Hi Walt: By your reply, apparently your intention is not to...

Hi Walt: By your reply, apparently your intention is not to debate the issue of whether or not it is in ERG’s financial interests to become involved in the AAC at the risk of possibly entering into another tender on a much reduced margin.

Rather you want to debate the card itself.

"I think you will find 50 countries Glo that are presently in the process of following the same or similar path as Australia. Ofcourse all contracts are different but there is one common similarity. The contracts are hotly contested simply because they are lucrative. ERG will not bid for unprofitable contracts so I can easily dismiss your first query. Secondly as I mentioned before the contract will be open ended. To suggest that ERG's foray into China would stymie any role in AAC again exposes how little you know about the company and its track record. Bite as much as you can and chew vigorously!".


That’s fine by me for I have read the paper concerning how the government plans to sell the idea to the public under the guise of stopping people from cheating on the welfare system. I very much doubt you have read any government documents on the subject, rather content to take the party line in the hope of making a couple of dollars.

"One paper geez I'm impressed. Glo that is nonsense but true to form. At least you are consistent. I notice that you continue to practice the same lazy attitude when you endeavor to grab a five millesecond bite. Google then copy. I remember the last time you did that, Foster Williams, ring a bell Glo? After you cover the Aus Govt try the US the Europe. They have progressed further down the scard track and ofcourse provide a far better insight into most of the pros and cons".

But there you are not alone. To quote Visa International: “THE federal Government's decision on a health and social services Access Card will have far-reaching benefits for the public, business and government. We see the initiative flowing on to the banking sector and expect it will complement the rollout of smartcards in the financial services sector.

Your dream could soon become companies such as ERG’s downfall with the banking sectors increased involvement.

"I have submitted countless postings explaining at length just how important it is for the Banks and Financial sector in general to invest in contactless payments. It is hard to see how mass consumer acceptance can possibly happen without collaboration of all sectors. That is a fundamental principle behind the strategies designed to provide a sound business case. But then you are not into fundamental analysis are you Glo? You are not into disciplined analysis either, that is clear. Just off the cuff drivel".



Let’s have a look at the data base the government has decided to use.
http://www.medicareaustralia.gov.au/about/about_us/annual_report/04_05/statistics/mcare1a.htm

100.67% of the population no less, from the ages of 0-4 years of age to over 85 years of age. That’s a pretty large net to catch a few little fish. Then let’s look at the number of people who will have access to the data collected. There will be three types of reader – to reach three different levels of information – the Government readers, the Medical professional readers and the emergency/ambulance hand readers. With the number of such readers being in the tens of thousands, forget about how secure the data is stored on the smart cards; the mechanism for the retrieving data from the cards will not be a secret for more than five minutes - Smart card or no smart card.

"Glo there are a number of ideas presented to the task force that propose anything from one data base to three to 16.9 million. It is foolish at this stage to form any strong opinions regarding the nature or integrity of the data base. I have read so many reports mostly from Europe and the US that have already achieved results from sytems that are similar in scope if not scale than the one mooted here. It is presumptuous and extremely foolish to make such strong statements particularly when you have absolutely no idea of how the data is stored or managed. Besides your mind is set. You are not open to progressive debate instead you quote a man that simply could not envisage the socio-political climate that we experience. Franklin was a forward thinker not regressive like you. Further if he were alive today he would understand why the entire world is heading down this path.But how could a man from an era like Franklin possibly comprehend the nature of global expansion and the threat of terror? How could he possibly envisage the issues of security and the massive cost of processing for example 17 million visits per annum at a cost of USD60. How could he possibly get his head around a $10 billion tax payer funded bill for simply processing visitors? There are so many more steps Glo. So many more issues that simply cannot be addressed with some antiquated ideology. You are not being fair to Franklin and you are deluding yourself!"


To quote Ben Franklin “Any society that would give up a little liberty to gain a little security will deserve neither and lose both”


Perhaps you classify him as banal, uneducated and reactionary as well.


Nahh just you.


Walt, has it ever occurred to you that long term you are in a no wins argument, for whether or not we are discussing the Access Card, transit projects or ERG’s involvement in either or both, companies such as ERG could be being used as stooges, there to carry the initial risks and costs of establishing the infrastructure while sitting in the wings, like vultures, is the financial sector, patiently waiting for the cream to surface.


"That does explain how little you know of what drives the mechanics of this industry. I suggest you get your head down and gain some understanding otherwise it is pointless continuing with this debate."


Now that is a scary thought is it not, for it would mean there has been a misguided risk to reward ratio for the majority of ERG’s shareholders.


Forget about the reasons why Saville sold a large proportion of his holdings, who took them up not long after Westpac made inroads into the company.

"Less than 10% of his holding Glo hardly a large proportion.
Westpac BT purchased the shares on behalf of its shareholders. I was hoping it was Westpac Bank with intentions of striking an alliance with ERG. Or questioned whether it was hedging its bets. Whatever it doesn't matter.You are that far out of the loop it is not worth pursuing."



cheers,
walt.