Today's Headlines
Saturday 2nd March
International:
Queensland's major rural beef market was in turmoil yesterday with the worst market collapse in over 20 years.
Panic was evident as stunned producers demanded answers for tens of millions of dollars being stripped off their returns within days.
In Asian markets the price of meat has slumped from 30 to 50% with the price plunge expected to worsen.
More than eleven million Australian voters will go to the poll today. In the key state of Queensland Labor has failed to make up any lost
ground. Although the newspaper polls claim that the result will be close, I personally believe that the Liberal Party is going to romp home
with a swag of new seats. I would go so far as to say that they might just hold the balance of power in the Senate for the first time in
years. The balance of power in the upper house is normally held by the Australian Democrats - the reason they talk about "keeping the
bastards honest". (The bastards being the Liberal and Labor parties).. The telling poll (even though I think most of them aren't worth
the effort) is the Quadrant Poll which has shown that the Liberals lead Labor 59.5% to 40.5% in key marginal seats which will decide
the result of the election.
We will give you an update on early results tomorrow.
Business:
Newcrest Mining Limited has staged a Au$425 million lightning raid on Robert de Crepigny's Normandy Poseidon and Posgold companies.
Normandy shares rose 25c to Au$2.65 while Posgold rose 28c to Au$3.75. The raid has thrown de Crepigny's plans of a merger between the
two companies into confusion. To add a twist it was Ango American who sold its large stake to cash up in an expected bid to take over key
Australian gold mining companies.
Sport:
Australia beat Zimbabwe yesterday in the World Cup cricket match bowling them out for 154. Spinner Shane Warne took 4 wickets.
Australia easily reached the score while losing only 2 wickets.
Social:
Today is Clean Up Australia day. 144 rubbish hotspots in Brisbane will be tackled tomorrow. A record number of Australians are expected to
participate in the community based exercise started by Australian John Keenan several years ago in Sydney.
Personal trivia:
The weather over the last couple of weeks has been absolutely beaut. Warm days and nights... not hot thank God! We had our fair share
of those earlier this year. Last night my wife and I went to a school do for parents of year 10 students. Unfortunately the teachers
outnumbered the parents... must be election fever!
Today we take young Alex to the Koala Hospital at Moggill. His Koala trouble
web will shortly feature some of the photos that we expect to take.
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