Sorry, just had to vent my frustration at the firb...Have attached a copy of my email to this group.
To the Board Members of FIRB,
I write this e-mail to you to express my displeasure and incredulity at your recent decision to extend for another 90 days the application from Oz Minerals for foreign takeover by Minmetals.
To place over 2000 employees in extreme jeopardy of losing their employment due to the probable administration of Oz Minerals through their management incompetence and your inability to make a decision in the best interests of this country leave me speechless.
Your lack of a decision in the time already allotted reeks of ineptitude and the political influence by a clumsy ineffective government that can’t make a leadership decision to save itself.
Surely it must be embarrassing for all members of the Firb to be perceived as a powerless group that must cater to the political whims of the labour party and its pandering to The Greens and an Independent Senator.
The question then that must be asked is if you are unable to make a strategic decision based on criteria already outlined by the Treasurer why do you exist at all? Wouldn’t it be simpler to just let Minister Swan decide what he thinks best, when he’s ready, and you lot just go off to for a long lunch.
From what has transpired that would seem to be more productive. You have already had over 30 days to make a decision and now you want to more than double that decision making period to another 90 days.
What a disgrace the FIRB is.
Love to hear your response.
OZL Price at posting:
$5.90 Sentiment: Hold Disclosure: Held
