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T3 was a fraud of several billions of dollars!
. TELSTRA .
Sol TRUJILLO and "the Three Amigos" (his past use-by-date American cronies) need to be congratulated for performing the amazing stunt of reducing the share-holder value (paper nett worth of the company) by $9 billion in their first 10 weeks of their reign - and not getting sacked! If you don't think that this is an amazing feat then you must believe (like me) that these aging flunkies were employed to sabotage the share-price of Telstra by continually having heavily-promoted spats with the Australian Federal Government. These spats together with adverse rulings from the ACCC have caused a sell-offs by the market, so reducing the share-price.
To put these Telstra sell-offs into perspective here is my interpretation of events.
T1 - used to create the "warm and fuzzy" feeling that there was a level playing field between the wealthy and the rest of us plebs with Johnny "Rotten" HOWARD promoting the concept that we were to become "a Nation of Shareholders".
T2 - was a sting to discourage us plebs from buying into Telstra by selling these shares at $7.40 each and then deflating the share-price. After all the impetus for the sale of this monopoly had been already started with T1, and this being irreversible, so a "correction" of the share-price would not cause problems!
T3 - the "final" sell-off of Telstra shares. People quickly understand that something is amiss when they recall that they received continual negative publicity about this sale and about half of this sale was taken up (by the wealthy) on the day before the release date (Monday the 30th of October in 2006). If these shares were such bad value then why did the wealthy snap them up? (they knew something)
Here's my explanation for the following section of a newspaper article!
SUN-HERALD 29-10-2006 - Australian Financial Investor section (page 2)
There can be only a one reason why T3 was sold-off at near the bottom of the market. It would be absurd to believe that the politicians responsible for the sale were not aware that Telstra shares were near rock-bottom or that these pollies did not understand that the Telstra share-price would recover quickly. Another (much more plausible) reason is that the politicians connected with the sale were aware that selling off these shares to their mates, at bargain-basement prices, would generate the maximum amount of "loot" for them and we all know how the Howard Federal Government looks after their mates.
Its hard to estimate the size of this fraud because of the share-price manipulation which was going on at the time but a fairly safe guess would be several billions of Australian dollars! What is amazing about this sell-off of Telstra is that it is very controversial and the magnitude of the fraud (share-price manipulation and insider trading) is the most high-profile one I have ever heard of.
Australian Financial Review page 1, 16-2-2007
(when the "CBD set" wish to publish something
but they don't want us plebs)
(to see it the article is published in the AFR - a newspaper not commonly
read)
. So there it is in black and white! .
. 50% profit in three months .
A criminal government, totally supported by the media and their other "CBD set" cronies, on the rampage to ruin our country under the banner of "fiscal responsibility".
If you wish to write to a pollie about this whole Telstra sell-off, particularly mentioning the T3 multi-billion dollar (alledged) fraud, the following hyperlink links to a "boiler plate" document -. Telstra_letter .
Australian Financial Review, April 21-22 of 2007 - page 41
T4 - the heavily-promoted T3 share issue is not the "final" sale of Telstra shares from the Australian Federal Government (read monopoly creator for the wealthy). T3 is actually a "three-card-trick" masking the transfer of a tranche of 16.5% of Telstra shares into this "Future Fund" - with this fund being supposedly established to guard against future liability of Government Superannuation. Everyone knows that this Howard Federal Government is just a front for big-business and this notion that "the government is looking after us" (plebs) is simply ridiculous!
To add insult to injury "The Chaser's War on Everything" did a cute little ditty about Sol during their repeat on Friday the 28th of September in 2007. I wouldn't use their phrases about the CEO of Telstra but I would distort the Soul telecommunications firm and say, "We've been SOLed!"
Channel 9 also passed comment on Sol and he was mentioned on "20 to 1", hosted by Bert NEWTON early in June 2007. Sol was the 5th least trusted person!
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John
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