Australian Business News and Times

Business News ,Reports and Times of Australia

Perth WA

Are Australian Wineries in trouble ?

by 1 Comment

Sales figures show that wine sales slipped 3.3% in 2010/11 – the first fall in 15 years and
largest drop in annual wine sales for 22 years. Australian consumers have been  spending less on the spirits ad this has affected the Australian wine market.

While the sales of Australian wines  have gone down, French wines have been doing pretty well. French wine only accounts for 1.7% of all wine sales, but the share has doubled in the past five years. Apart from the low domestic demand in Australia  the high Australian dollar and domestic over-supply of grapes have also  affected the wine markets.

Some of the more popular wine growing region s in australia  is the Hunter Valley ( NSW,VIC), Swan valley , Margaret river( WA), Port Phillip and Gippsland ( Greater Victoria)

wines australia sales production

The wine grape production for the year 2009-10 is estimated by the ABS to be 1.53 million tones, around 9 percent lower than  the 2008-2009 harvest. The wine industry has been  affected by scarce water supplies in some regions and in some parts of south eastern Australia  also by the heat wave. In Victoria many  winegrowers was affected by the floods and outbreaks of  disease due to damp and humid conditions. The Murray darling  Swan hill zone has  been affected by disease  affecting wine production  in early parts of the year.

Red wine grapes have been the farmers popular choice in cultivation of production in 2009-10 with  it accounting for the total of 55%

The Popular grape variety cultivated by farmers in 2009-10

1. Shiraz

2. Chardonnay

3. Cabernet-Sauvignon

vineyards wine sales figures 2011 2012

The forecast for   2011 –12 is for the wine  grape production to increase by 10 %  taking into account vines reaching full production, but so far the weather is playing a dampener on  good wine grape production and these results could get affected by any major disruptions in weather.

For more detailed information  on  wine grape  production statistics you can visit  www.abs.gov.au and www.abares.gov.au

Wrap up – Diggers & Dealers 2011 Conference

by 1 Comment

Some of the highlights of the just wrapped up Diggers and Dealers Mining Conference Held  in the gold-prospecting hub of Kalgoorlie, Western australia from 01 Aug- 03 August 2011.

diggers and dealers australia

Diggers & Dealers Conference 2011- Highlights

 

Golden diggers and dealers Shovel

For a forum that started with a dozen blokes in a pub in the West Australian mining town of Kalgoorlie-Boulder, Diggers and Dealers has morphed into the largest mining conference of its type in Australia and the third largest in the world.

The dealing and digging at Kalgoorlie WA

Iron ore company Gindalbie Metals’ has earned it the Dealer of the Year award at the Diggers and Dealers conference in Kalgoorlie due to managing  a clever relationship with Chinese steel maker Ansteel

The digger of the year was WA-based miner Independence group which has made major developments on their mines near Kambalda in the Goldfields.

Small miners complained  that the big miners BHP Billiton, Rio Tinto, and Xstrata – will be able to manipulate the MRRT’s rules to claim depreciation of their existing multi-billion-dollar mining assets against their expected MRRT liability, and almost completely negate the effect of the tax on their profits.

 

diggers and dealers WA conference 2011

Gold miner Ramelius Resources is cashed up and ready for acquisitions. Ramelius’ shares have jumped more than 300 per cent in 2010/11, from 39 cents.

The dealermaker award went to Ivanhoe Capital Corporation for its success in developing gold and coal projects in Mongolia and Queensland.

KEITH JONES, MANAGING PARTNER DELOITTE (WESTERN AUSTRALIA), on china’s growth

"The going out policy initiated by the Chinese government at the turn of the century resulted in a surge of direct Chinese investment, up from $500 million in 2000 to $59 billion in 2010. While Australia remains one of the preferred destinations for Chinese investments, other regions such as Africa and Latin America have seen accelerated inflows of Chinese capital over the past three years."

 

Joseph Riggio, of Casimir Capital, says cashed up investors in New York, Boston and Chicago want to diversify out of the floundering US dollar and are increasingly looking to ASX listed miners to do that. He said "There’s a perception that Australian companies represent a better value than their Canadian counterparts because of their focus on cash flow,"

 

Australia’s Billion dollar club gets richer

by 3 Comments

Australia’s richest billionaire’s have just been announced  and they are quite a few familiar faces on the list, in fact  most on the rich list have not changed  but they just got richer.  The members of the BRW 200 rich list total wealth increased 23% to $167.25 billion, a rise of $31.41 billion.

“Gina Rinehart” From WA has become the first woman in 28 years to top the “BRW rich list 2011”, with the iron ore magnate’s fortune doubling over the past year to $10.3 billion and Glencore chief executive “Ivan Glasenberg” has taken second place.

