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Parliamentary Enquiry, page-4

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coppernoob

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13/03/19

20:52

Post #: 37752940
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Originally posted by Chimpbpoy: ↑

I really don't understand this attitude. You don't like what Carnegie have done, yet you seem constantly contemptuous of any possible action.

1. Absolutely Irrelevant. Everyone should remember that the money McGowan put into the Albany project in the first place came from him cancelling the planned gas pipeline between Perth and Albany, purely because it was the previous government's plan. So he took that from Albany, and now the "wave power station" is gone too. People are pissed.

2. Commercial in confidence isn't going to save them. They've received two payments, totaling over $7 million of WA taxpayers money and done nothing besides float their wave measuring buoy for a little while, which I remind everyone they already did just a couple of years ago. $7 million for nothing, combined with the media interest they've already received, is absolutely something that will be followed up on. The WA government is going to cop it in parliament and their initial attempt to deflect it to the federal tax rebate won't last. They will turn to Carnegie in their efforts to explain their own actions. There's more that could still come out about the absolute state of nothing that Carnegie delivered for those millions too, if anyone wanted to dig.

3. Class action would likely be a fools errand; Carnegie has no money and there will be no satisfaction there. But I think MO should absolutely be sweating about ASIC looking at him. And a parliamentary inquiry is likely to more sharply focus anything the current ASIC investigation is already doing.

But... what? Businesses that behave inappropriately, mislead the market, breach rules... too hard/do nothing is your advice? People would have said the same thing about every business that has ever been nicked at one stage or another.

Our fellow forum members have already raised complaints with the regulators, some as early as a year or more ago. Others assisted the ABC reporters with their investigation and gave interviews. I know who they are, and I appreciate their efforts.

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Any class action is NOT against the company, it is against past and current directors.

CCE Price at posting: 0.4¢ Sentiment: Hold Disclosure: Held
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Parliamentary Enquiry, page-4

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