/Michael Mannington

About Michael Mannington

Michael Mannington MBusIT - Contact through this website - - AKA Probus website administrator. - Website administrator for numerous organisations in the community and Not For Profit space.

After highs, pot stocks have come back to earth – John Collett SMH 30/06/2019

Shareholders in many of the cannabis companies to have listed on the Australian sharemarket in recent years are licking their wounds after the initial euphoria surrounding medical cannabis gives way to disappointment. Cannabis has been one of the hottest sectors of the market, after rapid growth in consumption of medicinal cannabis and legalisation of its recreational use in some parts of the world. The local industry started to gather steam after the government legalised patient access to Australian-grown and manufactured medicinal cannabis in 2016. The sector last year received a further boost when Australia lifted legal restrictions on the export of medical cannabis. That sent share prices sky high as day traders and short-term investors looked to cash in on the action. Dozen of cannabis companies – from cultivators to those developing medical cannabis – raised capital by conducting initial public offerings on the Australian Securities Exchange. Their shares initially made stellar gains for those who invested in the companies. However, the share prices of most of the companies in the sector have since dived. Many do [...]

By |2019-06-30T10:10:59+10:00June 29th, 2019|PIG|0 Comments

The future of CHESS going blockchain

ASX has announced that CHESS will be replaced with distributed ledger technology (DLT) in early 2021. While CHESS’s average monthly service availability over the last five years has been 99.99%, ASX states that the new DLT system (commonly referred to as ‘blockchain’) will improve upon CHESS and “provide a broader range of benefits to a wider cross section of the market”. Some of the main guiding principles for the project include providing greater control to issuers and end investors, taking future needs into account, and ensuring the new system is accessible, available, and reliable. We’re excitedly following Australia’s Consumer Data Right bill on open banking, and we hope to be able to integrate with CHESS (or its replacement) in the near future. (source: Sharesight)

By |2019-05-31T04:08:53+10:00May 31st, 2019|PIG|0 Comments

NBN Status – An excellent summary of the mess we are in.

It's the vision, stupid! Why we need Better Broadband By Laurie Patton Monday, 13 May, 2019 While neither side of politics is saying much about our increasingly maligned National Broadband Network during the election period, the fact is Australia is falling behind in the race to leverage the benefits — economic and social — of an emerging digitally enabled future. “It’s the economy, stupid” is the slogan attributed to James Carville, who was Bill Clinton’s campaign strategist for his successful 1992 US presidential bid. It was about creating a clear campaign focus in the minds of potential voters. In 2015, newly appointed prime minister Malcolm Turnbull similarly coined the term “innovation nation” to describe what he saw as a pressing need to make Australia more innovative and agile — and an issue that would differentiate his approach to government. Turnbull’s problem was that two years earlier, under pressure from his predecessor Tony Abbott, he had laid down tracks leading in the opposite direction. Dumping a full-fibre, fixed-line nbn network in favour of the so-called multi-technology mix (MTM) model has seen us fall from around [...]

By |2019-05-13T05:23:39+10:00May 13th, 2019|PIG|0 Comments

Lithium is finite

Lithium is finite – but clean technology relies on such non-renewable resources Parakram Pyakurel, Southampton Solent University Until we cut consumption, we will only shift problems from one natural resource to another. Replacing conventional cars with electric cars A quick calculation shows that, if all conventional cars (those using petrol/gas or diesel) were replaced by electric cars, the world would run out of lithium in around five decades. I take the total amount of lithium from the US Geological Survey, which estimates there are currently 14m tonnes of proven reserves worldwide. I used industry figures for the total amount of passenger cars sold worldwide – about 69m in 2016. That same year, less than a millionelectric vehicles were sold, even including plug-in hybrids. Now, if we imagine a future where all passenger cars were electric and the number of cars sold per year remains constant at 2016 levels, almost 69m (technically: 69.46m minus 0.75m) electric cars will have to be produced each year even at a very cautious estimate. Our assumption here that the demand of cars will remain constant is actually [...]

By |2019-04-11T23:37:39+10:00January 14th, 2019|PIG|0 Comments

Hgh Frequency Trading

ABC Radio National – Background Briefing Attack of the algorithms Robot Traders – High-Frequency Trading There's mounting concern in the world's financial markets about the influence of High Frequency Trading. This so called 'robot trading' was responsible for the Flash Crash of 2010 and in August this year, the US company, Knight Capital, lost $440 million when a trading algorithm 'went rogue'. Robot traders are dominating stock markets using high speed computer algorithms. Human traders and government regulators can’t keep up, and markets could be one programming glitch away from the next big crash. Stan Correy investigates. Program Audio ______________________________________________________ ABC Background Briefing is daring narrative journalism: Australian investigations with impact. Our award-winning reporters forensically uncover the hidden stories at the heart of the country’s biggest issues. ______________________________________________________

By |2018-10-31T06:23:59+10:00October 30th, 2018|PIG|0 Comments

A fright for investors over new rules

Woolworths and Wesfarmers’ liabilities will double, and Myer’s liabilities will treble in 2019 – not because of a major acquisition but because of new accounting rules (AASB 16 Leases).    Putting this in very simplistic terms – companies that rent space to sell their goods, record that rental expense in their profit and loss account with other expenses such as wages, electricity etc.    However, they would very likely have entered into a lease agreement for a 5 or 6 or even 10-year lease, and it is this commitment that up to now has not been reflected in the accounts of the operator.    Companies are now being forced to bring operating leases onto their balance sheets for the first time, from January 2019.    Whilst the new accounting standard will improve transparency it will also have a major impact on key financial metrics such as gearing ratios and return on invested capital, as the present value of leases will be represented on the balance sheet as an asset and liability. It becomes a bit more complex as companies have [...]

By |2018-10-31T06:24:45+10:00September 10th, 2018|PIG, Uncategorized|0 Comments

What to do about franking credits

Marcus Today 30th August, 2018 In March this year Bill Shorten pledged that should Labor win the upcoming election they will axe cash refunds for excess imputation credits paid to individuals and in superannuation funds. This would reverse the cash refund of imputation credits introduced by John Howard two decades ago. It would also be introduced with no grandfathering or transition arrangements. Malcolm Turnbull rejected it as a “cash grab”. The removal of Malcolm Turnbull means the Liberals can renege on that position and even adopt the changes should they feel it politically expedient. Read the complete article here:

By |2018-10-31T06:25:20+10:00September 6th, 2018|PIG, Portfolio|0 Comments