Burnie Port Authority issue looks cut and dry.Not in this case....

Burnie Port Authority issue looks cut and dry.
Not in this case. Far from it.

Can you tell me if Telstra directly employ those "sub-contactors". Or, is there another layer of major contractors are there. There is.
Or, did NBN contractors - in a hurry to pass more homes - did they set fire to the warehouse?

Obviously, I am concerned for those exposed to asbestos fibre.

In the meantime - the ambulance chasers can smell a feed, the short one is angling for the leadership role post September poll, the media have a story and .... the Tony/Julie combo have long lost the moral high ground with anything asbestos.

David Thodey did the right thing - take responsibility for now because Telstra owns the pits and refrain from adding fuel to the hysteria. Responsibilities/Costs/main contractor liability/etc will all be worked out in time.

A 10c move down in the share price is about $1.2 billion - a lot of compensation money if indeed this should turn out to be a material issue. DT said today that this is not a material issue.

In the meantime, I am a very happy buyer of this blue chip with a yield of about 9% next year plus in less than 3 weeks a grossed up dividend of 20c.

Happy with that. GB