Diberdayakan oleh Blogger.

Popular Posts Today

Ricky has a bash at TV

Written By miftah nugraha on Sabtu, 29 Juni 2013 | 19.55

CHANNEL Ten has scored a coup in its cricket war with rival Nine by signing Tasmanian legend Ricky Ponting as a marquee commentator for this summer's Big Bash.

Nine has traditionally been the home of retired captains as the focus of its renowned coverage, but upstart Ten has usurped the cricket network.

Ponting, the most successful Test and one-day captain of all time, has signed a two-year deal with Ten as the network continues its drive to attract more elite sport.

Nine has a 55-year cricket lineage through former skippers, starting with Richie Benaud leading Australia in 1958. Benaud, Billy Lawry, Ian Chappell and Mark Taylor led their country in 133 Tests over more than four decades.

The death of Tony Greig late last year robbed Nine of a fifth international captain.

Ponting led Australia in 77 Tests for a record 48 victories, and his 165 wins in 230 one-day games as skipper is also unmatched.

"I'm very excited to be joining Network Ten and being part of their commentary team this summer. I can't wait for it all to start in December," said Ponting, who is now in England playing county cricket for Surrey.

With Ponting moving to Melbourne, there was speculation he would join the Melbourne Stars Big Bash team as a replacement captain for Shane Warne. But the proud Tasmanian recently announced he would quit all cricket in October.

Ten pushed Nine to the brink in a bid to steal the international cricket rights. Nine had to pay almost double to keep Test, one-day and Twenty20 internationals, outlaying $450 million over five years. Ten claimed the Big Bash League at $20 million a year, outbidding Fox Sports.

19.55 | 0 komentar | Read More

Tour glory beckons for Tassie

POWER: Launceston's Matt Goss, 26, adds grunt to the Green EDGE team. Picture: AP

IT is one of the world's toughest and most prestigious sporting events, and Richie Porte and Matt Goss have proudly flown the Tasmanian flag in the Tour de France for the past two years.

This year they will again represent the Apple Isle in the glamour cycling event, which starts tonight.

However, according to the man who fronts SBS's coverage of the race, Michael Tomalaris, both face differing pressures in the gruelling three-week event.

Porte will be a key lieutenant for Team Sky teammate Chris Froome, who is raging favourite for the race having swept all before him in 2013.

Sprint star Goss will again be the man entrusted with team leadership at Orica GreenEDGE as he strives to become the first rider to win a stage for the Australian outfit.

Unlike last year, though, GreenEDGE has not put all of its eggs in one basket with Goss, who reached the podium on five occasions in 2012, including two second placings, but was unable to break through for a historic victory.

Simon Gerrans, who has dedicated his training to winning stage three of the race, six-time track world champion and debutant Cameron Meyer and Swiss rider Michael Albasini are all expected to be given a longer leash.

Yet Goss will still carry the major hopes of his outfit and Tomalaris believes he may need a change of tactics if he is to reign supreme.

"Matt Goss, he is under a lot of pressure at Orica GreenEDGE, the responsibilities weigh heavily on his shoulders," Tomalaris told the Mercury.

"He definitely hasn't won as many races as he would have liked this year.

"He has finished second, third and fourth on many occasions, more times than he cares to remember.

"The fact of the matter is, he doesn't have that top end speed like Mark Cavendish or Andre Greipel or Peter Sagan.

"There is nothing there that tells me anything will change at the Tour, which means he may have to endure more second and third placings if he chooses to play that role.

"Rather than trying to win a stage in the bunch sprints, maybe Gossy would be better advised to try and win stages in the medium mountains where he is certainly capable.

"When it comes down to the pure, flat stages when you are one-on-one against Mark Cavendish, Andre Greipel and Sagan, the form guide suggests Gossy just doesn't have the top end speed."

Tomalaris is more bullish about the prospects of Porte, who enters the race in career-best form.

Already this year the 28-year-old has become the first Australian to win the prestigious Paris-Nice, has clinched three second overall finishes at the Criterium International, Tour of Basque Country and Criterium du Dauphine and an eighth-place finish at the Tour de Romandie.

And although Porte's sole focus is on ensuring Froome ends up in the yellow jersey on the final day, Tomalaris is in no doubt he has all the attributes to be a grand tour champion sooner rather than later.

"Richie Porte is in a really good place right now and when he first re-signed with Sky, everyone was sort of scratching their heads and asking why is he doing that, he is capable of leading his own team and possibly leading a team that could win the Tour de France.

