View Full Version : Resignation of Crows #1 ticket holder from RBA under a cloud:- Any impact on AFC?
Toots Hibbert
3 Dec 2005, 12:04
Reported yesterday and today that AFC's number one ticket holder Rob Gerard has resigned in controversial circumstances from the Reserve Bank of Australia board. Mr Gerard's wife has said that she is upset with South Australia and Australia in general. Rob Gerard has complained of health affects as a result of the controversy surrounding his appointment while under inverstigation for the tax affairs of Gerard Industries which were subsequently settled with a $75 million dollar payment. Mr Gerard has been a contributor to the Liberal Party over the years.
Obviously as number one ticket holder he has made significant financial contributions to the AFC. Will the controversy now surrounding him and the statement of disenchantment by his wife have any impact on AFC?
THE ADVERTISER
Gerard becomes Costello's fall guy
By PHILLIP COOREY
03dec05
ROBERT Gerard's resignation from the Reserve Bank board yesterday did not absolve Treasurer Peter Costello from appointing the Adelaide businessman to the post in the first place, Labor charged.
Mr Gerard, mid-way through a five-year appointment to the board, quit yesterday following an acrimonious week in federal Parliament in which his past company tax affairs were used to embarrass the Government.
"Mr Gerard has become the fall guy for Peter Costello's inappropriate appointment," Labor treasury spokesman Wayne Swan said.
"Peter Costello . . . appointed someone to the Reserve Bank board against whom there were serious allegations of tax evasion and participation in tax havens.
"He must outline the reasons why he chose to ignore the evidence that made Mr Gerard such an inappropriate appointment in the first place."
In a brief statement yesterday, Mr Gerard said he had "done nothing wrong and broken no law".
"This week has been aimed at destroying my reputation and damaging the Government," he said.
"The accusations made against me by the media have seriously affected my health and have brought unwanted attention to the board of the Reserve Bank of Australia.
"I have therefore tendered my resignation as a board member."
Soon after his resignation was announced, Mr Gerard's wife, Fay, told The Advertiser, "he's absolutely had enough. This is a persecution of a man's integrity and I'm not happy with South Australia, let alone the rest of Australia."
Mr Gerard has stated that Mr Costello knew of Gerard Industries' $150 million dispute with the Australian Taxation Office at the time of the board appointment and was not concerned.
But the Government has started distancing itself from the generous Liberal Party donor in recent days.
On Thursday, Mr Costello denied being aware of Mr Gerard's company tax dispute when the latter was appointed to the Reserve Bank board on March 25, 2003. At the time Gerard Industries, of which he was a director, was being pursued by the tax office for $150 million following a 14-year audit of an off-shore tax-haven set-up the ATO said was a "tax evasion" and "a sham".
Gerard Industries settled with the ATO for just over $75 million about six months after Mr Gerard's board appointment. The settlement cleared Mr Gerard of wrongdoing.
Mr Costello released only a brief statement announcing Woolworths boss Roger Corbett would fill the vacancy.
The Adelaide Football Club said Mr Gerard would continue as the Crows' number one ticket holder.
http://www.theadvertiser.news.com.au/common/story_page/0,5936,17442371%255E2682,00.html
SpringChoke
3 Dec 2005, 12:49
Reported yesterday and today that AFC's number one ticket holder Rob Gerard has resigned in controversial circumstances from the Reserve Bank of Australia board. Mr Gerard's wife has said that she is upset with South Australia and Australia in general. Rob Gerard has complained of health affects as a result of the controversy surrounding his appointment while under inverstigation for the tax affairs of Gerard Industries which were subsequently settled with a $75 million dollar payment. Mr Gerard has been a contributor to the Liberal Party over the years.
Obviously as number one ticket holder he has made significant financial contributions to the AFC. Will the controversy now surrounding him and the statement of disenchantment by his wife have any impact on AFC?
THE ADVERTISER
Gerard becomes Costello's fall guy
By PHILLIP COOREY
03dec05
ROBERT Gerard's resignation from the Reserve Bank board yesterday did not absolve Treasurer Peter Costello from appointing the Adelaide businessman to the post in the first place, Labor charged.
