Monthly Archives: December 2018

[email protected]: The bulls are back

The information of stocks that lost in prices are displayed on an electronic board inside the n Securities Exchange, operated by ASX Ltd., in Sydney, , on Friday, July 24, 2015. The n dollar slumped last week as a gauge of Chinese manufacturing unexpectedly contracted, aggravating the impact of declines in copper and iron ore prices. Photographer: Brendon Thorne/Bloomberg MARKETS. 7 JUNE 2011. AFR PIC BY PETER BRAIG. STOCK EXCHANGE, SYDNEY, STOCKS. GENERIC PIC. ASX. STOCKMARKET. MARKET.
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Stock information is displayed on an electronic board inside the n Securities Exchange, operated by ASX Ltd., in Sydney, , on Friday, July 24, 2015. The n dollar slumped last week as a gauge of Chinese manufacturing unexpectedly contracted, aggravating the impact of declines in copper and iron ore prices. Photographer: Brendon Thorne/Bloomberg

The world’s financial markets are the very picture of calm and tranquillity, where the short sellers are getting squeezed and the bulls are once again dominating.

1. Happy days: The MSCI World stock index (trade the URTH ETF) is trading at a new all-time high. European markets have found their mojo and whether we look at the set-up on the DAX or the EU stocks 50 indexes, the current set-up on the daily chart suggests the higher probability trade is for higher levels here. The S&P 500 is a whisker away from the all-time high of 2490.87 set on 8 August, and we will be watching the S&P 500 futures through Asia today to see if the futures index can print a new high here. Both the Dow Transports and the Russell 2000 index closed 1.1% higher, giving the move in equity backbone, while we can see 88% of stocks higher on the S&P 500, showing solid breadth in the days buying.

In Asia, we can see very bullish set-ups in the Hang Seng and India 50 (happy to be long these markets), while the ASX 200 and Nikkei 225 are pushing closer towards the top end of their trading ranges.

2. Wall Street: We have also seen some strong performance from US high yield corporate credit, with spreads coming in 11 basis points (investment grade credit spread closed 3bp tighter), and again this stamps the approval that today’s US session was of good quality, backed by S&P 500 volumes 7% above the 30-day average. All sectors rallied, providing Asia with a solid platform to move higher, despite many of themes which have pushed up European and US markets playing out in our time frame yesterday and thus partially in the price.

3. ASX: Perhaps a good way to visualise this pricing is that despite S&P 500 futures trading up 0.4% at the ASX 200 close yesterday (at 16:10 aest), we can see they sit 0.6% higher now. It’s no surprise, therefore, that SPI futures are trading up 21 points (or 0.5%) and our call for the Aussie equity market suggests an open at 5737. So, while traders had bought into Aussie (and broader Asian) stocks yesterday on the idea that Hurricane Irma is unlikely to cause the damage some had feared, while the rebuilding process will add to growth in the quarters ahead, not to mention the absence of anticipated missile tests from North Korea, most of this news flow is in the price. However, there is no doubt that sentiment has picked up here and implied volatility has moved lower with a certain calmness returning to markets.

4. Rate talk: Interestingly, we can see that the broad improvement in financial conditions has propelled market pricing around potential tightening from the Federal Reserve this year from around 25% (on Friday) to currently sit at 35%; so a chunky move in Fed expectations. The US 2’sv 10’s fixed income curve has steepened a touch to 81 basis points (bp), with selling in longer-term rates somewhat more aggressive than that of short-term rates. This, in turn, has lifted US financials by 1.7% (and should support Aussie banks), with the US dollar index (DXY) gaining 0.7% and the greenback rallying against all G10 currencies, expect the CAD, which is the star of the FX show. USD/JPY has been well traded and finds itself pushing into ??109.50 and eyeing a move into key supply seen in the ??111.00 to ??110.50.

5. Aussie dollar: AUD/USD is also on the radar, as this pair is over owned in a huge way and Friday’s pin bar reversal is playing out in textbook fashion, with the pair moving into the lower 80c level and the probability that a short-term move into $0.7950 to $0.7900 looks ominous. Today’s NAB business confidence print (released at 11:30 aest) shouldn’t move the pair to any great capacity.

My set-up of the day is EUR/CAD though and a close through c$1.4480 (strong horizontal support through July) would open up sizeable downside risks.

6. Stocks to watch: Back in equity land, we saw a strong rotation from funds switching from ASX materials into financial stocks yesterday. Well, today we should see both sectors working higher today with BHP expected to open 1.6% higher and Vale’s US-listing closing 1.3% higher, so both names indicate a more upbeat feel to Aussie miners. US crude prices have closed 1.3% higher and have retraced close to 50% of the losses seen on Friday. Spot iron ore was smashed 5%, but more importantly has been the 1.8% and 1% rally in iron ore and steel futures traded on the Dalian exchange in China. Coking coal futures have risen an impressive 4.2%.

