Captain Blighs Fire Sale.

[poidda]

Is it just me, or is this possibly the stupidest thing the government can do at the moment. Sell off all assets that actually make a profit and keep the rest. The major things up for sale are:


Queensland Motorways
Queensland Rail's coal haulage business
Port of Brisbane
Forestry Plantations Queensland
Abbott Point Coal Terminal

It's a known fact that the only thing in QR that makes money is the coal haulage. Everything else is propped up by this. And to sell the money making machine called the Gateway Bridge baffles me. I don't know what the Port or Forestry Plantations turn over, but I'm guessing they aren't exactly losing money.

Granted the lull in the mining has cut $200 Billion in tax revenue for the Nation, and a fair chunk of that would be in Queensland, but a quick cash grab of $15 Billion is so short sighted.

http://www.news.com.au/couriermail/story/0,23739,25578138-952,00.html


EDIT: For the staunched Liberal supporters, forget posting. Those posts got boring about 300 posts ago.

[dc68]

I can't believe this slut reckons she has a mandate to do this..... WTF? I did not vote for her but I am sure all the people who did are entitled to ask where she pulled this pearl from. Can't remember seeing this "sale" as an election issue. If it had been she would never have been elected.

[BrisVegas]

If QR is split up and sold, we can kiss goodbye to exapansion of the current rail network. There's no money in the Passenger train business, so no incentive to expand it. This is why I hate seeing public utilities sold off. I see them as essential services that should be provided to everyone (within reason), not just to those areas that make money.

[just]

and Sell off all assets that actually make a profit
I don't have too much of an opinion on this, but surely the only assets that private enterprise will buy are the ones that make a profit.

I think the reasoning goes something like this, sell it off and get a big cash injection, private enterprise then makes the business more efficient and profitable and then the state then also reaps the benefit of higher company taxes. It's questionable and ripe for debate, as is whether the government had a mandate for this level of sell off.

[Coffs_Hacker]

Worked for john howard - he sold almost everything to return a surplus and then sprooked about how economically brilliant he was.

[poidda]

Actually some Assets that the Government own that could be sold off to benefit the public are the sporting grounds. eg, Lang Park.

Then hopefully it would be run like the MCG and all the other Vic grounds. In comparison the teams that play at Lang Park get slugged a minimum of $250,000 a game to hire the venue, where in Vic the AFL get paid $90,000 a game to play at the MCG. (plus bonus' for every person over a target number)

[PeteyD]

They are selling it off to reduce debt. They managed to maintain the debt during the good years when the interest rates were high as well. It is terrible mismanagement to arrive where they are. The have failed to save when the times were good, and continued to forecast record levels of growth and base the budget on that. Now that the growth has dropped they have a big hole, and rather than cut building / spending they are selling off assets. Typical stupid reactionary policy that our 3 years and get voted in again system creates.

They will not get the forecast amounts for their struggling infrastructure, if they can find someone to purchase it in these times anyway.

[PeteyD]

Worked for john howard - he sold almost everything to return a surplus and then sprooked about how economically brilliant he was.


What did he sell off?

[dc68]

Good question pete.

[poidda]

What did he sell off?

Did he sell Telstra?

[just]

Telstra and Medibank.

[just]

Airports and majority of the CBA.

[just]

National rail assets.....other than that he didn't sell a thing.....

[PeteyD]

And have they worked as you stated earlier Just? Or does it not work like that?

[poidda]

National rail assets.....other than that he didn't sell a thing.....


Including this!!!

http://shop.nla.gov.au/images/ebility/9780522855227.jpg

[Bruce]

Actually some Assets that the Government own that could be sold off to benefit the public are the sporting grounds. eg, Lang Park.

Then hopefully it would be run like the MCG and all the other Vic grounds. In comparison the teams that play at Lang Park get slugged a minimum of $250,000 a game to hire the venue, where in Vic the AFL get paid $90,000 a game to play at the MCG. (plus bonus' for every person over a target number)

But the Etihad Docklands Stadium is disastrous for most clubs. The break even point is nearly 35000 which is 2/3 of the capacity of the ground. North Melbourne have had to get out the cheque book for their last 3 games and hand over about $600k.

You might not want to cite that as an example to follow.

[just]

And have they worked as you stated earlier Just? Or does it not work like that?
Don't know Pete, just pointing out the Howard privitisations. In some cases I think they probably work, CBA for example, but I don't have the data, in other cases they probably didn't or its questionable whether you should have sold them off in the first place. Certainly room for a large amount of debate on the legitimacy of the Bligh government doing it, you won't get an argument from me on that.

[poidda]

I'm confused.



Medibank Private will become a for-profit government owned business by the end of calendar 2009, the federal government says.


http://news.smh.com.au/breaking-news-business/medibank-private-to-become-forprofit-20090512-b1tm.html

[poidda]

But the Etihad Docklands Stadium is disastrous for most clubs. The break even point is nearly 35000 which is 2/3 of the capacity of the ground. North Melbourne have had to get out the cheque book for their last 3 games and hand over about $600k.

You might not want to cite that as an example to follow.

Oh really! My bad. I thought this was run the same way as the G.

[just]

Sorry poids, that list was off the top my head. The Howard government took the policy to sell it off to the 2007 election, which they lost, therefore it wasn't sold off. We all make mistakes.:)

[AndyP]

I'm confused.

http://news.smh.com.au/breaking-news-business/medibank-private-to-become-forprofit-20090512-b1tm.html
Oh shit! I thought Medibank Private was ripping me off now.

