RDF redflex holdings limited

Yes we do Simon :) I thought that this might be a quieter, saner...

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    Yes we do Simon
    I thought that this might be a quieter, saner kind of place but there seems to be a lot of drama in Redflex’s history?
    ........including a murder back in 2009
    ..and the US (now ex) CEO being found guilty of serious corruption in 2016?

    upload_2019-7-28_19-20-56.png

    https://www.itnews.com.au/news/aussie-red-light-camera-maker-redflex-cops-texas-ban-525444
    Aussie red-light camera maker Redflex cops Texas ban
    Not so fine time in Lone Star state.
    JULIAN BAJKOWSKI
    MAY 20, 2019

    Australian drivers might be used to the ritual of braking to avoid getting snapped by a speed camera at seemingly every second set of traffic lights, but in Texas citizens want revenue raising safety traffic systems broken up and ripped out altogether.

    Melbourne traffic technology developer Redflex on Monday warned shareholders that the Texas state legislature had passed new laws that will allow its enforcement cameras to be banned on roads controlled by local authorities as well as issuing fines based on unhappy snaps of drivers.

    It’s another speed bump in the company’s efforts to export Australia’s often loathed innovation of automating fines issuance and traffic surveillance with Redflex saying the Texan ban is a “longstanding risk” of operating in the US.

    Redflex told investors it derived a rather unlucky 13 percent of its revenue in the six months to December 2018 from Texas and said it expects the ban “to have a material impact on the company’s financial performance but is unable to assess the quantum at this time.”

    “We are disappointed the clear benefits of enforcement have been overlooked with the enactment of bill 1631,” Redflex said.

    Australian states, of course, don’t suffer such disappointment with infringement revenue easily eclipsing the $1 billion a year mark. That said, Australian police chiefs don’t have to run for election like they do in Texas as the Lone Star state’s Association of Counties helpfully explains.

    There a red light ticket will set you back US$75, a figure way below Australian fine levels but still too much for the average Texan to cop.

    Texas isn’t the first state to create trouble for Redflex’s vision of a compliance cash machine.

    In 2015 Redflex’s US chief executive Karen Finley pleaded guilty to corruption over bribes and inducements made to a City of Chicago official to help win deals for the “Digital Automated Red Light Enforcement Program”.

    There was also trouble in Ohio where a smaller bribery scandal erupted.

    In 2009 one of Redflex’s employees was shot dead operating one of its cameras in Arizona.

    The company has been on the nose with Republicans and other opponents of automated law enforcement surveillance who feel humans should catch and fine humans.

    Redflex posted an after tax of $10.8 million for the six months ended 31st December 2018, an improvement of a $26.2 million loss for the previous corresponding period.”




    Back in 2010 Julian also reported on Redflex, this time for the AFR: https://www.afr .com/technology/arizona-razes-redflex-20100826-iv1av
    Arizona razes Redflex
    The citizens of Arizona may like tough laws to control immigrants, but don’t ask them to cop a ticket from a red light or speed camera if you want to stay in town.
    Julian Bajkowski
    Aug 26, 2010 — 12.14am
    The citizens of Arizona may like tough laws to control immigrants, but don’t ask them to cop a ticket from a red light or speed camera if you want to stay in town.

    That was the explanation to investors from traffic safety systems developer Redflex Holdings yesterday after one-off costs from legal disputes and expired contracts helped gnaw a $13 million hole in profit for the year ended June 30....”



    The corruption charges:
    August 20, 2015 ;https://www.justice.gov/usao-ndil/p...tion-awarding-city-chicago-s-red-light-camera
    .. “As the CEO of Redflex Traffic Systems Inc., KAREN FINLEY funneled cash and other personal financial benefits to a City of Chicago official and his friend, knowing that the payments would help persuade the city to award red-light camera contracts to Redflex, according to a plea agreement. The benefits included golf trips, hotels and meals, as well as hiring the city official’s friend as a highly compensated contractor for Redflex, according to the plea agreement.

    The benefits flowed over a nine-year period, from 2003 to 2011, during which time the city expanded the Digital Automated Red Light Enforcement Program by awarding millions of dollars in contracts to Phoenix-based Redflex, the plea agreement states.....”




    Also this scandalous account :
    “Ex-Redflex CEO Karen Finley Sentenced to 30 Months in Speed-Camera Bribery Scheme
    RAY STERN | NOVEMBER 17, 2016
    https://www.phoenixnewtimes.com/new...months-in-speed-camera-bribery-scheme-8833607

    Includes
    ... “Photo-enforcement programs, whether managed by Redflex or its primary competitor, Scottsdale-based American Traffic Solutions, have been a source of controversy for years in Arizona. A now-defunct freeway-camera system approved by former Democratic Governor Janet Napolitano caused a public outcry and led to the tragic slaying in 2009 of a Redflex photo-radar van operator in Phoenix. The tickets themselves can often be beaten simply by ignoring them when they come in the mail, because state law requires that in order to become valid, the tickets must be hand-delivered unless the recipient signs a waiver...”




    ......In what will be a not quite successful attempt to change the subject, I was reading today about how Australians are up in arms about Arnott’s being sold and the possible demise of the Orange Cream (thumbnail below):
    upload_2019-7-28_18-44-36.png
    disallowed/business/companies/why-a...the-end-of-orange-slices-20190725-p52akd.html

    It was calming to revisit this after reading all the above .

    The Arnott’s story reports on the psychology of changing the status quo and inherent perils ;
    Product changes are not typically received very well, and if handled incorrectly can incite some serious backlash from customers," Ms Williams said.”

    ..

    I was also coincidentally read about the mayhem in Shanghai where they want people to start recycling .https://qz.com/1659132/shanghai-is-giving-japanese-style-trash-sorting-a-try/

    People don’t like change and obviously the ones in America have strong views about change involving traffic cameras .
    But normally despite the resistance change does get it’s way .


    What are your views on the management these days Simon ...

    And thank you for pointing me to this very interesting company .
    Cheers
    Last edited by sabine: 28/07/19
 
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