"He has played the right card by re-signing with arguably the best cycling team in the world right now and given Bradley Wiggins is not coming back to the tour to defend the title he won last year, it puts Richie in the deputy role to Chris Froome who is the unbackable favourite.

"With Richie playing the deputy, all it could take is for Chris to fall over or get sick, and I'm not hoping that happens but it is a three-week event and given the conditions and terrain these guys have to go through over 21 stages, it is not out of the question that Chris Froome may not finish the race due to unforseen circumstances.

"That means Richie Porte will be in a position to step up and assume the role as team leader.

"If it doesn't happen this year for Richie, he will learn a lot from his experiences at Team Sky in the past and his experience from Team Sky this year as a No.2 to the Tour favourite.

"There is no doubt about it, he is only 28 ... he has the capabilities of winning a grand tour, in fact he has the capabilities of winning the Tour de France in the not too distant future."


19.55 | 0 komentar | Read More

CEO pulls plug on Hydro job

Hydro Tasmania CEO Roy Adair.

STATE energy giant Hydro Tasmania is looking for a new CEO after the resignation of Roy Adair.

Hydro Tasmania chairman David Crean said yesterday that Mr Adair -- the company's chief executive officer since June 2010 -- had agreed the time was right for change "to take the business through its next phase and to provide long-term stability to the organisation".

Dr Crean said the departure of Mr Adair followed the completed transfer of Tamar Valley Power Station to Hydro Tasmania as part of the State Government's electricity industry reform process.

It coincided with the end of another successful financial year for the business and the completion of a number of significant projects, Dr Crean said.

"The board and Roy have agreed that now is the time for change and to make way for new leadership of the business as it looks ahead to the post-reform period," he said.

Mr Adair said it had been an honour and privilege to work with such a talented, passionate and committed team of people at Hydro Tasmania, Momentum and Entura.

"I wish the business and its entire staff a very successful and prosperous future," he said in a statement released by the company yesterday morning.

Read the full statement from Hydro Tasmania

Hydro Tasmania dismissed claims Mr Adair was set to leave when contacted by the Mercury earlier this week.

Dr Crean said: "As CEO, Roy has presided over some significant events that have changed the face of Hydro Tasmania, including a profit of over $100 million in both of the last two years. The business is on track to double that annual profit this financial year.

"The changing market conditions in the Australian energy industry will test the industry's mettle over the coming years and Hydro Tasmania is now looking for a new long-term leader who can take the business into the future in a united and cohesive manner."

The announcement came as the Tasmanian Opposition said that moves by Prime Minister Kevin Rudd to float a carbon price could cost the State Government as much as $50 million through reduced Hydro dividends.

19.55 | 0 komentar | Read More

Hydro CEO stepping down

Written By miftah nugraha on Jumat, 28 Juni 2013 | 19.55

Hydro Tasmania CEO Roy Adair.

HYDRO Tasmania chief executive officer Roy Adair is set to leave his post at the state-owned energy giant.

The Mercury understands staff members were told this morning that Mr Adair had resigned.

Mr Adair was appointed as CEO -- and to the board -- of Hydro Tasmania in June 2010.

He previously worked as chief executive of Senoko Power, Singapore's largest electricity generator and retailer, for six years.

Read the full statement from Hydro Tasmania

19.55 | 0 komentar | Read More

Log truck loses load

POLICE are responding to reports of a log truck losing its load on the Bass Highway near Carrick in northern Tasmania.

It is believed the logs have blocked one lane, with the accident happening about noon today.

Motorists in the area are advised to proceed with caution.

19.55 | 0 komentar | Read More

Supermarket celebrations

SUPERMARKET giant Coles will celebrate its 80th year in business in Tasmania next week.

The first Coles store opened in Tasmania on July 1, 1933, on the corner of Brisbane and Charles St in Launceston.

The state's links to the supermarket giant, however, go back even further.

The North-West town of Wilmot is often seen as the birthplace of the Coles empire, with G.J. Coles' father George operating a family business there between 1910 and 1921.

Coles now has 16 stores across the state and employs 1640 people in customer service, store management, logistics and at the company's head office.

Anniversary celebrations are planned statewide on Monday.

There will be a cake cutting at each Tasmanian store and customers will have the chance to win one of 110 $80 gift cards.

Bonus Flybuy points and discount vouchers will also be up for grabs.

Coles Tasmania general manager Mark O'Connor said the store had maintained ongoing relationships with key Tasmanian suppliers such as Cripps Bakery and Arvo Park Orchards.