7. Gold loses sheen: Gold stocks have had their time in the sun, it seems, and the moves higher in US bond yields and the USD have seen gold move 1.5% lower. The gold miners ETF (GDX ETF) closed lower by 2.7% on the NYSE. Importantly, spot gold is holding $1326 (the 29 August high and also 5 September low), so a break below here could see the metals target $1300/1299, although this will be dictated too by the short-term moves in US bond yields, which in turn will take direction by the two key event risks for the week – Thursdays core CPI and Fridays US retail sales report. The gold bulls will want to see a weak number in both reports, causing ‘real’ yields to head back lower.

8. Market watch:

SPI futures up 31 points or 0.5% 5736

AUD -0.4% to 80.28 US cents

On Wall St: Dow +1.2%, S&P 500 +1.1%, Nasdaq +1.1%

In New York, BHP +1.7%, Rio +2%

In Europe: Stoxx 50 +1.4%, FTSE +0.5%, CAC +1.2%, DAX +1.4%

Spot gold -1.2% to $US1330.77 an ounce

Brent crude -0.1% to $US53.75 a barrel

US oil +1.1% to $US48.02 a barrel

Iron ore +US13?? to $US74.49 a tonne

Dalian iron ore +1.9% to 540 yuan

LME aluminium +1.1% to $US2122 a tonne

LME copper +0.8% to $US6748 a tonne

10-year bond yield: US 2.12%, Germany 0.33%, 2.60%

This column was produced in commercial partnership between Fairfax Media and IG

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Shaun Oliver died a hero, trying to save a stranger’s children from drowning at Wollongong’s City Beach

Wollongong drowning: Shaun died a hero, trying to save a stranger’s child HERO: Shaun Oliver. Picture: Facebook
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Picture: Robert Peet

TweetFacebookWollongong drowning: Shaun died a hero, trying to save a stranger’s childhttps://nnimgt-a.akamaihd苏州夜场招聘/transform/v1/crop/frm/bEHa392pg8uWfDH5RxA6T9/d172152c-c830-4d68-bfca-f1b6bbb7f2b4.jpg/r2_85_958_625_w1200_h678_fmax.jpgA father-of-three who drowned at a Wollongong beach on Sunday has been hailed a, drowned, died, oliver, four kids2017-09-12T05:30:00+10:00https://players.brightcove苏州夜场招聘/3879528182001/default_default/index.html?videoId=5571631676001https://players.brightcove苏州夜场招聘/3879528182001/default_default/index.html?videoId=5571631676001An off-duty paramedicleft his wife and his own young child on the sand in order to bring the 10-year-old boy ashore, saidDetective Inspector Brad Ainsworth, of Wollongong Local Area Command.

Mr Oliver got into trouble as he attempted to rescue the 12-year-old boy.

Surfers ultimately came to the boy’s aid. Meantime, Mr Oliver was swept out to sea.

Three police officers later stripped off their uniforms and pulled him to shore, where paramedics tried in vain to revive him.

Paramedics transported one patient, believed to be in a serious condition, to Wollongong hospital by road ambulance.

He was later pronounced dead at Wollongong Hospital.

“It’s a heroic act,” Det Insp Ainsworth said. “It’s unfortunately cost him his life.”

The stricken children and their father were visiting the unpatrolled beach from their home south of Wollongong.

Read more:Most people can’t spot a rip. Can you?

Addressing reporters on Monday morning, Det Insp Ainsworth expressed frustration at the loss of life. He described surf conditions at the time as“treacherous” and confirmed the beach was closed when the family entered the water.

“There was a heavy surf, there was a drag, there was an undercurrent -there were all the conditions there that you don’t go in,” he said.

“It’s a tragic loss of life and, not putting too much of a point on it … it really puts individuals that come to the aid of people there in danger, and it’s the ultimate sacrifice, I suppose.”

“We haven’t even reached the swimming season yet. Unfortunately it’s a timely reminder and warning that you swim between the flags, at patrolled beaches only.”

[email protected] Illawarra duty officer Daren Weidner speaks following this afternoon’s rescue at Wollongong City beach https://t苏州夜场招聘/q4Na0Y9qOApic.twitter苏州夜总会招聘/FMUksh2oz2

— Andrew Pearson (@andrewrpearson) September 10, 2017

Mr Oliver leaves behind a wife and three young children.

He was employed as project manager at a company in Lynbrook, in south-east Melbourne, and was a shopfitter by trade.

​In a Facebook comment, his sister Clare Murray wrote “we are all shattered”.

“My brother… the ultimate hero. We cannot believe this has happened… a loss that will be felt by many,” she wrote.

Mr Oliver’s brother Nathanael has launched a Gofundme campaignaimed at supporting the 32-year-old’s grieving family.

”He was faced with the terrible decision when he heard the cries for help and, without a thought for his own safety, launched himself into the water,” Nathanael Oliver wrote.

