#Broadspectrum is finished

On Thursday, April 28 2016, Broadspectrum (BRS) requested that trading in its shares on the Australian Stock Exchange (ASX) be halted pending the release of a statement by BRS.

According to the most recent report, Ferrovial is extending its takeover offer until May 13, as it aims to get at least 90% of buy-offers accepted by that date and will, upon doing so, de-list Broadspectrum from the ASX.

Continue reading “#Broadspectrum is finished”

#Broadspectrum is finished

REST Super: Major Shareholder In Manus and Nauru Detention. #Broadspectrum #RESTdivest

REST, the superannuation fund for workers in retail, warehousing and the fast-food industry, is a major shareholder in Transfield Services Broadspectrum.  According to Broadspectrum’s 2015 Annual Report, REST has just under 25 million shares Continue reading “REST Super: Major Shareholder In Manus and Nauru Detention. #Broadspectrum #RESTdivest”

REST Super: Major Shareholder In Manus and Nauru Detention. #Broadspectrum #RESTdivest

Transfield Lobbies Australian Council of Superannuation Investors (ACSI) To Stem Divestments

AllanGrayAllan Gray is Transfield Services’ largest investor, with a stake close to $100 million, as reported three days ago. That figure wiil have diminished recently, with the decline in Transfield Services’ shareprice. Allan Gray is a global investment fund that originated in South Africa and is presently registered in Bermuda. It is also the second-largest shareholder of Fairfax Media. It is part of the Orbis Group.

With the recent divestments by the superannuation funds HESTA and NGS Super, Transfield Services has been under scrutiny from the Australian Council of Superannuation Investors (ACSI). Continue reading “Transfield Lobbies Australian Council of Superannuation Investors (ACSI) To Stem Divestments”

Transfield Lobbies Australian Council of Superannuation Investors (ACSI) To Stem Divestments

How Managed Is The Conversation On #UniSuper?

Bernard Mees, a member of the Consultative Committee of UniSuper, recently published an article in The Conversation.

Here are two comments on that article: Continue reading “How Managed Is The Conversation On #UniSuper?”

How Managed Is The Conversation On #UniSuper?

Four Things You Should Know About #HESTAdivest #NauruInquiry #Transfield #UniSuper

On August 17th, Transfield Services (TSE) issued a statement to the Australian Stock Exchange (ASX). This statement was not a media release but a compliance report in line with stipulations of the Corporations Act and ASX governance rules.

On August 18th, the sixth-largest superannuation fund in Australia (HESTA) announced that it was divesting from Transfield Services. This follows similar announcements by at least two smaller funds in the previous two years. Continue reading “Four Things You Should Know About #HESTAdivest #NauruInquiry #Transfield #UniSuper”

Four Things You Should Know About #HESTAdivest #NauruInquiry #Transfield #UniSuper

Australian Financial Review Loses Its Mind Over #HESTADivest. Why would that be?

Less than a day after HESTA announced that it would divest its holdings in Transfield Services, the Australian Financial Review has run an editorial critical of that move. [here] Continue reading “Australian Financial Review Loses Its Mind Over #HESTADivest. Why would that be?”

Australian Financial Review Loses Its Mind Over #HESTADivest. Why would that be?

Warning: #Transfield, the Detention Industry Are In the Contract Spin-Cycle

Transfield’s $1.2 billion contract to run the detention centres on Manus and Nauru is set to expire on October 31st 2015.

As a consequence, there is a great deal of maneuvering going on, most of it behind the scenes. Let’s be clear: for Transfield and rival bids, the stakes are billions of dollars in contracts — not people’s lives.

There are two things that arise as a result of the contract tender process: Continue reading “Warning: #Transfield, the Detention Industry Are In the Contract Spin-Cycle”

Warning: #Transfield, the Detention Industry Are In the Contract Spin-Cycle

ANMF Delegates Conference (Vic) calls for divestment of Super Funds from detention industry

This is the text of the motion passed by the Australian Nursing & Midwifery Federation (Victorian Branch) Delegates’ Conference yesterday:

That this conference request ANMF (Vic Branch) to lobby First State Super and HESTA superannuation funds to divest themselves of investments in organisations whose business interests directly or indirectly breach the human rights of those seeking asylum.

via Tara Nipe. Well done!

