Mood:  d'oh

With the ABC Learning (no relation to ABC public broadcaster) share trading intrigue breaking in the news this timely backgrounder only last week, with selected choice quotes:

Insider trading rife in Australia | NEWS.com.au 23 Feb 2008

INSIDER trading is so rife in the Australian stock market it may be weakening the reputation of the local bourse, forcing the companies' watchdog to bulk up its resources in the wake of a poor track record in cracking down on the practice. ....

"It is frustrating and commonplace to see informed price movement happen before announcements,'' Peter Hunt, principal at boutique investment bank Caliburn Partnership, told the Australian Securities and Investments Commission Summer School yesterday.

"There is greed and short-termism that is pervasive, and getting worse.'' ....

"We are concerned that insider trading is at a level that is a major issue for the market,'' Balanced Equity Management managing director Andrew Sisson said.

....He said in the 40 days before an announcement, a target's share price would rise on average 10 per cent.

"In the very last day there is a spike of about 3 per cent typically,'' Mr Sisson said.

"This is partly rumours, partly straight insider trading. It's fair to say that a significant level of insider trading is detrimental to our market.''

.... Gresham executive director Jenny Seagate said 2007 was "a year when insider trading was on the rise''.

..... "For many market practitioners six-figure fines are relatively small, although it is a lot of money to most people.

"Let's seriously think about decent seven-figure sums.'' ....

Peter Hunt's ways to cut insider trading
* The secondment of staff between ASIC and the private sector
* Better data about insider trading
* Measuring the performance of the regulator against the data
* Handing ASX's supervisory powers to ASIC to create a centre of excellence
* Improving and speeding up the litigation process
* A specialist markets tribunal made up of market participants of "good standing"
* Financial rewards and immunity from prosecution for whistle blowers
* Plea bargaining and civil penalties with $1 million plus fines
* Give compliance officers a statutory duty to report directly to ASIC if they see or suspect suspicious behaviour

Posted by editor at 10:05 AM EADT

Updated: Thursday, 28 February 2008 4:42 PM EADT

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Mood:  vegas lucky

Oh my god, live to air, a Wollongong developer called "John Canelli" as we heard it. As sometimes happens his mobile phone rang during the interview and he was caught mid stride passionately defending his development industry sector. Otherwise no great significance one would think.

Then it happened, a tune wafted over the airwaves across all of Sydney like a scene from the excellent Shawshank Redemption - not ethereal opera but his ring tone theme from The Godfather pseudo docu-drama about the Sicilian Mafia, not to be confused with the Camorra from the Campania region of Italy.

No wonder Deb Cameron felt "lucky". It's a scoop and quite bizarre electric broadcasting. Andrew Denton's enough rope modus operandi has struck again.

Next interview by direct comparison was intrinsically honest former NSW Auditor Tony Harris. Oh how the fates have combined. Then a good Samaritan bikie, then an ocean rescue of a fisherman. What a morale booster for the still fairly quite new radio jock Cameron. Bravo. Who would have thought Big media reptiles could lose so good by comparison:

And moderate ABC sledger Joe Hildebrand has the page 1 byline on the Sydney Daily Telegraph today with more tough love on government integrity. One feels the 4th Estate have got up on their hind legs (!) and have been doing their profession proud this fortnight, and so much praise here for that.

So enjoy this sublime Mozart here, you earned it via "Andy" aka actor Tim Robbins

     YouTube - Andy plays Mozart

And especially this thrilling part, turning the volume control ... even higher.

..............

Postscript #1 29 Feb 2008

Posted by editor at 8:40 AM EADT

Updated: Friday, 29 February 2008 9:06 AM EADT

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Mood:  sad

This cut and paste from the layout of the Herald opinion pages yesterday indicates the tragedy of our times: Increasingly existential threat to society correctly identified by economics editor Ross Gittins from dangerous climate change and yet the Herald editorial proper commitment to growth of the energy sector with

"in a state that expects rapid population growth, and corresponding economic growth, in coming decades"

Talk about disjunction. It's the tragedy of our times and maybe of all time. About 12 years left if you read Gittins closely , and factor in the best scientific advice coming through the mass media, indeed breaking through the market based ecnomic filters.

A market failure which is the tragedy of our time, and probabaly of 4 billion plus years of evolutionary ecology:

..............

Earlier today we wrote here:

Rally for public power assets in public hands

This is a real mind bending situation - no doubt about it. One thing capitalism does well is creative destruction of a sunset sector tearing down assets ..... no doubt about that. But in the case of restructure of a major major major profitable natural monopoly I strongly suspect the capitalist free market model won't work to achieve this renewable energy outcome that all thinking people unionists, and greenies want.

