good old cp.

http://au.finance.search.yahoo.com/r/_ylt=AwrTWfwv8ZNS8nQAYQa7vIlQ/SIG=13im8l58j/EXP=1385456047/**http%3a//au.finance.yahoo.com/news/clive-palmers-behaviour-threatening-investment-192301101.html


Clive Palmer's behaviour threatening investment by Chinese companies, Four Corners reveals
ABCBy Connie Agius and Mario Christodoulou | ABC – Mon, Nov 25, 2013 6:23 AM AEDT

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A Chinese company in business with federal MP Clive Palmer has warned that his aggressive behaviour could force other Chinese investors to reconsider putting money into his other ventures.

 CITIC Pacific's president Zhang Jijing told Four Corners that Mr Palmer's behaviour would be closely examined by the business community.

"As part of due diligence, naturally we would expect prospective Chinese investors in Mr Palmer's other interests to take a close look at our experiences.

They can draw their own conclusions," he said in a statement to the program.

Mr Palmer is in what is being described as a "poisonous" legal dispute with Chinese state-owned CITIC Pacific over royalty payments in a huge iron ore development in Western Australia.

The Sino Iron project is the largest ever Chinese investment in Australia.

But Mr Palmer rejected suggestions his behaviour towards CITIC would deter future Chinese investors in his ventures.

"You have to understand that people don't invest out of love.

I get married out of love; I have children out of love," Mr Palmer told Four Corners.

"The Chinese are not in Australia for a free handout or for charity and we don't want to be frightened about them.

They're here because it's in their interest." CITIC paid Mr Palmer's Mineralogy $415 million up front for the rights to mine low grade iron ore at Cape Preston in Western Australia.

However, the cost of the project has blown out to $7 billion and no iron ore has yet been shipped.

"Obstructive legal behaviour is unhelpful.

In fact, it's likely to delay resolution," Mr Zhang said.

"We will continue to protect our interests.

"We will deal with these issues, but remain focused on getting the project into production and commencing export." The dispute has spilled out of the courtroom, and the relationship further soured by Mr Palmer's aggressive out-of-office tactics.

A leaked voicemail message to a CITIC executive, first published by The Australian, shed some light on Mr Palmer's fury.

"You won't pay your bloody rates or pay your rent.

I've had enough of you.

So pack up all your gear and get back to China," he is recorded as saying.

The message continued: "If you continue to not pay your way, we're going to throw you off completely and close your project down." Mr Palmer rejected the idea that he bullied CITIC.

"How do you bully the Chinese government that executes 500,000 people a year, has a standing army of 3 million, and is a nuclear power.

Clive Palmer's not that tough," he said.

 Tonight's Four Corners will examine Mr Palmer's business interests and how they may have influenced his decision to enter federal politics.

Mr Palmer set up his Palmer United Party after a public falling out with Queensland's LNP.

Nationals MP Barnaby Joyce told reporter Marian Wilkinson that not all blame for the dispute rests with Mr Palmer, but in part with the Queensland Government.

"I don't think all the fault lies on Clive's side and that's for certain.

I think once this turned into a competition of personalities, logic on both sides quickly disappeared," he said.

"The art of politics is to avoid problems and to manage a way around problems.

You don't keep banging your head against a brick wall, let more heat come into the issue and build up."