"We're proud to be able to support the Tasmanian community and the state's economy and we are pleased to have around 100 direct suppliers in Tasmania and more than 500 locally produced lines on our shelves," Mr O'Connor said.

19.55 | 0 komentar | Read More

Rudd sworn in as PM -- again

Written By miftah nugraha on Kamis, 27 Juni 2013 | 19.55

KEVIN Rudd has been sworn in as prime minister for the second time, as it appeared likely Australia will go to the polls earlier than planned September 14 election.

Governor-General Quentin Bryce, acting on advice from the solicitor-general, swore in Mr Rudd and his deputy Anthony Albanese in a brief ceremony at Government House in Canberra about 9.45am this morning.

Chris Bowen has been sworn in as Treasurer, replacing former deputy prime minister Wayne Swan who resigned from Cabinet last night.

Governor-General Quentin Bryce wished him well in serving the people of Australia.

Mr Rudd replied: "I will do my absolute best."

As Mr Rudd signed the document sealing his prime ministership, he told Mrs Bryce he did it wrong before.

"Really," Mrs Bryce exclaimed.

Asked how he was feeling, Mr Rudd said: "It's a sunny day in Australia."

All three men were accompanied by their families.

The swearing-in followed Mr Rudd's 57-45 caucus vote victory over Julia Gillard, who ousted him in June 2010 and narrowly held on to power with the backing of the Greens and independents after the 2010 election.

Ms Bryce secured an assurance from Mr Rudd that he would announce his appointment to the House of Representatives today.

The Parliament would then be able to take whatever action it chose to do, including a no-confidence motion.

But Opposition Leader Tony Abbott talked down the prospects of moving a no-confidence motion in the Labor Government.

"Plainly one-third of the Cabinet has no confidence in Mr Rudd, they've resigned, it's the biggest exodus from the Cabinet in memory," Mr Abbott told the Nine Network.

"But we're not into parliamentary games ... let's let the people decide."

Should a motion go forward, Mr Rudd appears likely to get support from crossbenchers Andrew Wilkie, Peter Slipper, Craig Thomson, Bob Katter and Adam Bandt.

Mr Rudd is expected to announce an August 24 election.

He has to fill five other vacancies in the Cabinet.

Labor's new Senate leader Penny Wong revealed she voted for Mr Rudd, having told Ms Gillard just hours before the ballot.

"I had to decide who I thought would offer the best contest at the next election against Tony Abbott," Senator Wong told ABC Radio.

She described Ms Gillard as a friend, which made the decision even more difficult.

Resources Minister Gary Gray, a supporter of Ms Gillard, says Mr Rudd had asked him to stay on and he had agreed to do so.

Environment Minister Tony Burke is also staying on, despite offering his resignation to Mr Rudd.

Mr Abbott said Mr Rudd had "had his revenge".

"But is this all about Kevin Rudd's ego or is it about the Australian people?" Mr Abbott said.

Mr Albanese said there would be a "proper discussion" about changing the election date, but any change would not be too far from the existing September 14 poll.

"The party will unite behind Kevin Rudd's leadership," Mr Albanese said.

Read more in today's Mercury.

19.55 | 0 komentar | Read More

Giddings defends Gillard view

THE only remaining woman in charge of an Australian government says gender played a part in Julia Gillard's downfall.

Tasmanian Premier Lara Giddings has backed Ms Gillard's view that being Australia's first woman prime minister caused some, but not all, of her problems in office.

"She was spot-on with that comment," Ms Giddings told ABC radio today.

"You cannot put all of the issues that she faced as prime minister at the feet of the issue of gender. That would be unfair and not right.

" ... (But) you could not say that gender has not been an issue at all in her leadership either."

Ms Giddings said the outgoing prime minister had blazed a trail for women in the same way the first woman elected to the House of Representatives, Tasmanian Enid Lyons, had done in the 1940s.

"I'm sure that if you went and spoke to the likes of Enid Lyons ... she would have said exactly the same at that time," Ms Giddings said.

"But you need these pioneers and Julia Gillard has definitely been that."

Ms Giddings' government is languishing in the polls and the country could be left without a female leader at federal or state level when Tasmanians go to the polls next March.

The Premier is hopeful returning Prime Minister Kevin Rudd will continue the Gonski school reforms, the National Broadband Network rollout in the state and the funding of the forestry peace agreement.

Tasmania was tipped to sign on to the Gonski package at the ALP state conference this weekend, delivering an extra $400 million to the state's education system.