That is a high employing solar and wind and geothermal and wave etc energy sector.

The reason is the ability to make money from dirty energy via abundant coal is just too easy with huge momentum right now. Why close a big coal power station with all that huge private profit?  There just is no financial incentive, rather there is every incentive to just run it into the ground cutting safety, and higher mechanisation and less jobs and ramp up production until it busts in terms of equipment or government carbon regulation.

That's a recipe for ultra production of dirty energy. What we need is a hypothecated restructure where the profit centres in the business, namely the retail side (not the negative high maintenance poles and wires which they couldn't sell if they tried), into those renewable energy agendas.  That is publicly subsidised transfer and restructure. That's far better done with public control just as JK Galbraith exercised control during the crisis of WW2 for the US Govt (winning two US presidential medals of freedom as a giant of the political economy).

This sell off agenda ever since 1997 has been a naked attempt at hiving off the profitable section to big business mates just like profitable 380 bus route with a private heavy rail link to Bondi, socialise the costs by closing the 380 down, and all the other bus routes cross funded by the 380.

To think such big big big restructure can follow without sufficient ownership control is just a little too wishful given corporate ability to cook political policy with money politics - they will use that dough to sabotage and delay the scale down and replacement - saying China and India aren't doing it so we ought not, we will have blackouts, we need more not less power for the growing economy etc. In other words no renewable energy switch at all. All that grubby money, all that cheap coal.

A public interest centrally planned economy is in fact a good model for big big big public interest problems, where the profit motive is way secondary like a time of war itself. Ross Gittins/Herald article yesterday when you read it carefully is shocking. And totally contrary to the editorial same day in direction really. He is saying we have about 12 years until the end of the world and the human project way over 450 ppb of CO2 equivalents. In short we are fucked without massive massive intervention into the market and that means walking away from corporate hegemonic control of our economy with its growth fetish.

In other words fuck off private equity etc corporations including in the energy sector, we prefer the planet and a future to the money. And yes it does mean loss of easy short term funding. It is a big sacrifice with alot less lolly money. But it is also crtiical to a sustainable future for a publicly driven economic restructure. Even the Catholic Bishop of Parramatta seems to have added his voice. Incredible really.

Posted by editor at 8:16 AM EADT

Updated: Friday, 29 February 2008 8:11 AM EADT

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Mood:  quizzical

But Andrew Clennell is of rival Sydney Morning Herald is also in the hunt for a Walkley with this story in full below which was on their webpage until earlier this evening, and is still searchable online, but off their main page now it seems. Is this the result of legal pressure?

We feel it needs to be copied and reposted, just to be sure it remains in the public domain. For though Quentin Dempster argues on ABC TV tonight there is no evidence yet of proximity between donations and decisions, we submit that is not the only test of correct governance.

 Rather we say another is that but for the position of power, would the request for support for say a fundraising dinner, or a donation direct, have been given? If not then that's use of the ministerial position for a personal party political benefit. In short a protection racket - the implied threat is you will donate or else take the consequences. It starts to look and feel like "the joke" as corrupt conduct has been known as previously.

That's the allegation in Clennell's story and Iemma hasn't answered it, except in fact to admit he has "participated" in fundraising. Iemma is a lawyer. He knows or should know from 1st year contracts at law school about "undue influence" and "unconscionable conduct" thus invalidating a legal agreement. What about in the extra ministerial activities of a senior politician: Even if it can be argued as not the intention to leverage the portfolio for donations, then what about the effect? Does every interest group except the minister think there is no pressure to donate?

Clennell is asking the right question, as per the strong front page story in the Daily Telegraph by Joe Hildebrand pictured above about Minister Sartor. Sartor can say until he is blue in the face there was no connection between donations to the Party and his planning decision but what of the effect on the giver(s)? Did they expect a quid pro quo? And what about the other story of canvassing for a fundrasing dinner to developers who needed Minister Sartor's discretionary support? That's the same undue influence question directed at Premier Iemma with no convincing answer to date.

We have no hesitation in saying those developers had no freedom to refuse the minister's clammy embrace if they wanted to do business, and the Greens are right to call it "inappropriate". Protection racket would be another term.

..........

http://www.smh.com.au/news/national/iemma-evades-question/2008/02/27/1203788408232.html

Mr Iemma ... dodged the question.
Photo: Bob Pearce

Andrew Clennell, State Political Editor
February 27, 2008 - 12:17PM

NSW Premier Morris Iemma today refused to answer whether he has ever personally telephoned interest groups in his portfolio responsibility areas as a minister or premier to ask them to attend fundraisers, as the storm over political donations to the Labor party grows.

