This just come in from Dow Jones Newswires:"Telstra Chairman...

This just come in from Dow Jones Newswires:

"Telstra Chairman Says Future Fund Voting Against All Resolutions At AGM
19/11/2010 1:21PM



MELBOURNE (Dow Jones)--Australia's sovereign wealth fund, the Future Fund, has voted against all resolutions at Telstra Corp.'s (TLS) annual general meeting, Telstra Chairwoman Catherine Livingstone said Friday.

The extraordinary revelation is a major blow to the relationship between Telstra and its biggest shareholder. The Future Fund is an arm's length fund set up by the Australian government to cover public pension liabilities.

The Future Fund recently sold down its stake in Telstra to 9.9% from 10.9% and has indicated it plans to further reduce its stake in Australia's biggest telecommunications company.

The news comes as Telstra's share price languishes around all time lows. Telstra shares hit a record low of A$2.55 Thursday.

Representatives for the Future Fund weren't immediately available to comment on the decision to vote against all the resolutions at the meeting, including the appointment of new director Nora Scheinkestel, Telstra's remuneration report and changes to the group's constitution.



-By Lyndal McFarland, Dow Jones Newswires"

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Just to let you all know what is the "Future Fund". It is a fund set up to make sure public servants, but, mainly past and present members of parliament, are all well looked after in their retirement by the very, very generous super superannuation schemes they are entitled to.

And... whom is running the show ? Well... it's none other then good ol' David Murray.
When he was the CEO of the CBA, he screwed the workers and he screwed the shareholders, all whilst feathering his own nest with $30,000,000 bonuses.
He will, no doubt screw the Future Fund, leaving the tax payer to foot the bill.