If i were in a company making $100 million i am not so sure that i would be calling it a sinking ship?
If you've been following it closely,
VB announced 1st half profit of $113m for FY07/08 back in Feb, and last week said full year profit would not exceed $140m. So the company turned from $113m in 1st 6months, to possibly nothing or even a loss in 2nd half. It may even run at a huge loss in 2nd half of 08 with more E-jets and startup of V Australia.
The Australian economy has only just started to slow down, and there's already a sharp profit dive. How could the share price not have slumped?