Thursday, September 08, 2005 - 11:24 am, by: David Vaughan(Davidv)
Is that just rhetorical? If it is a real question, the answer is that there is no information which suggests insider trading in relation to the previous two tranches and the third tranche has not been sold yet so no insider trading activity has (yet) occurred there.
More serious is evidence of the majority shareholder putting pressure on management to act to inflate the price, especially where that shareholder intends to sell.
Nearly as serious is the possibility that management may act to deflate the shares in the period which sets the base for their performance measurement for future personal bonuses.
Thursday, September 08, 2005 - 11:40 am, by: Steve Nolan(Hiddenvision)
Hi David. No not rhetorical, I am just curious ! It is just when you hear of people getting banged up for buying/selling or manipulating shares whilst using privalidged information not available to every shareholder, the govenment don't seem to be doing any different.
Not that I care,
I don't have shares in Telstra either and very few in the Govenment.
Thursday, September 08, 2005 - 11:58 am, by: Peter Nitschke(Pen)
Theoretically the govt has no control as such over ASIC, and I suspect that if it did, they would not have allowed the investigation.
I have no Telstra shares, and I don't think Telstra should be sold.
As I see it, the economy is rolling along pretty well, so why is the govt so intent on the sale?
Possible reasons. 1) There is a huge budget blackhole that they want to fill before it becomes visible. 2) They want to repay all the big business clients that may have helped them out previously. 3) They believe that Telstra really will drop seriously in value as landlines become more redundant and mobile technology takes over.
I personally can't think of a single example where we the people have benefitted from the sale of publicly owned enterprises, despite all the hype about efficiency etc.
In SA, the water has been privatised. Our costs have gone up. Electricity has been privatised. Our costs have gone up very significantly. There are other examples.
Even de-regulating the Commonwealth bank has contributed to us all paying outrageous bank fees as there is no longer a bank with a reasonable base line on fees that the other banks have to compete with.
This is all pretty simplistic, and just a 3 minute rant, others with more knowledge can probably add a lot more interesting information.
Or should we avoid discussing such issues in case some people get upset?
Previous
