Selling a Dead Cat

In an example of ideology over common sense, the government has decided to sell $8 billion worth of Telstra stock.

The shares are trading at a historic low. Dumping the shares on the market at this time is hardly likely to improve the company's value.

I'm keen to see how they're going to promote this to the public, some of whom have seen the value of their shares fall from $7 to around $3.50 each this week. A sweetener for those who hold T2 stock is a strong possibility.

Mr Howard says the Government's shares would have been sold earlier at a higher price if opposition parties had not blocked the legislation.

Yes, and ripped off a greater number of the gullible public. Let's be thankful that the Senators held off the sale for as long as they did.