Mr Gerard, mid-way through a five-year appointment to the board, quit yesterday following an acrimonious week in federal Parliament in which his past company tax affairs were used to embarrass the Government.
"Mr Gerard has become the fall guy for Peter Costello's inappropriate appointment," Labor treasury spokesman Wayne Swan said.
"Peter Costello . . . appointed someone to the Reserve Bank board against whom there were serious allegations of tax evasion and participation in tax havens.
"He must outline the reasons why he chose to ignore the evidence that made Mr Gerard such an inappropriate appointment in the first place."
In a brief statement yesterday, Mr Gerard said he had "done nothing wrong and broken no law".
"This week has been aimed at destroying my reputation and damaging the Government," he said.
"The accusations made against me by the media have seriously affected my health and have brought unwanted attention to the board of the Reserve Bank of Australia.
"I have therefore tendered my resignation as a board member."
Soon after his resignation was announced, Mr Gerard's wife, Fay, told The Advertiser, "he's absolutely had enough. This is a persecution of a man's integrity and I'm not happy with South Australia, let alone the rest of Australia."
Mr Gerard has stated that Mr Costello knew of Gerard Industries' $150 million dispute with the Australian Taxation Office at the time of the board appointment and was not concerned.
But the Government has started distancing itself from the generous Liberal Party donor in recent days.
On Thursday, Mr Costello denied being aware of Mr Gerard's company tax dispute when the latter was appointed to the Reserve Bank board on March 25, 2003. At the time Gerard Industries, of which he was a director, was being pursued by the tax office for $150 million following a 14-year audit of an off-shore tax-haven set-up the ATO said was a "tax evasion" and "a sham".
Gerard Industries settled with the ATO for just over $75 million about six months after Mr Gerard's board appointment. The settlement cleared Mr Gerard of wrongdoing.
Mr Costello released only a brief statement announcing Woolworths boss Roger Corbett would fill the vacancy.
The Adelaide Football Club said Mr Gerard would continue as the Crows' number one ticket holder.
http://www.theadvertiser.news.com.au/common/story_page/0,5936,17442371%255E2682,00.html
Massive impact. Gerards run out of the backline will be sorely missed.:rolleyes:
darren pfieffer
3 Dec 2005, 13:54
Thanks for that one toots. Yes, for once you have found something factual (a copy and paste from the advertiser), but no you have not found anything that would at all bother us.
I am quite happy for him to resign from the board. Does it affect the AFC? No.
Will he still bring us money? Yes!
Thanks for the concern toots.
Just keep an eye on Alan Scott for us, who knows what he's up to at this very moment?
crazy_big_al
3 Dec 2005, 13:58
Joke
outback jack
3 Dec 2005, 15:38
Joke
agree he is. Surely he can do better than this.
now toots we have 50000 members and 40 odd thousand season ticket holders and you find one amongst them to troll on this board about.
congratulations, you skills at trolling have improved
from that of a reception student to year 4.
go buy yourself a copy of chockos childrens book ,it may further advance you in this massive intellectual growth you are experiencing.
Stiffy_18
3 Dec 2005, 17:33
Massive impact. Gerards run out of the backline will be sorely missed.:rolleyes:
:D :thumbsu:
Toots Hibbert
3 Dec 2005, 17:41
now toots we have 50000 members and 40 odd thousand season ticket holders and you find one amongst them to troll on this board about.
congratulations, you skills at trolling have improved
from that of a reception student to year 4.
go buy yourself a copy of chockos childrens book ,it may further advance you in this massive intellectual growth you are experiencing.
I'm sorry you take that attitude. Gerard is your number one ticket holder. These things can have an impact and are of interest to football followers just as much as when Alan Scott was found to have been defrauded by one of his employees that created interest on BigFooty because he was a sponsor of PAFC.
Gerard surely must be a major contributor to the Crows either as an individual or through the company he runs. I don't know the internal workings of the AFC but it seems possible that he would also be involved in AFC's internal politics. If such a player is distracted by controversy in his business dealings it's possible there may be ramifications for AFC.
