All smoke and mirrors IMO. Nothing they say is new, it was all known as thats how the foreign investment laws work that were created by our government and ATO. So not sure what they are complaining about.
The REAL issue at stake is whether a company should be allowed to leverage up 5-20X its capital, buy out another company, sack half the workforce, tell all the plebs how great its doing, then sell it for double the price and keep the entire profits. And lets not forget what would happen if a lot of these deals went bad because of the leverage, i.e. what would have happened to qantas? If the takeover had succeeded and qantas was turned around sold back to the market and made huge profits, again same thing would have happened as with Myer TPG now. But what if they went bankrupt? (which looks like would have been the case in the GFC). The government would have bailed them out. So whos the real crook when thats how government allows these entities to function.
The way foreign investment has tax advantages is fine IMO, but not the fact that they allow these private equity firms to leverage to the hilt and then walk away if it all goes wrong.
