Some inspired reporting from the AFR yesterday, touching on a Bank of Queensland guidance update:
“…the bank heartened investors by reiterating that impairment charges for the 2009 year remained in line with 2008, despite the rapidly slowing economy causing other banks to raise dramatically their own provisions for bad loans.”
This raises three important issues:
- The AFR clearly trains its journos well in avoiding split infinitives.
- Presumably if BoQ had cut their bad debt provisions investors would have been deliriously happy.
- If this constitutes good news I wonder what constitutes bad news?
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