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NBN board purge
Topic Started: 24 Sep 2013, 06:54 AM (858 Views)
Black Panther
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NBN rollout delay behind board purge

BALLOONING costs and further serious delays in the National Broadband Network rollout prompted Malcolm Turnbull's decision to demand the resignation of the entire NBN board and seek the installation of Ziggy Switkowski as executive chairman.

The Communications Minister will ask federal cabinet to endorse the former Telstra and Optus chief as the NBN Co executive chairman after discovering the $37.4 billion project faces a deteriorating financial position and will miss its rollout target for June next year by more than half a million premises.

Contrary to media reports yesterday that the NBN Co directors offered their resignations, Mr Turnbull initiated the dramatic action against the board soon after being sworn in as minister.
:lol

The Australian has learned that Mr Turnbull told the NBN Co chairwoman, Siobhan McKenna, on Thursday that he wanted the board members' resignations. All but one -- former investment banker Brad Orgill -- complied. It is understood only two of the existing board will be retained by Mr Turnbull.

The NBN Co's revised business plan, which Mr Turnbull criticised Labor for sitting on before the election, is understood to show the company received revenues in the 2012-13 financial year of $17 million -- slightly below earlier forecasts.

This compares to rising operating expenses, excluding all network construction costs and payments to Telstra and Optus, of $712m.

The operating costs have jumped from $500m the previous year and are forecast to hit $1.07bn this year -- representing a doubling over three years.

It is understood the NBN rollout will fall significantly short of its target set in August last year to run fibre past 1.31 million premises by the end of this financial year. The number of existing premises to be passed is now believed to be as low as 600,000.

It is expected Mr Turnbull will reject the business plan and order the new board to oversee a redraft.

He is likely to publicly release the existing business plan, although a spokesman would not confirm its release or speculate about the timing.

It is understood that Mr Turnbull told Ms McKenna last week he would not necessarily accept all of the directors' resignations but wanted "maximum flexibility" as he looked to reshape the board.

- See more at: http://www.theaustralian.com.au/business/in-depth/nbn-rollout-delay-behind-board-purge/story-e6frgaif-1226725623661#sthash.ubgbEbLq.dpuf
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stinkbug
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http://australianpropertyforum.com/topic/9960921/1/#new
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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themoops
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Shameful. Look at what you've become!

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stinkbug omosessuale


Frank Castle is a liar and a criminal. He will often deliberately take people out of context and use straw man arguments.
Frank finally and unintentionally gives it up and admits he got where he is, primarily via dumb luck!
See here
Property will be 50-70% off by 2016.
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genX
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Every cloud has a silver lining. I am sure hundreds of thousands of Public Servants will sleep better at night knowing that the incompetent fuckwit Ziggy Switkowski is no longer going to run their superannuation savings into oblivion. In a way he is a perfect candidate for the new government's NBN agenda as he destroys anything he comes in contact with. Like the Midas touch except substitute shit for gold.
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stinkbug
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genX
24 Sep 2013, 09:29 PM
Every cloud has a silver lining.
I think you'll find the silver bit is John Gotti's hair.
---------------------------------------------------------------

While it's true that those who win never quit, and those who quit never win, those who never win and never quit are idiots.

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Elastic
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I'm sure it's just a case of jobs for the boys. You could probably put a troupe of monkeys in these NBN board positions and no one would notice except for the monkeys and their bulging bank accounts.
God knows how much it is costing to ditch these board members and get another set.
Only a rat can win a rat race.

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Pig Iron
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Bogan scum

genX
24 Sep 2013, 09:29 PM
Every cloud has a silver lining. I am sure hundreds of thousands of Public Servants will sleep better at night knowing that the incompetent fuckwit Ziggy Switkowski is no longer going to run their superannuation savings into oblivion. In a way he is a perfect candidate for the new government's NBN agenda as he destroys anything he comes in contact with. Like the Midas touch except substitute shit for gold.
i don't agree with much you say but i do on this.
ziggy is the fucking grim reaper of business. turnbull should just shit can it now instead of paying this cocksucker money to kill it.
I am the love child of Tony Abbott and Pauline Hanson
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goldbug
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Read between the lines :re: Who appointed the outgoing board? The Labour government, ie: jobs for their mates. Now Liberal is in power it's jobs for their mates so don't expect much change in what happens to the project. Watch all the important ambassadorial posts change hands over the next year too as old party hacks get rewarded.
Pig Iron
25 Sep 2013, 07:46 PM
i don't agree with much you say but i do on this.
You don't agree with much anyone says pigiron, it's your distinguishing characteristic.
Edited by goldbug, 26 Sep 2013, 08:52 AM.
Shadow was hopelessly wrong about the Gold Bull Market.
What else is he wrong about?
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Pig Iron
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Bogan scum

goldbug
26 Sep 2013, 08:50 AM

You don't agree with much anyone says pigiron, it's your distinguishing characteristic.
you could try getting something right. then i would.
I am the love child of Tony Abbott and Pauline Hanson
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