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Since October 1995

Friday 7th February 1997

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Issues - The banking system under the spotlight.

International:

The sins of the 1980's and WA Inc seem to be coming to the fore - at last - yesterday we heard about failed tycoon Alan Bond. Today it is former West Australian Premier Brian Burke who is in court facing charges of stealing Au$120,000 from the Australian Labor Party (ALP). Burke, like David Parker (one of his senior ministers) kept thousands of dollars (Au$100,000) in cash in Au$100 notes in a calico bag in his office safe allegedly to buy stamps for his own private collection as well as a motor van.

When leaving politics under a cloud in 1988 Burke became ambassador to Ireland (thanks to his Federal Labor mates) and arranged to sell some of his stamps and the van to pay off his bank overdraft, the court was told yesterday. Burke has pleaded not guilty to seven charges of stealing over Au$120,000 from the ALP between 1984 and 1988.

The money apparently originated from Yosse Goldberg's Western Continental company - being part of a Au$300,000 donation. The evidence put to the court yesterday by prosecutor Brian Martin QC was that Burke had kept Au$100,000 in cash in his safe and banked only Au$200,000 in the "leader's account".

Burke's story is that he bought the stamps as an "investment" for the ALP, but he didn't tell anybody - this at a time when the ALP had to borrow hundreds of thousands of dollars to pay off state election debts. Yeah, go on Burky, pull the other foot. The disgraced premier has already seen the inside of prison for the sins of his actions in the 1980s.

The New South Wales Industrial Court heard a rather amazing story yesterday about a "little" man's experiences with none other than the almighty son of Kerry Packer - young James.

Seems that Australian Rugby League (ARL) star Anthony Mundine felt the brunt of young Packer's wrath when he went to discuss his future with the league - as he was considering signing with Super League. After Packer's tirade he signed with the ARL.

Player manager Darryl Mather described how Packer's tirade was filled with profanities with the "f" word being the prominent descriptive word in his dialogue.

"It's a f...... massacre. We've got 400 signatures," Packer is alleged to have said, "We've got players streaming in. They have been all day and they are booked for tomorrow. They (Super League) are absolutely f..... Allan Langer will be like Allan Border. Who f.... remembers Allan Border now? These bastards will never play for Australia again.

"Who do these f..... bastards think they are nothing without the ARL (sic)? You will never f.... get paid if you sign with those bastards."

ARL General Manager John Quayle then allegedly said to Mundine, "You will never wear one of these if you sign with Super League. We own representative football. If you want to play for your country stick with us."

Mundine is one of several players who are trying to break their contract with the ARL following Super League's successful actions in the courts to play in the 1997 season.

I guess this is one story that we won't see on Channel Nine's a Current Affair... surprise, surprise!!

Political:

The Labor Party put the heat on Prime Minister John Howard in Federal Parliament because of his forgetfulness over the Senator Bob Woods affair.

Howard said, "I believe I have been honest and open in my dealings, I did not set out to mislead the Australian people... I have nothing to hide."

Opposition leader Kim Beazley said, "It does beggar belief that the Prime Minister could have in discussing this issue... forgotten a briefing about a member of his executive and a person so close to him."

You say:

Subject: Backyard

I had a look at your "backyard" ths morning - looks great!

No where near as good up here in Townsville - but we've had some rain lately and things are greening up again.

Pauline Hanson must be becoming more than an irritation to the major parties now - can't even "control" their own party members - the hide of them!

But life goes on - we are a "passing parade".

I visit your site regularly to "read the news". Keep up the good work.

Regards,

Harry Loudon, CMC CPEng BE BCom

Subject: your newspaper

Date: Fri, 7 Feb 1997 01:10:06 +1100

Hi, I like what I see of your online paper. It's the only one I've seen that appears to support Pauline Hanson, whom I also support. well done.

Gray Hodge
Cam River Signs

Do not regret growing older. It is a privilege denied to many.

We unashamedly support Pauline Hanson as she represents the viewpoints of the average Aussie... not the narrow minded and highly orchestrated views of advantaged lobby groups and the establishment.

Subject: Poor Bondy

Dear Scott,

About 3 years ago the Bulletin produced its annual list of Australia's richest 200 people and/or families.

It included John and Craig Bond (Alans two sons). Their "net worth" according to the Bulletin was (if I remember correctly) $35 million. The Bulletin always adds a line underneath the figure that indicates the primary source of the wealth. This usually consists of property development, textiles, garbage collection or whatever. In the case of John and Craig the source was stated as "inheritance".

This was the first time that I have ever seen any humour (even black) in the "Rich 200" section of the Bulletin. I agree completely with your comments on the total inadequacy of the sentence.

Its a pity he had paid his parking tickets over the years. He would probably have received another 10 years for that.

Why did you have to mention Pauline again?

Jim Kornmehl

Subject: tales about Bond

Hi Ausie's viewpoint,

Are you aware that the $200 billion owed by Australia and classed as "national debt" includes "private debt"?( The Treasury Dept. readily admits it). Do you know that "private debt" includes bad debts owed by Bond and Skase, the "failed tycoons" of the 80s? Are you aware that international bankers (to whom Australia owes its "national debt") pressured Third World governments into taking over responsibility for private debts in their countries and calling them "national debts", thereby making Third World taxpayers liable to repay them? (See the book "Bad Samaritans" by Paul Vallely, pages 164, and 194). Has the Australian government struck a similar deal with the same bankers? Is that why "national" debt includes "private" debt? Are Australian taxpayers secretly responsible for the bad debts of Bond and Skase? If not why are private debts included in the "national" debt?

Regards, Graham

Business:

News Corporation lifted its profits thanks to the movie Independence Day. Sales rose in 1996 to Au$7.05 billion from Au$6.78 billion in 1995 with pre-tax profits at Au$807 million - a rise of Au$85 million over the previous year.

Sport:

Isn't it funny the papers are going to be full of Super League this year.... with barely a quote about the Australian Rugby League... what was it that James Packer said about Allan Border earlier in this web page?

Personal trivia, from the global office:

Gorgeous day outside.

Last night I talked to about 500 businessmen at the Carlton Crest hotel in Brisbane about making profits on the Internet. Young Alex Balson, the world's youngest Internet businessman, was there and took an active part when we talked about his commercial success on the Internet through the Koala trouble web site.

The talk was well received (thanks to young Alex). A summary of the talk about relationship marketing and a downloadable accompanying paper (IBM format is available on the net.

Thrown in for fun is a picture of the corellas and sulphur crested cockatoos gathering at the feedtable outside the global office yesterday morning.


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