Monday 7 October 2013
Metgasco Managing Director & CEO threatens to quit if he doesn't get his bonus share allocation
Metgasco Limited Managing Director and CEO Peter Henderson is now the 18th largest shareholder in this coal seam gas exploration and mining company operating on the NSW North Coast.
At the next annual general meeting Mr. Henderson was expecting a further share allocation, until a shareholder group made it known that it will not support the award of shares for the performance of Mr Peter Henderson in his role as Managing Director.
Henderson has now publicly spat the dummy.....
The Daily Examiner digital edition 7 October 2013
However, it is almost a certainty that this threat pertains only to the role of Chief Executive Officer.
Peter Henderson has been one of only four directors of the company since 4 April 2011 and is unlikely to resign that board position - he has 2.5 million shares and a lavish lifestyle to protect.
Labels:
Coal Seam Gas Mining,
Metgasco,
Northern Rivers
Mayor circles wagons around 2013 Clarence Valley Ambassador Wal King
Clarence Valley Council’s choice of honorary Clarence Valley Ambassador 2013 has become somewhat problematic and, Mayor Williamson clings to an assurance from an unidentified source that the Australian Securities and Investment Commission is unaware of any new incidents. However, the Commission is not responsible for investigating recent allegations.
The situation so far.......
Honorary Doctor of Science (UNSW) Wallace Macarthur King AO retires as Leighton Holdings CEO on 31 December 2010.
On 1 January 2011 he became a consultant to Leighton Holdings.
On 1 January 2011 he became a consultant to Leighton Holdings.
Between 1998-9 and 2007-8 companies within the Leighton Group donate a total of 838,000 to the Federal Liberal and National parties and, a total of $643,400 to Federal Labor between 1998-9 and 2009-10.
Clarence Valley Council media release 1 August 2013:
This year Mayor Richie Williamson bestowed the Honour of Clarence Valley Ambassador on Wal King.
“Wal King grew up on a dairy farm in Copmanhurst, went to Grafton High School and eventually became CEO of Leighton Holdings.” said Mayor Richie Williamson
In receiving the honour Wal King said “I’ve always had a belief that if you remain true to your values and have the right people you will get your results. That’s something I’ve applied all the way through my career and I’m still of the view that you need to set a framework for people. ”
Mayor Richie went on to state “Wal has a long list of achievements and one benefit of the Ambassador Award is to show the Clarence’s talented young people that dedication and hardwork opens up opportunities for everyone”....
Mayor Richie Williamson with Clarence Valley Ambassador Wal King
Clarence Valley Review 7 August 2013
Australian Financial Review 26 September 2013:
Former Leighton Holdings chief executive Wal King has been approached by Communications Minister Malcolm Turnbull about joining the Coalition’s NBN Co board.
The approach is understood to have been made before the federal election.
Mr Turnbull is looking for board members with experience rolling out construction projects and telecommunications infrastructure.
The Sydney Morning Herald 3 October 2013:
Corruption and cover-ups in Leighton Holdings' international construction empire were rife and known to top company executives and directors, according to internal company files.
Those in the know included the Australian construction giant's chief executive at the time, Wal King, and his short-term successor David Stewart.
In revelations that will cause international embarrassment for Australia and raise questions about the role of the nation's corporate watchdog, the files expose plans to pay alleged multimillion-dollar kickbacks in Iraq, Indonesia, Malaysia and elsewhere, along with other serious corporate misconduct....
The Sydney Morning Herald 4 October 2013:
A Fairfax Media investigation can also reveal a small number of senior Leighton staff were so concerned by a $6 million consultancy awarded to Mr King upon his 2011 departure that external legal advice was sought to determine if it might have breached Australian corporate laws that apply to retirement benefits.
The legal advice was sought in July 2011 after it was discovered that the terms of the consultancy agreement organised before Mr King's departure meant he would be able to invoice Leighton for $6 million in fees over three years without having to provide any services.
