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Lateline Business -

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(generated from captions) if the world adopted the

Australian targets, do you

seriously believe that would

bring emissions below 550 parts

per million? . It's not a

question of whether the world

will or won't adopt those

targets. The world will come to

uts view collectively and

frankly individually as well

toos what star get path it's going to take. We've come to

ours, we've set it out. They're

solid targets. At the end of

the day putting in place those

measures now, being decisive

and clear about what it is we

think we can do, and also

building in to our approach

significant opportunities for

emission reductions at the

house hold level. I'm lucky

enough to have the challenge,

if you like, of rolling out the

biggest ever energy efficiency

program that Australia's ever

seen. We want to bring ceiling

insulation and solar hot water,

both of sch produce significant

energy cost savings, reduce

emissions, and will also

incidentally but importantly

stimulate the economy through,

we want to do it for 3 million

Australian homes. Let's move

on. There have been recent

reports of President Obama may

seek a long delay before he

signs up to any international

agreement, in fact it seems now

unlikely because of opposition

in the US Congress, that the US

will sign up to an agreement at

Copenhagen at the end of this

year. That would be a huge blow

for any international effort to

bring down global emission,

wouldn't it I think it's a bit

premature to be coming off that

question straight away, Tony. I

know the report that is you're

referring to which have led you

to ask it legitimately. The

Congress here will be

absolutely critical in terms of

the position that ultimately

the administration does bring forward. In the brief period of

time I've been here I've seen a

real thirst on the part of

people on the street, people

we're talking to. And also

officials for the United States

to be engaged and to be play

ing a more critical and

important leadership role. I

think the fact that the

President has sought to have an

additional meeting with the

economies and nations to

consider these matters is an

indication of that. But at the

end of the day, there are bills

in the Congress, in draft form,

they haven't travelled through

what can be quite a long and

sometimes convoluted process,

but I don't think there is any

doubt that the administration

as a whole, and the President

have made clear they will

address this issue and they

will address it in a fashion

which is focused, and

consistent with what we've

heard from President Obama and other officials previously.

Finally, Peter Garrett, the

former President of the World

Bank, James Wolfensohn has just

been aponed to head Australia's

advisory panel on carbon

capture and storage, will that

appointment speed up efforts in

this area? I think it's a good

appointment. It will certainly

mean that someone of

significant experience can take

up that role.. we just have had

significant buy-in from other

major countries to the carbon

can'ture and storage

initiative. And I think the US

support for that initiative is critical. The fact is there are

a number of components

significant and important

components that countries need

to bring forward in addressing

climate change. We've spoken

about some of them tonight.

Carbon capture and storage is

another. I think Wolfensohn

will make a very good fist of

that job. We'll have to leave you there. We thank you very

much for taking the time to

join us before your meetings in

Washington today.. thanks,


An update on the earthquake

in Italy where the toll is now

92 dead. An Indonesian pilot

has been sentenced to 2 years'

jail over the 2007 Garuda plane

crash that claimed 21 leaves

including five Australians.

Captain Marwoto Komar was

travelling at almost twice the

normal landing speed when his

jet crashed on approach to

Yogyakarta airport. He has been

found guilty of negligently

causing death. Indonesia

correspondent Geoff Thompson

reports. Former Garuda pilot

Marwoto Komar arrived at court

with his family by his side.

Saying he was ready for

anything, but hoping to fly again. Do you want to fly

bean? Yes. I do. SIREN WAILS

This is how his last flight

ended 2 years ago. With a

broken and burning bowing 737

in a field at the end of

Yogyakarta's notoriously short

runway. Five Australians were

among the 21 killed, including

the journalist Morgan Mellish.