Mr Iemma's evasion of the question follows Sydney Morning Herald revelations, which have been referred to the Independent Commission Against Corruption by the Greens, that during a phone call Planning Minister Frank Sartor asked the chief executive of Stockland Group, Matthew Quinn, to book a table for a fundraiser.

Stockland at the time had several applications before the minister.

Yesterday in Parliament Mr Sartor refused to deny the allegations.

He has previously said he has "no specific recollection" of the conversation.

Mr Quinn has not commented on the alleged conversation.

Mr Iemma was asked today: "Either as a minister or as the premier have you ever telephoned any interest group within your portfolio responsibility and asked them whether they were attending a fundraiser?"

He said: "I've participated in fundraisers in the past, I've participated and attended fundraisers as the premier, as the former prime minister has, as have other ministers, shadow ministers and indeed the leader of the opposition is attending one on Friday and never [have I had] any improper association, conduct as a result of attending fundraisers or being involved in fundraisers."

Journalist: "When you were a minister or the premier have you ever telephoned an interest group within your portfolio responsibility and asked them whether they were attending a fundraiser?

Mr Iemma: "It's the same question you just asked me and I just provided you with a response."

Mr Iemma also defended Mr Sartor and appeared to pre-empt the ICAC finding concerning Mr Sartor, saying he was a man of "integrity".

He told the journalist:"If you're alleging corruption on the part of the minister for planning, do so, lay the allegation, face the consequences of the libel suit that comes.

"If you're alleging he's acted corruptly, in a matter that is before him, lay it and face the consequences of the libel action."

Posted by editor at 8:03 PM EADT

Updated: Wednesday, 27 February 2008 8:55 PM EADT

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Mood:  don't ask

  

Veteran Alan Ramsey took a swing at Dick Honan (pictured above) of the Manildra corporation way back 2003 here:

A disgrace of the old school - smh.com.au 16 Aug 2003

Here is veteran Michelle Grattan back then too:

It's not assets, it's access - theage.com.au 17 Aug 2003

Lateline ABC reportage here of similar vintage:

Lateline - 11/08/2003: Labor attack Govt over Honan ethanol deal ...

Over at the Big Commercials, then Finance Editor Michael Pascoe with Seven Sunrise dishes the Big Money gossip back in Sept 2004:

Michael Pascoe, Finance Editor: While Sunday Sunrise's transmission was interrupted by the Olympics, some amazing business stories were playing out.

Inevitably in a particularly busy period, some extremely interesting details have been largely overlooked - details such as Dick Honan, chairman of Manildra Group, threatening John Pascoe when he was chairman of George Weston Foods - and John Pascoe apparently yielding to that threat - effectively, corporate blackmail.

He is of course no relation of mine.

Now that's the same Manildra Group that is the biggest single donor to the Liberal Party, the company that the Federal Government turned itself inside out to help over a little matter of ethanol. Yes, that Manildra.

George Weston also is a major contributor to the Liberal Party's coffers - some $600, 000 over the past five years. As either chief executive officer for 15 years and more recently as chairman, one might suspect John Pascoe had a say in that.

There's something else worth knowing about George Weston - aside from making Tip Top bread, Golden Crumpets and various biscuits, it's also a serial abuser of the Trade Practices Act with a particular taste for price fixing.

Four times its been hauled before the beak and fined for price fixing and associated matters - most recently two weeks ago when it copped the one and a half million dollar fine the ACCC asked for - and the ACCC has been criticised for not seeking more.

The actual fine was reported by several newspapers - but only the Australian's court reporter, Vanda Carson, picked up the apparent corporate blackmail story in Federal Court judge Roger Gyles' scathing judgement.

Otherwise, it fell through the cracks until the Sydney Morning Herald yesterday ran a riveting feature by Elisabeth Sexton, albeit well back in the paper.

Justice Gyles' judgement is itself a fascinating read - but let's just stick to the corporate blackmail bit.

A George Weston director, Paul Loneragan, had rung Manildra executives to suggest increasing the price of flour - price fixing.

Dick Honan didn't go to the ACCC when he found out about it. He went to John Pascoe because what Honan wanted was to stop George Weston importing gluten. Oh, I should have mentioned, gluten is another product Manildra dominates in Australia.

According to Honan's own extraordinary evidence, he told Pascoe he would go the ACCC about the price fixing unless Pascoe agreed by 5 pm to stop the importation and re-export of gluten.

As Justice Gyles puts it:

"Later that day, Pascoe informed Honan that the commercial matter was resolved in the manner sought by Honan."

Pascoe didn't go to the ACCC either. He did sack Loneragan, but with 12 months pay. And George Weston re-employed him as a consultant the very next month. Justice Gyles makes some interesting comments about that.

