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Mildura Flying School? Oh Dear!

Old 6th Mar 2020, 21:23
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Mildura Flying School? Oh Dear!

Why am I not surprised? We have seen this crap regularly since at least 1985. There are any number of “deals” doing the rounds all the time and the only protection is very extensive due diligence.’’

Professor Hamilton said property developments, tourism projects and retirement homes were among projects across Australia that had attracted investment from questionable sources, which typically came under the threshold for scrutiny by the Foreign Investment Review Board.

"And yet once some money is dangled in front of local councils, they tend to forget their obligation to due diligence and grab it, and that seems to be the case with the pilot training school," he said.

To secure federal funding for the ILS, the Mildura council contributed $1 million of ratepayers' money, as did the council-owned Mildura Airport Pty Ltd.

'We could have looked deeper'

Cr Modica said councillors received "a lot of information" about the flight academy when it was proposed.

He said the business case "suggested that the pilot school was a good idea", but that "on reflection, could've been looked into a lot more".

"I would hope that Mildura Rural City Council and Mildura Airport would go through a very rigorous scenario looking at who owns the pilot school, how it's funded, and making sure it is a secure organisation," he said.

Professor Hamilton acknowledged it was difficult for local councils which lacked resources or the "knowledge of where to go and look" to investigate sources of investment.

"But because local councils in regional areas tend to be cash-strapped and tend to be grateful for any kind of investment that comes into regional areas, they tend to not want to know about any downsides," he said.
https://www.abc.net.au/news/2020-03-...loans/12032616

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Old 6th Mar 2020, 22:31
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Anything with Mainlander Chinese involvement,
BUYER BEWARE!
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Old 6th Mar 2020, 22:53
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I’m pleased someone is investing in YMIA.
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Old 6th Mar 2020, 23:32
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Hey it's Australia, one of the most disfunctional at all levels corrupt nations on the planet! Nothing new here please move on!
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Old 7th Mar 2020, 00:56
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Why is local Government investing in private enterprise?
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Old 7th Mar 2020, 02:15
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Probably for the same reason that so much money was poured in the Australian Flight Instructor Training School in Northam, half in mil in Royalties for Regions and apparently a huge grant from the local shire, resulting in two dongers, four light sport aeroplanes under a canvas awning and never turned a single prop.

Greed and stupidity at all levels of government leading to wastage of public money.

https://www.parliament.wa.gov.au/Hansard%5Chansard.nsf/0/8797469cdba89ab148257aa0002ca0fc/$FILE/A38%20S1%2020090820%20p6287a-6287a.pdf
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Old 7th Mar 2020, 05:39
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All sounds suspiciously like the sports rorts debacle. Governments throwing money around on the basis of big talk.

Don't dare question their motives or methodologies.
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Old 7th Mar 2020, 21:30
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Airports rorts.

Originally Posted by chimbu warrior View Post
All sounds suspiciously like the sports rorts debacle. Governments throwing money around on the basis of big talk.

Don't dare question their motives or methodologies.
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Old 8th Mar 2020, 00:05
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So what have I missed? Regrets seem to have surfaced, but why, what has gone wrong?
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Old 8th Mar 2020, 07:01
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If a flying business in Australia is Chinese or Indian owned there is a high probability of it being dodgy.

Some people may consider the above statement a racist generalisation but I don’t care. This is the truth and I am speaking from bitter experience.

Shut them down now recover the money by seizing all assets.
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Old 13th Mar 2020, 01:50
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I hear they are well behind in paying their bills. Cash flow problems apparently.
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Old 13th Mar 2020, 02:28
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Snoop Doggy dog appears to have said it all.
Such wisdom.
Foreign investment, business migration, real estate.
When will Australians learn?
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Old 13th Mar 2020, 04:14
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It’s not just the Chinese. There is a type of character called politely an “entrepreneur” or more unkindly a confidence man. These guys have no money, no ethics but can spin a good yarn.

Their plan is always the same: to use your time, money and other resources to construct and execute a deal of some sort. The plan always being that if they can make it happen, they will get a small percentage of the project.

Examples:

‘’The Turkish gentleman who claimed to have a big woollen textile business in Turkey. He wanted to establish a huge new wool scouring plant in Geelong. It would employ thousands of locals.

He wanted some council land and a grant from the state government. The council paid for his accommodation in Geelong for a year while he put the deal together.

Despite my warnings the deal went ahead - only to fail when he refused to submit his turkish audited accounts to the group of Victorian auditors who were the final line of defence against fraud. There was no Turkish “woollen textile business”.

‘’More examples on request.
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Old 13th Mar 2020, 06:06
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Originally Posted by LexAir View Post
I hear they are well behind in paying their bills. Cash flow problems apparently.
How would you know?
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Old 13th Mar 2020, 07:08
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I do hope the good ratepayers of both Mildura and Northam, find out the total loss cost bought about by the Councils decision. Then divide that amount by the number of rate payers for a figure to deduct from the next lot of rates. Let the Council suffer for its financial idiocy...NOT the hapless ratepayers.
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Old 13th Mar 2020, 08:05
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Originally Posted by aroa View Post
Let the Council suffer for its financial idiocy...NOT the hapless ratepayers.
You do get they're one and the same yeah?

Local governments from all over the country provide incentives for foreign investment. Gold coast with movie production, Melbourne with the F1, Sydney with the 2000 Olympics just to name a few of the more well known. Like all investments, some work out, some are a bust. If Chinese companies pass the foreign investment bureaus test, why should we be treating them any less then any other investor?

And for those that think only Australian investors can be trusted .. we've had our fair share of scam mongers peddling their crap here. They've all got the oxygen tubes stashed away in Italy or somewhere in preparation...

I doubts there's many Australian investors that want to risk it all in GA, just ask for Dicks advice on that...
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Old 13th Mar 2020, 13:01
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Local councils have NFI. they should not dabble in this area without expert financial advice. If it sounds to good to be true, it isn’t.
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Old 13th Mar 2020, 13:05
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Why shouldn't government invest in infrastructure to attract business investment into a town? I thought that's what you paid politicians to do? You guys really are under the users pays spell aren't you.

Having said that, I would have thought that government would do a little research into who they're investing in?
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Old 13th Mar 2020, 20:33
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Originally Posted by Hoosten View Post
Why shouldn't government invest in infrastructure to attract business investment into a town? I thought that's what you paid politicians to do? You guys really are under the users pays spell aren't you.

Having said that, I would have thought that government would do a little research into who they're investing in?
‘I think so too. The trouble is that some politicians are gullible.
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Old 13th Mar 2020, 23:58
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"I think so too. The trouble is that some politicians are gullible."

Yup, blinded by $$$ signs and what's in it for me.

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