His sister, Caroline was in

court, sitting opposite the

captain's family to hear the

judges sentence the pilot to 2

years' jail for criminal

negligence. If their idea of a

legal system and justs being

sebside sentencing someone to 2

years' that was responsible as

they see, wholly and souly for

the plane crash that resulted

in # 1 people dying - 21 people

dying and lots injured 2 years

doesn't seem fair. The judges crits issed Captain Marwoto

Komar remorse, considering he

ignored multiple warnings from

his cockpit and Co pilot. Do

you feel remorse? Are you

sear? Deeply mourning, that's

all. Deeply mourning. The first

pilot in Indonesia ever to be

found guilty of a crime for

causing and air disaster will

stay out of jail while he

appealsment despite a $24

million Australian training

scheme serious concerns remain

about the safety oversight of

Indonesia's airlines which are

still banned from flying to the

European Union despite the

passing of a new aviation law

last December. We have done the

new aviation law, that's big

step. But we have still a long

way to go because there is a

lot of sort of thing that we

have to, um, make the

improvement. It's clear jailing

Marwoto Komar will do nothing

to solve Indonesian aviation's

problems, as he was sentenced,

2009 status as a fatality free

Indonesian Air Force personal year was shattered when 25

el were killed when their plane

crash ed in ban done. South

dropped corruption and fraud African prosecutors have

charges against the African

National Congress leader Jacob

zuma. Mr Zuma has always denied

the charges saying they're part

of a political plot. Now the national prosecutoring

authority's ruled the fomer

chief of South Africa's elite

anti-crime unit, moon inulated

the legal system during the

investigation of Zuma. The

chief prosecutors wants an

investigation into those

abuses. It would be unfair as

well as unjust to continue with

the prosecution. In the light

of the above, I have come to

the difficult conclusion that

it is neither possible nor

desirable for the... To continue with the prosecution

of Mr Zuma. Mr Zuma is widely

tipped to become South Africa's

next president, the way is fou

clear for him to assume the job

after the election on the 22nd

April. To the weather - showers along the eastern sea board.

Clearing early in Sydney. A

possible storm in Darwin.

Partly cloudy in Adelaide,

fine in Canberra. Warm with

fresh easterly winds in Perth.

That's all from us. Lateline

Business coming up. If you'd

like to look back at tonight's

interview with Peter Garrett or

review stories or transcripts

you can visit our web site.

Tonight - hard times for the

small players. Bendigo Bank

drops its earnings guide enance

by 20%. Counting adjustment and

a couple of other things like

the margin lending business not

growing have probably brought

us to the market to say, look,

we're not going to get to that

level this year. Another small

step - BrisConnections ordered

to stop cold calling unit

holders as moves continue to

wind up the group because

investors were allegedly

misled. There is nothing saying

that there is a... Year or any

liabilities attached with the

shares. Each way bet -

economists divided as to what

which way the Reserve Bank will

move on interest rates

tomorrow. The most likely

response from the Reserve Bank

is a half point cut. I think

the Reserve Bank Board might

leave the cash rate just where

it is, 3.25%. To the markets -

Local shares advanced for a

third session. investors were

more bullish across Asia.

Iron ore billionaire Andrew

Forrest and his company

Fortescue Metals are on trial

in the federal court in Perth

accused of misleading and

decept ive conduct. The case

has been brought by the

corporate regulator ASIC which

is seeking millions of dollars

in civil penalties. And wants

Mr Forrest banned from acting

as a company director. It's a

high stakes court case

involving one of the nation's

best known businessmen. But the

five-week trial had a low key

start in Perth today. There

were teams of lawyers and

cartons of documents but not a

sign of Andrew Forrest or any

of his senior executives. The

case centres on announcements

FMG made to the share market,

investors and the media in

August and November 2004. ASIC

alleges FMG overstated the

substance of the agreements

with 3 Chinese State-owned

companies to build and finance

mining, rail and port

infrastructure in the Pilbara.

In his opening statement to

the court ASIC's lawyer Neil

Young said Mr Forest and FMG

had fostered ght illusion the

agreements were far better than

they were. He said the company

had many opportunities to

disclose the terms of the deals

but it instead toes thos repeat

the inflated claims. He said

FMG revealed the true contents

of the agreement only in 2005

when it responded to ib urs

raised by a newspaper article.