As it turned out, some anonymous whistleblower still tipped off the ACCC about the price fixing attempt.

Pascoe also was chairman of Aristocrat and Centrelink as well as George Weston, but he suddenly resigned all his very well-paid board positions two months ago when the Federal Government appointed him chief federal magistrate.

What I'm left wondering is: If that judgement had been made prior to John Pascoe's appointment, would it have had baring on his suitability for such a senior judicial role?

For that matter, would it have had baring on his ability to continue as chairman of a poker machine manufacturer? Would acceding to Honan's threat pass probity in the gambling industry?

I also can't help wondering if the ACCC needs to take a close look at the gluten industry. 

Dick Honan is no slouch in the affluence stakes:

ABIX via COMTEX) -- "BRW" magazine released its "Rich 200" list for Australia for 2002. The net estimated worth of Dick Honan is $A250m, which compares with $A270m in 2001. Honan, who inherited a flour milling and sugar business, has built Manildra Milling into a major Australian food processing company. Manildra rationalised its US food processing operations and bought the bioproducts division of George Weston Foods for an estimated $A41m.

Publication Date: 23 May 2002

Here is Crikey.com.au last Monday 25th February 2008, and it's a cracking story about corporate welfare:

Manildra's fuel ethanol grant will increase inflation

Richard Farmer writes:

As we try to make sense of stories about politics and companies, it pays to keeping looking at the list Crikey published back at the beginning of the month of who is giving how much to which party. I checked this morning and it put the current Independent Commission into Corruption inquiry about goings on at the Wolloongong Council into a proper perspective.

Property developers and development companies provided $5.1 million of the $13.9 million which Australian Electoral Commission figures show was donated to the three major political parties in 2006-07. Now we know that there is no such thing as free morning coffee as well as a free lunch.

The list also would make a normal person wonder why it was that the ethanol producer Manildra Group was the biggest single donor of all. Was there something other than altruism behind Mr Dick Honan's support for the democratic process? One of our website users suggests there just might be. In an anonymous tip the informant writes:

Dear Crikey, Please keep my details confidential. I thought you would find this information of interest.

I note that Crikey recently highlighted the massive donations given by Mr Dick Honan's Manildra Group to the two major political parties.

I'm sure you are aware that Manildra is Australia's near-monoploy fuel ethanol producer and receives a biofuel grant from the Federal government of just over 38 cents per litre. (Mr Howard ensured Manildra received the grant while ethanol importers would not.) Manildra will soon have the capacity to produce around 120 megalitres per year. Anyone doing the sums will quickly realise that the 2% biofuel mandate to be implemented by the NSW government, not to mention the 40 megalitre/year contract BP recently signed with Manildra, will result in Manildra collecting large sums of taxpayers' money.

Manildra asserts that its ethanol is solely derived from waste starch (i.e. fermentation of starch and sugars in the effluent stream of their Bomaderry gluten and starch operation. The plant separates wheat flour into gluten and starch. Some starch/sugars are lost to the liquid effluent stream). This makes them look greener than green. This is not the case.

Manildra has used corn starch from China and is currently negotiating with a Thai company (The THH Group) to supply tapioca chips to produce ethanol. Also, because of the huge profit margin on fuel ethanol, Manildra has been diverting more and more food-grade and industrial-grade starch to ethanol production. It is also rumoured that they are sending sugar from their Harwood sugar refinery to Nowra for ethanol production.

The result is obvious; The price of the starch and starch-based products (glucose, fructose, maltose, etc) that Manildra sells to food and beverage companies such as Fosters, Kraft, Cadburys and Nestle, and that are sold to industrial users such as Amcor, Visy and PaperlinX, must be increased so as to meet the profit margin enjoyed on the subsidised fuel ethanol.

In other words, the government's fuel ethanol grant is leading directly to food-price inflation which is in turn contributing to higher interest rates.

Aside from the food-fuel-inflation issue, wasn't the biofuel producers' grant supposed to assist LOCAL agriculture, not that of Thailand and China, which just makes our trade deficit even worse? Similarly, before handing over OUR money, why hasn't the Fed Government, the NSW Government or BP not demanded that Manildra provide a carbon/GHG lifecycle analysis and net energy analysis of their ethanol, as is now the case with biofuel suppliers to the EU market?

Send your tips to boss@crikey.com.au, submit them anonymously here or SMS tips and photos to 0427 TIP OFF.

