THE DISTILLERY: Leighton devastation

Jotters dig into Leighton's latest downgrade, with one seeing Hamish Tyrwhitt's fate in the balance.

A lot more ink is spilled this morning over Leighton, which surprised the market with another round of big writedowns. Commentators debate who's to blame for Leighton's shocking downgrade – and whether there could be more bad news ahead – while another relays fears that Treasurer Wayne Swan might look to the mining industry to bolster the budget.

In The Australian, Tim Boreham reckons there are lessons in the construction company's hasty fall.



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