His aunt and uncle, Gary and Karen Oliver, said they were“so very proud, and so very sad” at their nephew’s actions.

He attended Chandler High School in Keysborough, graduating in 2002.

School friend Joel Tranquille said: “Hewas a great friend to everyone, you wouldn’t be able to find a single person that would tell you otherwise.”

“It’s never easy when you hear about a friend passing when he is still so young, especially a great bloke like Shaun,” Mr Tranquille said.

Another high school friend, Lisa Pountney, saidMr Oliver “would talk to everyone even socially awkward people”.

“(He)would make you laugh or smile if you were sad, he would always put others before himself, he was a bright and loveable guy,” she said.

His former sporting club, Keysborough Football Netball Club,tweeted: “Devastating news that our former junior and senior player Shaun Oliver drowned trying to save two young children in Woolongong (sic)”.

The emergency unfolded about 4.30pm on Sunday, almost two weeks before patrols at the beach will get underway as part of the 2017/2018 patrol season.

The off-duty paramedic and two children were transported to Wollongong Hospital for assessment, but did no require admission.

Lachlan Pritchard, Surf Life Saving state duty officer, said authorities had issued a hazardous surf warning on Friday, and that conditions had eased by Sunday but were still considered dangerous.

“It can be quite deceiving, the surf conditions,” he said.

“While the waves might not look too big, the undercurrent …is quite strong and that’s what does cause most of the issues. The conditions can sweep you right out.

“If you do get stuck in a rip, we encourage you to raise your hand to signal for help and ride the rip out to the back where there is calmer water and hopefully wait for emergency services to arrive.”

Surf lifesavers are urging swimmers to heed the “no flags, no swim” message, as summer approaches.

Illawarra Mercury with The Age

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Best in the nation: Sydney Uni comes in fourth in world rankings

The University of Sydney has been ranked fourth in the world for graduate employability, coming in ahead of leading institutions such as the Massachusetts Institute of Technology, Cambridge University and the University of Oxford for its effectiveness in “preparing students for the workplace”.
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The University of Melbourne is closely behind with a rank of seven in the latest QS Graduate Employability Rankings, followed by the University of NSW at 36, the University of Queensland at 49 and the University of Technology Sydney at 69.

A total of eight n universities have been listed in the top 100 in the ranking, which was launched in 2015 to look beyond traditional measures such as research strength and academic reputation. Instead, it focuses on students’ chances of finding jobs soon after graduation, institutions’ reputation among global companies and connections with employers, and the achievements of alumni.

It currently ranks the top 500 universities in the world.

Overall, Stanford University was ranked first for graduate employability, followed by the University of California, Los Angeles, Harvard University, the University of Sydney, the Massachusetts Institute of Technology, the University of Cambridge, the University of Melbourne and the University of Oxford.

Martin Juno, lead analyst in the QS intelligence unit, said that Sydney University was the only institution “to achieve at least a top 40 rank in all five metrics considered”.

It was ranked eighth in the world for employer-student connections, 14th for its partnerships with employers and in the top 20 for its graduate employment rate.

“All this makes [Sydney University] one of the most reputed institutions among employers in the world … [it] is clearly [doing] an excellent job in terms of employability, with their employer engagement strategy being top of the class,” Mr Juno said.

He said it was the most successful university in “at producing graduates with highly successful career paths”.

Mr Juno also highlighted the University of Melbourne and UNSW as the two most reputed n institutions among employers.

“Leading institutions present a remarkable aptitude and willingness to successfully engage with a wide range of employers, providing students and [graduates] with an extensive network and, thus, work-placement opportunities,” Mr Juno said.

“This enhanced collaboration with companies and organisations, both domestically and internationally, is usually translated into a higher employer reputation, more successful alumni and a higher employment rate after graduation.”

A number of n universities have performed far better in the graduate employability ranking than the overall QS World University Rankings, which were released in June. The University of Sydney was ranked at 50 in the overall ranking while the University of Melbourne came in at 41.

Mr Juno said that this was mainly due to weaknesses in measures that are excluded from the graduate employability rankings, including research strength and student-to-faculty ratio.

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letters to the editor September 13 2017

DRINK UP: Cathy Morgan argues cigarette price rises affect the poor disproportionately and stand in stark contrast to the inexpensive prices and availability of alcohol. It is time the poor and disadvantaged discovered a voice,there being so many of us in . The latest tobacco price rise won’t stop our poorest people smoking due to its level of addiction.To the wealthy politicians puffing away on their cigs, I hope you choke on them. Are there rehab centre’s in place for addicts?
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No, but Champix has potentially serious side effects and patches just prolong the agony of stopping. I have a major depressive disorder, and if I choose to smoke so be it. I find it interesting that everyone I know who has passed from cancer were non-smokers.

Also interesting is the fact I can buy three casks of wine for the price of a cheap pouch of tobacco. Large amounts of cheap wine can land me in a hospital or police station, with no memory of what, how or why. This is why I don’t drink.

