The Carrot

Fact:

Kroger's (Liberal Party power broker in Melbourne) private merchant bank was contracted by Packer to handle the Fairfax buyover. Kroger would personally have made several million dollars if the deal had been concluded.

Quote from The Courier Mail Features section September 3rd 1997 - lead story:

Heading - "About turn":

"...they (Richard Alston and Peter Costello) also are close to Victorian Liberal powerbroker Michael Kroger whose merchant bank was handling the Packer attempt to acquire the additional Fairfax shares.

"Estimates of Kroger's potential fee went as high as Au$7 million.... It is, however, fair to say that had the (Packer's) Fairfax stake been increased Kroger's merchant bank would have stood to gain handsomely."

Now ask yourself why John Hewson has set up his own merchant bank since "leaving" politics.

The Stick