Redflex Profits Down 92%


Redflex doesn’t seem to understand the art of negotiation. They recently rejected an offer from Toll Road Operator Macquarie to buy their company for more than it’s actually worth, hoping to spark a bidding war. That part was laughable enough, but after releasing their Fiscal Year 2010 (FY2010) earnings report, you’ve got to wonder what they’re putting in the vegemite at Redflex HQ.

Profit is down 92% according to their own  report. Let’s get this straight. NOW Redflex execs think companies will be lining up to buy them for much more than they are worth? That makes about as much sense as a screen door in a submarine.

We know water swirls the other way in the land down under, but the last we heard, money still goes in the same direction.

At this point it’s becoming clear what needs to happen. The first would be drug testing for the Redflex brass, of course. But secondly it seems so much damage has been done to this scam peddler with bad press that it’s our duty to auction them off to the public, one scrap metal birdhouse and video camera at a time.

Do we have an opening bid on the soon-to-be decommissioned scameras at McDonald and Tatum?

8 Responses to Redflex Profits Down 92%

  1. photoradarscam says:

    Not sure how they expect legal costs to be less in 2011. They are still looking at big lawsuits in SD, MO, AZ, and other locations, in addition to others that are in the works… in addition to the campaign expenses they’ll incur trying to hold on to their established programs in cities where they have ballot initiatives.

  2. Not to mention the fact that all their tickets issued from 1997-2008 are still in question due to the admission by Karen Finley that they were operating with falsified FCC documents.

    • Lolz says:

      Wait wasn’t she just talking about the vans? Don’t the permanent sites use ground sensors which I’m pretty sure has nothing to do with the FCC?

      Makes one wonder what othe outrageous CameraFraud statements are bold face lies?

  3. Stop Stealing from People says:

    DP$ Department of Plundering by Statutes

    DPS is nothing more than a Gang with goofy straw hats, fancy cars, and pressed uniforms competing with other gangs with fancy cars, and pressed uniforms.

    Enough already.

  4. Stacey says:

    Class Action Lawsuit

    All those wishing to join a class action lawsuit against Redflex and the City of Phoenix for defauding the public, please write to sherandbearit@gmail. Once we are able to gain enough support, we can implement the lawsuit.

    http://www.westvalleyevents.com/2010/08/class-action-lawsuit-redflex/

  5. Stacey says:

    That e-mail address above should probably have a dot com after it.

  6. Stephen says:

    I will bid $100.00 provided a STEAMROLLER IS PROVIDED.

    I want to hear the CRUNCH as I FLATTEN THAT SCAMERA ONCE AND FOR ALL!

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