Wog thinks Poms stink?

Racism is fairly ingrained in the Australian culture, but this is tragic..

Teach migrants to use deodorant - Aussie MP

Australian proposal to tax efficiency

"The nine-person working group, set up by Mr Swan after the tax summit, is examining a proposal known as Allowance for Corporate Equity, which would apply no tax to the portion of corporate profits necessary to get a reasonable return on equity. Most companies - especially manufacturers - fail to meet that hurdle and would pay no corporate tax.

Banks and mining companies make a much greater return on equity and so would be liable for the super tax on the excess portion of their earnings. A working group member, John Freebairn from Melbourne University, told the conference the super tax rate could be as high as 40 or 50 per cent. He nominated McDonald's and KFC as examples of companies able to make larger than normal profits because of the power of their brands."

Read more: http://www.smh.com.au/business/swan-tax-shakeup-targets-super-rich-20111205-1ofj9.html#ixzz1fiQQSP6i

"A gold mine is a hole in the ground with a liar on top.

272 gold companies curently listed on the ASX, of these only 41 have positive cashflow at a time of record high gold prices.

Forge Group (FGE) now trading at $3

Meanwhile down in oz..

The FGE management sold out half their holdings at @$2.10 to Clough. Are these dumbwits still 'excited' about "The Strategic Alliance Agreement provides an operational framework to deliver the expected benefits and facilitate long‐term strategic co‐operation between the companies. " ? A whole wordy explosion of airy fairy flatulence.

Clough has 2.11m shares at purchased prices of $2.10 per share and 31% of Forge. At the recent market price of $3 for FGE, Clough is sitting on a $23m profit which is about the same as what Clough has earned for the LAST TEN YEARS IN TOTAL ($27m).

Forge management has effectively handed control over to Clough, a company that has made losses 3 years out of the last 5. The Forge shareholders can now expect to get really forged, no imagination required to guess who will get the meat and who will get boned.

Dumb fuck award goes to Forge Group (FGE) management

For not only accepting but for soliciting an offer from Clough of $2.10/share. The morons not only short change themselves but also shareholders in pursuing their exit strategy.

Independent advisor says offer is "NOT FAIR AND NOT REASONABLE" and estimates values of shares at between $3.74 and $4.13.

Peter Hutchinson, the Management Director is still bound to selling half his shares and options at $2.10, gives control to Clough at below market price and easily qualifies for senior moron status.

The directors who previously okayed the deal now abstain, while one independent advises against accepting.

The $2.10 which FGE management has accepted is :

• a discount of 18.6% to the closing price of Forge Shares of $2.58 on 13 April 2010, the day before the date of this Target’s Statement;

• a discount of 9.09% to the closing price of Forge Shares of $2.31 prior to the Announcement Date;

• a discount of 0.94% to the VWAP of Forge Shares of $2.12 for the 1 month prior to the Announcement Date; and

• a discount of 1.87% to the VWAP of Forge Shares of $2.14 for the 3 months prior to the Announcement Date.

These fuckers must be desperate to exit and this can't be good news for FGE as an ongoing concern.

Naked options and advisors

Meanwhile down under, advisors trading naked options on behalf of clients. I guess the 'helper' was so successful trading his own account and being a kind soul he wanted to spread the loot by helping his clients.

Unfortunately the market doesn't respect visualizations..

From the SMH:

But in the winter of 2004 it all turned sour. Within a year many Ord Minett clients had lost all their money - millions of dollars wiped out in increasingly risky options trading.

ASIC has investigated the claims against Ord Minnett and said in July last year that it would ''not take any further action & at this time''.

Ben Leeden continues to work as a private client adviser in Ord Minnett's Gold Coast office. His former clients say they are still "very hopeful" of recouping some of their losses from Ord Minnett.

"I visualise it every day," Tyson says. "I do a lot of visualisation."

Australia the racist country

Not content with killing off the aborigines, the rednecks have turned on Indians

"He said 15 to 20 people were believed to have watched the assault and were yelling racial abuse when police arrived."

With the help of the police..

The four arrested men, aged between 20 and 30, were later released without charge. Police are now seeking witnesses.