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Wednesday 7th August 1996

International:

Political:

The national Triple JJJ network is reportedly to be sold for about Au$100 million by the Australian Broadcasting Corporation (ABC) following the Au$66 million cut to the government broadcasting service by the Howard government.

"These rumours and speculation are coming from outside the organisation. It's floating around in the music and radio industry," an ABC source said.

The way the on-air staff have carried on about the budget cut reminds one very clearly of the term "whinging Pom". As I have said before the ripples affecting their industry which was closeted and babied at great tax payers expense by the Keating government is nothing new to people in the real world.

Business:

Seems like everybody's floating their business on the stock exchange. The latest to join the trend is the Hoyts Cinema Chain. The Au$440 million float opens today with the company expected to raise Au$100 million through the float of 50 million Au$2 shares.

The offer is expected to close on August 28th, but sources claim that the issue could be fully subscribed much earlier.

Global Gripe of the day:

Bastards!

Telstra chief Frank Blount has predicted major changes to the way phone calls and Internet calls are charged within a year. He said that Internet calls should be timed rather than charged at a flat 25 cent rate.

"We have to do something... We can't have people on the Internet ring up for 25 cents and sit there for 24 hours... they tie up the whole exchange," Blount said.

Now from a monoplistic government business which treats its staff like numbers in a box (when your number is pulled up you are out of a job approch) this is a bit rich. After the bigger businesses like banks have been permanently on-line with data communications and no worries, now that Joe Bloh decides to have a go at a perfectly legit and cheap communication medium the hawks from Telstra try to knock-off the party.

This is the same ugly mob who for so long tried to screw up the Internet in Australia by not giving it enough bandwidth.

Well Frankie boy your shares and reputation could not hit any lower with me when you start talking about timing the length of time I sit on the net. I have an agreement with an Internet Service Provider and have absolutely nothing to do with you. Get off my trail little boy and go play in the sandpit.

Oh, and in the same breath this Yank import talked about knocking another 10,000 jobs by the 2000(on top of the 9,000 to go this year). Charming people these imports...

An excellent commentry by an Australian Newspaper journalist on this humbug is covered in the article Timed Net calls a goofy smokescreen.

Personal trivia, from the global office:

Another day in the big smoke, and in fact today I go much further, visiting the charming little Gold Coast strip with my good friend and business associate Barry Corrick. In fact Barry and I are having dinner together tonight while we pour over some plans and strategies...


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