The company's share price

dropped significantly at the

time. Mr Young said FMG knew

its conduct was misleading

because it was aware the 3

Chinese entities would not

commit to any binding agreement

without first demanding equity

in the company. Mr Forrest and

FMG say they will vigorously

defend ASIC's claims. The

company's lawyers are expected

to make their opening

statements tomorrow. The

embattle ed toll road builder,

BrisConnections has been dealt

another legal setback as it

fends off an investorer revolt.

The Vic Jan Supreme Court has

ordered the company to stop

cold calling unit holders ahead

of a meeting next week to

decide whether to wind up the

group. Now the authorities are

launched their own response to

concerns about partly paid

securities, introducing a new

disclosure ray yeem. - regime.

As work continue osen proib

ace airportlink in Melbourne

the court battle resumes to

decide the fate of the road's

builder. On Thursday the

justice Ross Robson held that

rebel unit holder nick loss

Bolton's Australian-style

Investments could call a

meeting of investors to decide

whether to wind up

BrisConnections. Today the Australian Securities and

Investment Commission put its

case arguing that investors

have not been clearly informed

by bris connections rr. Caught

in the middle are the retail

investors who bought large

numbers of vitually worthless

units in BrisConnections. Many

were unaware each units carried

a liability to pay two more

instalment s of $1 per unit.

Now some small investors are

facing bills in the hundreds of

thousands, or even millions of

dollars. Council for ASIC, Ian

Waller SC told the court

statements made by

BrisConnections to unit holders

in the leadup to next week's

meeting are at best confusing,

at worst misleading, and

certainly inconsistent. He

argued the court should make an

order to stop BrisConnections cold calling unit holders

directly to give out

information about the meeting.

Joseph Santa Maria QC for BrisConnections said such an

order would be extraordinary,

baffle ing, up fair and

uncommercial. He told the court

there is no evidence that

BrisConnections was in breach

of its fiduciary duties to unit

holders, that all conversations

with investors were done

according to an I a greeed form

of words and all were taped.

It's Justice Robson reminded

counsel for BrisConnections

that the trustee was not a

protagonist but a ser vab of

the unit holders. He said the message from the trustie had

all been one way denigrating

the other point of view. He

said it was the duty of the

trustee to provide facts and

figures so unit holders could

make an informed decision.

Instead they were just getting

opinions. Justice Robson said

that until a further

information memorandum was

agreed between ASIC and

BrisConnections there was a

probability that the company

may again nij - may engage in misleading and deceptive

conduct. He ordered the cold

calling stop until the new

memorandum was released.

Justice Robson sais said it was

the dutiesy of the trustee to

inform members, not to procure

a particular resumt. Bris

connections rr has been pleased

on a trading halt. The group

says one of its underwriers has received details of an approach

to units holders about their

liability to pay instalments.

ASIC and the Australian securities Exchange are

launching their own measures to

protect investors from partly

paid shares. Under new rules,

brokers will have to alert

retail clients of the rights

and obligation as I associated

with trading partly paid securities. Brokers will be forced to obtain a signed declaration from clients they

are are responsible from

obtaining and reading a

prospectus, product disclosure statement or information

memorandum when they're buying

a partly paid security for the

first time. But Stephen and

violet say they're online

broker still hasn't updated its

web site to warn of the liabilities attached to bris

connections rr units. There is

nothing whatsoever saying

that's a tached year or any

liabilities attached with the

shares. All they said when we

rang them up was we should've

known or be aware that if you

have five letter code, then

that's the... Security. Which

means today's action by the ASX

and ASIC will provide little

comfort to small bris

connections rr investors some

of whom still face the very

real prospect of financial

ruin. The recent improvements

in equitity markets can't stop

the rise in Australia's unemployment level. The

Government is expected to

revise it's unemployment

projections to around 8% in the

May budget. It's unclear what

that means for the Reserve Bank

and its decision on interest

rates tomorrow. With economists

split on which direction the

RBA will go. Last month the

Reserve Bank took a wait and

see approach keeping the

official cash rate at 3.25%.

