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<pre>Thanks Phil,

I also watched the documentary yesterday lunchtime on the ABC (major govt.
funded national public broadcaster in Australia) about the Australian olive
industry. The ABC is a quality public broadcaster (like the BBC) for those
reading this note and not familiar with TV here.

I missed some of the show due to children, but it would be interesting to
hear what others in Australia thought about the documentary.

One comment.

One point that I noticed was the difference in projected profits being
peddled in TV commercials here, and and in the prospectuses, by some of the
big olive growing companies that are planting hundreds of thousands of
olive trees. Barkworth, Koorian and a few others mentioned on the
documentary pushed returns of about 25 per cent a year, and appeared to
charge very heftly management fees (fees that probably wouldn't be
acceptable with mutual/managed funds in Australia or most other countries).
The Coonalpyn project was the only company mentioned with more moderate
(and probably reasonable) projections - about 15 per cent a year. I have
no knowledge of any of these large projects beyond this - you might find
some information on the web (if you are inteested).

More sober Australian research on the olive industry suggests that if you
are getting a return of 10 - 15 per cent from olive oil (on a broadacre
scale) in your first decade or so, you should be very pleased with
yourself.

One thing I took away from this very good documentary was that there must
be some very optimistic investors out there (with deep pockets), and that
the myth and dream of the olive is a potent and powerful mixture when
peddled by financial/taxation planners, big companies, marketing-types and
'suits'. My warning bells were sounding.

Andrew

(By the way I have no interest of any sort in any of these companies.)
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