Next day 26th Feb 08 Manildra's PR officer responded to Crikey.com.au, which might not be quite apples and oranges on our first reading:

Manildra:

Peter Simpson, General Manager of the Manildra Group, writes: Re. "Manildra's fuel ethanol grant will increase inflation" (yesterday, item 15). I refer to your article in yesterday’s edition. This company does not as a general rule respond to allegations from anonymous informants particularly when such allegations are absolutely false. However the following points will serve to correct the factual errors contained in the points raised by your anonymous informant:

Biofuels Grant: Manildra does not retain the ethanol producer’s credit of 38.143 cents per litre. Not less than 112.5 per cent of this producer’s credit is returned to major oil companies and fuel wholesalers to pass on to Australian motorists. In other words 100 per cent of the Government subsidy paid by taxpayers is returned to the motorist together with another 12.5 per cent paid by Manildra It is for this reason that ethanol blended fuel is able to be sold cheaper at the petrol pump. Additionally, whilst it is true at the moment that this company produces the major part of Australia’s ethanol production, there are a number of new plants on the drawing board as well as other plants already in production. For example, Department of Industry, Tourism and Resources data shows that in 2006/2007, the total volume of ethanol claimed by producers Australia wide under the Ethanol Production Grants Program amounted to around 83.5 million litres of which around 53 million litres were claimed by Manildra. That is, Manildra only claimed 63 per cent of the total subsidy claimed.

Balance of Statements: Manildra does not import tapioca chips and has no intention of doing so. Corn starch imported by Manildra is used for the manufacture of modified products other than ethanol. Manildra is not sending sugar from the Harwood sugar refinery to Nowra.

I will not make further comment on this or the other statements made by your informant as frankly they do not make a lot of sense. I trust that in the interests of fairness you will publish this reply in today’s edition.

Posted by editor at 6:13 AM EADT

Updated: Wednesday, 27 February 2008 7:47 AM EADT

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Mood:  mischievious

This is more interesting than watching paint dry, spotted via Crikey with original YT link below: There is something disturbing here too, perhaps the puffed Nelson figure valiantly keeping up with the beat while outnumbered, or is it the brash grinning poise of the Rudd and Garrett figures prosecuting their vaudeville rather than real policy action with such ease (the bread and circuses aspect of federal govt), or just the pathetic 'pollies just want to be loved/don't hurt me' sound track, as they live in financial security and relatively high on the hog. It works on so many levels we laughed hard, but we better stop trying to explain a joke (always a bit of a bore) and let this mash weave it's own magic here:

We watched the second half of the urban/climate change themed large format chat show Insight on SBS last night 26th Feb 08 and noted Prof Peter Newman from West Australia, that a market approach will just deliver "enclavism"surrounded by "Mad Max suburbs". Very true.

We have another too cynical speculative view about this elite list of the summiteers:  A cute story on West Wing tv series (episode 5, series 1 in fact) involved a special pass for the 'elite' like Josh Lyman character, who get to go into the bunker, or Airforce 1 if or when the apocalypse happens, calling up survivor guilt etc. Is this the first draft of our own Aussie bunker list The Day After Tomorrow?!

Posted by editor at 5:42 AM EADT

Updated: Wednesday, 27 February 2008 7:06 AM EADT

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Mood:  hungry

We received this from Steve Economidis on a broadcast email, but without attribution. It actually derives apparently from:

The book is Hungry Planet: what the world eats.  by Peter menzel.

http://www.menzelphoto.com/hungryplanet/

Here are some more links about this work (that actually give credit to the ones due):

http://www.npr.org/templates/story/story.php?storyId=5005952

http://www.time.com/time/photogallery/0,29307,1645016,00.html

These images are reproduced in turn from

http://fixingtheplanet.com/one-weeks-worth-food-around-our-planet

Japan: The Ukita family of Kodaira City Food expenditure for one week: 37,699 Yen or $317.25

Italy: The Manzo family of Sicily Food expenditure for one week: 214.36 Euros or $260.11 Favorite foods: fish, pasta with ragu, hot dogs, frozen fish sticks

Germany: The Melander family of Bargteheide Food expenditure for one week: 375.39 Euros or $500.07

United States: The Revis family of North Carolina Food expenditure for one week: $341.98 Favorite foods: spaghetti, potatoes, sesame chicken

Mexico: The Casales family of Cuernavaca Food expenditure for one week: 1,862.78 Mexican Pesos or $189.09 Favorite foods: pizza, crab, pasta, chicken

Poland: The Sobczynscy family of Konstancin-Jeziorna Food expenditure for one week: 582.48 Zlotys or $151.27 Family recipe: Pig's knuckles with carrots, celery and parsnips

Egypt: The Ahmed family of Cairo Food expenditure for one week: 387.85 Egyptian Pounds or $68.53 Family recipe: Okra and mutton