I came here to see what discussion was going on and was surprised it had not been brought up. I'm interested in the thoughts of people here.
darren pfieffer
3 Dec 2005, 17:45
I came here to see what discussion was going on and was surprised it had not been brought up. I'm interested in the thoughts of people here.
heres my thoughts:
resigning from the reserve bank will have minimal impact on his business, as much of his work is done through Gerard Corporation (his family).
Adelaide does not rely on his funding, especially not like you guys do with Alan Scott (imagine the loss without alan), he is just a generous friend of the AFC.
Gerards resignation certainly will not affect on field performance, and therefore I cannot see what the ramifacations of him resigning will be on the AFC.
outback jack
3 Dec 2005, 17:47
I came here to see what discussion was going on and was surprised it had not been brought up. I'm interested in the thoughts of people here.
um, no you werent, you came here hoping to get a bite and it backfired. It beats dead crows atleast.:)
I wasn't even aware that the tax cheat was our number one.
What happened to Lleyton?
Snakeman66
3 Dec 2005, 21:12
I wasn't even aware that the tax cheat was our number one.
What happened to Lleyton?
I think you will find that alledged tax cheat is your Patron and your number 1 ticketholder was taking legal action against your dual Norm Smith Medalist.
This would make a great soapy!!!!!!!!!!
:confused: :confused: :confused:
Reported yesterday and today that AFC's number one ticket holder Rob Gerard has resigned in controversial circumstances from the Reserve Bank of Australia board. Mr Gerard's wife has said that she is upset with South Australia and Australia in general. Rob Gerard has complained of health affects as a result of the controversy surrounding his appointment while under inverstigation for the tax affairs of Gerard Industries which were subsequently settled with a $75 million dollar payment. Mr Gerard has been a contributor to the Liberal Party over the years.
Obviously as number one ticket holder he has made significant financial contributions to the AFC. Will the controversy now surrounding him and the statement of disenchantment by his wife have any impact on AFC?
I guess it will make it harder for the Crows to dictate interest rates now.
paul scholes
3 Dec 2005, 23:57
heres my thoughts:
resigning from the reserve bank will have minimal impact on his business, as much of his work is done through Gerard Corporation (his family).
Adelaide does not rely on his funding, especially not like you guys do with Alan Scott (imagine the loss without alan), he is just a generous friend of the AFC.
Gerards resignation certainly will not affect on field performance, and therefore I cannot see what the ramifacations of him resigning will be on the AFC.
your ''generous friend'' is a tax cheat period.
Powerstufff
4 Dec 2005, 03:01
Peter Costello, you were wrong! :p
Jumpin' Jimmy
4 Dec 2005, 06:33
Condoleezza Rice will now be appointed Crows #1 ticket holder ;)
Simply a matter of replacing one Con with another Con :p
Peter Costello, you were wrong! :p
Only fat, bitter, surly coaches wanting to have a sook after enduring years of humiliation and ridicule use that line.
I was under the impression that off-shore tax havens accounts were part of the norm for the so-called elitist class of Australians :confused:
If not then i better close the one i opened in 97 courtesy of the kingdom of Boogie Woogie.
Seriously though not a very good image for our club to be involved in & whats worse is that dear old Alex keeps on mentioning the AFC in/on the national media as a referee of note. :eek:
Still was very nice to see the Liberals under the rack & even little Johnny was squirming & stuttering about this morning on the ABC Insiders program.:thumbsu:
Powerstufff
4 Dec 2005, 09:17
Only fat, bitter, surly coaches wanting to have a sook after enduring years of humiliation and ridicule use that line.Nah I think you'll find it and many slight variants have been used in the media for the last week. Costello shows poor judgement again.
Peter this man was a self professed Cows supporter. Seriously, how many warnings do you need???
Markthirtytwo
4 Dec 2005, 11:52
I think you will find that alledged tax cheat is your Patron and your number 1 ticketholder was taking legal action against your dual Norm Smith Medalist.
I was wondering when someone would correct this anomoly.
Pitty the trolls down the road didnt do their research as much as the Ragvertiser reporter.
Oh thats right they did. ;)
outback jack
4 Dec 2005, 13:00
your ''generous friend'' is a tax cheat period.
so in a way he was taking money off your 'club' wasnt he?
