As The Australian reported yesterday, the Jewish communities of Sydney and Melbourne are bitterly divided over the decision by one of their members, ACCC boss Graeme Samuel, to prosecute billionaire businessman Dick Pratt over the latter’s evidence to an ACCC inquiry into price fixing, writes Greg Barnes.
Richard Pratt
Pratt gives back his prize (John Howard still likes him)
Pratt gives back his Companion of the Order of Australia. Crikey can think of another prat who should, writes Sophie Black
It is time Australia sent cartel leaders to jail
After delivering a stinging 66-page rebuke of Visy and Richard Pratt’s conduct, it’s unlikely that Federal Court Judge Peter Heerey, nor the man responsible for bringing the action, ACCC boss, Graeme Samuel, will be invited to Raheen any time soon, writes Adam Schwab.
Crikey Says: Crikey Says
We have been searching our minds to try to figure out why John Howard and Peter Costello refuse to criminalise cartels and send their perpetrators to jail. Here are 10 possible reasons for their inaction.
Pratt to expand Kunkel’s role at Visy
It is not without irony that Richard Pratt has significantly expanded the role of former Foster’s chief, Ted Kunkel at Visy. Kunkel has a bit of experience “overseeing” Pratt’s dealings, writes Adam Schwab.
And the Richard Pratt Business Leadership Award goes to…
The press releases announcing this year’s Australian Business Arts Foundation (ABAF) Award winners have been without the usual fanfare of previous years. Indeed, there’s hardly an article in the mainstream media covering the event. It could have something to do with Richard Pratt, writes Nicholas Pickard.
Is Richard Pratt Australia’s corporate Houdini?
While Richard Pratt rummages through Visy’s petty cash tin to come up with $38 million, those with long memories will know this isn’t Pratt’s first corporate escape. Pratt’s role in the infamous BHP-Elders transaction is one which warrants further explanation, writes Adam Schwab.
70% say jail Pratt. I like him, says the PM
ACCC chairman Graeme Samuel argues that price fixing offences should attract a criminal penalty, being a “form of theft and little different from classes of corporate crime that already attract criminal sentences”. It seems that the majority of Australian agree, writes Jonathan Green.
Will Pratt be punished for his lack of remorse?
While Visy has agreed to plead guilty – its actions, and the actions of Richard Pratt don’t exactly indicate a great deal of contrition. writes Adam Schwab.
The Daily Verdict: Day 3 and Ben Cousins helps Labor
Ben Cousins has rescued a side many times and yesterday he came to the aid of Labor, pushing the talk of tax cuts right down the news agenda, writes Richard Farmer.
Tips and rumours
Why are the Fairfax board members flying to their board meeting in New Zealand in a private jet owned by Richard Pratt, given the pasting the Fairfax press has just inflicted on the self-confessed cartel participant? Apparently Pratt agreed to let the Fairfax board use the Visy jet before coverage of his admission started, and […]
Pratt the winner: $36 million just a drop in the bucket
Dick Pratt walked out of the Federal Court in Melbourne today with a big smile on his face. And why wouldn’t he, writes Stephen Mayne.
Dick Pratt takes money from ordinary Aussies — so where is the uproar?
Steve Vizard and Rodney Adler would be within their rights to be feeling a little hard done by at the moment. Richard Pratt has had much better treatment, though his actions have cost ordinary Australians more, writes Adam Schwab.
$40 million = small beer for Australia’s third richest man
Compared to overseas precedents and Richard Pratt’s own net worth, negotiating a $40 million fine for being caught red handed in a multi-billion price fixing scam looks to be one of Pratt’s most astute deals ever, writes Adam Schwab.
Pratt’s insults not quite disguised as an apology
The spinners and lawyers who’ve crafted Dick Pratt’s letter to Visy customers have done Pratt and Visy no favours. Instead of a mea culpa, they’ve crafted an insult, writes Michael Pascoe.
Crikey Says: Crikey Says
Richard Pratt’s honorary Doctorate in Law from Melbourne Uni is a qualification that presumably gives him unusual insight into these thoughts from ACCC chairman Graeme Samuel on the operation of cartels, a ”form of theft … little different from classes of corporate crime that already attract criminal sentences”.