This month the futures market

has priced in a quarter of a

percentage point cut, but

economists are divided on what

the RBA's move will be. The

Reserve Bank last week said

that the Australian economy

probably will shrink in 2009,

that's an update from a more

upbeat forecast about 2 months

ago. I think the most likely

response from the Reserve Bank

is a half point cut. I think

the Reserve Bank Board might

leave the cash rate where it

is, 3.25%, and the reason I

think that is because some of

the signals we've been getting

for the Australian economy recently haven't been too bad.

We're expecting a 25 basis

point rate cut, to be

delivered. We had been

expecting them to remain on

hold but the movement in our

economic data and various

commentaries suggest they're

very close to cutting. We

think the RBA will cut interest

rates by half a percentage

point. I think the reasons are

linked very much to the global

recession. Designed to cushion

the effects of the global

recession, the government's

latest cash bonus payments are

now making their way to more

than 7 million taxpayers. These

payments are all about

supporting jobs, particularly

in the retail sector, and

particularly until the direct

investment in schools, homes

and house kicks in. In job

advertisements are an early

cairnt of the employment cycle

then this month's stimulus

package, if it works, is coming

at just the right time. The ANZ

Job adds survey released today

showed job ads dropped 8.5% in

March. We now have a total job advertising in the Australian

economy down 44% over the year,

that's the weak est annual rate

of growth since the combined

survey that captures both

Internet and newspaper jobs,

ads started in the late 1990s.

The jobs picture will become

clearer later this week,

official fig use out Thursday.

the first home buyers grant is

stoking demand on the housing

front, equity markets have

rallied around 20% in the last

4 weeks. The Reserve Bank can

also take some comfort in

knowing inflation is continuing

to fall and is now well within

its target range. The TD

Securities Inflation gauge

showed that drops in the cost

of petrol, rents and tobacco

pushed its measure inflation

down 0.1% this month, to 2.6%

for the yearment Inflation's

dead. It was an issue a year

ago. Now as we've got a recession, commodity prices are

down sharply. People's living

standards are falling,

unemployment is going up. A

fact that is sure to weigh

heavily on the minds of the RBA

board members who head to

Brisbane for the meeting. I

spoke to Charliate kin. -

Charlie Aitken. There is a

gairt of disgsh -

There is a fair bit of

disagreement of the RBA decision. The Reserve Bank

didn't move last month. There

is some chance they won't move

this month. You have to

remember they seem to want it

allow the stimulus packages to

work, to see what the last 4%

rate cuts have down done for

the economy and remember that

people don't get their $900

stimulus package from the Rudd

Government till later this

week. I think there is a chance

the Reserve Bank doesn't cut

interest rates tomorrow but the

market is expect ing them to

cut interest rates. The banks

were pretty strong expect for

Bendigo and Adelaide Bank. Were

the banks driven by that rate

speculation? Banks, building

steerls, teal - steel stocks,

retailers up on expectation of

a rate cut. Little bit of that

is by a global phenomenon,

those stocks have been doing

well. What about Fortescue

Metals. ASIC has begun court

proceedings against Fortescue

Metals founder Andrew Forrest.

Is that going to have any

impact on the company

itself?ive It's an interesting

one. It's going to get a lot of

headlines. Mr Forrest is

Australia's richest man. It's a

topical stock. It will get a

lot of press. The stock has

underperformed since those

announcements came out. Iron

ore stocks other than Fortescue

are quite strong today. I think

Fortescue is bigger than one

man but this is going to take

the headlines as the

proceedings go on. Telstra was

also up again. It would seem

now it's very close to when

we're gonna get that decision

about who is going to build the

National broadband network.

What's your reading of that

Telstra price movement? That

decision might be delayed.

There is a market view that

none of the prospective

builders of the NBN proposal

are well financed. So the

market today was suggesting

that decision may be delayed.

Telstra shares did very well.