ANMF Delegates Conference (Vic) calls for divestment of Super Funds from detention industry

“People-smugglers’ business-model” – Watch for concern-trolls. #OnWaterGate

[Update: the occasion for running this article were allegations that the LNP Government had paid people-smugglers to turn boats around, in effect outbidding those on vessels and forcing them back. The subsequent campaign by the ALP (and people who may not have known better) to present this as an activity exclusive to the LNP has just come apart, with revelations that the practice has been going on for around four years, during the terms of both Labor and LNP governments. See here. So, to repeat the point: we do not support the LNP-ALP contest over who is “tougher” on “people-smugglers,” but we are disappointed by many of those who were swept up in the ALP’s attempt to score political points by claiming they are better at “smashing the people-smugglers’ business model.” We call bullshit on this rank piece of propaganda.)

The phrase “people-smugglers’ business-model” is an exercise in concern-trolling.

Firstly, the phrase was invented in Australia at a time when successive governments were engaged in transferring increasing amounts of money to the (wholly privatised) mandatory detention industry and the Navy’s patrol and interdiction of unauthorised boat arrivals. Transfield and Serco are the largest corporations involved in both, including various multi-million dollar contracts with Defense. One of the first mentions in official statements was Rudd‘s remark during a radio interview in 2009: “People smugglers are engaged in the world’s most evil trade and they should all rot in jail, because they represent the absolute scum of the earth.” The phrase was an invention of Labor Governments, just as mandatory detention was introduced by a Labor Government some twenty years ago. In the last ten years, the expenditure on detention and repulsion has exceeded $10 billion – a figure that completely overshadows the amounts paid by people to those who own fishing vessels.

wadsofcash_TSE

Secondly, anti-“people-smuggling” campaigns are exercises in concern-trolling. They manipulate genuine concerns for those who are exploited into practical support for measures that are directed against those same people. There is no way to distinguish between those who steer the boats and those who travel on them, but the sleight of hand is important because it transfers the explicitly racist demonisation of asylum seekers to “people-smugglers,” and politicians can pretend they’re not whipping up a racist frenzy, while in practice the consequences are much the same. Moreover, the focus on “people-smugglers” echoes the language of conservative campaigns against “sex-trafficking” and “slave-trafficking” undertaken by (often Christian conservative) NGOs in Europe – hence its being taken up by Rudd. In Europe, there is also a strong critique of this position, often called the White Saviour Industrial Complex. The focus on “anti-trafficking” enables a sleight-of-hand through which campaigns against sexworkers, and migrant sexworkers in particular are re-spun as campaigns against those who “traffick,” and measures that are directed against migrant (sex) workers are repackaged as if they are ‘for their own good.’ The point is not that there aren’t traffickers who profit from desperation, the point is that the rhetoric of anti-trafficking campaigns often serves to obscure the fact that it is the migrant (sex) workers who suffer most as a result of those campaigns (not least by being deported, forced to go into hiding, or worse). Anti-trafficking campaigns do not make distinctions between people who voluntarily pay people-smugglers to take them somewhere, and traffickers who force them to go somewhere. That difference should be the one that really matters.

Thirdly, “people-smuggling” is a creation of prohibition. If there were safe and legal routes, people would take them. The effective criminalisation of people movements creates people-smuggling. There’s only one sure way to “smash the people-smuggling business model,” if that is indeed the objective: open the borders. Anything short of this in reality can only ever be a debate about who’ll be paid and how much to stop people from moving: Transfield, Serco, the Navy, NGOs, people who own some unsafe fishing boats?

“People-smugglers’ business-model” – Watch for concern-trolls. #OnWaterGate