Things are looking bleak at Babcock & Brown. But will B&B’s confidence crisis prove fatal? And if you’re an employee, is now the time to quit your ship before it sinks?
Shocked staff at the Sydney-based investment house watched in dismay last week as B&B’s share price plunged 52% in two horrific days on the market. B&B’s banks are reviewing a AU$2.8bn loan and the firm is facing a potential fire sale of its international infrastructure assets.
A senior cull is also looming at B&B, which is said to be restructuring the boards of its funds and replacing several chairmen with independent directors.
Should besieged B&B chief executive Phil Green get the boot too? And should you bolt from Babcock before it all gets really bloody?
Throw B&B on the BBQ below.