[Daves]

The facts about privatisation of government assets in OZ;

http://www.rba.gov.au/PublicationsAndResearch/Bulletin/bu_dec97/bu_1297_2.pdf

Little Johnny would be chuffed to be being credited with so much of this, but Paul might be a bit pithed.

[PeteyD]

that's more along what I thought. It seemed to be an ongoing thing. the governments seem to prefer to offload stuff that requires upkeep and rely on tax revenue to replace the income stream. Unfortunately selling em off when the financial situation is like it is now seems wrong, as they will not get value for $$. Look at what the government got for telstra shares compared to the value of the company on the market.

[Daves]

I guess Kennett probably started it off, digging Vic out of the shit and paying off all that debt. From that point it is valid strategy (and probably the only choice they have!). But Pete's points earlier were spot on, they wasted the 10 best boom years we ever had and the state should not be in the financial mess it is in now! Pete the media tart got the best of it, didn't he! Talk about fortuitous exits!

[PeteyD]

Pretty sure he knew what was coming. He was one of the smartest and most savy politicians I have met.

[poidda]

I guess Kennett probably started it off, digging Vic out of the shit and paying off all that debt. From that point it is valid strategy (and probably the only choice they have!). But Pete's points earlier were spot on, they wasted the 10 best boom years we ever had and the state should not be in the financial mess it is in now! Pete the media tart got the best of it, didn't he! Talk about fortuitous exits!

Hindsight is a wonderful thing. It's a bit like our federal budget now. $50 Billion in the red, but that's after a drop of $200 Billion in tax revenue. So where did the $150 Billion a year go during the boom time?

[PeteyD]

I think you'll find it is $50 b a year to make the 200 B drop over 4 years. So there is not really a missing 150 b.

[poidda]

I think you'll find it is $50 b a year to make the 200 B drop over 4 years. So there is not really a missing 150 b.

Ahh yes, you're right. It is only $50 Billion a year decrease. My bad. Again! :roll:

[markTHEblake]

Selling the assets for worthless paper money or print more worthless paper money doesnt really make a difference which way they go. :-)

[Moe Norman]

I am not against the privatisation of assets, but to sell them at the bottom of the market isn't particularly wise.

[Courty]

Poidda, don't forget she just sold Cairns & Mackay airports as well. :roll:

[BrisWesty]

Dismal decision by a deceitful, dishonest dud of a premier.

[gazgolf1]

I did'nt vote for the c@#t and I did'nt vote for Rudd.

[damoocow]

Dismal decision by a deceitful, dishonest dud of a premier.

Agreed. She is a disgrace. About time the Unions that fund the ALP in Qld started pulling back their contributions.

[just]

Here is the link (http://www.lnp.org.au/join/295.html) for you lads......

.....oh my mistake, you're already paid up members.;) You could always join this mob (http://www.qld.alp.org.au/01_cms/details.asp?ID=5) and change the leadership, far better than wasting effort on an internet forum! Should have heeded Poid's first post:


For the staunched Liberal supporters, forget posting. Those posts got boring about 300 posts ago.

[damoocow]

Here is the link (http://www.lnp.org.au/join/295.html) for you lads......

.....oh my mistake, you're already paid up members.;) You could always join this mob (http://www.qld.alp.org.au/01_cms/details.asp?ID=5) and change the leadership, far better than wasting effort on an internet forum! Should have heeded Poid's first post:

Will be keen to see how she gets on at the State Conference this weekend - any applause will probably demonstrate how gutless the average ALP member is.....and no I am not an LNP member...more a disgruntled QTU member..

[just]

Yes there will be plenty of unhappy union members at the conference, Damo, from what the press are saying.

[23Rounder]

My personal opinion is that some assets should definately be state owned (Services like like water / power) and while Little Johnny may have sold off some things that I thought he shouldn't have at least he was smart enough to sell at the top of the market. Even a complete dope knows it doesn't make sense to sell during a recession unless you are forced but good ole Captain Bligh just doesn't seem to be that smart.

[BrisWesty]

http://www.news.com.au/couriermail/story/0,23739,25591055-952,00.html

It just gets better and better. Even her own branch can't stand her! Looks like she may need to find a new job, because she may not get endorsed for the next election.

[Moe Norman]

Here is the link (http://www.lnp.org.au/join/295.html) for you lads......

.....oh my mistake, you're already paid up members.;) You could always join this mob (http://www.qld.alp.org.au/01_cms/details.asp?ID=5) and change the leadership, far better than wasting effort on an internet forum! Should have heeded Poid's first post:
so you agree that selling assets at the bottom of the market is wise??

[just]

You didn't read my other posts in this thread, Moe? I don't disagree with your premise that it may not be the premium time to sell off the assets. My post was aimed at the three above that which contained nothing of substance.

[kpac]

who are the winners that votes yes?

[Dazza]

http://i78.photobucket.com/albums/j100/bns_warrior_nt/0666005900.jpg

[TheNuclearOne]

I work in QR, and have for 21 years. We could strangle the b*tch up here. Our 3 unions were told pre election we would not be sold. I was at the statewide hookup a week or two ago and there's a helluva hornets nest. Whether it matter is another thing but we all voted for her (QR) and she has blatantly stabbed us in the back. Only 2 opposed her in the first vote and locals Schwarten and that other tosser weren't them. This will surely mean the end of Schwartens long career.