I'm sorry you take that attitude. Gerard is your number one ticket holder. These things can have an impact and are of interest to football followers just as much as when Alan Scott was found to have been defrauded by one of his employees that created interest on BigFooty because he was a sponsor of PAFC.
Gerard surely must be a major contributor to the Crows either as an individual or through the company he runs. I don't know the internal workings of the AFC but it seems possible that he would also be involved in AFC's internal politics. If such a player is distracted by controversy in his business dealings it's possible there may be ramifications for AFC.
I came here to see what discussion was going on and was surprised it had not been brought up. I'm interested in the thoughts of people here.
For the record, the club has released a statement of support for Gerard, so no I don't think there will be any fall out. There has been no criminal offence committed and the disputed amounts have been settled, therefore no big deal. I find the use of tax havens reprehensible, as it robs the country of much needed revenue and further imposes the take from those who can least afford it, but unlike many others, at least he's here and not run away from his obligations. He has done the right thing in resigning from the RBA board and that should be that.
On another note Toots, I don't recall you cutting and pasting articles about Allan Scott's constant threats to the State Govt. about moving to Victoria if he's not given certain concessions etc. I suggest that you might want to do some homework, if you have raised this subject purely as a point of interest. How do you feel about your major sponsor being so anti South Australian? IMHO the PAFC will have paid a far higher price for associating with Allan Scott over the years, than we will have from our association with Robert Gerard. Robert Gerard does not divide opinion within the AFC and he never publicly comments on aspects of the club's operations and personnel.:)
Toots Hibbert
5 Dec 2005, 09:44
Fair question regarding Alan Scott but I've been involved in threads discussing him so if you're suggesting I've got double standards then you're wide of the mark. Not only that but Gerard Industries has moved some production off shore IIRC and I've made no comment on that until you raised that line of discussion.
The more I think about Gerard though the more annoyed I get about his situation. Companies structuring their affairs to minimise tax places extra burdens on individual citizens to make up the deficit.
Come to think of it AFC may well have been a beneficiary of this tax minimisation as it could have freed up money which was later directed to the Crows. :p
Fair question regarding Alan Scott but I've been involved in threads discussing him so if you're suggesting I've got double standards then you're wide of the mark.
The more I think about Gerard though the more annoyed I get about his situation. Companies structuring their affairs to minimise tax places extra burdens on individual citizens to make up the deficit.
Fair enough, but I find Scott's reputation to be of equal or more concern than Gerard because he has no concept of how to shut it at the appropriate time and is an abusive old ********.:)
As for the Gerard thing, I do agree, given that my business never seeks to pay any less than we are obliged to under law. I won't pay more than I have to, but I certainly don't actively look for loopholes or schemes to exploit the tax laws. As I said previously, it's greed that results in those who can least afford it getting slugged with the shortfall. I think it's absolute madness that the tax rates charged to individuals are so high adn that it has to be paid PAYG, unlike business that can utilise the capital to gain a return before they pay tax.
Anyway, probably more releveant to the SC&P board.:(
AFC #1 Ticket Holder = Alledged Tax Fraud
PAP Ticket holders (#2 to #25,000) = Likely Welfare Frauds
AFC #1 Ticket Holder = Alledged Tax Fraud
PAP Ticket holders (#2 to #25,000) = Likely Welfare Frauds
LMAO :D :D
Sorry but even with all the stereotypical jokes that may not be true it is still very funny
SpringChoke
5 Dec 2005, 11:28
AFC #1 Ticket Holder = Alledged Tax Fraud
PAP Ticket holders (#2 to #25,000) = Likely Welfare Frauds
:D :D
Stiffy_18
5 Dec 2005, 18:47
AFC #1 Ticket Holder = Alledged Tax Fraud
PAP Ticket holders (#2 to #25,000) = Likely Welfare Frauds
:D :D :D
Crowz Gal
5 Dec 2005, 19:44
AFC #1 Ticket Holder = Alledged Tax Fraud
PAP Ticket holders (#2 to #25,000) = Likely Welfare Frauds
HAHAHAHAHAHAHAHAHAHAHA:D
who is their no. 1 ticket holder???
:)
HAHAHAHAHAHAHAHAHAHAHA:D
who is their no. 1 ticket holder???
