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Since October 1995

Wednesday 12th June 1996

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International:

Australia's biggest company, BHP Ltd, faces a potential damages bill of Au$500 million after settling out of court with Papua New Guinea landowners. The David and Goliath tussle reminds me of the war raging on the Internet between *MacDonalds and a couple of greenies. Seems like the Big Mac is losing that one too!

Anyway, getting back to the BHP/PNG battle in the courts, the masterstroke came when the PNG landowners took their case to Melbourne instead of having it lost in the courts of "back of beyond". The damage to BHP's reputation as a good corporate citizen because of the poluution it caused through the tailings of the Ok Tedi mine was instantaneous. The Australian media covered every gory detail, there were current affair programs that went to Ok Tedi to see for themselves. BHP has no where to hide and started to wilt.

Then a most ingenious step, allegedly masterminded by BHP, was attempted. The PNG courts ruled that any PNG national taking court action outside the country would be breaking the law. Well, you could have heard a pin drop when the finger was pointed at BHP for that one.

Good to see the little guy win for a change!

*This site was a Global Hero in 1996.

Getting to big guys, and very few are bigger than Kerry Packer, it appears that his consortium now controls Australis and Galaxy Pay TV. The Au$200 million funding package was accepted by the shareholders who, quite honestly, had little choice if they didn't want to see the company go down the gurgler.

The kids were back it again snapping at each other's heels. Telstra, a partner in News Limited's Foxtel, claimed yesterday that the meeting breached listing rules, but did not proceed with a threatened court injunction.

Me thinks these guys are getting all too predictable, (stiffles yawn).

Political:

Prime Minister John Howard is going to sock the states for sales tax. The savings to the Federal Government are expected to reach Au$1.2 billion per annum. Well, let's be fair he is going to give some of it back to the states when they meet later this week with the Prime Minister. About half - it has been intimated.

The bombshell came at exactly 3.15pm yesterday afternoon when the Federal Treasurer, Peter Costello, announced that from that moment on all states and local government authorities would pay sales tax on cars (about Au$6,000 per car). The response from mayors and state ministers has been immediate. Brisbane Mayor said that the flow on to rate payers would be about Au$12 per annum and Joan Sheldon, the Queensland Treasurer said that it would make it difficult for the states to retain their current level of services to the community.

Seems like the Coalition's honeymoon is over...

Business:

The BHP pay out to the landowners at Ok Tedi in Papua New Guinea will be made up as follows:
Interesting that BHP shares surged by 16 cents to Au$18.74c after the landmark decision. Not surprising when one looks at the damage being done to the company's reputation as the saga continued and the Au$4 billion compensation claim originally demanded by the land owners through lawyers Slater and Gordon.

Sport:

The referee who was slammed for his one-sided decisions at the state of origin match played on the 3rd of June in Sydney has been given the chop. David Manson who was the top ranking referee in State of Origin matches was slammed by the coaches in both teams after the second match.

Social:

The price of bread in Queensland is to rise by 10 cents a loaf in line with an increase in flour prices. This will take a loaf of bread from Au$1.90 to Au$2 per loaf. The higher prices are expected to flow onto breakfast cereals etc..

Personal trivia, from the global office:

Another beautiful day in the global office. We have just purchased the house next door at 69 Atkinson Drive, also on the Brisbane river. We anticipate turning part of the house into offices overlooking our beautiful river.

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