Brumbies 2016

[Ignoto]

You should have a look where ASIC focuses their relatively modest resources.

This really strikes me as something they wouldn't go near. There aren't consumers involved and getting ripped off, and it doesn't concern an AFSL or phoenix activities.

Ahhh the dismissal I had over the board/CEO was just to highlight there were other issues. ASIC would no doubt be able to get involved due to the breaches of director's duties don't you think?

Why do you think the Auditor General would classify the waiver as an anomaly? After all, the minister acted well within their power to not force the fee on the Brumbies. The anomaly is, did the Brumbies incorporate this in their sale price? If they did, that's an extra $7million on the sale price of $11m. So, did the building and land only get valued at $4million?

When you take that PLUS the fact the Government gave the Brumbies an extra $5-6million it raises questions on why the Government did that when the Brumbies didn't include the waiver fee reduction in their sale price.

While it's getting into conspiracy territory
http://www.brisbanetimes.com.au/act...s-his-role-in-manuka-bid-20160428-goh0bb.html

Former Labor deputy chief minister David Lamont has dismissed concerns about his involvement in plans to redevelop Manuka Oval

He worked with the Brumbies on the controversial sale of the club's Griffith headquarters before the Brumbies move to a new sports hub at the University of Canberra. He has also been engaged by the university as a project adviser for its campus development, putting him on two sides of a complex commercial deal

 

[Braveheart81]

Ahhh the dismissal I had over the board/CEO was just to highlight there were other issues. ASIC would no doubt be able to get involved due to the breaches of director's duties don't you think?

Well, they may be techincally able to get involved but I really doubt they would.

Potential minor breaches of director duties for a relatively small entity are not something they touch. They don't have the resources to do it.

It's very rare for ASIC to touch an entity of this size unless they've been wound up and even then its doubtful they would.

I mentioned the ACT Auditor General because they would have done the overall review of the ACT Government's actions. It is doubtful they looked at these transactions specifically because they weren't particularly large. Just because a minister has authority to make a decision doesn't mean the Auditor General can't make negative findings about an issue or action. I tend to think that if anyone was going to take issue with it, it would be them.

 

[Ignoto]

Potential minor breaches of director duties for a relatively small entity are not something they touch. They don't have the resources to do it.

It's very rare for ASIC to touch an entity of this size unless they've been wound up and even then its doubtful they would.

I think you're reading the power and scope of the functions of ASIC a bit too narrowly if you don't think they'd dismiss this as being too small or not worth their time. By the looks of the, KPMG have done most of the heavy lifting for them and have highlighted the areas in which they should focus on. So I'm not buying the cost element as it appears to be a fairly prominent company that has had the investigation done and should be a relatively 'easy' win for ASIC.

Lets also not forget where the CEO at the time now is, the Adelaide Crows as another CEO. If the AFP lay charges about his conduct, ASIC can easily jump on in a civil matter.

 

[Braveheart81]

I guess time will tell but I think you're overestimating the amount of actual company investigations ASIC undertakes in circumstances where a company hasn't been wound up owing millions and the areas in which they focus their resources.

The Melbourne Storm fiasco was referred to ASIC in 2010 and nothing more was ever heard. That was also referred to Victorian Police at the same time who later announced they'd ceased their investigations and no further resources could be expended on the matter.

The AFP sounds more serious but it is really just because the ACT doesn't have a police force in its own right. Any police matter in the ACT is dealt with by the AFP.

 

[Brumby Runner]

ASIC just got beefed up and need to show some teeth and that are on the job. Where better than in the political backyard of Canberra and a mess that involves many elements, high profile and a walk start.

There just might be some vested interests wanting ASIC to get right into the matter to take the heat of them (banks?).

 

[Chronicle]

Nic White should be on the phone to the Force as Mathewson much be near the end of his allowable tenure I believe. It his best option unless he want to join the queue at the other franchises.

Watched White in Top14 match this weekend. Starred for Montpellier with at least 3 try assist in his 60 mins as well as a very good kicking game with several long touch finders and a couple of deft grubbers reminiscent of his one for Tomane against the Stormers in last years semi win at Newlands.
White was the leading Australian in Super rugby for try assists in his last two seasons in front of lauded playmakers such as Kurtley Beale would be surprised if he needs to be ringing.

 

[mst]

At the back of my mind and clouded by the more recent events I keep going back and wondering what happened to the Brumbies development application and why it seemed like it was abandoned. So they proposed about 130 apartments up to 3 story's high investing $30Mil. Today the apartments, 120 plus up to 3 storeys are selling. So a one (also 2 and 3 bed) bedroom is going for $440000+. Quick bit of maths suggests we are well above the $53mil being conservative by using the one bedrooms price. I don't know the breakdown of the composition of the apartments but the top end price range is up to $1.4+.

The Brumbies walked away with $11Mil. WTF happened?

 

[mst]

Watched White in Top14 match this weekend. Starred for Montpellier with at least 3 try assist in his 60 mins as well as a very good kicking game with several long touch finders and a couple of deft grubbers reminiscent of his one for Tomane against the Stormers in last years semi win at Newlands.
White was the leading Australian in Super rugby for try assists in his last two seasons in front of lauded playmakers such as Kurtley Beale would be surprised if he needs to be ringing.