It already has been delayed,

hasn't it? It could be thraied

again - thraied again - delayed

again is the theory. I think

Telstra could have a good

week. Is it fair to say most

eyes will be on the US and the

start reporting season on Wall Street? Absolutely. The

market's had a big rally in

America, up 23%. We start on

Tuesday Night with Alcoa

leading the report ing season,

it's for the quarter ending in

March. Expectations are very

low. The market now expects S&P

earnings for the quarter to be

down 37%. There is some chance

the earnings just come am line

with those lowered

expectations, the market can

continue to advance. Thanks for

bringing us up-to-date. Thank

you. With financial stocks back

in favour - fauk Group gained

over 5%. Macquarie Group.

Gold miners suffered, bullion

prices fell. Lihir gold slipped

6%. Property stocks suffered -

Stockland was the worst hit

with a 7% decline. Currency

markets - after earlier rising

to a six-month eye the

Australian dollar is - high the

Australian dollar is trade ing


The country's sixth largest

bank, the Bendigo and Adelaide

Bank surprised the market today

with a profit downgrade of

about 20%.Bush The market had

been expecting cash earnings

per share for the current year

of up to 58s c - 85 c. Today

the bank said it expected 75 c

a Shire, between 205 and $218

million. Bendigo and Adelaide

Bank slumped 9%. The Bank is

the result of a merger of the

separate Bendigo and Adelaide

businesses. And one of the

reasons behind today's

downgrade was a $14 million

account ing error made while

integrating the two-bank

systems. I spoke to the bank's

CEO Rob Hunt earlier. Welcome

to Lateline Business. My

pleasure. You've cut earnings

guidance bye bye 20%. What's

changed since your first half

results in February? A few

things. First of all, the environment - it's a pretty

tough environment. We took a

deliberate strategy at the

start of the year given we're a

small bank. We wanted to make

sure he we moved any reliance

on what had proven to be pretty

unreliable markets in the

wholesale markets and we've not

used the Government guarantee

because it was just uneconomic

for us to do. - so. We took a conscious decision to put all

our efforts into growing our

retail base. Some of the rate

movements have not been exactly

as we planned. We also had a

staff share scheme allocation

to all our staff, that was also

an additional item. We had an

accounting error in the

combining of the merged entity

at the end of the first half,

in December. We had in fact a

revenue line that was

effectively double couned in bringing the two systems

together, we found that that

was in some ways camouflaging

some some margin issues which

we would've otherwise informed

the market. There were a number

of items like that we now,

cominging to light last week, this accounting adjustment we

felt is important to make a

clear statement of what impact

the funding costs and what imt

pact those other items were

having on us last year.? It was

just last week? The market's

been pretty surprised. Your

shares were down 9%. When we

last spoke about 7 weeks agoen

this program you were pretty

upbeat. You didn't have any

hent of what was to come? No,

in fact we knew, we took that

conscious decision around the

funding because we'd probably have one of the best balance

sheets in the country today,

with 90% of our funding base

being financeded retail. We

always knew that was going to

put funding pressure on during

the course of the year, we also

felt that that was going to be

a very good investment because

by derisking effectively that part of the liability base that

was the most challenging in the

global financial system we were

going to be in a lot bet ever

position not only to service

our customers but to meet their

ongoing demand. So we were well

on track to pull that together

we were still generating reasonable revenues. We knew

the pressure was mounting on

our customers. We'd expect we'd

have to take some pressure. We

fully expected that. In some

ways the accounting adjustment

and a couple of other things

like the margin lending

business not growing that

brought us to the market to say

we're not going to get it that

level this year, but we wanted

to make the point that we fully

expect our net interest margin

revenues to be back to normal

by May. We do see this as a

short-term adjustment and - Let

me ask you - you obviously

fairly optimistic about the

future but your $14 million for

want of a better word, account

ing stuff up, are you pretty

confident that's the only

one? Yeah, we are. As I said,

we've been back through this

obviously. We're still look ing

at how that bringing together

those systems allowed that. It

had been through an audit. All

the checking processes. We're

confident now, we've been right

back through that process to

make sure that is in fact the

only one that was involve ed in

the first half. You made the

point today that mortgage

arrears are fairly stable, but

where are the problems in the

business loan book? There's not

too many problems. We've found

so far the only thing we have

avenue seen - it's probably to

be expected, is a little bit of

pressure amount in some

developments and construction

type areas, where in some ways

the construction and the demand

for conthose particular end

units or the end blocks of land

have come off in the - because

of the uncertainty, they're the

ones that probably are first

signs and they're the only awe

judgments we've really made.