The Australian 4 October 2013:
FORMER Leighton Holdings chief executive Wal King has written to Fairfax Media to demand it publishes page one apologies across The Sydney Morning Herald, The Age and The Australian Financial Review, to mitigate damages for reports alleging Mr King approved the payment of a bribe in a deal in Iraq.
The letter from Mr King's lawyers Atanaskovic Hartnell is the first formal response by the high-profile executive to the string of articles published by Fairfax yesterday and today.
Fairfax reported yesterday that it had obtained hundreds of confidential Leighton documents, including a handwritten note allegedly written by then-acting chief executive David Stewart in November 2010 that in turn alleged his predecessor Mr King had approved $42 million in kickbacks to a firm in Monaco nominated by Iraqi officials for a $750m oil pipeline contract.....
The matters are being currently investigated by the Australian Federal Police, which negates the need for any ASIC action at this stage.
The Australian 4 October 2013:
Mr King yesterday conceded that reports published by Fairfax Media that bribery, corruption and cover-ups at the company's international empire were known to Mr King and others -- claims he denied -- had damaged his chances of an NBN Co board position. "I don't think the NBN is going to happen now, do you?" Mr King said.
The Daily Examiner Page Three 4 October 2013:
Speaking yesterday, Cr Williamson said as yet there was no impact on Mr King's role as ambassador.
"I've just heard that the Australian Securities and Investments Commission is unaware of any new incidents or instances, so at this stage there is no change in plans at all," he said.
Herald Sun 5 October 2013:
Leighton says it is cooperating with Federal Police who are investigating the matter.
The corporate watchdog, the Australian Securities and Investments Commission, has said it was not responsible for investigating the claims.
UPDATE
UPDATE
As
the bribery scandal engulfing construction firm Leighton Holdings continues, it
can be revealed that a public inquiry previously found former executive Wal
King was not of good repute, ''having regard to character, honesty and
integrity''.
In
1994 Leighton Holdings had joined forces with US gambling firm Showboat to win
the tender for the new Sydney casino. But a public inquiry into the probity of
the Showboat group proved damaging for Mr King, who was found not to be of good
repute. Two Leighton companies were also found to be ''not of good repute,
having regard to honesty and integrity''.
The
final report of the NSW government's Casino Control Authority Inquiry has been
obtained by Fairfax Media. The inquiry was headed by Murray Tobias, QC.
The
inquiry found Mr King and fellow Leighton executive Vyril Vella ''were involved
with and had knowledge of'' the illegal practice of paying unsuccessful tender
fees. This involved collusion between construction companies so winning tenders
paid fees to the losers. These payments were then billed to the client with
false invoices.
In
his final report, Mr Tobias said he was ''not entirely satisfied that he [Mr
King] accepts even now that the practice of false invoices was dishonest''.
Mr
Tobias also referred to cross-examination of Mr King during the course of the
inquiry. Referring to false invoices, Mr King was asked: ''And a fair-minded
observer may take the view that you were doing it that way in order to hide
something that you regarded as wrong?''
Mr
King replied: ''Well, with the benefit of hindsight, that interpretation can be
put upon it, and I accept that as maybe one interpretation.''
He
also concluded Mr King ''did not, apparently, have the strength of character to
identify the problem at an earlier point of time''.
Nor
did Mr King concede it was dishonest of Leighton Contractors to falsify company
records. Instead, the Leighton chief observed there was ''a body of opinion out
there that says it's shady''.....
Labels:
Clarence Valley Council,
Dr. Wallace King
The Daily Examiner erects Coward's Castle
On 20 September 2013 The Daily Examiner published this rather silly and misleading, but otherwise unremarkable, letter to the editor:
Snapshot taken from The Daily Examiner digital edition
The letter’s subject matter did not indicate insider knowledge with regard to a contentious local issue or reveal circumstances of a highly personal nature to illustrate a point, which might perhaps at a stretch justify "Name supplied".