Its not about talent or ability rather what number ticket he gets in the queue.

At the Reds it would be behind Frisby, Tahs behind Phipps, Rebels behind Strirzaker and possibly Meehan, Brumbies behind Cubelli and with the raps on Powell he wont get bumped too long, so it leave the potential vacancy at the Force as the best option. Even there he will have to push Prior out again.

 

[Chronicle]

Its not about talent or ability rather what number ticket he gets in the queue.

At the Reds it would be behind Frisby, Tahs behind Phipps, Rebels behind Strirzaker and possibly Meehan, Brumbies behind Cubelli and with the raps on Powell he wont get bumped too long, so it leave the potential vacancy at the Force as the best option. Even there he will have to push Prior out again.

Suppose that says something about Australian rugby if talent and ability isn't enough. Might be why a number of able and talented Australians are playing overseas.

 

[Brumby Runner]

Suppose that says something about Australian rugby if talent and ability isn't enough. Might be why a number of able and talented Australians are playing overseas.

Fan hate is much more important than ability and talent.

 

[Brumbieman]

Its not about talent or ability rather what number ticket he gets in the queue.

At the Reds it would be behind Frisby, Tahs behind Phipps, Rebels behind Strirzaker and possibly Meehan, Brumbies behind Cubelli and with the raps on Powell he wont get bumped too long, so it leave the potential vacancy at the Force as the best option. Even there he will have to push Prior out again.

He would walk straight past Cubelli and into the starting jersey. Not impressed with Cubelli's service, regardless of his running game, which hasn't been much chop anyway.

Fuck it, we could play him at 15, cant be any worse then Toua has been.

 

[mst]

The questions have now started about the Brumbies. It appears paying off a CEO to keep quiet does not make it all go away:

www.canbrrratimes.com.au/act-news/liberals-question-who-benrfited-from-the-government-waiving-a-75-million-development-tax-for-the-brumbies-20160503-gol0e4.html

 

[Strewthcobber]

Tim Gavel reporting that the UC will still be proceeding with their defamation action against Jones and the Brumbies

 

[mst]

Tim Gavel reporting that the UC will still be proceeding with their defamation action against Jones and the Brumbies

Now that is a unexpected plot twist. That puts Roff against the Brumbies as his email is allegedly central to the issue and potentially opens a door for Jones to speak.

On top of Pulvers public admission that Jones has left the Brumbies in a good financial position things are not evaporating away like the Brumbies board wanted I think.

 

[Scrubber2050]

happy to send a free calculator to assist in reconciliation

 

[ForceFan]

G'day All
Have just posted the Ruck Analysis for Round 10 including some updates on the OSF comparison.
Pocock standing tall.

http://www.greenandgoldrugby.com/Super Rugby-aus-ruck-analysis-round-10/

 

[mst]

At the back of my mind and clouded by the more recent events I keep going back and wondering what happened to the Brumbies development application and why it seemed like it was abandoned. So they proposed about 130 apartments up to 3 story's high investing $30Mil. Today the apartments, 120 plus up to 3 storeys are selling. So a one (also 2 and 3 bed) bedroom is going for $440000+. Quick bit of maths suggests we are well above the $53mil being conservative by using the one bedrooms price. I don't know the breakdown of the composition of the apartments but the top end price range is up to $1.4+.

The Brumbies walked away with $11Mil. WTF happened?

Edit: I really need to work on my maths as I was a little on the low side with my "conservative" $54mil estimate:

Among tall trees overlooking Griffith Oval, $2 million-plus penthouses in Amalgamated Property Group's $100 million Amaya will feature boiling and chilled water dispensers.
Amaya's luxury is at odds with then chief minister Katie Gallagher's explanation in July 2013 of why the ACT Government waived a $7.5 million fee to get the project across the line for the Super 15 Brumbies Rugby Club, who sold the land to APG.

http://www.canberratimes.com.au/act...o-university-of-canberra-20160411-go3azw.html

 

[mst]

happy to send a free calculator to assist in reconciliation

Calculator said we can afford it but to call Pulver and the ACT Government to make sure we have the money in advance!

Ask Bill......

 

[Gnostic]

Tim Gavel reporting that the UC will still be proceeding with their defamation action against Jones and the Brumbies

I wonder if giving evidence in court can be counted as breaching a confidentiality agreement? It would certainly make a wonderful argument and if it did breach the contract and the payout is voided would Jones then have sufficient to sue for damages. This would make a good mini series, the Brumbies have taken on the Tahs level of political intrigue and bettered it, something I didn't think would be possible in Australian Rugby. ACT you should be proud, the contagion has spread from Capital hill and is infecting other agencies. Somebody shut the gates on the Hume and declare a no fly zone and to top it off a electronic blackout on the place.

 

[Hugh Jarse]

Will the upcoming election take the attention of Canberrans away from the Brumbies sale shenanigans?