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NAB has links with Allco
NATIONAL Australia Bank says it is not a direct lender to Allco Finance Group, but has lending relationships with entities associated with the finance house. NAB said it had provided a margin loan facility of about $110 million to Allco Principle Investment, which is one of Allco's major shareholders. "No shares have been sold under this facility and at this stage no material loss is anticipated,'' NAB said in a statement to the Australian Stock Exchange. NAB said it also had a $95 million fully secured facility with property investor Rubicon Holdings, which was recently acquired by Allco. NAB said $65 million of the $95 million was drawn. The bank said it had other lending relationships to entities in which API or Rubicon-held equity interests. "These loans are secured, all are performing and are on normal commercial terms,'' NAB said. More>>
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Humble pie can nourish England
Driving back up the rain-lashed M1 after an evening at soggy Wembley, the doom and gloom of England fans was all too apparent. Minibuses with the George Cross draped inside the rear windows contained sorry-looking faces, of men, women and children contemplating a summer without the giddy excitement generated by the build-up to a major football tournament.
Inevitably, disappointments such as Wednesday night result in an elongated period of soul-searching.
So while Football Association chairman Geoff Thompson has already promised a "root and branch" examination of the senior England team set-up, it is entirely appropriate that everyone connected with the Three Lions takes a long, hard look at themselves.
First up, the manager. Steve McClaren appeared to be the most forward-thinking of all the protagonists on Thursday when he held an unusual press conference in which he invited questions, almost all of which he then deemed unfit to answer. More>>
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Tribune's Rules: A Quirky Rush to Good Judgment
Media giant Tribune Co., which last month passed from public to private, employee ownership under the direction of real estate mogul Sam Zell, gave its nearly 20,000 employees a handbook yesterday outlining appropriate workplace policies and behavior and the new company's values. . More>>
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