut up shop and re-open next day under new management unless the business is well and truly screwed.

The issue is when a business gets in trouble they will have accountants (and secured Creditors) advising them and pressuring them. Nobody likes to fail, so many people see a pot of gold at the end of the rainbow, and this is where the hole gets bigger and bigger. Basically our emotions get caught up and the pot of gold seems closer, bigger and guaranteed.

Very rare for a company just to go belly up - this will have been happening over months, even years....until eventually all implodes.

It is a nasty situation for all involved - and in all situations things could be done better. Hindsight is a wonderful thing. I do believe most (and I stress MOST) people have good intentions, and this often leads to us having an even bigger negative impact when it all turns to mud.

I have no idea of this company, nor the owner, but I do know others that have been through similar and it was never their intention to hurt those around them, but it all just became too big and uncontrollable...the pot of gold just never eventuated.

IW I applaud you - finally you can make a positive contribution rather than your normal cynical and caustic contribution.

Seriously good comment mate - I am impressed!

Agreed - almost never happens - unless it generates enough public interest - eg Skase and Bond.

They can do something about it. If Directors are found to be knowingly trading whilst the business is "insolvent", or even if they show preferential treatment to creditors whilst trading in a very poor state then the directors can face serious consequences - including heavy personal fines and gaol time.

The Administrator will provide a report post the "process" and from their recommendation further steps can be taken.

In reality though, it rarely happens - which is disappointing because if real consequences were realised cowboy owners and directors would "pull their head in"

On this, I am not saying that the Directors above have done any wrong, I have no idea what has happened.

Nice post FF!

Great to see some positive comments on this site.

Found this as a closing comment from an independent industry publication (quote) "It comes as Blue Star is bedding in the first HP T350 high-speed inkjet at Silverwater, a game-changing technology that plays an essential role in Blue Star’s Agile restructure. "

Now I see why you guys with 1000 years industry experience are scared - if this technology is a game-changer, then exciting times ahead....

Be interesting to see how the next 6-12 months go, and no wonder BS are driving cold-calling....this could be money for Jam if they have this right!

My understanding (and I have no Printing experience), but even 5 years experience is meaningless if you dont evolve with the market trends! This is why so many companies die off.

Back in the early 90's a company almost went bust due to its instance not to evolve.....but due to a radical externally focused reassessment (understanding the market) the company is now one of the global leaders...that company is Apple.

The last 10 years have seen quantum leaps in technology - yet the print industry gurus are raving about 100 years industry experience! watchandlearn have you noticed how many the most successful companies in the world have CEOs in the mid 20s - companies like Facebook..... Bill Gates himself did not have 30 years experience when he founded Microsoft....

100 years experience is only of value if the people have adapted....

$3 million worth of customers - I hope you secure them....being a betting man I bet you get less than 25% of it...... But you can preach to all cos we will never know...the only thing we can guarantee is that you are a going to throw stones at any company other than your own..... And that your opinion really counts for little - as it is just that, your opinion...