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| Sunday, May 17, 08:43:57am | [ Login ] [ Contact Forum Admin ] [ Main index ] [ Post a new message ] [ Search | Check update time | Archives: 1, 2, [3], 4, 5, 6, 7, 8, 9, 10 ] |
| Subject: Guerilla warfare tactics blamed for ERG's woes | |
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Author: 07/03/2003"(Cubic) were constantly writing to all of the operators. They employed investigative journalists and hired PR firms. |
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Date Posted: Tuesday, March 11, 12:59:29am In reply to: Newspapers reporting result--March 7 2003 SMH 's message, "Noteholders have tickets to ride" on Thursday, March 06, 08:38:56am Guerilla warfare tactics blamed for ERG's woes 07/03/2003 Australian smart card company, ERG, has attacked US rival Cubic, claiming it waged a dirty campaign which caused significant delays at two key projects. ERG chief executive Peter Fogarty accused rival smart card developer Cubic of waging a "guerilla campaign" against ERG's much-delayed Sydney and Seattle projects. "We should have started the Sydney work in 2001," he said. "The project would be largely delivered now and we would have had a big chunk of money paid to us. "Seattle was delayed through a lot of guerilla tactics. "(Cubic) were constantly writing to all of the operators. They employed investigative journalists and hired PR firms. "There's been a bit of a war out there." The comments came as ERG finally achieved a financial forecast, its $124.9 million first-half loss coming within expectations. ERG acknowledged that there continued "to be significant uncertainty as to whether (ERG) will continue as a going concern". Mr Fogarty conceded the results were disappointing but said the company was focused on "our cash reserves and strengthening our balance sheet". ERG also revealed that it was in advanced negotiations to sell its Belgian smart card operation Proton World, despite controlling it for barely a year. Source: Herald Sun [ Next Thread | Previous Thread | Next Message | Previous Message ] |
| Subject | Author | Date |
| ERG breaks 10c as foreigners depart March 11 2003Banksys | .vote on a capital restructure could give the smartcard group's convertible note holders effective control. | Wednesday, March 12, 12:08:00am |