What this letter signalled was that the newspaper was abandoning the long held media policy that anonymity was not the default position in print editions.
Anonymity via avatar/pseudonym may have become the default position for comments on a newspaper website because that is the default position of the Internet, but it clearly has not yet become industry policy for newspapers one holds in one's hand.
So anonymous political comment was again rearing its ugly skull where it shouldn't have been found - under a venerable print masthead.
What this letter signalled was that the newspaper was abandoning the long held media policy that anonymity was not the default position in print editions.
Anonymity via avatar/pseudonym may have become the default position for comments on a newspaper website because that is the default position of the Internet, but it clearly has not yet become industry policy for newspapers one holds in one's hand.
So anonymous political comment was again rearing its ugly skull where it shouldn't have been found - under a venerable print masthead.
At least two readers[1] independently wrote to The Daily Examiner about this letter to the editor and set out below are one of these emails and the reply received, with gleeful identity redactions in mock homage to the newspaper's new policy.
Because it turns out that the only criteria for being granted anonymity is that one be “a regular contributor” and “well known to The Daily Examiner”.
On that basis most regular letter writers could ask for anonymity.
Never one to let an opportunity pass me by I have since submitted a blanket request for anonymity myself, in order to participate on a level playing field within the confines of Coward’s Castle.
I suggest Fred Perring, John Edwards, and a slew of other regular print correspondents, all apply to have their names and addresses withheld.
After all, The Daily Examiner relies on correspondence from such people to create a regular letters section six days a week, so why should they be denied that which was so freely given to another.
Even the rather notorious Zussino might once more grace The Daily Examiner letters page under this very liberal policy, as he would no longer have to dream up so many pen names and fancy titles.
I’m sure many in the Clarence Valley would enjoy the ensuing confusion and endless identity guessing games at the breakfast table.
So what is actually known about the letter to the editor in question? It was sent as an email, the sender was not a Daily Examiner employee, he/she is a regular contributor of unspecified content, didn't want to be identified by readers - and he/she lacks a spine.
One wonders if this person is aware that anonymity may not last for long in a valley with closely linked communities.
One also has to wonder why APN’s Regional General Manager NSW would pen the weak excuse set out in the aforementioned email exchange:
From: Brent Rees [mailto:Brent.Rees@apn.com.au]
Sent: Wednesday, 2 October 2013 4:36 PM
To: [redacted]
Cc: Shannon Newley; jenna.cairney@dailyexaminer.com.au
Subject: RE: Letters to the editor policy and anonymous publication of political comment
Sent: Wednesday, 2 October 2013 4:36 PM
To: [redacted]
Cc: Shannon Newley; jenna.cairney@dailyexaminer.com.au
Subject: RE: Letters to the editor policy and anonymous publication of political comment
Dear Ms [redacted],
Your email has been forwarded to me (Regional General Manager NSW).
APN’s rigour around validation of Letters to the Editor is bound by our code of ethics with regards accuracy, authenticity and respect of sources.
In the case of the letter you are referring to, I have established it was written by a regular contributor who on this occasion requested their name be withheld.
Given they are well known to The Daily Examiner, the request for anonymity was granted.
I trust this satisfies your enquiry.
