There is a rather interesting story emerging about Geothermal Energy (Petratherm) emerging on the Coober Pedy Times. It became more interesting as yesterday it was announced on ASX that Australian Ethical has removed itself as a “substantial investor” … seems a lot of hot rocks investors were not aware that the project, which was being promoted as green energy, is aiming to power the recently Garrett-approved 4 Mile Creek Uranium Mine. The only problem is that the proper state clearances were never completed, as reported by the Adnyamathanha woman quoted in the ABC and the Coober Pedy Times article.
Will Albo’s free kick be an own goal? Spending $2 million to revamp a local sports ground — in your own seat — should be an easy way shore up a few votes. Well not if Marrickville Council has anything to do with it. As a part of the Government’s stimulus package, Infrastructure Minister and local member Anthony Albanese recently announced a $2.26 makeover for Mackey Park, home of the mighty Marrickville Red Devils.
So far, so good. But much to the horror of locals, the shovel-ready proposal put forward by Marrickville Council’s “visionaries” involves getting rid of a couple of popular local identities — two massive fig trees.
Albo’s green-leaning constituents will also have to take the long way to the train station with the proposed destruction of a much-used footpath. And even the mighty Marrickville Devils, all 900 plus of them, most of them kids, may be under threat of eviction after 50 years. Time for Albo to blow the whistle, before the whole community gets offside?
The trees threatened by the council’s red card
Kyle Sandilands is off-air because: 1) Optus, his major sponsor, has gone nuclear over the rape stunt; 2) every Sydney radio station is doing a live OB from Martin Place this Thursday morning to flog the arrival of digital radio. Austereo is terrified there would be a noisy anti-rape protest if Kyle fronted in person.
GTV9 launching new news set. Looks identical to TCN in Sydney.
It may be a long way from Australia, but even so I’m surprised you haven’t picked up on the juicy scandal over perks for health care workers here in the West. To cut a long story short, all WA government health workers (doctors, nurses, and so on) can package part of their salary in the form of pre-tax meal entertainment. This can be anything from a solitary lunch in the hospital canteen to a feast for the whole family at a top restaurant. If there’s one group of workers in this state that truly deserves a minor perk like this, it’s our over-worked nurses. Trouble is, not many of them can afford top restaurant prices. Worse, some have been caught rorting the scheme — for example, by submitting copies of other people’s receipts.
From the SackWatch desk:
- 450 (guestimated — we haven’t had an internal figure announced yet but this is what the rumours are saying) Insurance Australia Group (IAG) workers have been made redundant from the Direct Insurance division. The Vic, WA and SA media have picked up on it but nothing in Sydney.
- I was sacked from KPMG, Melbourne, in January this year. I think I was the first to be fired due to the recession. I was employed as a grad with some post-uni experience. I negotiated a salary higher than a fresh grad, and I think this was partly the reason that in a team that had three grads, I was the one to get the boot. A few weeks after me they cut grads in other areas.
- Australian Unity Investments made 20 staff redundant two weeks about.
So there you have it. If you’re interested in combating climate change, don’t bother with so-called “ethical investment”.
Dang, I was very pleased that my super fund was investing in hot-rock power … I’ll look into plunking in some cash of my own separately now.
More Coober Pedy Times dribble, part of their long running anti Petratherm and anti-nuclear campaign and as usual (its) wrong. A “substantial shareholder” (not a substantial investor, whatever that is) is defined under the Corporations Act as a shareholder with more that 10% of a company’s ordinary shares. If that percentage changes for whatever reason the shareholder must advise the ASX of the details of the change. In the case of Australian Ethical, they neither bought nor sold shares but had their % ownership reduced by Petratherm issuing new shares as a consequence of options being exercised. The anti-nuclear lobby is in a 1970’s time warp when long hair was fashionable and is so blinded by its own dogma that it cannot even see the potential of geothermally generated electricity. If they don’t like coal, greenhouse gases, uranium and geothermal energy then they will just have to live in caves (is that why some of them live underground at “Coober”). But if they fart, watch out, we may have to shut them down too.
The trees threatened by council’s red card …. but I can’t see the picture. Dang.