You made those adjustments in

February, there has been no

change to the loan book since

then? The - we continued our

evaluation of the copstruction

area and development area following that, there were a

couple of small ones, but there

has been nothing major. Up

until now, really, the standard

prime book has really hardly

changed. I think that refleck

at the moment employment has

held up pretty well. So we're

very watchful of this, we're

very keen to tropical cyclone

to our customers - keen to talk

to our customers when they see

signs of stress. Today job ads

have plunged. Are you expecting

another interest rate cut

tomorrow?. I'm not so thur -

so sure that the cut is going

to come. There is a variety of

views about this. I'm - I think

the Reserve Bank might be

the Reserve Bank might be cautious. Certainly they're

starting to see the stimulus

come through. I would've

thought they might have waited

to see what impact the stimulus

package is having and whether

they - don't actually get the situation where inflation

starts to raise its ugly head

again. So from my perspective

I'm a bit more cautious. That's

my view. There are views that

differ in our own organisation

as there are across the

economic front. But my view is

I think a - they might abbit

caush at this time. If they're

not and they do cut, will you

pass it on in nul full? Onches,

we've not end - No, we've not

made that decision. We know

banks generally have had quite

a substantial increase in the

funding cost. While we see

everyone focuses on the cash

rate, most of the relief that's

been deliver sod far has been

delivered to households. I

think that there is a really

good case that if there is - if

there are further cuts that

there is not the same level of

resistance to pass that or at

least pass something on to the businesses. After all the

businesses create the

employment. So this time round

you could perhaps give it to

your business customers not

your home loan customers?. It's

- if that's the balance we'd -

that's the balance we'd try and

strike. Thanks for joining

us. My measure. Casino operator

Crown which is controlled by

billionaire James Packer has

denied a media report it's

considering taking a stake in a troubled development in Las

Vegas, the $12 billion City

Center project in the heart of

Las Vegas is facing bankruptcy

after the main financier, Dubai

World sued the developers. A

story in the Wall Street George

says Crown was - George says -

Wall Street journal says Crown

was considering... Looka look

at tomorrow's business diary.

The Reserve Bank publishes

it's interest rate decision.

What's making news in the

business secs - the shun shun

pre- the herald The 'The Australian Financial

Review' says the Government has

moved to limit its exposure to

the commercial property market. The 'Sydney Morning Herald'

leads on BrisConnections latest

legal setback. That's all for

tonight. The FTSE is down 51

points, or 1.3%, and the Dow is

down 73 points, close to 1%, in

the first 3 minutes of trade.

The futures were down 88

points. If you want to review

any part of the program visit our web site.

You can watch the whole show

online or download it as a

vodcast. We'd love to get your

feedback. Goodnight. Closed Captions by CSI

TRUCK RUMBLES You're endangering her life, mate. Hey?

You're endangering her life... You're endangering my job! ..and your own health. Occupational health and safety... And you're on film. Where's your safety gear, mate? Talking about occupational health and safety. Get your helmets on! Your red vests. You fucken stinken nuggets. MACHINES HUM AND RATTLE

Get out of the road, where it's dangerous, please. It's all I'm askin' youse. Fucker! What's the danger, can I ask? I said, they're not going to stop the trucks from going out.

They're not gonna stop nothing. Well, there's logs swinging around. I don't know where youse are. Swinging around, talk about safety... The truck driver's gotta be 20m... It's a danger... No! You gotta get out of the road because somebody will get squashed! Someone get hurt and then we get the blame.