Excessive alcohol causes major damage to lives and property, but obviously that is acceptable. Give us a break, or the new dealers in the neighborhood will be selling tobacco instead of illegal drugs.

There is no evidence that making tobacco unaffordable stops people smoking. It’s just another stab at the poor and vulnerable but we will bleed together. Enough is enough.

Cathy Morgan,Marks PointDON’T BE DEAF TOCAR RISKSSo Jeff Corbettthinks that this Supercar-thingis just a beat-up by Newcastle Eastwhingers (“Precious in the East End”, Herald 9/9). I have today seen the Supercar Noise Management Plan.I quote from the reportsome of their recommendations to affected residents: “Keep doors and windows closed; seal cracks, doors and window frames using commercial or makeshift products. Basic protection measures may include: adhesive sealing strips for door frames and windows, temporary vent seals, under door strip seals or draught stoppers, fill cracks using commercial foam fillers or silicon; remain in back rooms; use hearing protection; leave property during some or all of the race period (optional)”.

There it is, Jeff,in black and white.Supercars thinks that leaving the safety ofyour home could be one of the basic protectionmeasures a resident might take to escape the excessivenoise.That term, “basic protection measure”, is theirs, not mine. Usually a householder repairs to their home during inclement weather, orto escape the heat, to rest, orto enjoy the company of their family and friends. But the organisers of this event suggest that leaving your home might afford theprotection which this event will deprive you of.

Except for the earthquake,I cannot think of any other event which has been staged in the East End where the organisers have suggested that residents leave their homes for their own safety.

Les Brennan,Newcastle EastMORE TO HEAR ON NOISEIf the findings of the independentnoise auditor, chosen by and paid by Supercars, is31 houses affected by illegal noise levels, I believe the tally in real terms would be closer to 310 (“Sound advice: Supercars release the results of city noise audit” Herald, 11/9). It reminds me of the Laman Street fig trees issue, where the only arborists that agreed with Council’s allegation that the trees were dangerous were those paid by Council. And separate offers by premier “O’Farrell and the insurer to pay for a genuine independent third party arborist were rejected without explanation. How about a genuine independent review of Supercars’ noise audit?

How about details of businesses that will have to shut for the three-day race without compensation because of the Workplace Safety Act? How about releasing the opinions of Fire and Safety NSW , who have inspected the exclusion zone, about dealing with fires within the exclusion zone?

And it’s not just about noise: why did 70 local medicos- gerontologists, pediatricians, hearing specialists, GPs, etc, sign a statement of opposition? Perhaps Mr. Warburton knows better than them.

KeithParsons,NewcastlePHILOSOPHY FANS OUTI’m dismayed to hear that classics and philosophy might face the axe at Newcastle university. The idea that studying the humanities doesn’t lead to jobs is a myth. Philosophy and history graduates can be found in all professional walks of life – including as CEOs of some of Silicon Valley’s most successful technology firms. Subjects like these develop critical thinking, reasoning and communication skills – some of the exact “transferable qualities” sought by employers around the world. I benefited enormously – both personally and professionally – from studying the full range of humanities at Newcastle University, and I hope future generations can do the same.

Michael Kachel,Princeton USANAMES NEED TO HARDEN UPThere has been a lot of talk in the papers lately about why crowds are so low at soccer matches , or the “world game” as some refer to it.Just for starters, how do you expect supporters of supposedly skilled supreme athletic teams, to enter an arena in a gladiatorial frame of mind, with banners waving and tribal-like chanting, when they are watching a game between the Jaffasand the Rosebuds?

Surely you can’t be serious.Who would the winner out of this contest play,the Marshmallowsor perhaps the Daffodils?

Eddie Niszczot,ThorntonA REBUTTAL ON PUB TRADEAdz (Short Takes 12/9) missed my point. All residents and families living near a large suburban pub should be extremely concerned about the Delany Hotel’sapplication toincreaselast drinks from midnight to 2am on the most violent nights of week.

This will create a dangerous irresistible precedent given the competitive environment for the other suburban pubs to follow suit – delivering to them more profits,surrounding residents big increases in assaults and undue disturbances in theseneighbourhoods. The time to prevent this is now!

Tony Brown,NewcastleSELLER SHOULD BE AWAREAll of NSW Government power stations where sold off by Liberal Governments to boost their budget bottom lines. Now their Federal counterparts are crying foul when the new owners wish to close these obsolete coal-fired power plants.

If the Federal Energy Minister wishes to drag somebody to Canberra and wave a big stick at them, start with the people who sold these plants in the first place.

Darryl Tuckwell,Eleebana

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Town ‘going nuts’, so locals are escaping to these tiny places

An attention grabbing budget priced property at Newstead sold easily as it was priced at $235,000 and was on 970sq metres and close to the local school. This church conversion at Fryerstown fetched $675,000 when it sold recently.
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In Harcourt, an elegant four bedroom home on an acre is looking for $598,000.

