RT News

Tuesday, April 21, 2015

SA govt bankrolls $1 billion building in 1990, sells today for $288m. #youknowitmakessense #saparli

SA TAB Sale Monday 20 August 2001 6:48AM The fat cat consultants pocketing millions, as yet another piece of public silverware is sold. It's become a very familiar story over the past decade or so. This time, it's the South Australian TAB that's just been bought by TAB Queensland. It's certainly been a painful four years for the State's racing industry, as the South Australian Government has wrestled with the sale. And it didn't help that last week's price was less than half of some early forecasts.....Or that the consultants to the sale were paid $7 million - including a $543,000 "success fee". South Australian Premier John Olsen was noticeably absent from last week's announcement of the sale - by Government Enterprises Minister, Michael Armitage. Unions and the Labor Opposition immediately called for Dr Armitage to be sacked. And as details of the secret negotiations and the final deal emerge, doubts are surfacing about the long-term future of racing in South Australia - and perhaps the Olsen Government. We speak to owner/breeder Joe Cannizaro - a former vice-chair of the South Australian Jockey Club. SA govt bankrolls $1 billion building in 1990, sells today for $288m. #youknowitmakessense #saparli @chriskkenny Primary objective of real estate was maintain value of property or increase value & Myer Centre wasn't worth original price tag @chriskkenny did you have anything to do with Howard's Darwin to Alice Springs railway perchance? Cost $500m, sold to the Yanks for a song

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