Re: Austrac working to trade out of financial problems

[mauried@tpg.com.au (Maurie Daly)]

On Fri, 15 Sep 2000 09:03:53 +1000, "Russell Norton"
<russelln@iprimus.com.au> wrote:

>
>"Steve" <pracys@eisa.com.au> wrote in message
>8pqd3n$2br$1@news.eisa.net.au">news:8pqd3n$2br$1@news.eisa.net.au...
>> Well maybe you should read the HILMER documents in their entirety before
>you
>> run off at the mouth.
>> NR is still owned by the governments of VIC,NSW,FEDERAL and it does not
>get
>> CSO payments!!!!!!!!!!!!
>> FREIGHTCORP profit was CSO derived
>
>Yes, the NSW govt gets a $40 odd million dividend from FreightCorp, after
>PAYING them $72 million in CSO payments. What a great deal !!
>
>Russ.


Further on this thread a bit more, most of the articles relating to
the sale of FC seem to indicate that the Company is worth $1 B .
Does anyone know how this figure is derived?
Its generally accepted that 18% return after tax on investment is an
acceptable rate of return ,which would mean that if FC is worth $1B it
should be making an after tax profit of at least $180 M,but its
nothing like this.
The other down side in the FC sale ,and also for that matter in the
NRC sale ,is that neither sale includes the lease of any track,which
was the case in the sale of Vline and the sale of AN ,and will be the
case in the sale of Westrail.
This must drastically depress FCs sale price .
Maybe I am missing soemthing.

MD