Originally a Victorian home built at Maryborough, the lovely, four bedroom Rosehill farm has been moved several times before landing in Maldon. It’s on the market for $675,000-$695,000

Just as the domino effect of property jostling happens in the capital cities, so it can play out similarly in some of the top sea and tree change townships.

Castlemaine – the artsy hub of the Goldfields region that has been known as “Northcote North” since being colonised by early tree changers and first-home buyers who realised they had to get out of Melbourne to get into the market – continues to maintain such allure that “it’s going nuts!” according to agent Tom Robertson.

The Waller Realty agent says “the amount of enquiry is phenomenal. We’re flat out sales-wise, too. There are no quiet seasons here anymore”.

Fellow agent Brett Waller, of Castlemaine Property Group, laments that “for this time in spring, the amount of stock is well down”.

Most inquirers are coming from Melbourne. “But we’ve also got people moving up from Woodend now because they no longer feel like they’re in the country until they get past Malmsbury.”

With the continuous waves of incoming newbies, even on a cold day, Castlemaine township is rocking.

Photographer Michael Rayner, who moved up last year because in search of affordable property and “a powerful sense of community” embedded within a scene he could relate to, has counted 14 cafes in the commercial hub.


Related: Why Melburnians flock to KynetonRelated: Stawell, a town that won’t quitRelated: What’s the future for Wallan?

“It’s funkster junction,” confirms Robertson.

Yet, in a town where any cute period property in need of renovation is now hard to find, and when they are fixed up can sell for $600,000 to $700,000 – “with quite a few selling for $1 million” – the domino effect is in operation.

The response of some long-term residents who liked it sleepier, has been to move out of the big smoke they believe Castlemaine has become and on to the smaller, cheaper, satellite villages of the district. Here, they can buy a nice house for about $400,000 and either pocket the change or put it into their super.

“They’re escaping,” says Robertson. “Escaping the Melbourne-type prices and moving one town further out.”

This “Castlemaine effect” is bringing into focus the old gold rush towns of Maldon, Harcourt, Fryerstown and Guildford.

History-redolent Maldon, with its film-set red bricks, rusting galvanised iron and streetscapes of arching verandahs is, Waller says, 20 minutes from the transport links of Castlemaine.

“People now settling in Maldon are prepared to travel to Castlemaine to commute to Melbourne (90 minutes by train to Southern Cross Station),” he says.

If their children don’t attend schools in Maldon or Castlemaine, including a Steiner School option, the kids also become commuters, travelling on to reputable colleges in Kyneton, Bendigo or Maryborough.

On granite country and famous for its wines and apples, Harcourt hasn’t much of a commercial centre. But in all the residential breathing space, there are some tidy and affordable homes.

One that is more upmarket than most is a four-bedroom home in Reservoir Road that, on an acre, is looking for $598,000 through Wallers.

“Harcourt is popular because it’s handy to Melbourne, interesting to young families,” says Robertson, “and there’s quite a bit of subdivision talk going on.”

In pretty and scantily populated Fryerstown, 10 kilometres south-west of Castlemaine, Robertson has just sold another top priced “but beautiful church conversion for $675,000”.

At the other end of the price scale and consequently contested by a crowd of interested buyers is an interesting new house built using old materials that Brett Waller has also just sold for $235,000. (Yes, you read that right!) Sited at Newstead, a town midway between Castlemaine and Daylesford.

Also on the way to Daylesford is picturesque, if low-key, Guildford (population 333) where, among a handful of properties on the market, are an almost million dollar, four-bedroom brick house on 20 acres, and a converted train “with a pool and three bedrooms”, adds Robertson.

Speaking of trains, Brett Waller reckons that because Castlemaine and its satellite settlements are now considered viable for daily city commutes, the velocity of the region’s future development will hinge “on what happens next in public transport”.

That, and the domino effect of property jostling.

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David Koch chews on his own boot

Now that Richmond has stopped eating its own, with pleasantly surprising results, a new champion of self-cannibalism has announced itself.
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When Port Adelaide won their first premiership in 2004 coach Mark Williams diverted for a moment in his victory speech to address the owner of the club’s major sponsor, who had said that the Power would never win a flag while Williams was in charge. “Allan Scott,” he roared, “you were wrong!”

OK, so that was just a little self-nibbling around the edges, forgivable in the circumstances.

So let’s turn to a darker hour, Saturday night and the immediate aftermath of Port’s heart-breaking, season-ending, extra-time defeat by West Coast. Speaking to a supporters’ function soon afterwards, chairman David Koch fumed at the players, saying they failed to play with composure and to instructions, were unreliable in big moments and were not all intent on winning premierships. Down the president’s hatch the players went, bite by bite.

Some regurgitation is necessary here. They lacked composure? No more than the chairman who when needed to bite his tongue instead ran off at the mouth (this is getting messy). They did not play to instructions? Yet somehow, they actually were in front when the final, final siren sounded.

