Thursday, 23 February 2012

The staggering State

Following the Bartlett tsunami the Premier has managed to point the State in roughly the right direction from a budgetary aspect although she is still being sparing with her analysis of our predicament if the media release (here) which accompanied the release of the State’s Mid Year Financial Report MYFR is any guide.

The Premier is struggling to send a positive message when she reverts to the old line that “the Report showed the Government remained on track to avoid going into net debt”.

Most readers would draw the fairly obvious conclusion that we are net debt free.

But nothing could be further from the truth.

In a week when forest protesters were severely chastised for their lack of truth one may have expected the Premier to choose her words more carefully.

Thursday, 16 February 2012

Ta Ann as saviour

Malaysian owned Ta Ann was lured to Tasmania with grants and assistance ostensibly to add more value to native hardwood timber than the woodchipping option.
The company now finds itself at the centre of heated public discussion about the possible over cutting of native forests. Environmental groups have take action to disrupt market to bring pressure to bear upon Ta Ann.
Your correspondent Wishy asks: “what evidence do the MLC’s or any other Ta Ann supporters have that NGO information campaigns are actually what has impacted Ta Ann’s profitability and led to the shut down of capacity? Has anyone looked at Ta Ann’s financials in this regard? Are they available for scrutiny?”

Saturday, 11 February 2012

Last roll of the dice

The capital raising proposal soon to be presented to shareholders represents Plan X for Gunns Limited.

If the previous plans including closures, layoffs, looting IGA funds and asset sales had worked there would have been no need for Plan X.

But they didn’t.