Monthly Archives: May 2009

Yankees Update 31/05/09

Leaping To The Top

The 2 week drive that saw the Yankees go 8-2 placed them to be back in the race last weekend. This week the Yankees lost the third game to the World Champion Phillies, but won a series in Texas and the first game in Cleveland, going 3-2. It was enough to place the Yankees at the top of the AL East by half a game.

Jorge Posada has come back, and while Melky Cabrera fell and hurt his shoulder, Brett Gardner has been there to hit really well. The Yankees have finally got most of the lineup they thought they would have with the exception of Xavier Nady. That being said, the big turnaround was probably chracterised more by better pitching than hitting.

With a third of the season gone, we’re starting to see what this team is capable of doing. If they ca build on the lead and go to Boston with a few games in the standings, it would be a good thing, Winning there might just determine the season.

Joba To The Pen?

For some reason, this crowd just won’t shut up. It’s insane, but this week saw the Bleacher Report take the line that Joba was better as the intimidator in the 8th inning. As Joe Girardi noted, the good thing about Presidential debates is that they end. This one just keeps going.

Chien-Ming Wang In The Bullpen

With Phil Hughes pitching well as a starter in the last 2 outings, Wang is still consigned to the bullpen. It really comes down to the fact that between 6 pitchers going in to 5 spots. With three taken by Sabathia Pettitte & Burnett, it’s Joba, Hughes and Wang trying to fit into 2 spots.

After 2 relief outing, Wang looks like he has some of his sink back. It maybe the case that Wang pitches ‘Teh Eighth’ until such time that a starter is needed. I’s not a bad thing having pitching depth. This year, the Yankees have not had to dig deep down to option no. 7, 8 and 9, unlike 2005-2008. Ian Kennedy and Kei Igawa are not within shouting distance of the Bronx this year, while Alfredo Aceves is yet to make a start.

I know it’s early days but signing AJ Burnett in the off-season was a good deal.

Swisher’s Blues

After hitting like Ruth in April, Swisher has been struggling at the plate in May. He took a HBP to the elbow in early May and has been hititng like crud since. It’s reminiscent of Jeter last year when he got hit in the hand by Daniel Cabrera in May and he didn’t really hit the way he can until September.

I just wonder when Swisher is going to stop hurting and turn it around.

Derek Jeter Nudges .300

I mentioned a couple of weeks ago that Jeter’s BABIP was way below his career norm. In the last few weeks he has seen it rise to above league average, and with it, he has rasied his Average to close to.300. It doesn’t seem like Jeter is actually slowing down at all.

In the field, Jeter’s defense has been average for Shortstop, with a UZR/150 of 0.7. Even at 35, reports of his demise were probably premature.The Yankees actually need to figure out a way of not letting him get so banged up.

F*ck You Pavano

Carl Pavano went 5-1 for the Indians this May. It’s more wins than he ever got for the Yankees.

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Sol Said…

Is Australia Racist?

And the collective cry went out, “aww come on Sol, you stupid incompetent millionaire!”

Asked in a BBC interview whether there was racism in Australia, Mr Trujillo said: “I think it was evident in a lot of ways with me personally but more importantly with others.”

His comments have shocked some, including the head of the American Chamber of Commerce in Australia.

“I was quite flabbergasted to hear his comments,” said the chamber’s chief executive, Charles Blunt. “And I was quite shocked.”

And Victorian Premier John Brumby said the comments appeared to be nothing more than sour grapes.

“I don’t know what he’s talking about, frankly,” he said.

‘Step back in time’

Mr Trujillo, who earned millions at the helm of the one-time taxpayer-owned telecommunications giant, cited what he described as “restrictive” historical immigration policies and “events over the past five or 10 years” that the report did not specify.

“I would say that Australia definitely is different [from] the US. In many ways it was like stepping back in time,” he said in the interview, which was broadcast in part by ABC Radio this morning.

He said he was sure that would continue.

“But my point is that [racism] does exist and it’s got to change because the world is full of a lot of people and most economies have to take advantage – including Australia – of a diverse set of people.

“If there is a belief that only a certain people are acceptable versus others, that is a sad state.”

Racism as an institution in Australia is long dead, but the residue of that racism is everywhere – but it’s everywhere in most countries. It’s not really more so here in Australia than it is in say, Sweden or Canada or Mexico or Russia or China or the USA.