Ecuador: The Ayme family of Tingo Food expenditure for one week : $31.55 Family recipe : Potato soup with cabbage

Bhutan: The Namgay family of Shingkhey Village Food expenditure for one week: 224.93 ngultrum or $5.03 Family recipe: Mushroom, cheese and pork

Kuwait: The Al Haggan family of Kuwait City Food expenditure for one week: 63.63 dinar or $221.45
Family recipe: Chicken biryani with basmati rice

China: The Dong family of Beijing Food expenditure for one week: 1,233.76 Yuan or $155.06
Favorite foods: fried shredded pork with sweet and sour sauce

United States: The Caven family of California Food expenditure for one week: $159.18
Favorite foods: beef stew, berry yogurt sundae, clam chowder, ice cream

Mongolia: The Batsuuri family of Ulaanbaatar Food expenditure for one week: 41,985.85 togrogs or $40.02 Family recipe: Mutton dumplings

Great Britain: The Bainton family of Cllingbourne Ducis Food expenditure for one week: 155.54 British Pounds or $253.15 Favorite foods: avocado, mayonnaise sandwich, prawn cocktail, chocolate fudge cake with cream

Chad: The Aboubakar family of Breidjing Camp Food expenditure for one week: 685 CFA Francs or $1.23 Favorite foods: soup with fresh sheep meat

Posted by editor at 9:05 AM EADT

Updated: Tuesday, 26 February 2008 9:32 AM EADT

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Mood:  lyrical

Preface 

Normally a Sunday Talkies article yesterday is enough. But these are 'momentous' times to borrow an adjective from veteran Alex Mitchell describing both the overt and covert real politik of SAM's own NSW turf. Yesterday we also needed a Big Media wrap. Important because otherwise there is no chance for synthesis, which can inform and assist the public and ironically the actors in their own Shakespearean plot(s): Better to know what's really happening rather than jumping at shadows. Hopefully in this way some genuine democracy and wisdom can arise from the fusion of myriad forces, forces good and otherwise.

This is the role of trustworthy independent community media not least fifth estate micro news site here.

We like to think we can intuite and observe the near silent ripples of the covert kind. And sometimes we are dead on bullseye when we are supposed to be following the spin and the herd. A solitary pursuit often like wonderful rock jock Peter Croft solo climbing with not a rope or harness in sight: Scary, dangerous, thrilling only the wind and gravity of law and real politik to keep us connected to reality. This damn intuition is not an appealing quality to vested interests ... of all sides of politics (that reads at least 4). One imagines it's something to do with the long lost grandfather's genes quite high up in the Fairfax machine in his day 1940-50ies..

So here is a third installment in 36 hours for what we couldn't cover yesterday before rushing off now to a legal rendezvous for our disabled buddy getting her fair share (under guidance of private practitioner one Pam Suttor, Law Society council member):

- Saturday front pager continues the trend of real politik pain for spiv NSW ALP with their economic growth fetish mostly in denial of the ecological imperative of our times of conservation and moderation:

- Adam Spencer this morning abc 702 radio refers to Liberal and in recent years ABC Board royalty Janet Albrechtsen, via blog, rather than press print (?) here:

 End the stench of political donations 0 comments about this article

24 FEBRUARY 2008

HALLELUJAH. After stunning allegations of corruption at the Independent Commission Against Corruption about property donations securing multi-million dollar development approvals in Wollongong, NSW Premier Morris...

Apparently Albrech. says "don't hold your breath" on developer reforms. Quite. The big money developer lobby are on the back foot but they will be baaaack as here:

Developers warn of crisis - National - smh.com.au 14 Feb 2008

This is one of those so called "development crisis" that political economist giant of the USA JK Galbraith would refer to in highly technical terms as big business "bullsh*t".

- Sometimes it hard to tell which is more macabre - the Big Media journalists who would fit right into the Adam's Family, or the MPs who it seems have already been convicted of that unforgiveable sin ... fatness ... which is a cheap shot surely for a boney arsed reptile when there is so much more substance to work with. So why go down market? Unless this is also the same revolving door natural habitat of said journo(s)?

Is it the rival porn dominated revenues of the internet causing the press gossip writers to go down market? Who for instance needs to hear that Rocket Rod Adler, convicted fraudster is being compared nastily with a mass murderer Ivan Milat at a local theatre?: As bad as Rocket was or is, mass murderer he is not (refer pic below).

Then what about Minister Reba Meagher's toilet habits? Do we really need to know? (see extract below)

We perceive Carty, Big Media reptile below,  for better or worse, as the parallel evolutionary product as Simon Benson on state rounds over at the Daily Telegraph in response to career pressure of ALP hegemony, same SB not averse to a little menacing of this writer. One can imagine Carty may try a bit of biffo in print too. Whatever.

