Monday 25th of November 2024
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from the little prime prattler .....

 

from the little prime prattler .....

Howard has no plans to make price fixing criminal

Prime Minister John Howard has refused to commit to making price fixing a criminal offence but said the government would continue to review the Trade Practices Act.

His comments come after billionaire businessman Richard Pratt yesterday admitted his company Visy was involved in price fixing in the cardboard market.

"We would continue to examine the strength of the trade practices law and if further changes were needed we would implement them but I'm not making any commitment beyond that," Mr Howard told reporters in Melbourne.

He said he knew Mr Pratt very well and he was a good citizen but could not comment further on the case because it had yet to be finalised by the Federal Court.

"For myself I find Mr Pratt to be a generous Australian, he's been particularly successful in business and my own dealings with him have always been very positive and I like him," Mr Howard said.

Mr Pratt has made significant donations to both the federal Liberal Party and the ALP in the past.

He is expected to agree to an out-of-court settlement of up to $40 million with the Australian Competition and Consumer Commission for participating in a cartel with rival packaging firm Amcor.

Howard Has No Plans To Make Price Fixing Criminal

I like him too...

Visy faces $36m fine

Australia's biggest packaging company faces a $36 million fine for colluding with its main competitor.

Billionaire businessman Richard Pratt recently wrote to customers of his company Visy Industries, admitting that its executives had breached the Trade Practices Act when they held discussions with Amcor.

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Gus: if it's okay for the PM to like (see cartoon above), I'll go on the me-tooism band-waggon... Same with the AWB bribes (sorry: kickbacks) to Saddam... Sure the PM did not know... but I did not know either, so my too-ism is spot on with that of the PM... Anyway, I ask you, who has been charged and locked up for the AWB deed? Nobody? So here you are... A little sumpthin' that's fallen in the crack of the chief plumber's butt... Anyway, it must have been in the best national interest of Orstralya... We got the darned contract to sell wheat, didn't we? And why not throw in another little war for oil, as well, somewhere oily... Got to help these Yanks. Without us, they'd be lost. Or go understrength. And they'd invent some silly reasons, like fear of nuke and puke... Why not Iran, did you say? Piece o' cake. Slam dunk!.. Mishum accumpleeshed... And some voluntary reductions of emissions of greenhouse gases? In 2032, did you say on the right over-there? Sounds good... Easy on the purse... By then we'll know a bit more what this greenhouse thingy is all about... Meanwhile, do I feel like throwing a few kids overboard for breakfast...? Just kidding! Just to show they're the wrong colour... And and and... I'm all for tackz cutz too. Why pay tackz when the government is going to give it back to you anyway in roads, health and education. And porkies... Please don't forget the porkies... Vote for Johnnee! See If I care about anything else but money... Morality? Truth? Equitability? Hey? Yar Kiddin'... You're not trying to make this band-waggon go on a guilty trip, are you? Because it won't work... I gave two bux to charity a couple of weeks ago! There! That should fix it... So, gimmee, gimmee, gimmee...

euphemistically

AWB judge warns against overseas business 'bribes'

 

from the ABC

The former judge who headed the inquiry into the AWB scandal has criticised the law which allows Australian companies operating overseas to pay what he says are small bribes.

Terence Cole QC says Australian laws do not tolerate corruption, but there is an exception which defies logic, ethics and commonsense.

He has told an anti-corruption conference that Australian companies are allowed to make what are euphemistically called 'facilitation payments', but only overseas.

The former judge says companies can get away with paying bribes by showing them as minor facilitation payments, and claim them as tax deductions.

He says corruption is against the law and it is critical for Australian companies to ensure that commercial morality is put above profit.

"There is the old debate about whether you can teach morality or not," he said.

"One has to believe that one can so that proper principles can be implemented in our commercial dealings."

Mr Cole says Australian companies are in an invidious position in countries where corruption is seen as a part of business.

A saint...

Visy fined $36m over price fixing

The Federal Court has fined Visy $36 million over its involvement in a price fixing cartel.

Visy's former chief executive Harry Debny, who accepted responsibility for his part in the cartel, was fined $1.5 million.

Former general manager Rod Carroll, who also accepted responsibility for the cartel, was fined $500,000.

Richard Pratt, as owner of Visy, escaped a personal fine.

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Gus: not even a one symbolic dollar... What about giving Richard a sainthood?