Sol saying Australia is racist has brought forth much discussion this week in the press, much of it in hot denial and accusations that maybe Sol himself was derogatory towards Singapore (stretching it, I thought, when I read the actual quote) or that perhaps he mistook the jokes as pointed xenophobia.

Let’s get the jokes out of the way first. Jokes are pointed stereotyping. If anybody cracked a joke about Sol being of Mexican extraction, no matter how jocular and in “just-for-fun”, if Sol took offense to it, it was offensive. I think people who are willing to make those jokes should be willing to die by those jokes. As Chief White Halfoat notes in Catch 22, “racism is a terrible thing when they treat an Indian like some spic, nigger, or kike”.

A good point was made here by Sam DeBrito about the Chk-Chk-Boom Chick here.

More recently, good ole Chk Chk Boom chick, Clare Werbeloff, apologised for any offence she cause by using the term “wog” in her video-taped lie about witnessing a shooting in Sydney’s Kings Cross … then defended her use of the word saying her generation “don’t really take offence to it any more”.

Honey, you are a white chick from the suburbs, you don’t get to decide if the word wog is offensive, us wogs do.

Umm, yup. Totally got your back there wog boy. 🙂

In that sense, it doesn’t matter what Peter Costello says with his smug self-righteousness, if Sol thought you were a xenophobe for your attitudes, he’s entitled to expres that opinion. As Mr. deBrito rightly points out, Mr. Costello, you’re a white dude from white-loaf Melbourne. It’s Mexican-ancestor-Sol-Trujillo who gets to decide if your attitude is offensive or not. And it most probably was, given the over-hanging smug white-Australia Liberal values that your government had.

And it doesn’t make it any bloody better when Kevin Rudd has to say “adios” as his parting shot to Trujillo, what with his Hicksville-in-Queensland upbringing and all. See? if you want to be derogatory about people, you just have to denigrate where they come from. But no, Kevin isn’t really xenophobic.

THE Prime Minister, Kevin Rudd, has telephoned his Indian counterpart, Manmohan Singh, amid growing anger in India over attacks on Indian students in Australia.

Mr Rudd congratulated Dr Singh on his recent re-election but the pair also discussed the recent series of violent assaults, sources told the Herald.

In a sign of New Delhi’s unhappiness over the attacks, the Indian foreign ministry called in Australia’s high commissioner, John McCarthy, yesterday.

Mr McCarthy told the Herald that one of India’s top diplomats, N. Ravi, “clearly conveyed Indian concerns” about the attacks.

“I told him that the Australian Government is also very concerned, that Australian ministers had expressed this, and that we are doing everything we can to address the issues.”

No, Kevin isn’t xenophobic but Melbourne seems like a hotbed of xenophobes. So it’s a bit of a relief today to find that Adele Horin has this article.

The messenger is dislikeable, but let’s not shoot him. Trujillo’s message about Australian racism has some validity. It would be useful if his words prompted reflection instead of defensiveness.

Australia’s multiculturalism, which most citizens wear as a badge of pride, is in need of attention. After years of the Howard government’s antipathy to the very notion of multiculturalism, there is work to be done, and little evidence of progress under Rudd.

We are a fairly tolerant nation that has absorbed waves of immigrants remarkably peaceably. Since the abandonment of the white Australia policy from the late ’60s and the adoption of multiculturalism, Australia has been touted as a model of tolerance and diversity.

But that was years ago – before Pauline Hanson, before Tampa, before the Cronulla race riots where the infamous slogan “We grew here, you flew here” rang out; that was before Camden citizens blocked the building of an Islamic school, before a Sudanese-born teenager was bashed to death, before Australia got caught up in the Islamophobia sweeping the world. Racism was on display last weekend, when the Cronulla rugby league captain Paul Gallen called a St George Illawarra forward, Mickey Paea, a “black c—“.

At the top of corporate Australia, Trujillo could hardly have missed the dominance of white Anglo males. A cursory glance at the chief executives of our top 100 companies reveals an overwhelming predominance of men called Steve, Greg, John, Rod and Paul. There is hardly a surname suggestive of Asian or Middle East background.

The lack of diversity in corporate life compares unfavourably with the US where decades of strong affirmative action has had effect. The same applies to TV. Here reporters and newsreaders do not reflect a diverse society. Networks don’t seem to consider it important.