Worlds Top Billionaires 2011

Mexican Telco tycoon Carlos Slim tops the list of the world top billionaires , with estimated worth of $US53.3 billion ($58.3 billion), with Microsoft founder Bill Gates inching behind him.

Australia’s Top Billionaires 2011

1. Gina Rinehart ( Hancock prospecting –mining & resources)

Mrs Rinehart has inherited some of her wealth from her legendary father, Lang Hancock, but she has succeeded in building “Hancock Prospecting” into a major iron ore producer in Western Australia and also plans in coal rojects in Queensland.

2. Ivan Glasenberg (Glencore – Commodities trader)

The South African-born, Swiss-based chief executive of newly-listed commodities trader Glencore made a stunning debut with $8.8 billion and a listing of his company

3.  Andrew ( twiggy) Forrest ( Fortescue Metals Group- Iron Ore Mining)

Mr. Andrew Forrest  from Perth WA has also become richer, thanks to soaring iron ore prices fuelled by Chinese demand.

4. Anthony Pratt ( Manufacturing)

Anthony Pratt is Chairman and CEO of Pratt Industries and Group Deputy Chairman of Visy Industries, the world’s largest privately-owned paper and packaging company. He is the son of the late Richard Pratt, and tone of the rising wealthy persons list  in Australia according to the BRW Rich 200 list 2010.

5. Clive Palmer ( Mining – Resources)

Mr Palmer made his fortune by selling iron ore interests in Western Australia to Chinese.  His company has secured access to 160 billion tonnes of iron ore reserves in the Pilbara Ranges, in remote Western Australia.

6. Frank Lowy ( Property )

Shopping centre mogul “Frank Lowy” had made his fortune becoming the co-founder of the Westfield shopping centre’s which are spread over Australia, New Zealand and other countries.

James packer also increased his  wealth to finish eight and Mining magnate Nathan Tinkler was the youngest member of the list at 35, with a $1.01 billion fortune

Interestingly  the Forbes Billionaires list for Australia  differs a little bit from the BRW rich list  with it listing the No 1 as Gina Rinehart, and then Andrew Forrest , Frank Lowy And Family,  James Packer and Harry Triguboff in the 2nd , third and fourth position respectively. Check out the Forbes list here

Western Australia’s billionaires

In Western Australia the rich mining state , Billionaires Ms Rinehart and Mr Twiggy Forrest were trailed by building and construction magnate Len Buckeridge who’s wealth came it at $2.6 billion, mining tycoons Angela Bennet and Michael Wright with $2.1 billion, and property mogul Stan Perron wealth stood at $1.8 billion

Check out  some budding entrepreneurs and last years BRW Magazines Young Rich List 2010 here

Some related links –  The Forbes rich list 2010 , World’s Youngest Billionaires ,

Oswals accuse Anz , Yara of colluding on sale of burrup

by Leave a Comment

The Oswals left Australia after receivers were appointed in December and their Australian assets – including a private jet  , a million dollar mansion and their billion dollar company Burrup fertilizers – were frozen  and became part of a receivership in February.

Burrup fertilizers sale sham

Bids for Burrup fertilizers who has had Receivers appointed are understood to be due by May 30. Mr Oswal said  this was proof the bank wanted to force a sale below market price and indicated that ANZ and YARA ( the part owner of Burrup) had colluded to  get  s discount price for the billion dollar company under receivership.

“Given this ridiculously short period that international and local buyers have been given to consider a multi-billion dollar asset, conduct their due diligence, and submit a bid, it seems clear that the process is designed to eliminate genuine competitive buyers and facilitate the purchase by Yara at below market value,” he said in the statement.

Recievership bids for Burrup fertilizers

Mr OSWAL SAID “I reiterate my previous comments that I believe ANZ, PPB Advisory, and Yara (International, a company with a 35 per cent holding in Burrup) have colluded to force me to sell at a rock bottom price.

The sales process is being conducted exclusively by Flagstaff, a small Melbourne advisory firm,  Flagstaff is chaired by Charles Goode, an ex-chairman of the ANZ Bank. The oswals  said that  it is further evidence that the sales process is a sham designed to facilitate a hasty sale to Yara.

Cop gets million dollar payout for being bashed while on duty

by 3 Comments

Perth constable Matthew Butcher has been awarded a record $3.3 million ex-gratia payment by the West Australian government to cover injuries sustained during a vicious pub brawl two years ago.

