Submitted by Sheepdog on Sat, 03/18/2017 - 15:36
"No 4 - Comes in a brown paper bag"
A decent meat pie and sauce often comes in a brown paper bag.
SA Gov privatises forestry company in South-East SA. New owners make 4 times the profit that the gov did, this means by many common valuation techniques the government sold it for 3-4 times less than its value.
Way to go guys! Tom Koutstantonis showing his qualities for us all.
"Yep, fong..... The biggest con... Well maybe the biggest.
When a government says they want to privatise an essential service, it basically means 3 things.
1 - they are incompetent, and couldn't run a chook raffle.
2 - they need the money from the sale to get re elected.
3- They have shares in the company buying the service."
Definitely points 1 & 2 apply in this case S-Dog.
For those that are in SA, you may go through some interesting times, re the soverignty of ownership (eg gas supply), the recent bank tax announcement, the Attrium decisions. All of these are major and have a direct impact on investment and the SA economy. Yes, any of the points or all could apply there. Good luck.
more comedy gold
We definitely need luck now TB. The best case for SA regarding the bank tax will be if the rest of Australia adopts the same policy, otherwise it will be a flight of investment, loan applications etc interstate. I would also foresee more branch closures as a result.
Another interesting potential symptom of this - imagine if every state adopted the bank tax except one which then suddenly becomes the financial hub of Australia. Hobart could end up the London of Australia!
But all jokes aside, SA is buggered. I guess the next step will be state income taxes, state GST, state departure tax, state visas jeeze who knows what "bold" & "brave" initiatives Rocky & Bullwinkle will come up with next!
(((echo))) (((echo))) (((echo)))
Power to the people.
When dinosaurs ruled the Earth.