We are not more racist than other countries, and possibly much less so. We have no serious problem with skinheads, the Ku Klux Klan or a strong National Front. On the ground, most people muddle along, at least in ethnically diverse neighbourhoods. If they do not fulfil the multicultural fantasy of becoming best friends, or inter-marrying, they are civil and helpful to one another. “People rub along in a benign way,” a Macquarie University researcher, Dr Amanda Wise, says. “The problems are in white areas like Sutherland Shire where people have no contact with cultural difference and form stereotyped views.”

That about sums it up. The 11 years under John Howard have done horrendous things to what we think is okay. Sol Trujillos saw it and called it like he saw it. I don’t blame him one bit for that. I blame him for the Telstra share price, but I don’t really disagree with him about xenophobia in Australia.

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“Die Hans Brix!”

Team North Korea

Every few years, North Korea surfaces from the sludge of international relations to rattle its sabre and detonate half baked nukes and fire inaccurate missile tests. It’s quite a joke really if it weren’t for the fact that Kim Jong-Il seems pretty serious about his threats and nobody is willing to march in to North Korea to get themselves some regime-change-a-la-Iraq.

Thus it’s always a bad time when North Korea decides to announce that it’s detonated its second nuclear test, total contravention of anything discussed in the Six Nations talk. The Six Nations which include the 2 Koreas, China, Russia America and Japan have so far pleaded and begged and bribed with North Korea to stop its nuclear weapons program, but when they go and set off a 20kiloton nuke in a test, it’s time for some diplomatic strife.

KoreaIlThese fireworks follow the launch in April of a three-stage rocket over Japan and the Pacific. Until that point, it was still possible to argue that increasingly belligerent rhetoric from Mr Kim’s regime was just his way of catching the attention of President Barack Obama’s new administration. The pariah state had long said it wanted an accommodation with the United States that guaranteed its security. But engagement with the outside world now looks near the bottom of its priorities.

North Korea also says it has torn up the truce that ended the Korean war in 1953. This was provoked, it says, by South Korea’s decision to join the American-led Proliferation Security Initiative, a group that aims to block shipments of weapons of mass destruction and related contraband. South Korea was reacting to Mr Kim’s nuclear test; North Korea accused it of a “declaration of war”. With American and South Korean troops put on a higher alert, some kind of military clash looks possible.

North Korea has also said it is restarting its plutonium reprocessing plant at Yongbyon, closed since 2007 as part of a disarmament deal negotiated with America, South Korea, Japan, China and Russia. International nuclear inspectors have been kicked out of the country. There is also concern that North Korea will resume selling nuclear technology abroad.

Earlier this month North Korea told South Korean managers at the Kaesong industrial complex, not long ago seen as a symbol of warming ties on the peninsula, that they must sign new, costlier contracts for North Korean workers, or pack up and go. The chief North Korean negotiator of closer relations between North and South, once a confidant of Mr Kim, is rumoured to have been sent to a labour camp and even shot, possibly for taking bribes.

It’s an ongoing joke. Like the warlords of Afghanistan, Kim Jong-Il makes his money dealing Heroin. They sell arms to dictators in Africa, they deal in black diamonds and whatever portable wealth while their population is starving. The regime is repressive to the point of cruelty, and the people are totally brain-washed in to supporting this system because dear leader allegedly makes it so good. It’s like a whole nation that’s been held captive by a cult of personality trying to build an on-going dynastic system like some medieval king. And the fact that the rest of the 21st Century world actually has to take this nation more seriously because of its serious nuclear ambition is truly pathetic.

But deal with them we must.

Nobody seems to have a plan on how to get North Korea to quit being North Korea as it were. Are they merely essentially fucked up? Or is it that they work hard to be so fucked up? Or is that they get immense help and encouragement to be so fucked up?

The Chinese are too invested in having the nation as a bulwark ally facing off the …err… capitalist West at the 38th Parallel instead of on its own borders. It’s not unlike the anxiety Russia has about the Ukraine wanting to join NATO. China doesn’t ant North Korea to be absorbed into South Korea because suddenly the running dogs of the Capitalist West would be at their doorstep across the Yalu River.

Remember Douglas MacArthur’s great plan to drop 8 nukes north of that river to create a no-mans land forever which would keep the Chinese out of the Korean peninsula? Yes, the plan that got him sacked by Truman. It sure looks prescient today, if only because dealing with the Kim Regime in both its generations has been like pulling teeth without anaesthetics – a medieval sort of problem. That’s the Yalu River for you.

