Sunday, May 17, 2009

Brulines seeks legal advice over BEC report

The pubco poodles are all in it (Deep Doo Doo Denial) together with the pubcos. As favour slides away from them like slime down a plughole they are frantically trying their best to arrest damage while unerringly managing to upset more and more observers of the trade by shooting from the hip with ill judged defensive whining about their plight. Here are a few quotes from the weekend's news:

Brulines' James Dickson quipped in the Daily Mail: "they [MPs} are very lucky to have that [parliamentary privilege] after writing this trash,' he said. 'But I take heart from the fact that very little credibility will be given to them, given the current furore over their expenses.'

In the same paper Ted Tuppen's says: 'Without parliamentary privilege, we would be considering action.'

In the Telegraph giles Thorley, obviously inspired by Tuppen's "MPs are morons" aside last year branded the BEC report as: the findings of a "kangaroo court".

Hmmmm. These reactions to the BEC report - elswhere and here regarded as a tour de force of accuracy and fairness - are the whimpers of self confident, omnipotent people who are used to always getting their way but who rightly sense their days of hay making are up.

As market analysts are pointing out, if the tie is removed, pubcos' income will be only from open market rent - you know, like a property company - the knock on would affect their ability to service their nut squeezing levels of debt.

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