They are playing for themselves, not the cause of a Port premiership? Perhaps Port do have their doubts about some on their list. But by naming none, Koch tarred them all. Even as he was speaking, Channel 7 was showing poignant images of shattered and inconsolable Port players collapsing into the arms of family. There was not a hint of the detachment Koch alleged. To infer a chronically indifferent and debilitating attitude from a post-siren defeat is unfair.

Koch noted that Port had fielded a young side, and said the jury was out on that decision, so without even being certain himself if it was strictly all the players fault he smashed them anyway. See lack of composure, above.

On Monday, Koch went for more, saying Port had blown it. Perhaps they did, but first they won it, recovering from six goals behind to lead by two, twice. From there, you might regret poor kicking at goal, or a lax moment at a stoppage, or even what an umpire saw, which was what everyone else saw, live. Coach Ken Hinkley noted all this. That’s footy.

But here’s less palatable truth. In such a close finish, after such a long and gruelling battle, luck plays as big a role as any other factor, perhaps bigger. As in a penalty shoot-out in soccer, random rules. Replayed two dozen times, that last stoppage might have come out two dozen different other ways. It was Luke Shuey’s good luck, and Jared Polec’s bad, that it turned out this way. Even then, Shuey might have missed; how drastically different would the reviews have been then?

It is not something you have or will read much in the retrospectives, which are adjusted and massaged to explain this and only this outcome. Footy people don’t like admitting that any small detail is out of their control, because it diminishes them as controllers. Koch was speaking like a man desperately trying to appear to be in control, and so losing it. But you do have to wonder how shoving this cruel defeat back down the throats of the players will go down with them and Hinkley in the long run.

Koch can bang on all he likes about the wretchedness of the Port players, but the fact is that he was only one breath and one heart-beat away from banging on instead about next week and GWS and onwards and upwards. Generally, Koch has been good for Port, but the best thing he could have done on Saturday night was to shut up.

Koch should know by now that unlike his true area of expertise, footy – thankfully – doesn’t conform to precise formulae. “If you look at successful AFL clubs,” Koch said on Monday, “it’s all based around the stability of the coach, stability of chief executive, and a board, and a leadership group within your playing group.”

Um, Richmond, end of 2016, Kochie?

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Newcastle buses: Sonia Hornery takes Keolis Downer issue to Parliament

Keolis Downer blamed technical issues for underpaying bus drivers.WALLSEND MP Sonia Hornery has pledged to take dropped Newcastle bus services to Parliament in a bid to fix the problem.
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The Newcastle Herald has reported more than 300 services have been cancelled in the last 10 weeks across the network operated by Keolis Downer since July.

Driver payment has also been an ongoing problem, with Transport Minister Andrew Constance putting the operator on notice after one driver said the problems meant “morale is at an all-time low”.

Ms Hornery urged to government to intervene.

“The trips heading to the far reaches of the Wallsend electorate are the first to be cancelled, despite being some of the busiest services in Newcastle, leaving commuters with very expensive taxi rides to be able to get to work or class on time,” Ms Hornery said.

“Despite raising these concerns directly with the company, they have not responded to any of my emails or letters on behalf of constituents.”

FIX IT: Transport Minister Andrew Constance demanded Keolis Downer fix Newcastle payroll issues urgently.

“And to make matters worse, in all of the media reports on radio and in newspapers, the company has not once apologised to the customers that it left stranded.”

The Rail, Transport and Bus Union has previously revealed it had taken Keolis Downer to the Fair Work Commission over the payroll issues.

Keolis Downer chief executive Campbell Mason previously said the underpayments were caused by “issues associated with the migration of data between rostering and payroll systems”.

“An eight person taskforce is working to address the issues which have caused these errors,” he added.

“Our staff are the key to the effective delivery of services to the Newcastle community. We are growing our pool of drivers to deliver a more resilient operation.”

He has said the company is working to recruit more drivers to avoid shortfalls.

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Why Stuart gave up his corporate life to run a naturist retreat

When executive Stuart Whelan first decided to visit a nudist beach, he didn’t tell his wife. But she had suspicions he’d been up to something.
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“When I got home she looked at me and said ‘Where have you been? You’re just beaming'”, he says. “I’d always planned to tell her, and she said ‘Wow ??? I’ve got to have some of that.'”

Thus began a journey that led Whelan, in his early 50s at the time, and his wife, from their corporate life in Sydney to owning and operating a naturist retreat in Nelsons Bay. For Whelan, getting naked in nature was “transformational”.

“I realised that I was experiencing the environment in a way that I hadn’t experienced before. I was looking out over the harbour??? and the bushland. I really felt connected with it,” Whelan, now 60, says. He also felt the stress of corporate life melt away. “I felt immediately at peace. It was like peeling off vestiges of my workaday world and just allowing me to be who I am.”