Perhaps we’re lucky that Truman’s notion of no further nuclear wars prevailed. China and Russia are still talking to the rest of the world, if with their own strategic concerns being their bug bears. That being said, most of these strategic concerns are a bit silly if it means in the case of Russia, the Ukraines cannot get energy supplies and in the case of North Korea, it continues the aggravation of this nuclear threat. And seeing that the Cold War is long over, you wonder why they let these Cold War Era politics continue locally to the detriment of their own reputations. I guess you can put this down to bloody-mindedness.

If it ever comes down to a military solution, it’s going to have to be China that digs out the Kims from their bunkers, and not the USA or the West or their allies in the far east. If nukes ever get exchanged, then you’d have to say MacArthur had it right in 1951.

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News That’s Fit To Punt 26/05/09

Arms Dealing

Pleiades had this interesting story today: The Japanese might have committed atrocities in the second world war. They might have hit first with Pearl Harbor, but there’s one thing the Japanese have sworn off since the 1970s and that is the business of exporting arms. Then again, it hasn’t really needed to resort to such means until now.

The huge engineering and technological might of Japan may be poised for a new lease of life as the country prepares to ditch a self-imposed ban on arms exports that was introduced in the mid-1970s.

The controversial decision, which is likely to encounter bitter opposition from the country’s mainly pacifist middle classes, could deliver significant economic benefits to Japan and lead to a realignment in the global defence industry.

A ruling party MP said that the greatest significance would be the conversion of Japan’s robotics industry from civilian to military use as the world’s defence spending is directed to remote-control hardware, such as drone aircraft.

Lifting or toning-down the 33-year old embargo would unleash some of the world’s most advanced heavy engineering companies into the international weapons market, one of the few areas of manufacturing where Japan’s immense technical resources have, for purely political reasons, not produced a dominant global player.

It really comes down to the fact that there won’t likely be an export-led recovery anytime soon, and it’s difficult to expand domestic demand when everybody has everything and the population is generally aging. Everybody already has any and every gadget under the sun, multiple watches, and some people have multiple cars. Japan is a land of material plenty where people are trying to sell even more things but you can just see it’s a really hard sell.

So it seems the Japanese government is about to unseal one of the options they mothballed when times were better just to pay the bills. Let’s face it, USA, the EU, China, North Korea, Russia and India all profit greatly by selling guns to African despots who then run interminable Civil Wars. Nobody’s discussing it out loud, but most of the African civil wars of the last 40 years were fought with weapons sold to them by these nations. Oliver North’s Fruitfly thing doesn’t just pop out of nowhere – it’s a product of a highly organised trade in arms all over the world that ends up with civil wars and child soldiers in Africa.

Apart from the glaring ethical issues above, there’s no practical reason not to re-join in the international arms trade. Even the ethical problems of it boil down to something like: it’s either your kids who starve to death or somebody else’s kids who get shot, so you choose somebody else’s kids getting shot.

Still, given the amount of plenty in Japan, it seems a little harsh to make that call, but Japan has been in the doldrums for a while now, and the GFC has ravaged the economy even though they didn’t have a debt problem. Thus it seems they’re willing to go to where they weren’t before. It’s as if they’ve lost a layer of luxury.

People will discuss this in terms of whether Japan is going militaristic again, but I think that would be missing the point. Make no mistake, Japan is doing this to pay its bills. It’s that dire in the GFC when the benevolent Pacifist uncle decides to deal guns.

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Star Trek Review

To Boldly Do What Has Been Done To Death

I was a trek fan as a kid. Not a Trekkie as such because I never really had the toys or played Kirk and Spock in the local park. As kids, we all liked Star Trek because it was interesting. As a teen I grew away from it, and the Star Wars franchise stole the thunder of Star Trek for a good deal of my teens. It was only in my Twenties where I began to turn over the ideas in the Star Trek universe in much finer detail.

The movies from the 1980s provided much fodder for thought about who these characters really were, and what was inherently dramatic about Star Trek as a universe. All these notions came to us through movies such as ‘Wrath of Khan’ and ‘Search for Spock’. Indeed, ‘Wrath of Khan’ marks some kind of highpoint in 1980s cinema to the extent that it even got Seinfeld‘s ringing endorsement.

