The Oz Conspiracy: ex nihilo nihil fit,...
From: g87
Sent: Monday, August 20, 2012 1:19 PM
To: the australian
Subject: The Oz Conspiracy: ex nihilo nihil fit
The Oz Conspiracy: ex nihilo nihil fit, which means "Out
of
nothing comes nothing".
Essentially The Australian publishes 'exclusive' debilitating journalistic scoops less than generous to the left.
Union boss faces questions over sale of financial advisory firm,The Australian 20/8.
Some would insist that you are out to 'get' Julia.
But I am wise to your wiles: you are in cahoots with the Labor party!
Julia realizes that the public are becoming inured to her manifesto: it is called the 'here - we - go - again syndrome.
Step by nefarious step the multiple scandals,the interminable, innumerable incompetences, the economic irratinalism, the astonishing ex officio stupidities ex her own primary orifice, the excoriations now manifest from even the true believers and ultimately the feeling that no matter what she does today - it will be worse tommorrow.
You are plainly allowing her to get away with it!
Why not try writing pure fiction?
Your exclusives would at least possibly have the gravitas of a response via the courts.
Think of the papers you could sell post facto: I can see the headline - Gillard finally defends her fellow Marxists.Plainly the left do not think their actions or policies need to be explicable
.
The denoument will come soon enough for these professional nincompoops.
Geoff Seidner
nothing comes nothing".
Essentially The Australian publishes 'exclusive' debilitating journalistic scoops less than generous to the left.
Union boss faces questions over sale of financial advisory firm,The Australian 20/8.
Some would insist that you are out to 'get' Julia.
But I am wise to your wiles: you are in cahoots with the Labor party!
Julia realizes that the public are becoming inured to her manifesto: it is called the 'here - we - go - again syndrome.
Step by nefarious step the multiple scandals,the interminable, innumerable incompetences, the economic irratinalism, the astonishing ex officio stupidities ex her own primary orifice, the excoriations now manifest from even the true believers and ultimately the feeling that no matter what she does today - it will be worse tommorrow.
You are plainly allowing her to get away with it!
Why not try writing pure fiction?
Your exclusives would at least possibly have the gravitas of a response via the courts.
Think of the papers you could sell post facto: I can see the headline - Gillard finally defends her fellow Marxists.Plainly the left do not think their actions or policies need to be explicable
.
The denoument will come soon enough for these professional nincompoops.
Geoff Seidner
############################################################################
############################################################################
Victorian Electrical Trades Union boss Dean Mighell faces questions
- The Australian
- August 20, 2012
Dean Mighell is under investigation over the sale of his union's majority stake in a financial advisory company for allegedly a tenth of its value. Source: HWT Image Library
Victorian Electrical Trades Union boss Dean Mighell is fighting two Federal Court cases and an independent audit ordered by the union's national leadership after an internal probe found "financial irregularity" over the deal.
Mr Mighell, forced to resign from the ALP in 2007 after being branded a "thug" by then Labor leader Kevin Rudd, was last month reported to Fair Work Australia for allegedly refusing to open the ETU's books on Southern Alliance Financial Services, which gave members advice and ran a union investment fund. Despite company documents confirming the 2005 sale, with the then transfer of the union's 65 per cent stake to minority shareholder and financial adviser Tony Devin, the annual reports of the ETU (Victoria) showed it still majority-owned SAFS until the end of 2010.
And, according to the internal probe, the ETU wasn't paid the $48,355 sale price until March last year - several months after Mr Mighell first began to face questions about the ownership status of the company. The probe, backed by the union's nationwide divisional council, is the latest stoush in the increasingly bitter relationship between Mr Mighell and several of his ETU counterparts around Australia.
Mr Mighell has told The Australian the deal "was above board" and that the near six-year delay in the ETU receiving the proceeds of the SAFS sale was largely because a union accountant had failed to "keep an eye on the records".