Right. Who's the spokesman here? In this group? It's a requirement to be in logging safety gear. Because of occupational health and safety this is going to have to stop. (Protesters call out) Yeah? You got more front than Myers, you fucken scum. Well, I'll have to get the boys up here. Hey, keep it up, cunt, and I'm gonna come up there and I'm gonna fucken knock you out. Bring it on! (Yelling) Well, I'm up here. Yeah, well, I don't wanna fight you. Well, don't fucken stand up here and talk shit, you fucken scum! GIRL: We're not talking shit! MAN: Aren't you supposed to be having a meeting now?

Aren't you gonna... MAN: (Yells) The thing you can do is fuck off, you old cunt! Yeah, I've seen a lot, A LOT of destruction. I've seen the forest beforehand and its beauty and, then, seen the absolute decimation and destruction after a clear-fill logging operation. It's certainly a good motivator. It makes me feel really sad. I mean, I'd like to do other things with my life, and I'm sure that I will,

but, right now, this has to take precedence. This is the most important thing,

and my education can come later - I can go back to university. ACOUSTIC GUITAR PLAYS TRANQUIL TUNE Five years ago, I came to East Gippsland to make a film about the last great forest on mainland Australia. For the loggers, this forest is work and a way of life. The forest is defended by diehard greenies. The front-line is deep in the mountains, away from the eyes of the world. This is a story about the end of the old-growth logging era and the battle to defend the last wild forest in East Gippsland. GUITAR STRUMS OVER CHIRPING BIRDS FEMALE NARRATOR: The protesters' tactic is to chain themselves to the logging machinery so it can't be used. STEEL CLINKS Around them, in the dark, is a logging coupe...

Big holes here... area the government has given to the logging contractors... STEEL SCRATCHES area that contains rare, old-growth forest. Michael, can you tie that off? In some way. You've gotta work out how to tie that off. Get any sleep? Um... About 10 seconds. ..none at all. Are you worried about the loggers coming in? Fucken oath! I don't know. I'm a bit - like, I kinda slip in and out between being scared and not being scared. BIRDS CHIRP (Yells) 30 seconds to arrival! NARRATOR: What the protesters don't know is that the loggers want to quit. The coupe is too steep for their equipment. Wait, wait, wait... What for? All the loggers want to do is to get the bulldozer out.

GIRL PROTESTER: Good morning!

We've got the float in there, mate. We're shifting out. You're out? Yep, we're out. So, you've just wasted your time. Get out of our way so that we can get out of here, will you? You don't believe us, the float will be at the landing at 8 o'clock, mate. Down the bottom landing at 8 o'clock - we're out of here. Get this shit off our gear so that we can get out, will youse? As I told your friend here the other day, I got a family to feed and I can't afford to be standing around. Yeah, we understand that. We've said to 'em, "We've had enough mate. We're out." So... You said that? Yeah. You told the NRE that you don't want to log... We don't want to log it, so, they said, "Righto. We'll pull you out of there." Wow.... Out we go. That's fucken amazing. I just enough, you know. Like, for three months, we've just earned no money at all, and that - the head honcho, he's on about 150 grand a year. He don't care. Oh, yeah. Locked on to EGL. Don't worry - I'm not going to drive it away while they're under there. I'm not going to drive it anywhere while they're there. The keys are in me pocket. GIRL: (Chuckles) Yeah, Nigel... They've locked on to the excavator, the dozer, and my vehicle. 2WAY: Can you give me any details on numbers? Probably 20-25... PROTESTER: There's 17 million of us! ..probably 20-25 of 'em sitting around the landing. We have the upper hand, at the moment, and it's up to us, to make some - to try and present some sort of way for everybody involved to try and keep us happy as well.

And maybe as a proposal, if we can get in writing from Gary Featherston or the senior NRE dudes, for this coupe never to logged, then, we'll let the machinery go. I reckon that, even if you've got it on paper, it doesn't mean shit, mate. A better worker liaison would have been to - we were talking to them - they were quite friendly - to let their bulldozers go when we...when they thought...