Yes folks, there’s a lot of interesting detail in the Star Trek universe that is thought provoking which is why it sustains itself through various incarnations. When the Next Generation series came along, I was riven with ambivalence. On the one hand, I wanted to like this new group of characters, but on the other hand I had developed views of my own about how captains of a starship ought to be based largely on Captain Kirk and Captain Piccard sure wasn’t Kirk.

Eventually the ‘Next Gen’ characters moved onto the big screen and gave rise to their own coterie of films culminating in ‘Generations’ where they killed Captain Kirk, and I think that was about the time I totally switched off the saga.

I’m relating this long-winded background to my appreciation in as much as it’s probably representative of most people who are passingly familiar with Star Trek going in to see this film. So this, in a sense, is my caveat about reviewing this new Trek movie – I’m going into with a lot of baggage.

What’s Good About It

For the fist time in a Trek movie, the action is pumping. The fisticuffs, the stunts, the photon torpedoes, the exploding planets, the monsters on frozen ice worlds, all have a heart-stopping quality that’s never been part of the Trek movies.

The action has enough energy to keep you on the edge of the seat with sweaty palms, holding your breath. There was never a moment in any of the old TV episodes where the Kirk fisticuffs had as much compelling action. The movies are more concerned with aging than action, and so there never was this athletic feel. There’s something very appealing about this burst of energy.

The film is also true to the sequence of films. While it is a re-boot, what we’re seeing is an entirely new Kirk and crew come together in an altered universe, which was altered indirectly because of Spock from the original series. I’ve been pondering this idea over since seeing the film and I think it is one of the better things about the film.

Zachary Quinto’s Spock is spookily reminiscent of a younger Nimoy’s Spock. The slight slouch, the raised eye-brow, the squint, the deadpan delivery. Chris Pine’s Kirk is a far cry from Shatner’s caffeinated loony maverick. He’s more like an adrenalin junkie ready to leap into any action, regardless of the consequence. The rest of the cast round off nicely.

In any case, you can tell the writing, directing and casting of the film was a labor of love, and that is exactly what needed to be done to bring this franchise back.

What’s Bad About It

The action is good, the energy is good, but sometimes the film feels like it’s more flash than thought. Maybe I’m being a little obtuse here, but the thing that separated Star Trek from Star Wars was the meditative quality of space itself. Space in Star Wars is a backdrop against which spaceships speed and shoot and dogfight. In Star Trek, space itself is the medium upon which human, Vulcan and Federation thought is writ.

This is an important distinction between the two franchises. To boldly go into the unknown is the original mission. Star Trek has always tried to grapple with the nature of this exploration. Star Wars by contrast is a war that is being fought after all the discoveries have been made, and then forgotten and re-discovered. So to take away the very meditative quality from Star Trek and substituting in the Star Wars ethos is something with which I feel uncomfortable.

This film might be the least cerebral, un-thought-provoking Trek movie, ever.

What’s Interesting About It

I’ve been thinking lately with all these re-boots that one of the features of 20th Century Fiction was the creation of so many characters that sustain multiple narratives. That might be James Bond or Indiana Jones or Jason Bourne or Spiderman. If there was one distinguishing feature of fiction in the last century, it might have been the explosion of these characters that now inhabit our consciousness.

If you line up the best characters of the 19th century, you end up with ‘The League of Extraordinary Gentlemen’. If you did the same with 20th Century fiction, you would have an Army of Extraordinary Gentlemen.

Forget whether it is highbrow or low-brow for a moment. The fact that these characters keep coming back tells you something about who we are. And here’s another interesting thing – James T. Kirk and Mr. Spock are making a return this year as America reaches out for hope in a way that it hasn’t since the 1960s when Kirk and Spock first graced the small screen.

The incarnations of Kirk, Spock and company have gone through TV shows to animated series to the 6 films on the big screen, 7 if you include the tragic and execrable ‘Generations’, and here we are again, watching with avid interest. So, one has to think there is something inherently interesting about these very characters, otherwise we wouldn’t be bothered with them so much.

Trekkie fanboy-isms by some aside, the degree to which these characters inspire revisiting suggests that our culture needs Star Trek more than we care to admit. There’s something primal about the appeal of people going deep into space to solve dramatic problems. Don’t be surprised if there are lots more of these movies to come.

