The pilot of the Pel-Air Westwind that crashed off Norfolk Island on Wednesday apparently took off with inadequate fuel supplies. He, and his airline, must be prosecuted.
Business / Companies
Mirvac slammed over surge in directors fees
Small securityholders threw the kitchen sink at Mirvac yesterday over the poor performance, and the move to boost directors’ fees for a second time in as many years.
Banking competition: the great Australian oxymoron
Australia’s Big Four banks are at the core of our entire economy, says Evan Jones, and the idea that they’re “in competition” with each other is a farce. Together, these institutions wield enormous power.
Silicon sweatshops
Global Post is running a five-part investigation into the dubious labour practices of the Third World factories manufacturing the First World’s favorite high-tech gadgets. How cool does your iPhone look now?
Only a Senate inquiry can sort out One.Tel mess
Whilst ASIC has received the mother of all beltings in today’s papers for the failure to string up former One.Tel CEO Jodee Rich, more attention should be focused on the role played by Australia’s politicians and the Murdoch and Packer families.
No winners, but Jodee Rich gets back on his bike
For Jodee Rich, the One.Tel issue does not end with yesterday’s judgement: he’s still seeking the payment of the $132 million that PBL and News had originally committed for the rights issue, plus interest and damages.
Attention all media: an Australian jet crashed last night
Jet crashes are rare in Australia, but one happened last night at Norfolk Island and no-one in the media noticed. All six people on board the CareFlight medical evacuation jet have survived
Did a cosmic ray zap the Airbus?
The Australian Transport Safety Bureau is now considering the remote possibility that a rogue cosmic ray or solar particle caused a Qantas plane to twice dive out of control over Western Australia in October last year, says Ben Sandilands.
Maiden: Will ASIC lose its nerve?
With ASIC departing the One.Tel battle with its tail wedged firmly between its legs, the regulator may be less bold in aggressively pursuing cases in the future, says Malcolm Maiden
Rich home free, ASIC in the dock
One.Tel executives Jodee Rich and Mark Silbermann may have escaped their legal battle with ASIC intact, but One.Tel was still a colossal failure, says Stephen Bartholomeusz.
Goldman starts grovelling
Goldman Sachs is attempting to make-over its greedy image by apologising for that little Global Financial Crisis incident and spending $500 million to help small businesses recover from the recession.
Bank exec bonuses helped by Rudd’s rules
Kevin Rudd may publicly deride extreme capitalism — but, fortunately for our bankers, the Federal Government’s policies appear to be aiding and abetting it.
Violent plunges of QF72 remain a mystery
Heads hit the roof when a Qantas A300 dipped and dived off Western Australia last year. But a second interim report released today holds no certain answers.
If we are what we drive, we’re changing gear
Australians are rapidly embracing motorbikes (especially scooters) and diesel-powered cars, according to the latest Motor Vehicle Census from the ABC.
Goldman Sachs outsources lending to charity
You can’t but help be very very cynical about the news that Goldman Sachs and Warren Buffett are going to rustle up half a billion bucks and lend it to small businesses.
Public sector keeps wages growing faster than they should be
Wages growth in Australia continues to ease, as the Reserve Bank says it has, but that’s not to say the public sector hasn’t done its best to keep wages growing faster than they should be.
Former Microsoft ambassador: Why I’m ditching Gates for Google
Microsoft’s former “ambassador to startups”, Don Dodge, worked at the company for almost five years, but now he’s saying goodbye to Outlook, Office and IE, and hello to Gmail, Docs and Chrome: he’s a born-again Googler.
Looming GE-Comcast deal may out-flank Murdoch
While he has been obsessing about the internet and free content, Rupert Murdoch may be about to be out-flanked by the looming deal between General Electric and Comcast over NBC.
ATO-TPG fight may force legislators to act curb tax favours
The emerging stoush between the Australian Tax Office and the former private equity owners of Myer should warm the cockles of the hearts of every long-suffering Australian taxpayer.
US finance sector’s sick reality
In the past month, 24 US banks have failed, two big finance companies have gone into bankruptcy, followed by a small credit card provider. But American investors don’t care; they know if the banks are small enough, the regulators will clean up.
Australian newspapers following the US in steep decline
The declining revenues of Australian newspapers will spell trouble locally, just as the same trend has resulted in disaster for many US titles, writes Niki Scevak.
Where’s the warning for investors from the big polluters?
Some of Australia’s biggest polluters continue to say one thing in public about the CPRS and tell their shareholders another.
Credibility of Qantas on line over “unusual vibrations” aka a flaming engine
The scorched engine at the centre of the latest allegations about safety standards at Qantas is now being examined by the independent air safety investigator, and the credibility of two unions, the airline’s management and the air safety regulation enforce are all on the line.
National newspapers fall off a cliff, bury news
Australian newspaper buyers have punished the national papers, The Australian Financial Review and The Australian in the latest audit period, but basically spared the rod on their state-based competitors.
Qantas dodges BA-Iberia tie-up
The proposed 4.4 billion pound merger between British Airways and Iberia of Spain is so full of holes that it could very well sink without a trace at the slightest bit of opposition.