Self-acceptance is at the heart of naturism, acting as an antidote to the common messages about what an acceptable body looks like. “All those things get washed away,” Whelan says. “I’ve felt a lot more comfortable and confident in myself being a naturist than I was before.”

And naturism is about much more than getting your gear off. Whelan explains that going clothes-free is part of a holistic lifestyle embracing respect for self, respect for others, and respect for the environment.

Following these philosophies helps strip away the judgmental attitudes encouraged by contemporary living. “In a naturist setting ??? we do away with so much of the ‘otherness’ of another person,” Whelan says. “There was a chap who was resplendent in multiple tattoos and beard who, if you saw him in his biker leathers, you would treat with some trepidation. On the beach, he was just someone who was enjoying the day with the ocean and the sand just like everybody else.”

This removal of indicators of status encourages conversation with people from all walks of life. On a textile (clothed) beach you’d be unlikely to speak to anyone, at a nude beach people interact freely. Related: What I learnt living next to a nudist colonyRelated: The woman who lives in a train carriageRelated: I made a sea-change at 25

“When you go down to a nude beach people are much more open to ??? discussion; they’re just a friendly group. We’ve met some very interesting and long-term friends from our time at Cobblers Beach in Sydney.”

And if you’re thinking that the friends made at nude beaches come with “benefits”, you’re way off. Whelan says that naturism is not about sexuality, but sensuality: feeling the breeze on your skin and the sun on your back. He explains that nudity has been falsely sexualised and there’s a big difference between being naked and cavorting on stage as a strip-tease artist.

“As far as seeing the opposite sex is concerned, there’s no titillation … It’s all there,” Whelan says. “People that are new to the lifestyle say that they feel that they’re speaking more to the person because they’re making eye-contact. And it’s not because ??? I don’t want to look at their naked body. You forget you’re naked. You’re comfortable in your own skin.”

For 48-year-old Jenni Parry, becoming comfortable in her own skin has been the best thing about going naturist. “I’m a bigger girl???I have boobs, I have a bum and I have a belly,” she says. “I can look at myself in the mirror … and say ‘you’re good, I like you’. I just love what I look like.”

Unlike Whelan, Parry, from Queensland’s Sunshine Coast, grew up with nudity. On the family farm, skinny-dipping was the norm. She always loved the feel of sun on her skin, but it was only six years ago when a friend suggested attending a naturist weekend that she took nudity to the next level.

Since then, Parry hasn’t looked back. Her fears slipped away as she was welcomed by the community. “It’s the most inclusive and relaxing group of people I’ve ever come across. People I met that day are still some of my closest friends,” she says.

Parry agrees with Whelan that one of the greatest things about naturism is the lack of judgment. “Nobody asked me where I worked, how old I was, what I did for a living,” she says. “There are people who are millionaires, and to look at them you’d never know.”

And Parry reiterates that naturism is not about sex. “You wouldn’t do anything at a nudist retreat that you wouldn’t do at a normal caravan park,” she says. “If someone said ‘can you name the people at the camp ground with the five biggest appendages’, I’d say ‘no. I can name the person with the best laugh … and who cooks the best.'”

Whelan reiterates how enjoyable the naturist lifestyle can be, “I think it’s something that more people should try because it is such a liberating experience. [It] makes you appreciate what being human is truly about.”

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Billie Jean King hits out at Margaret Court comments

Openly gay tennis champion Billie Jean King has spoken out against Margaret Court for not supporting the LGBT community in .
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At the Toronto Film Festival for the premiere of Battle of the Sexes – the film about the famous 1973 tennis match between King (Emma Stone) and former men’s champ Bobby Riggs (Steve Carell) – the 73-year-old marriage equality advocate admitted she was disappointed with Court’s recent comments.

“Margaret and I always sat together at lunch when we were at the same events but we got along in a very superficial way,” she says.

“I would love to talk to Margaret, and I think probably now I need to talk to her about what she’s saying. But she’s a Pentecostal minister with her own congregation so I don’t think it will help much or that she will change or adapt in any way.”

Billie Jean King and Emma Stone at the US Open. Photo: ADAM HUNGER

Formerly the No. 1 player in the world with 39 grand slam titles, King also admits she has mixed feelings about her colleague’s name remaining on Melbourne’s Margaret Court Arena.

“It’s a shame because I really promoted getting that court named after her and I wanted her and Rod Laver to have the same court,” she recalls.

“The Aussies were furious at me for even bringing it up but I strongly felt she deserved it because she got 64 grand slams which is more than anybody else to this day. Now I have questions about it, because of how she’s come out against the LBGT community and against marriage equality.”

“Everyone has a right to state their opinion,” King adds, “but I also grew up as a Christian and I was a very religious young girl and always remember reading ‘judge not that ye be judged’ – that one always jumped off the page for me. Sadly, you can take any page in the Bible and use it your own way and she takes some other parts. If Jesus Christ was here, I think he’d agree that kindness and generosity and difference of opinion is OK.”