Kinds regards,
Brent
Brent ReesRegional General Manager NSW
| |
53 Moonee Street | Coffs Harbour | NSW | 2450
M 0417 200 090 F 02 6624 7265 brent.rees@apn.com.au | www.apnarm.com.au | |
From: [redacted]
Sent: Friday, 20 September 2013 11:00 AM
To: Shannon Newley
Cc: Jenna Cairney; Judy Lewis; Reception WilliamST
Subject: Letters to the editor policy and anonymous publication of political comment
Sent: Friday, 20 September 2013 11:00 AM
To: Shannon Newley
Cc: Jenna Cairney; Judy Lewis; Reception WilliamST
Subject: Letters to the editor policy and anonymous publication of political comment
Shannon Newley
Acting Editor
The Daily Examiner
20 September 2013
Copy to:
Jenna Cairney, Editor
Judy Lewis, Operations Manager
Peter Cosgrove, Chairman APN News & Media Board
Dear Ms. Newley,
Re: APN News & Media-The Daily Examiner publication policy in relation to Letters to the Editor and anonymous publication of political comment
I am seeking clarification of The Daily Examiner’s formal or informal policy concerning letters to the Editor, in light of the anonymous letter published under the heading “History of Women” in the 20 September 2013 print issue at Page 12. [See letter snapshot from the digital edition below]
I further ask:
(i) what is newspaper’s current formal or informal letter publication policy;
(ii) does this letter met the newspaper’s current policy;
(iii) does the newspaper’s current policy accord with any overarching APN News & Media policy concerning anonymous publication;
(iv) did the letter writer request anonymous publication; and
(v) what reasons if any were given if such a request was made.
I respectfully request a written explanation in reply, as a reasonable person could entertain the idea that this particular anonymous letter was written by an APN employee/The Daily Examiner staff member and, was published with the express intention of inciting further debate on the subject matter in the newspaper’s regular letters section.
Such a motive would not live up to either the ethical or good governance standards expected by readers of APN New & Media publications.
In anticipation and appreciation of your assistance with this matter.
Sincerely,
[redacted]
[redacted]
[1] It is my understanding that the second reader was promised feedback on her issues regarding the anonymous letter to the editor, but to date hasn't heard a word from The Daily Examiner.
Labels:
Media Watch,
stupidity,
The Daily Examiner
So what does being politically right-wing really mean?
“People on the social right tend to be more closed-minded,
more focused on out-groups, more authoritarian, more militant, punitive and
retribution-minded”
[Dr.
Peter Hatemi a research fellow at the United States Studies
Centre at the University of Sydney and Associate Professor of Political
Science, Microbiology and Biochemistry at Pennsylvania State University]
Labels:
Australian society
Sunday 6 October 2013
Richmond Valley Watchdog alerts Northern Rivers to NSW Government's search for two new spin meisters
From the Richmond Valley Watchdog’s post NSW Government Hires Spin Doctors to Flog Flawed Planning Laws on 8 September 2013:
Labor fires a shot across the bow
The Daily Examiner letter to the editor 25 September 2013:
Coalition repeat job
The new Coalition Government has reinforced its historical neglect of regional Australia by announcing it will axe the Department of Regional Australia.
They are repeat offenders in this. Whether it was Robert Menzies who scrapped Chifley's co-operative regionalism program, Malcolm Fraser who obliterated Whitlam's Department of Urban and Regional Development, or John Howard who took the axe to that same department after the Hawke-Keating governments committed to rebuilding it, the Coalition has a lamentable record.
It means that all of us in the great regions around the nation will now need to steel ourselves for a battle to secure the support and funding required to ensure economic and social cohesion outside the capital cities.
It already appears clear that the Coalition will also not honour funding for 103 projects across regional Australia with a combined project value of more than $1 billion that I signed off on as minister but for which contracts were not concluded before the election.
To throw regional needs and priorities like these into the mix of a super-sized government department is clear evidence of the Coalition's apathy towards regional Australia.
After promising the National Press Club just weeks ago that regional development would be at the forefront of the Coalition's policy agenda, Nationals Leader Warren Truss has yet again been rolled by the Liberal Party.
If the Nationals cannot stand up for regional Australians, who can they stand up for?
Just as Prime Minister Abbott has dissolved the department responsible for foreign aid, split small business across departments, paid lip service only to disability and aged care and abolished the regional department, his message is very clear. If you're not front and centre, you won't be heard under Prime Minister Abbott.
The Hon Catherine King MP, Acting Shadow Minister for Regional Australia
Labels:
politics
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