Rudd's $42 billion Nation Building and Jobs Plan outlined

The Prime Minister announced today a second stimulus package which includes these key elements:

• Free ceiling insulation for around 2.7 million Australian homes
• Build or upgrade a building in every one of Australia’s 9,540 schools
• Build more than 20,000 new social and defence homes
• $950 one off cash payments to eligible families, single workers, students, drought effected farmers and others
• A temporary business investment tax break for small and general businesses buying eligible assets
• Significantly increase funding for local community infrastructure and local road projects

More offical detail can be found here.

Crickey has graphs showing which electorates will get the bulk of child and school related payments and funding at Kevvie Cash Rewards

Red face for Nationals Luke Hartsuyker over fuel prices

Despite a great deal of wasted ink, Nationals MP for Cowper Luke Hartsuyker just could not support his contention that the Rudd Government was wrecking all for North Coast motorists and businesses.

Federal Member for Cowper Luke Hartsuyker has slammed the country's Petrol Commissioner and Prime Minister Kevin Rudd for failing to help local motorists still forking out unnecessarily high prices for unleaded fuel.

First the Petrol Commissioner told him that the difference between Kempsey and city unleaded petrol average retail prices was only around 4 cents a litre for the second half of 2008.

Now according to The Land on Saturday:

The difference between city and country fuel prices is no reason for alarm, according to the Australian Competition and Consumer Commission (ACCC).
This is despite calls for a full investigation into the price gap by country MPs last week.
The ACCC says some country petrol prices last week were cheaper than Sydney and Melbourne prices.
ACCC commissioner and petrol spokesman, Joe Dimasi, visited Central Queensland last week to talk to angry country motorists and see for himself what was going on with petrol prices.
The visit followed a formal request from Nationals leader, Warren Truss, and Opposition spokesman for competition, Luke Hartsuyker, for the ACCC to thoroughly investigate the disparity between petrol and diesel prices, and city and country fuel prices.
Mr Truss said diesel was traditionally much cheaper than petrol, and its current high price was flowing through to the cost of transport and food.

It would appear the Mr. Hartsuyker is not beginning the year with any political flourish.

'Truffles' Turnbull's latest tack

Dear Voter,
I'm writing to let you know that Edward Gough Whitlam is alive and well and heading the country as Australian Prime Minister in 2009.
You may have been a little confused because his official biography doesn't mention him being a rather younger, chubby fellow hailing from Queensland.
But do not be fooled - the PM is really Gough after a clever makeover paid for by Unions Australia.
If Gough-in-disguise comes to your door asking for your vote it would be wise to have lots of garlic and holy water handy to ward him off.
Australia's economy depends on returning to government all those politicians who so enthusiastically supported a deregulated global financial system.
Julie, Joe and Tony join me in saying: Remember, greed is good for the nation.
Sincerely,

Malcolm Bligh Turnbull

P.S.
This letter was paid for by donations from my friends Bankers International and Big Business.

Storm Financial: if it looks too good to be true then it is

Storm is one of Australia's largest and fastest growing Financial Services firms. Our strength comes from providing services and advice, based on sound research, which integrate smoothly with your life goals and ambitions.
Investing successfully is about fulfilling your full financial potential; not about being constrained by the limits of your present position.
We take the confusion and complexity out of investing and provide free investor education so you can make informed choices to create the quality of life you desire.

So said Storm Financial (formerly Ozdaq Securities and Cassimatis Securities) in 2005.

Supposedly the principals now have to sell all after the company's financial collapse leaves them facing personal bankruptcy.

Though the media have been somewhat silent about another company Ignite Financial Systems & Research Pty Ltd (formerly Storm Financial Research and Ozdaq Research) apparently owned by Storm principals and rumoured to be operating in Victoria as well as in Queensland and, which has Storm Financial as a client.
It is not clear whether this firm has been protected from the financial meltdown or indeed if any of the other companies which appear to be associated with Storm are not at risk.

It has also been reported that the Financial Planners Association has terminated Storm's membership with some stern words.

Matters are likely to go from bad to worse for Storm clients, for besides having to meet horrendous margin calls it is possible that the Australian Tax Office may come calling about how various advisers structured their tax.

Legal action by former Storm clients against everyone they can think of may be the only way to stave off further loss/debt.
At last count their combined debt was estimated at $100 million.

Courtesy of The Wayback Machine here are website screen shots from October 2007 and January 2009.

Then...................

Now....................

Update:

• Emmanuel Cassimatis admits it was he who discussed with the Commonwealth Bank the fact that many Storm clients would be unable to meet margin calls, two weeks before the bank contacted these clients.
• Supreme Court freezes bank account linked to Storm Financial, 4 Februaury 2009

Scorching Australia: interviews with Wong, Lindesay and Evans on climate change

Photograph from the ABC

Australia's southern states are struggling through what is likely to be a once-in-a-century heat wave. ABC's Canberra correspondent, Linda Mottram in an extended interview with Doctor Janette Lindesay, associate professor of climatology, Australian National University last week.
Interview can be heard here:
Listen: Windows Media

An earlier interview with Julie Evans, meteorologist at the Australian Bureau of Meteorology in Sydney, Penny Wong, Australia's Climate Change Minister, Doctor Janette Lindesay, associate professor of climatology, Australian National University can be heard here:
Listen: Windows Media

ABC News report on last year's southern heatwave.

How Rudd & Labor can lose the 2010 federal election

What with Turnbull and Truss still rummaging around for a hat to match that Coalition overcoat, it looks nigh on impossible for the Rudd Government to lose the next federal election.
Ah, but wait.
Every Australia Day the ugly little republican imp is let loose and the media delightedly stir the common pot.
According to the Canberra Times the Australian Republican Movement wants Rudd to fire the starter's gun so voters can decide if Australian is to be a republic.
The BBC weighs in with a little ambivalence on the subject.
For once David Flint writing for the ABC News hits the nail on the head with a piece titled Republican push divisive, expensive and irresponsible.
The Courier Mail baldly says that Rudd has ditched the plan because of a feared voter backlash.

Faced with the increasingly nasty effects of climate change and in a long period of economic uncertainty affecting every facet of life; all Australia needs to turn it snarling on the ruling political party is for that party to decide that we need more disruptive change and insist the country debate and vote on a republic.
If Rudders resists the urge to begin this republican debate then all will be well.
If not - then bring on the next federal election and I for one will delight in voting the bustards out 2010.
We need the short-sighted and naked self-interest of pollies messing with the Australian Constitution like we need the discovery of mad cow disease within our borders.

First bumper stickers, t-shirts and coffee mugs - now Obama is a worm!

During the 2008 presidential election campaign the Obama for America team branded almost everything that moved with logos and slogans promoting Barack Obama.

During the transition period for President-elect Obama his face began appearing on even more merchandise.

Now as President Obama his face appears on PC monitors if these have been infected with an Obama Worm.

The worm spreads via USB drive, using the Windows autorun feature to install itself automatically on any drive it connects with. Unlike most of today's profit-driven malware, the Obama worm doesn't steal your credit card number or turn your PC into a remote-controlled zombie system. In fact, it isn't designed to do anything besides float a small picture of Obama at the bottom right corner of your desktop all day every Monday.

Unfortunately, it is so badly written that the worm gradually renders any PC it is run on completely useless, according to Rob Koliha, Walling Data's director of innovation. "It will basically prevent execution of any kind of files."

Because antivirus programs don't detect it yet, it's also hard to know when you've been infected, except on Monday.