First exhibit is this package of articles suggestive of a PR gambit of 'quarrantine and sanitise' in the Fairfax SunHerald which actually trivialises the systemic problem with brand ALP (see more below):

Rather the real hammer blow regarding good governance that Carty et al might have worked up for the Sunday press: How is it that a manager of ICAC investigations has ended up working with the main schmoozer and accused (Scimone) appearing before Justice Jerrold Cripps as beak at  ICAC? It's not going too far to say ICAC until last week had a major credibility gap with civil society groups including this writer for being a toothless lap puppy.

Indeed corroboration of this reality of ineffective ICAC - until last week - can be found in this Herald story today 25 Feb 08:

Scandal envelops Maritime

THE mostly female planning staff at NSW Maritime were alarmed when Joe Scimone was appointed executive director of their division because they knew he had resigned from Wollongong Council following harassment allegations, a former high-ranking Maritime manager has told the Premier.

This quote is damning of perceptions of ICAC ineffectiveness until very recently:

"Mr Patrick said he and some colleagues had tried from August 2006 to persuade ICAC "to investigate systemic maladministration in NSW Maritime," but the commission had told them to undertake their own investigation.

After he left NSW Maritime in December 2006, Mr Patrick accused the NSW cabinet of moving to "gut" government policies to control waterfront development, allowing wealthy landowners and commercial interests to build bigger structures and hinder public access. Mr Tripodi said at the time it would cut red tape."

Having said that we praise ICAC as it is always better late than never, even in the face of gripes. We fear ICAC has only been goaded into ferocity by the appearance of standover men leveraging the dozey dizzy ICAC record of recent years to rip out allegedly $500K from their hapless victims.

In other words ICAC was at existential risk themselves and so not just councillor crooks or ministerial mates in the dock all last and this week. It's the effectiveness and utitlity of ICAC itself. That's the subtext to Jerrold Cripps getting ICAC off its arse and actually doing something about good governance comparable to the jolting Metherell Affair of 1992. We don't know as a legal practitioner if that is contempt of a judicial body. But it needs to be said and said loudly - ICAC have ALOT of catching up to do, and we hope and trust they do so:

Posted by editor at 7:19 AM EADT

Updated: Monday, 25 February 2008 6:31 PM EADT

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Mood:  caffeinated

Sunday 9 7.30am- 9.30am

Missed the start but like ABC radio early bulletins Sunday the early stories are predominantly foreign based like Pakistan election and Obama presidential race in the USA. This fits the lower audience early and the currency via international overnight newswires leveraging the time difference and convenience of boiler plate media packages.

- adverts are running NSW Govt adverts on water and energy conservation which are blatant PR greenwashing efforts.

- Ross Greenwood business story – Skase reprise. Couldn’t track the detail but usually a strong reporter.

- Oakes interview with Stephen Smith, as foreign minister. LO looking a little more groomed and side on, buzz cut? Boiler plate Iraq etc. Weight is about Gates as US Secretary of Defence in the country for ‘AUSMIN’ as per ABC tv media pictures on tv news last night, complete with winged shoulder, surely symbolizing something about the Republican regime of W Bush and the credibility of the render loving USA. [as per Millibrand admission UK’s Diego Garcia].

- NATO conference in April attended by Rudd

 [along with his own 2020 summit, rich folks summit for Ayn Rand on in Sydney too.]

- No more troops to Afghanistan. Other things we can do to state building. Canadians are pulling out, 80 casualities.

- missile defence controversy about secret talks, Smith fudges, Oakes not convinced, Fitzgibbon did say they were secret. Son of Star Wars is under discussion. Not going to be rushed, no need to be rushed. [See more at this story by 'former intel officer, Lowy Institute'

Defence umbrella put to the test | The Australian 20/2/08]

 [is this the tradeoff for canceling other ridiculous arms purchases as here:

PM to slash Howard's defence spend 24 Feb 08

THE Federal Government will launch a major cost cutting assault on multi-billion dollar defence projects established by the Howard government. ]

Seems the Raptor is instead being moved up the shopping list says abc tv news 9 am this morning.

10 Meet the Press:  8- 8-30 am

Opening footage Rudd re AWA IR repeal.

Press roundup re FIFA world cup event stalked by Rudd, it’s a vaudeville type PR kicking a footy. Look at moi, look at moi, running in Sunday Sydney SunHerald to take pressure off brand ALP in Sydney (?)