Ms Gillard was to address the conference, in Burnie, on Sunday.

Ms Giddings said she was ready to sign up as soon as she'd received a formal reply from the former prime minister reassuring her that $105 million in extra GST money would not be affected by Gonski.

"We stand ready and wanting to sign," Ms Giddings said.

" ... My hope is that we'll be able to now work with the new prime minister Kevin Rudd and be able to sign reasonably quickly."

19.55 | 0 komentar | Read More

Man cleared of shooting teen

The Supreme Court in Hobart.

A CLARENDON Vale householder accused of deliberately shooting a teenager has been found not guilty by a Supreme Court jury in Hobart.

Ronnie Edward Jackson, 40, pleaded not guilty to causing grievous bodily harm over the incident which occurred early on October 22 last year.

A jury heard that on the day before the shooting some of Mr Jackson's neighbours were arrested over a stolen car in their backyard.

A crowd of about 30 people gathered in the street outside Mr Jackson's house and blamed him for dobbing them in.

Several yelled at Mr Jackson and rocks were thrown on his roof. The 15-year-old shooting victim was among the group.

Crown Prosecutor Patrick Dixon said about 10.30pm a car was pushed on to the nature strip in front of Mr Jackson's house and set alight.

About 1.45am his front window was smashed and a fire extinguisher was discharged into his house.

The court was told Mr Jackson took a single-barrelled 12-gauge shotgun, loaded it and went outside.

The weapon discharged and a 15-year-old boy nearby was hit, causing serious abdominal wounds, including a lacerated liver and colon.

Mr Jackson told police he had stumbled when the boy threw a fire extinguisher at him and the gun had gone off accidentally.

"I don't think he would have been shot if he hadn't thrown the fire extinguisher at my leg," he told police.

The victim told the court he was standing alone near the burned-out car when a figure loomed out the darkness carrying a long object.

"I heard a tapping noise. I put my head up and looked. The person raised the gun and fired," he said.

"I remember being shot, then I can only remember patches."

Under cross examination from defence lawyer Kim Baumeler, the boy denied smashing Mr Jackson's window with a rock, discharging a fire extinguisher inside the house or throwing a fire extinguisher at the Mr Jackson just before the shooting.

He said broken glass on his clothing could have come from when he collapsed after being shot.

The jury deliberated for 45 minutes before returning a not-guilty verdict.


19.55 | 0 komentar | Read More

New call to sign up to Gonski

Written By miftah nugraha on Rabu, 26 Juni 2013 | 19.55

TASMANIA'S education union is confident Premier Lara Giddings will sign on to the Federal Government's Gonski education reforms by the end of this week.

As representatives of the Australian Education Union Tasmanian branch prepare to gather in Hobart tomorrow for a two-day conference, state president Terry Polglase said it was essential for Tasmania to sign up to the reforms or be left behind other states.

Mr Polglase said tomorrow's conference offered the Premier the opportunity to make an announcement about signing up for Gonski funding.

But he expected the announcement to be made on the weekend when Prime Minister Julia Gillard attends the State Labor Party conference in Burnie.

"We just can't say no to $260 million from the Federal Government over the next six years," Mr Polglase said.

"We will be able to provide a fair go for Tasmanian students.

"I can't see anyway in that our government will not support it.

"We have to stop the bleeding in public schools."

Ms Giddings has this week given her strongest indication yet that her Government was close to signing on to the reforms after being satisfied Tasmania would not lose about $100 million in GST payments.

Mr Polglase said the Tasmanian public school system had been inadequately funded for more than 10 years.

The funding attached to the Gonski reforms was essential to ensure the best standard of care for the 70 per cent of Tasmanian students in the public school system, he said.

"We are being asked to educate our students at the same standard as other states," Mr Polglase said.

"But we can't compete with the other states that have (already) signed on."

19.55 | 0 komentar | Read More

Cage fighter behind bars

AN experienced cage fighter has been jailed over a vicious and unprovoked attack on a stranger in a Hobart nightclub.

Joseph Michael Tullo, 21, of Cradoc, had earlier been convicted by a jury of grievous bodily harm over the assault at the Observatory Bar on December 21, 2012.

The Supreme Court in Hobart was told Tullo's victim had been sitting in the bar talking to a woman when the attack happened. The next thing he remembered was being flat on his back bleeding.

The victim suffered a broken jaw, a fractured throat, lacerations to the head and chipped teeth in the attack, which was captured on CCTV inside the waterfront venue.

