The many faces of Clive Palmer in 2012

Poor ol’ Clive – his billions can’t protect him from himself.

Courier Mail 31st January 2012

“Mr Palmer's China First company is launching an $8 billion lawsuit against rail operator QR National for competing with his plans to build a 500km rail link to carry coal.

On social network Twitter this morning, Mr Palmer said he would sue the Bligh Government over the decision.”

9 News 3rd February:

“Mining magnate Clive Palmer says he will consider a tilt at media ownership like his billionaire counterpart Gina Rinehart who has become Fairfax Media's biggest single shareholder.”

International Business Times 23rd  February:

“Mining mogul Clive Palmer sought this week to oust world-renowned hotel management firm Hyatt Hotels Corp from the Queensland golf resort that he had acquired last year.”

Bigpond Money 15th March:

“As it currently stands, Palmer has been stripped of his licence by Football Federation Australia (FFA), a legal stoush is in the making and heated words have been exchanged between him and fellow billionaire Frank Lowy.”

Yahoo! 7 Finance 15^th March:

“Queensland mining magnate Clive Palmer has indicated there will be a High Court challenge against the carbon tax because he has advice the legislation is unconstitutional.

The legislation has passed both houses of Parliament and is due to come into effect in the middle of the year.

The Coalition has promised to repeal the legislation if it wins the next election.

Mr Palmer, who is a financial backer of the Coalition, first threatened to challenge the legislation last year and now says he is going to act on it.”

The Age 17th March:

“IT'S late Thursday night and millions of dollars in cash and a billion tonnes of iron ore are being traded in mining magnate Clive Palmer's name. It is enough to make a finance reporter weep.

Palmer's private company, Mineralogy, is seeking to buy 50 per cent of another private company that is wholly owned by a public company whose biggest shareholder is … Clive Palmer. As part of the deal, the private company that Mineralogy is pursuing has agreed to buy a fourth private company that is wholly owned by Mineralogy and therefore majority owned by … Clive Palmer.

Finally, emboldened by a hand-drawn diagram of the deal and a brief conversation with a worker (not Palmer) at one of the companies involved, your correspondent summons the confidence to declare that this is a deal between four companies controlled by the same man.

And while it isn't the most significant corporate play to hit the markets this week, the transaction neatly sums up the past few days in Australian life: no matter where you turn, Palmer is there.”

The Sydney Morning Herald 20^th March:

“Mining magnate Clive Palmer won’t seek a High Court injunction to stop the federal government’s mining profits tax.

Mr Palmer said the tax is bad for the national economy, but it won’t affect him directly.

‘‘It probably won’t cost me anything because I’m not mining anything that comes under the classification of it,’’ he told reporters in Brisbane today.”

News.com.au 20th March:

“BILLIONAIRE Clive Palmer has made bizarre claims the CIA is backing green groups in a bid to kill the Australian coal mining industry.

And he appeared to suggest that US President Barack Obama was directly briefed on the sabotage.”

Courier Mail 21st  March:

“BILLIONAIRE mining magnate Clive Palmer's failing luxury Sunshine Coast international resort was likely to run out of money to keep it operating by the end of next week, a court has been told.

The Supreme Court in Brisbane was today told an operating account funded by Palmer's companies and used by the Hyatt Group to run the Regency Coolum Golf Resort and Spa was likely to run out of money within a week.”

The Australian 21^st March:

“ACTIVIST group GetUp! will fund a legal suit against Clive Palmer after the billionaire linked environmentalist Drew Hutton to an alleged CIA plot to damage the Queensland coal industry.

Mr Hutton told The Australian Online he had been bombarded with offers of financial support and revealed GetUp! had made an offer this afternoon to finance his legal case for defamation.”