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	<title>Comments on: A look behind the detour of Transurban</title>
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	<link>http://www.crikey.com.au/2009/11/02/a-look-behind-the-detour-of-transurban/</link>
	<description>now with extra source</description>
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		<title>By: John Bennetts</title>
		<link>http://www.crikey.com.au/2009/11/02/a-look-behind-the-detour-of-transurban/#comment-43824</link>
		<dc:creator>John Bennetts</dc:creator>
		<pubDate>Mon, 02 Nov 2009 12:22:24 +0000</pubDate>
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		<description>&quot;It is to be hoped that the Productivity Commission’s new rules will ensure that the entire overpaid board of Transurban responsible for its undisclosed financial position be terminated.&quot;

Terminated?  What an understatement.

A couple of hotheads fighting with glasses in a suburban local pub will bring instant headlines, calls for review of the system and possible suspension of the pub&#039;s licence.  Fairly so, perhaps.

However, compare this with the treatment of top-end-of-town white collar criminals, including those who intentionally or negligently set about destruction of the value of othe people&#039;s money and life savings and they are not held account either immediately or, in most cases, ever.

The ability of incompetent and fraudulent directors to avoid prosecution is causing a stench across this land and others, yet there is no coordinated action to bring forward enforcement appropriate to the horror caused by the crimes.

Transurban may, just possibly, not be one such organisation, yet this article certainly makes a case for official response, if not action leading to gaol time. 

Is it too much to hope for that, following the GFC which disclosed an ocean of corporate wrongoing, that one strong plank of the recovery effort should be strong and meaningful enforcement of existing laws and review where these are found to be deficient?

Perhaps a starting point could be those accounting rules covering asset valuations and disclosure to the marketplace of any charges, by whatever names, there are over these assets.</description>
		<content:encoded><![CDATA[<p><span class="dquo">&#8220;</span>It is to be hoped that the Productivity Commission’s new rules will ensure that the entire overpaid board of Transurban responsible for its undisclosed financial position be terminated.&#8221;</p>
<p>Terminated?  What an understatement.</p>
<p>A couple of hotheads fighting with glasses in a suburban local pub will bring instant headlines, calls for review of the system and possible suspension of the pub&#8217;s licence.  Fairly so, perhaps.</p>
<p>However, compare this with the treatment of top-end-of-town white collar criminals, including those who intentionally or negligently set about destruction of the value of othe people&#8217;s money and life savings and they are not held account either immediately or, in most cases, ever.</p>
<p>The ability of incompetent and fraudulent directors to avoid prosecution is causing a stench across this land and others, yet there is no coordinated action to bring forward enforcement appropriate to the horror caused by the crimes.</p>
<p>Transurban may, just possibly, not be one such organisation, yet this article certainly makes a case for official response, if not action leading to gaol time. </p>
<p>Is it too much to hope for that, following the GFC which disclosed an ocean of corporate wrongoing, that one strong plank of the recovery effort should be strong and meaningful enforcement of existing laws and review where these are found to be deficient?</p>
<p>Perhaps a starting point could be those accounting rules covering asset valuations and disclosure to the marketplace of any charges, by whatever names, there are over these assets.</p>
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