Justice Robert Pearce said Tullo, a strongly built and experienced fighter, had inflicted forceful blows on a victim who did not defend himself.

The judge sentenced Tullo to three years and six months in jail, with a non-parole period of 21 months.

Tullo was also ordered to pay $2867 in compensation to the bar where the assault occurred.

19.55 | 0 komentar | Read More

Labor leadership ballot tonight

KEVIN Rudd has won the Labor leadership spill, beating Julia Gillard 57 votes to 45.

Deputy prime minister Wayne Swan has quit as has Senate leader Stephen Conroy.

Independent member for Denison Andrew Wilkie has written to Mr Rudd saying he will provide support to Mr Rudd in the Lower House.

The Australian has reported that Penny Wong has been elected as Labor's new leader in the Senate.

Anthony Albanese has been elected as deputy prime minister.

Ms Gillard went on live TV this afternoon and called a ballot for the Labor leadership to resolve the leadership issue, even though she hadn't been formally challenged.

"All of these issues need to be resolved tonight," she said.

"We cannot have the Government or the Labor Party go to the next election with a person leading the Labor Party and a person floating around as the potential alternate leader."

That was why the loser must retire, she said.

Read more at news.com.au and in tomorrow's Mercury.

19.55 | 0 komentar | Read More

GE-free great fit, says Green

Written By miftah nugraha on Selasa, 25 Juni 2013 | 19.55

A REVIEW of Tasmania's GMO-free status will begin next month.

Releasing the terms of reference today, Deputy Premier Bryan Green said the review would give all stakeholders the chance to have a say before the existing moratorium on genetically engineered crops expired in November 2014.

"The moratorium has served Tasmania well and we believe it should be continued," he said in a statement.

"Being GMO-free is a great fit with the Tasmanian brand and is vital to our success in discerning domestic and international markets.

"The current policy aims to position Tasmanian in the global marketplace as a producer of food that is genuinely GMO-free.

He said the review would be completed by the end of this year.

The Department of Primary Industries, Parks, Water and Environment will call for submissions and report against the following terms of reference:

  1. The potential market advantages and disadvantages of allowing or not allowing the use of gene technology in Tasmanian primary industries, including food and non-food sectors;
  2. Domestic and international gene technology policy relevant to primary industries;
  3. Research and development relevant to the use of gene technology in primary industries;
  4. Any other relevant matters raised during the review.

The Tasmanian Greens urged all Tasmanians who supported and relied upon the state's clean, green and GE-free brand to get involved in the review.

"Our GE-free status, current markets and future opportunities rely on it," Greens primary industries spokesman Kim Booth said.

19.55 | 0 komentar | Read More

Kickbacks, conspiracy, rorts

KICKBACKS to public servants, a conspiracy to pervert the course of justice and a 10-year travel expenses rort have been revealed in a report by the Tasmanian Integrity Commission.

Commission CEO Diane Merryfull released an Investigations Report as part of a bid to be more transparent about the work of the anti-corruption body.

Releasing the report today, Ms Merryfull said she was not concerned that none of the investigations had resulted in criminal charges.

"We're not disappointed. It's not our job to make decisions like that. The Act provides that we gather the information and refer it to those people who make those decisions," she said.

"They make their decisions based on their operating responsibilities. We don't feel disappointed or otherwise about their decisions."

The first of the three investigations revealed $2 million worth of stock for the stores and canteen at Risdon Prison had been sourced without compliance with procurement policies between 2008 and 2011.

Stocktakes were not carried out, over-ordering was written off and inmates were allowed to use prison computers, the internet and make unauthorised telephone calls, the report found.

Staff bought unauthorised items for prisoners - including contraband items - and stock was removed for personal use.

And one staff member received kickbacks from providers including a Playstation, tickets to football matches, gift cards and a golf club.

The Integrity Commission noted that while the misconduct was easily identifiable by supervisors, no meaningful attempt was made to deal with the issues.

The second case concerned a Department of Justice employee - who the Mercury understands to be a prison officer - accused of having "inappropriate contact" with a client.

The officer denied the accusation and produced a statutory declaration from their partner providing an alibi.

The Integrity Commission discovered EFTPOS transactions showed the officer had lied about their whereabouts.

When confronted, the officer admitted asking for the false statutory declaration and the partner admitted lying.

The officer was sacked. Police decided to take no action over the false declaration.

The third case revealed in the report concerned a public servant who had made 50 suspect claims for travel expenses totalling $10,000 over 11 years.

