Pierpont Trevor Sykes Finanial Review
But, like all childhood illusions, it hasn’t lasted. What the Tasmanian forestry industry mainly comprises, it seems, is tax-minimisation schemes.
Timb-e-r-r-r! It’s FEA going down
But, like all childhood illusions, it hasn’t lasted. What the Tasmanian forestry industry mainly comprises, it seems, is tax-minimisation schemes.
Or that’s the lesson Pierpont draws from what appears to be the nigh terminal problems of Forest Enterprises Australia, which raised $70 million from other impressionable children around the market just over a year ago and has since enjoyed one of the most spectacular collapses on the ASX. Any Youd looking at its share price would be yelling “Timb-e-r-r-r” immediately.
When Pierpont was a tiny tot in South Australia, the big drawcards at the Royal Adelaide Show each year were the champion axemen who came up from Tasmania.
Three brothers called Youd used to dominate the log chopping and tree felling. They must have been the original Chesty Bonds, rippling with muscle and wearing spotless white singlets long before the singlet became a fashion item.
Their axes were literally as sharp as razors. The Advertiser used to photograph them sporting faces full of lather and shaving with their axes.
So Pierpont long cherished the illusion that the Tasmanian forestry industry consisted of brawny lumberjacks chopping down giant blue gums and yelling “Timb-e-r-r-r” as they fell.
But, like all childhood illusions, it hasn’t lasted. What the Tasmanian forestry industry mainly comprises, it seems, is tax-minimisation schemes.