The film takes place in the wake of the sexual revolution and the rise of the women’s movement, when more than 90 million viewers watched Billie Jean King face off against Bobby Riggs in the match billed as the ‘Battle of the Sexes’, one of the most watched televised sports events of all time. King talks excitedly about getting to know Oscar-winning La La Land star Emma Stone, who plays her in the film.

“We went to the US Open together last Saturday and had a great day so we are still hanging out,” she says.

“It’s a 23,000-people stadium and she had to go out and speak and when she walked through the tunnel and saw it, she was blown away realising how many people watched us play. She said she’d never had that many people watch her in one place, not even the theatre, so she’s very sweet and really special.”

Battle of the Sexes opens in cinemas on September 28.

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Tax time 2017: ATO vague on small business tax cuts

ATO taxation tax cuts reform reforms system scissors generic photo illustrationTax Office Cutiing Cash . Illustration Karl Hilzinger . 16th February 2011 . For AFR Special Reports .(NO CAPTION INFORMATION PROVIDED)Accountants want the tax office to clearly define which businesses will be eligible for company tax cuts under the Turnbull government’s signature tax policy, but to avoid potential hot water, the tax man is remaining ambiguous.
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The n Taxation Office (ATO) has started processing small business company tax returns at the 27.5 per cent tax rate, but warns that businesses who are still using the higher 30 per cent rate need to seek an amendment themselves as the agency will not automatically do it.

This is because there’s still uncertainty about who is “carrying on a business”.

In July, Revenue and Financial Services Minister Kelly O’Dwyer promptly issued a media release that indicated the government may change the law to deny tax cuts to companies making money from passive investments, after media headlines that discretionary trusts may be eligible. Ruling interpretation ‘premature’

This came after an earlier ATO ruling expanded the range of companies eligible for tax cuts under the the Turnbull government’s Enterprise Tax Plan, which aims to over time reduce the corporate tax rate for all companies from 30 per cent to 25 per cent.

Ms O’Dwyer said the ATO ruling was in draft form and it was “premature” to suggest eligibility for lower rates had been broadened.

She said the government’s policy intent in relation to the reduction was to ease the burden on small and medium businesses, and “was not meant to apply to passive investment companies”.

She added that: “If any further direction is required on the government’s policy intention by the ATO it will be provided by the government.”

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For the 2016-17 tax year the company tax rate is being reduced from 28.5 per cent to 27.5 per cent for small business entities with turnover of less than $10 million (which is an increase from the $2 million threshold in previous years). This will also impact franking credits.

The problem is, the onus is on businesses (or their tax advisers) to know whether they are eligible for a tax cut. The ATO says on its website that where a company has lodged their 2016-17 tax return using the 30 per cent tax rate, and believe they are entitled to the 27.5 per cent tax rate, “they should seek an amendment as we are unable to accurately identify these taxpayers”.

It says this is because “it is not possible to definitively state whether a particular company is carrying on a business”.

“This is always question of fact,” the ATO states. “While most companies will carry on a business in a general sense, this does not mean that every gain made by a company will be ordinary income and assessable.” Accountants worried

But Chartered Accountants tax leader Michael Croker said that since the ATO had not yet stated what criteria they will be using to judge whether a business is eligible, it would create a compliance nightmare.

“It can create churn … if an agent’s professional judgment proves incorrect,” he said.

“The lack of clarity is around passive investment companies – where there’s no shopfront or employees, no registered business name; it’s just a mum and dad company with investments in listed shares, a rental property and bonds.

“There’s potential for the ATO to adopt a different position to the taxpayer and/or for the government, if they disagree with the ATO, to come up with a legislative solution.” Small business tax debts

The tax man is also disclosing small business tax debt information to credit reporting agencies. The ATO has a debt book of about $20 billion, the majority of which is made up of small and medium business debts.

In a recent speech to the Queensland Tax Forum ATO Second Commissioner Andrew Mills said the ATO will have discretion to disclose tax debt information to credit reference agencies.

“The measure does not oblige us to disclose this information,” he said.

“The ATO understands that from time to time taxpayers have cash flow issues and works with them to repay debts, for example, by using payment arrangements.” ATO to work with credit agencies

Debts will only be reported in cases where the tax debt is over $10,000 and has remained unpaid for over 90 days, and the debt is not in dispute.

That is, if “a taxpayer remains disengaged after the ATO has pursued normal debt collection procedures to collect an overdue debt,” Commissioner Mills said.

“Debts that are genuinely in dispute will not be reported nor will debts under payment arrangements,” he said. “Taxpayers who are working with us to resolve their debt will not have it reported.”

The ATO will also notify a business in writing that it intends to refer its tax debt to a credit bureau before that information is passed on, he said. It will also establish agreements with credit reporting bureaus to manage the reporting and administration of tax debt information.

A number of overseas jurisdictions such as New Zealand, Britain, Ireland, Norway and Finland are publishing tax debt information on a public register or sharing it with credit bureaus, he said.

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