Further to my IMF long idea.
As at 17 August 2008, I note unusual activity in the stock with lots of off-market trades. The market is still waiting for confirmation by IMF of the Aristocrat setlement.
On the business front, the Federal Government has paid $50 m to Jim Selim, former CEO of Pan Pharm, in settlement of a lawsuit where Selim is alleging that the TGA wrongfully cancelled Pan Pharm's license. Readers should note that the pulling of this license probably caused the liquidation of Pan Pharm, which had a market cap of about $250 m. It also resulted in the loss of 400 jobs, plus a whole lot of losses to suppliers and customers.
I am waiting for news of massive class actions being launched against the Federal Govt, and inevitably, some of this will be funded by IMF.
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