Wednesday, 26 May 2010

Blue Mountains. Selling properties considered

Blue Mountains Council, which lost $580,000 buying into Icelandic banks in 2007-08, wants to raise rates 7 per cent and is considering reports to sell shops at Lawson, according to The Sydney Morning Herald, which said financially troubled councils across the state were applying for rate rises while voting to sell off community assets to pay the bills.

Auburn. Cumberland Industries court hearing

Dr Stephen Trealor, the former chief executive and director, of Cumberland Industries, which was based at Auburn and had facilities across Western Sydney, said in court that the organisation, which received $6 million a year in federal funds, to help employ 600 disabled people, should not be judged on the same measure of insolvency as other companies because it could ask the government for more help. Cumberland owed the bank $15.5 million and had been overstating its financial position by an estimated $2 million when it was placed into voluntary administration last May. It still owes unsecured creditors $4.5 million. Liquidator Peter Hedge, said Dr Treloar made the wrong decision in placing the company into administration and should have adopted a two-week recovery plan he had proposed. Jarrod White, for the liquidator, said Cumberland had not kept accurate records for at least two years. Dr Treloar told the court he now lectures in business law at the University of Notre Dame Proceedings ended yesterday


Norwest. Wattyl $110 million takeover bid

US paint giant, Valspar, proposes a $110 million takeover of Australian icon, Wattyl, based at Norwest Business Park. Wattyl is number two in the local market after Dulux and above Taubmans and new arrival Nippon Paints.. Wattyl is recovering from losses in 2008. The company, which had to shed 14 per cent of its staff after the global financial crisis, reported net earnings of $2.4 million in the half year to December 2009.


Region. UWS call centre first in NSW

The University of Western Sydney's call centre has topped the state according to performance monitoring company, Customer Service Benchmarking Australia, which assesses UWS every quarter, comparing it to other tertiary institutions, as well as call centres in almost 200 large Australian businesses across different sectors, including banks, airlines, telcos and utilities. The UWS Contact Service Centre (CSC) was ranked first in NSW and sixth nationally which placed it in the top 3 per cent, across all sectors. CSC staff achieved an average connect time of 18 seconds, which is 30 seconds better than the sector average.


Region. Comments sought on plan

The NSW Government is seeking comments on a plan to protect nationally significant environmental lands while ensuring new homes can be built in Sydney’s North West and South West Growth Centres, which will accommodate around 500,000 people over the next 30 years. The Minister for Planning, Tony Kelly, said the growth areas contained areas of high environmental value which needed to be secured.


Auburn. Tutt Bryant expands

Crane and equipment hire firm, Tutt Bryant Group Limited, based in Auburn, continues to extend its reach with the upcoming opening of new branches in Coffs Harbour, NSW, Laverton, Victoria and Kwinana, Western Australia. The company saw its net profit, after tax, fall by 37.3 per cent to $8.9 million, in the year to March.