"This was all above board, we did chase the money but it took years to get," he said, suggesting it had been complicated by a subsequent legal dispute between the ETU and Mr Devin over another matter.
Communications Electrical and Plumbing Union national secretary Peter Tighe - who has publicly battled with Mr Mighell in recent years - has spent more than 18 months investigating the SAFS sale to Mr Devin, who already held the remaining 35 per cent in the company.
"It is my view that this matter requires a full investigation by an independent financial auditor," Mr Tighe said in a report, obtained by The Australian, to ETU union leaders.
"I believe that there is enough initial evidence to point to a financial irregularity in dealings involving an asset of the division."
The company was set up in 1999 by Mr Devin and Mr Mighell to provide financial advice to its members and eventually administered a union severance fund, Protect.
SAFS was wound up in September 2010 by Mr Devin.
In his report, Mr Tighe said that the SAFS sale price was undervalued at $48,355 because the company was guaranteed commissions of $537,000 in just the two years after the sale, of which the union's share would have been $300,000.
The revenues for the union's 65 per cent share in the company included an annual $125,000 "trailing" commission to last year - from a $25 million annuity scheme it brokered for Protect.
Instead, Mr Tighe says, Mr Devin pocketed all of the company's revenues, a claim disputed by Mr Mighell.
The Victorian union leader says the ETU received its share of the revenues despite the transfer of shares to Mr Devin.
And Mr Mighell told The Australian the size of the commissions had been overstated and the company was virtually worthless. "We got $48,000 more than perhaps we should have got for the company," Mr Mighell said.
Mr Tighe presented his report on SAFS to the annual CEPU Divisional Conference of the Electrical Divisional Council last November, which passed a resolution to appoint a forensic auditor to look into the sale.
Last month, Mr Tighe wrote a letter to Fair Work Australia about the investigation and alleged the Victorian branch of the ETU had refused to comply with the order to allow a forensic auditor to assess the sale of SAFS.
"The consideration for the share transfer was $48,355.78 which was, on a conservative estimate of the value of the shares, approximately 10 per cent of their total value," Mr Tighe said in the letter to Fair Work Australia. "I am reporting this matter to Fair Work Australia to ensure FWA is appraised of the processes under way by the division to implement good corporate governance with respect to SAFS. It is important to stress that at this stage, the division is simply investigating the dealings in SAFS and the Divisional Council is being impeded in its investigation by the Victorian Branch."
Mr Mighell said the Victorian division of the ETU had engaged its own auditors who had endorsed the sale of SAFS.
"Our auditors have audited it completely and Tighe is simply wrong," he said. Mr Tighe could not be contacted.
The Cole royal commission investigated SAFS and the ETU's Protect severance fund over the $25m annuity scheme, with the Australian Securities & Investments Commission also looking at a subsequent takeover of the operation of the fund. No further action was taken.
Ex nihilo
From Wikipedia, the free encyclopedia
.jpg)
Ex nihilo is a Latin phrase meaning "out of nothing". It often appears in conjunction with the concept of creation, as in creatio ex nihilo, meaning "creation out of nothing"—chiefly in philosophical or theological contexts, but also occurs in other fields.
In theology, the common phrase creatio ex nihilo ("creation out of nothing"), contrasts with creatio ex materia (creation out of some pre-existent, eternal matter) and with creatio ex deo (creation out of the being of God).
The phrase ex nihilo also appears in the classical philosophical formulation ex nihilo nihil fit, which means "Out of nothing comes nothing".
Ex nihilo when used outside of religious or metaphysical contexts, also refers to something coming from nothing. For example, in a conversation, one might raise a topic "ex nihilo" if it bears no relation to the previous topic of discussion. The term has specific meanings in military and computer sciencecontexts.
In mathematics, ex nihilo can refer to an answer to a question provided with no working, thus appearing to have developed "out of nothing".
No comments:
Post a Comment