Wednesday 26th February 1997
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Issues - The banking system under the spotlight. Mingaginda tribal elder Jane Karkadoo criticised the government's lack of action after meeting with the Prime Minister in Canberra.
She said, "They should act now becasue this small group of people are not going to come in and yet we have a wide group of people supporting us."
Ms Karkadoo was one of five Aboriginal representatives who met Howard, Aboriginal Affairs Minister John Herron as well as their opposition counterparts.
Ms Karkadoo blamed Murrandoo Yanner of manipulating the other claimants to the detriment of hundreds of Aboriginals.
Howard described yesterday's meeting as informative and constructive and said that amendments currently before the Senate would help resolve the situation. But it is too late for the Au$1.1 billion Century Zinc which is now locked into the bureaucratic arbitration system.
Relations between PNG and Australia plunged to new depths as the South African based Executive Outcomes mercenary group prepared themselves to assist PNG fight the Bougainville independence fighters.
A report released yesterday said that Au$142 million of the Au$320 million in aid given to PNG by Australia annually is used for "Budget support". This is on top of the Au$11.8 million of the aid which goes to support PNG's military.
Foreign Minister Alexander Downer said, "Had we been so advised we would have strongly councelled against such a move (of planning a mercenary strike against the rebels)".
PNG chief Sir Julius maintained his position that the mercenaries were there simply to provide training and logistical support saying, "You talk about mercenaries that we engage to go and kill Bougainvilleans. That's completely stupid. No nation would hire people to go and kill its own civilians. You'd have to be fools to do that."
Extensive political commentary and links can be found on Palmer's Australian Politics page.
Optus Communications council Jeff Sher said yesterday that Stokes' position as the biggest shareholder in Seven was seen by the other share holders as a "Trojan Horse" in the Optus Vision camp.
Sher said, "that 20% (of Seven shares owned by Stokes) had in turn a substantial relationship with News Limited.
"There was a Trojan Horse in the camp and matters had to be kept confidential for fear they would be leaked to the only real competitor of any importance."
If Seven can prove that the shareholders' agreement has been breached they will be able to compulsorily acquire the 98% of Optus Vision that they do not currently own for a bargain basement price.
In other News Limited's parent News Corp yesterday showed its financial muscle by putting over Au$1 billion on the table to secure a major share of US direct broadcast satellite operator Echostar Communications.
The new service which Rupert Murdoch will chair will be known as Sky and is expected to include seven satellites and offer more than 500 channels!
The new service will begin in the US early next year.
Another day in the big smoke ahead. Have a great day.
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