The report noted that the manager was unable to explain why some claims were contradicted by documentary evidence and resigned upon becoming aware of the investigation so no disciplinary action could be taken.

That matter has been referred to Tasmania Police.


19.55 | 0 komentar | Read More

Driving death case adjourned

A CASE against a Queensland man charged with negligently causing the death of three people last year when the trailer of his truck detached and crashed into a bus has been adjourned today.

Harvey John Charnock, 55, of Waverley, Queensland, is yet to plead to a charge of causing death by negligent driving of three Cancer Council bus passengers on September 12, 2012.

Defence counsel John Fraser told Magistrate Simon Brown that Mr Charnock's flight from Brisbane had been delayed and he missed a connecting flight from Sydney.

Police prosecutor John Parker was content to allow the case to be adjourned until tomorrow at 10am.

19.55 | 0 komentar | Read More

Lutana family loses home

Written By miftah nugraha on Senin, 24 Juni 2013 | 19.55

This Lennox Ave home was extensively damaged in an overnight fire. Picture: NIKKI DAVIS-JONES

A LUTANA family has been sifting through the ashes of their home today after it was gutted by fire.

Tasmania Fire Service crews were called to the Lennox Ave property shortly before 10pm yesterday.

The home was well alight when crews arrived and it was too late to save it.

It took firefighters an hour and a half to extinguish the flames.

The cause of the blaze has been deemed accidental.

The Mercury understands a man and his child were asleep inside the home when the man woke to find the lounge room engulfed in flames.

All occupants escaped uninjured but the family was today searching for its "moggy"-- a multi-coloured cat.

It appears likely the blaze was caused by an open fire.

The family has lost everything, according to witnesses, with the damage bill estimated at about $400,000.

The fire is the latest in a string of blazes in the state's south in recent weeks.

The TFS is reminding people to ensure working smoke alarms are fitted, open fires are guarded and clothes and upholstery are kept well away from heaters.

Click here for more home fire safety tips.

19.55 | 0 komentar | Read More

Not-guilty plea to GBH

A CLARENDON Vale man shot a teenager in the stomach shortly after someone smashed in his front window with a fire extinguisher, the Supreme Court has heard.

Ronnie Edward Jackson, 40, has pleaded not guilty to causing grievous bodily harm on October 22, last year.

A Hobart jury today heard Mr Jackson's neighbours were arrested the day before and people in the area blamed him for dobbing them in.

A crowd gathered in the street yelled at Mr Jackson and rocks were thrown on his roof.

Crown Prosecutor Patrick Dixon said about 10.30pm a car was pushed onto the nature strip in front of his house and set alight.

About 1.45am his front window was smashed and a fire extinguisher was discharged into his house.

The court was told Mr Jackson took a single-barrelled 12-gauge shotgun, loaded it and went outside.

The weapon discharged and a 15-year-old boy nearby was hit, causing serious abdominal wounds including a lacerated liver and colon.

Mr Jackson told police he had stumbled when the boy threw a fire extinguisher at him and the gun had gone off accidentally.

"I don't think he would have been shot if he hadn't thrown the fire extinguisher at my leg," he told police.

The trial, before Justice Stephen Estcourt, is continuing.

19.55 | 0 komentar | Read More

Report queried Gunns' health

THE former chairman of timber company Gunns, John Gay, has appeared in a Launceston court charged over insider trading.

He has pleaded not guilty.

The author of a report for the Australian Securities and Investment Commission says a management report from October 2009 painted a different picture of the company to the information made public.

Wayne Lonegan, a corporate valuer, has told the Launceston Magistrates Court a comparison of figures from the 2008-09 and 2009-10 financial years would have affected the share price.

"The company had been historically profitable," Mr Lonegan said.

"What they're now looking at ... is a very significant deterioration.

"That's a very serious situation."

Mr Lonegan said stockbrokers were forecasting a modest downturn in profits, while Gunns management was expecting a decline of more than 100 per cent.

Mr Gay has pleaded not guilty to two charges of insider trading in which it is alleged he sold 3.4 million shares, worth around $3 million, with knowledge about Gunns' performance that was not generally available.

Gunns reported a 98 per cent deterioration in half yearly earnings in February 2010 and its share price plummeted.

The preliminary proceedings hearing continues on Monday afternoon.

Mr Gay's trial is scheduled for the Tasmanian Supreme Court in August.

19.55 | 0 komentar | Read More
techieblogger.com Techie Blogger Techie Blogger