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Yankees Update 24/05/09

A Much Better Week

Since that horrible 1-5 week a fortnight ago, the Yankees have turned it around putting in a 9-game winning streak. In the process they have wiped off the 2 game deficit below .500 and are now 6 games above for the first time this season. The winning pct for the season is .585, which is very close to what they need to make the 95win mark, which may or may not be enough to make the post-season. Anything short of 95wins on the other hand means they will be counting on others to fail, which is not where they want to be.

The streak included the 2 wins against the Twins in the remainder of that 4 game series and a 3game sweep of the Orioles this week. So they have managed to undo the damage of that 1-5, immediately following on. The Blue Jays were swept by the Red Sox this week so they’ve fallen back to the pack. The Red Sox themselves have been playing at a .600 clip in the last 10 games, but the Yankees have managed to close on them as well.

Then of course they ended the streak by losing to the Phillies, but they won one today, so the week is 5-1. At 1.5 off the Division lead, the Yankees aren’t looking as bad as 2 weeks ago. It’s nice that the Yankees have done so well to recover from that week, but it means they have to keep it up to catch the Blue Jays and Red Sox.

Francisco Cervelli

The big revelation during this stretch has been the guy who got the call-up from AA, catcher Francisco Cervelli. Cervelli has been an integral part of the winning streak where he has hit .323/.344/.323 His catching skills have been praised soundly, but that batting average has been gravy. His OBP was sitting at .393 through to the May 19 game.

The reports on Cervelli were that his hitting was not as impressive as his catching, but he has come in from Trenton which is a pitchers’ park. Of course Ramiro Pena’s bat has cooled significantly. We sort of wonder what Angel Berroa is still doing on the40-man roster, given that we lost Steve Jackson to the Pirates.

The Pirates Have Kidnapped Our Pitchers

The supposedly upcoming pitching depth of recent years has somehow ended up in the Pirates. The list includes Jeff Karstens, Russ Ohlendorf, Eric Hacker and now Steve Jackson. Steve Jackson was claimed off waivers by the Pirates and the Yankees got nothing back in return. Worse still, Steve Jackson was the last player the Yankees got in the ditching of Randy Johnson – which was ditching a guy that was useless to them, however you’d still want *something* when you trade him away.

When you add in Jose Tabata, it looks like the Pirates are busily rebuilding from Yankee spare parts. Maybe they’ll even trade for Eric Duncan.

Part of it is a function of having signed CC Sabathia and AJ Burnett while keeping Joba, Ian Kennedy and Phil Hughes and re-signing Pettitte. There just weren’t going to be spots for these guys. Still, it’s weird seeing all these names over with the Pirates.

Don’t Want To Jinx Them But…

The C&C hit factory, Robinson Cano and Melky Cabrera are doing very well at the moment. Last year Cabrera had a great April that looked like he was turining into Bernie Williams. Then he went on to have a truly below-replacement level season. So, I’m tempering my praise but he’s looking very good hitting .317/.370/.500. He’s also doing this on league average BABIP so that indicates he’s done it without much luck. The increase in his line-drive percentage is very encouraging.

Cano is back to his 2007 level of production. He’s hitting .317/.354/.527, which is very handy to have coming out of second base. What’s encouraging about Cano is that his BABIP is not out of line with his 2006 and 2007.

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BrisConnections News

Recycling Trash

The defaulted BrisConnections securities are going to be packaged up and sold again.

Nearly 280 million Brisconnections securities – more than 70 per cent of the group’s issued capital – will be auctioned next month after they were defaulted following a second instalment date.

BrisConnections offered stapled units at $3 each when it floated last year, with $1 payable upfront and two further $1 payments due nine months and 18 months after the allotment date.

The second instalment was due on April 29.

Under the trust’s constitution, all securities in which the second instalment remains unpaid are to be defaulted.

“These defaulted securities will be offered for sale at a public auction,” Brisconnections said in a statement today.

It is estimated approximately 278 million securities will be offered for sale, just over 70 per cent of the total 390 million securities issued.

The securities will be offered at a reserve price of $1 each, in lots of 500 units or more.

The auction will be held in Brisbane on June 5.

So, let me get this straight… These people originally sold something encumbered with a $3.00′ liability for 1 dollar, and it plunged through the floor. Once defaulted, they’re going to recycle the defaulted ones and exempt the $1.00 due this year, but try to get the last of the $1.00?

So they’re Auctioning something that actually will have a net value of $0.00 with a starting price of $1.00? Why isn’t ASIC investigating these guys?

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