newsat news govt nbn shame

I'm hoping for some great anns before the closure of the share placement.

My wish list is:

Finally some new directors

More (even larger, understatement of year) contracts

A better explanation of the satellite venture and why it is a great deal for share holders.

Re NBN

Temasek Holdings is an investment company owned by the government of Singapore.

About half of its managed assets are external to Singapore and Temasek-linked companies (TLCs) also hold an extensive global portfolio, such as SingTel's ownership of Australian telco Optus..

Now will the NBN really do what the BUMB ABG did? Give our satellite on/off switch to a foreign country???

If the past is any guide yes. Time for NWT share holders to make a stand!!!


Oh yes, lets give our contracts to companies that go broke or better still:

Investigation into Australian Broadband Guarantee Compliance Breach

The Minister for Broadband, Communications and the Digital Economy, Senator Stephen Conroy, today announced that his Department has moved swiftly to address alleged fraud involving two registered providers in the Australian Broadband Guarantee (ABG) program.

On 9 September 2009 the Department referred the matter to the Australian Federal Police (AFP) alleging breaches of the ABG rules by two ABG providers.

"The allegations involve significant compliance breaches in the program, including where mapping data was allegedly manipulated to change the eligibility of some customers who received subsidised services under the Australian Broadband Guarantee," Senator Conroy said.

"The Department is conducting full audits of both providers."

The ABG has assisted approximately 70,000 people to receive a metro-comparable broadband service. The Australian Government has provided funding of $250.8 million until 2012 and has committed a further $23.8 million in funds to meet strong demand in this financial year.

"This matter has not affected the successful operation of the Australian Broadband Guarantee, which continues to play a very important role in complementing the development of the National Broadband Network and delivering on the Government?s broadband commitments to regional and rural Australia," Senator Conroy said.

"The Department will continue to ensure that those funds are properly targeted to eligible homes and workplaces and that registered providers operate according to the rules of the program."

It would be inappropriate to comment further due to the ongoing matter.


http://www.minister.dbcde.gov.au/media

(remove)

/media_releases/2009/114


mac/rob we don't agree on much but I hope we can agree this is a scandal. I guess from my point of view it points our that Newsat have not been given a fair go, say what you like about them but they have never failed an audit by any govt dept..


PS

IMHO

Anyone buying at 5 now can sell at 6 and make 20% that is my prediction as the absolute minimum before June, (more like 1-3c) if it does not happen I will retire from this forum as it means I have no idea and leave you to macattack and rob for your daily dose of half empty.

I'm sure neither have the balls to make the reverse bet. i.e if you do make 20% from 5 - 6 they will retire.. :)