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Ups and Downs

23/09/2011

Two pieces of news for you to consider my faithful readers!

What goes up must come down.

Well, it was good while it lasted! After months of the dollar being above parity and at one stage hitting an almighty $1.10 US, the Aussie dollar has slipped back to $0.98.

Dollar drops below parity with greenback

Thomas Hunter
September 22, 2011

The Australian dollar fell sharply to a six-week low below parity today, as market pessimism grew over the US central bank’s measures to stimulate the ailing American economy and amid more signs of a slowdown in China.

During the day the dollar fell as low as 99.94 US cents shortly, before recovering slightly to close locally at $US1.0017.

However, in offshore trade this evening the dollar continued its fall and was recently trading at 98.3 US cents, as investors continued the sell-off of risky assets after European sharemarkets dropped more than 3 per cent. It was also buying 73 euro cents, 63.7 yen and under 75 yen.

Read more: http://www.smh.com.au/business/markets/dollar-drops-below-parity-with-greenback-20110922-1klug.html#ixzz1Yiih6Bh1

Ahh well. It was good/bad while it lasted. And now…

What goes down, eventually comes back up.

I really don’t think I want to add a comment to this other then to say it’s really hard erasing the images the story burned into my brain.

Sophie Mirabella faces Colin Howard family’s wrath over will

  • PIA AKERMAN
  • From:The Australian 
  • September 23, 2011 12:00AM

WHEN Sophie Panopoulos met Colin Howard at a function in 1994, they immediately hit it off despite their 40-year age difference.

She was a bright 26-year-old at the start of a promising legal career, he was a respected 66-year-old barrister, soon to be appointed crown counsel for Victoria.

By the following year, a love affair was in full bloom, setting the stage for years of family feuding and potentially career-threatening allegations that are now poised to embroil federal Coalition MP Sophie Mirabella, nee Panopoulos, in a court stoush with her former lover’s adult children.

Professor Howard died this month at the age of 83 after a long battle with Alzheimer’s disease. His children, Lesley and Mervyn Howard, plan to mount a challenge in the Victorian Supreme Court contesting Mrs Mirabella’s role as main beneficiary of his will and executor of his estate, which includes a valuable terrace house in the trendy Melbourne suburb of Carlton.

Mrs Mirabella, who is the opposition spokesman on industry, innovation and science, last night declined to answer questions about the dispute.

“It is less than 12 days since Dr Howard was buried and no application has been made to obtain grant of probate of his will,” she said in a statement to The Australian.

“There is no public interest in denigrating the memory of a private man.”

David Leggatt, a solicitor acting on behalf of the Howard children, confirmed the dispute was heading for court.

Mrs Mirabella has not applied for probate from the Supreme Court. Once she does, or if she does not apply in a reasonable period of time, she is likely to be challenged by the Howards.

There has been bad blood between the two sides for several years, in spite of amicable beginnings.

Mrs Mirabella moved in with Professor Howard, a constitutional law expert, soon after they began their romantic relationship in 1995.

Publicly available records show the pair shared an address in Murchison Street, Carlton.

They also shared a belief in retaining Australia’s ties with the monarchy, which helped elevate Mrs Mirabella to national prominence at the 1998 constitutional convention. Both attended as delegates opposed to the republican movement.

In 2000, Mrs Mirabella moved to Wangaratta in central Victoria to work as a barrister and lay the foundations for seeking Liberal preselection in the federal seat of Indi, which she won the following year. In her maiden speech to parliament she paid tribute to Professor Howard’s “inspiration and support”.

However, it is understood that over the next five years the Howard children became increasingly worried about their father’s mental condition and Mrs Mirabella’s relationship with him.

In 2006, when she was no longer romantically involved with him, she married Greg Mirabella, a former army reserve officer. The couple now have two daughters.

It is believed Mr Mirabella and Professor Howard formed a friendly relationship, with the retired law professor moving to Wangaratta in 2007. He lived in a house next to the Mirabella property. His health deteriorated over the next 18 months and he ultimately lived in an aged-care home.

His death earlier this month prompted an obituary from the Victorian Bar Association noting his achievements in law and academia. He was born in England in 1928 and moved to Australia at the age of 30. From 1965 he was a law professor at the University of Melbourne, where he was dean from 1978 to 1983.

He took silk while with Mrs Mirabella in 1996 and served as general counsel to the Victorian Government Solicitor.

A. Ghebranious 2011 (All Rights Reserved)

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One Comment
  1. Jennifer Baratta permalink

    Sorry Ash stocks went down today

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