 2^nd front pager of note is integrity story about Brian Bourke meeting scheduled for Rudd running in Brisbane Courier Mail. It’s fairly cold story sought to be revived but it shows as in NSW Qld has misgivings about ALP cronyism – something never resolved by Fitzgerald as far back as 1987 after putting the salts through the National Party, and cut off before he got to the crook ALP.

Main talent is Christopher Pyne MP who is still the second string team – PB compere notes it’s a cold line of attack now post election while Pyne beats as best he can.

Mid level journos on panel Cath Hart telegenic complete with contact lenses (?), The Australian , Mark Kenny Adelaide Advertiser (both News Ltd papers) probably telegenic not that there’s anything wrong with that.

Which raises the question of Pyne’s clearly strong grip on rhetoric and policy but presenting as a minority sexuality, whether true or not (as alleged previously in the big media), as we move into the gay Sydney Mardi Gras season. If true we reckon like Bob Brown  long ago, the time is right, post Rudd election. There is no value in living a public political career with half one’s life out of bounds, like Alan Jones against one’s own God given nature. It’s the next big step Christopher, for greatness even.

Haneef cost of the debacle. Coalition supports Keelty in his job, AFP role.

Out take amusing Nicholson animation of ex PM ego line up of apologizers for various flaws. Works quite well.

John Connor again on his ALP ambitious platform with Climate Institute following the Peter Garrett track from real green to greenwash for the ALP? Sufficiently smooth and boofhead ugly to fit right in complete with “going forward” boilerplate. Garnaut very “thoughtful”. Lline of least resistance pragmatic tone.  Get’s on to no compo for owners of generators – pricing signals on energy supported? Roundabout yes, smarter use bills go down.

PB intervenes – big difference anyway whatever we do? China and US waking up to this and we should get ahead of the curve. [Connor gets this right.]

Transcript in due course www.ten.com.au/meetthepress ,

7 Weekend Sunrise: 8.35-40 am Riley Diary  -

Intro re high polling for Rudd v Nelson pulping fiction of Work Choices. Mr Woolfe/Harvey Keitel character “solves problems”

 [reminds of a shady character who gave me a lift over the Nullabor as a kid hitchhiker, Italian gent in a huge LTD who worked as a “problem solver”, that was in 1984 or so.]

Mostly about AWA fridgemagnets and postcards and mouse pads. Props all round, with cardboard Kevinator for the Coalition. Amusing staged presser with 1 cm thick lack of substance PM [KRudd.]

Footage of Coalition etc dinosaurs  ‘wax museum with a pulse’.

Insiders 2: 9- 10am

Intro is inconvenient truth of Garnaut report.

Panel is Karen Middleton sbs, Andrew Bolt News HeraldSun, David Marr smh.

FIFA event in 2018, bread and circuses proposal, laugh.

Cornes in Australian Story re biffo of Tonay Jones.

Harry Jenkins speaker looking at making answer questions, revolution if can do it. Bolt sees credibility gap real politik deliverable.

Andrew Robb in the studio – shadow foreign minister. Stunt of cardboard Kevin.

Panel get their head around the enormity of dangerous climate change, both have profound points to make and its cataclysmic economic and global ecological concerns. Bolt in denial but not nearly so dogmatic in opposition..

Garrett gets a good rap with passion on climate change while noting clearing for a pulp mill and dredging Port Phillip.

Downer gets condemned for hubris even in defeat. House of reps shouldn’t be a retirement home, get to work.

Iemma govt, worst in a generation possibly ever. Marr is a village politician from Calabria adjudicates the village disputes, always a scrum of rough people, not getting in and solving things. Bolt says 4 year term too long, undemocratic.

Footage [not midweek, actually Friday] re Iemma claiming “heads will roll”, no detail of political donation rules. Cassidy says often change the leader, Watkins wrong faction, machine prefer go down in the heap? No. This is NSW says 30 year experience as reporter hand to hand combat comes up from the gutters, beginning of NSW about corruption, property. Marr is soooooooooooooooooooooo right.

Talking pictures: Julie Bishop adapted as Deputy Opposition Leader. Sharp faced, and witted, and ruthless ambition. Find her chilling like an SS officer myself, the boney arsed one 9-5 movie. Shows here tactical nouse with Blair Howard schoolkids impromptu pic fac.

Rich journalists discuss PM use of tax payer funded child minding, irrelevant to wealth, it’s about job rights, ‘just like Mal Turnbull’ completely missing the point that the voters know Big Politics is really money politics and how they got their jobs in the first place.

Wind up – final observations – republic in a fortnight says Marr, Middleton on Afghanistan, Bolt on Nelson.

Home page is http://www.abc.net.au/insiders/

Posted by editor at 9:01 AM EADT

Updated: Monday, 25 February 2008 7:18 AM EADT

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