Perth Constable Butcher was left partially paralyzed from severe head injuries after he was struck with a flying head butt  when the cops were called to intervene during the fight ( between brawling family members) outside the pub.outside the Old Bailey Tavern in Perth’s northern suburb of Joondalup in February 2008.

The head butt left Constable Butcher unconscious and he  was put into an induced coma. He spent several months in hospital undergoing a slow and painful rehabilitation.  Constable  Butcher continued  to work with the  WA Police in an administrative role  and also lodged a claim with the WA Police Union for compensation of $5 million for various medical expenses.

Some mixed sentiments  & comments on this story From watoday & news.com.au

Would a construction worker receive such a payment if injured in thier line of work? Not on your nelly, they have laws and contracts to prevent such payments. So why should the Police be any different? Setting the Police up as separate from the rest of society is dangerous and open for abuse. –Harry (Brisbane)

His dad was being tazered, an over reaction for sure, but not entirely unpredictable. When a family member is attacked, no matter what, your bound to react in some crazy way.
3.3 million, easy street now. Bozo

From what I see in the video, the Police very poorly handled the situation. The man who was tasered was not threatening anyone’s life, and it appears the other family member jumped on the cop to try to save his own father. It did not appear that he intended to cause the officer serious harm, just wanted to save his own father from further harm. Which is probably why he was properly found not guilty. If the cops had handled the situation better, Mr. Butcher probably wouldn’t have been injured the way he was….not that I think it’s his fault, and I do believe he deserved some compo. It looked to be nothing more than a pushing and shoving match and from what I can see, there was no need to start tasering anyone, because at that point no one’s life was in danger.-meinsydney

This cop is a parasite.

If you don’t want to break up fights then don’t become a bloody police officer!So he has to catch taxis now and is most concerned about not ageing gracefully?  Pass the bucket please.-battler

I totally support your point of view. The compensation for the miitary is a tiny fraction of this award. It is a State political decision rather than on merit. And I agree the compensation for military personnel sucks.In all cases this award is way over what is reasonable, The guy has a full wage and is at least 80% moblle. Compare that to the diggers who have lost their legs and arms to IEDs – let alone the brain injuries. They get almost nothing.

This award is an insult to military personnel, Reserve and Full-time. –Jerry

I remember seeing the video of this, it was a despicable thing to do to this officer, the culprit should be ashamed of himself & I cannot understand why he got off? God luck to this officer & his wife, blessings for you both and a happy healthy child! – Waylander (posted on news.com.au)

Star guest list of telethon 2010

by 1 Comment

Hollywood star and “Telethon guest of honour John Travolta” dashed back to the United States last night after receiving news that pregnant wife Kelly Preston had gone into labour. but there are plenty of other stars that are attending like Actor Hugh Sheridan, from hit TV show Packed to the Rafters, and Better Homes and Gardens hunk Rob Palme , BooBoo Stewart, the 16-year-old American star of Twilight: Eclipse and the yet-to-be released Twilight: Breaking Dawn films.

 

telethon 2010 john-travolta Telethon 2010 hugh-sheridan telthon wa perth rebecca-gibney telthon 2010 booboo-stewart stars

Pop superstar Michael Jackson was given the same honour after appearing at Telethon in 1985.

Some other stars listed to appear

David- Jones Roberts  Luke Mitchell  Lynne McGranger  Lyn Collingwood  Esther Anderson
Rebecca Breeds  Bernard Curry

So who are the

If you would like to fundraise for Telethon and become a Telethon Community Fundraiser, download the Telethon Community Fundraising registration form by clicking here and send to the Telethon office – Fax: (08) 9344 0837 / Email: telethon@7perth.com.au.

How to donate for telethon 2010 ?

Donate by Phone
Call the Telethon office during business hours 9am-5pm (W.A. time) Monday to Friday by calling 08 9344 0754. Once your donation is processed, a receipt will be posted to you.

Donate Online
Donating online to Telethon is quick and easy to do.  Simply click hereto donate online securely by credit card now. Once you have made a donation, a receipt will be issued to you.

Donate by Mail
Mail your cheque or money order to: PO Box 50, Tuart Hill, WA 6939.  Once your donation has been received, a receipt will be posted to you.
Donate by Bequest
Making a bequest to Telethon in your Will enables us to continue to enrich children’s lives with vital equipment and research that will benefit your children and your children’s children. It is a way to give beyond your lifetime.  To help you make an informed decision, click here to download a brochure about The Channel 7 Telethon Trust.
Making a bequest in your Will allows you to give to Telethon in a way that might not otherwise have been financially possible during your lifetime.  Telethon will gratefully receive all bequests, regardless of their size. To make a bequest to Telethon click here to download the Codicil.