:)
Stuart o’grady but I could be wrong.
Stiffy_18
5 Dec 2005, 19:48
HAHAHAHAHAHAHAHAHAHAHA:D
who is their no. 1 ticket holder???
:)
Isn't it Stuart O'Grady?????? :confused:
Stiffy_18
5 Dec 2005, 19:49
Stuart o’grady but I could be wrong.
snap
Roominant
5 Dec 2005, 19:51
AFC #1 Ticket Holder = Alledged Tax Fraud
PAP Ticket holders (#2 to #25,000) = Likely Welfare Frauds
Hehehe. :D
Seriously though I don't understand why AFC felt the need to issue a statement of support for Rob Gerard. He's supposed to have been investegated for avoidng 150 million dollars and settled for 75 million. Those are some big numbers. With us siding with him it tarnishes the clubs image I think.
Stiffy_18
5 Dec 2005, 19:53
Hehehe. :D
Seriously though I don't understand why AFC felt the need to issue a statement of support for Rob Gerard. He's supposed to have been investegated for avoidng 150 million dollars and settled for 75 million. Those are some big numbers. With us siding with him it tarnishes the clubs image I think.
We were forced to issue a statement because the club just had enough of media calling in and asking if we will continue our association with Rob Gerard. They though, one way to put an end to all the pestering is to issue a media release.
Crow-mosone
5 Dec 2005, 20:00
I was under the impression that off-shore tax havens accounts were part of the norm for the so-called elitist class of Australians :confused:
even your money needs a holiday sometime, I hear Belize is nice this time of year :D
Crowz Gal
5 Dec 2005, 20:02
Isn't it Stuart O'Grady?????? :confused:
Thought it might be him
I cant see why its a big deal (in terms if the AFC side of things) what do all season ticket Holders need background checks???
Wouldnt really have thought twice about it, till this thread appeared.
:)
Robert Gerard company merely did something that is now common practice! SELF INSURANCE.
if he did the exact same thing today he would have to meet a hell of a lot of requirements but it would be fine.
He is a great bloke and doesnt deserve the mud that is being flung at him.
He is a man that i have great admiration and respect for, I sincerely hope that this experience doesn't sour his outlook on life.
Markthirtytwo
6 Dec 2005, 08:00
Robert Gerard company merely did something that is now common practice! SELF INSURANCE.
if he did the exact same thing today he would have to meet a hell of a lot of requirements but it would be fine.
He is a great bloke and doesnt deserve the mud that is being flung at him.
He is a man that i have great admiration and respect for, I sincerely hope that this experience doesn't sour his outlook on life.
Except he supports that other team that wears blue. :(
even your money needs a holiday sometime, I hear Belize is nice this time of year :D
My money wouldn't even be enough to pay for the air fares to Belize.:(
Robert Gerard company merely did something that is now common practice! SELF INSURANCE.
if he did the exact same thing today he would have to meet a hell of a lot of requirements but it would be fine.
He is a great bloke and doesnt deserve the mud that is being flung at him.
He is a man that i have great admiration and respect for, I sincerely hope that this experience doesn't sour his outlook on life.
I'm sure he is a nice bloke as i'm sure many of us thought that other high fliers of the past were great blokes but in the world of politics if you are heavily involved in one of the major parties then you become fair game.
The media regardless of which way they lean in this country would see this story as a big juicy plumb to devour.
Markthirtytwo
6 Dec 2005, 16:24
The media regardless of which way they lean in this country would see this story as a big juicy plumb to devour.
Done and dusted. ;)
arrowman
6 Dec 2005, 16:53
Robert Gerard company merely did something that is now common practice! SELF INSURANCE...All due respect to our Patron, but that is not what he was accused of doing.
Self-insurers don't pay premiums to themselves and then claim a tax deduction.
Crow-mosone
6 Dec 2005, 19:31
All due respect to our Patron, but that is not what he was accused of doing.
Self-insurers don't pay premiums to themselves and then claim a tax deduction.
depending on the corporate structures, that is exactly what they do.
Markthirtytwo
7 Dec 2005, 08:28
depending on the corporate structures, that is exactly what they do.
Something must have stunk in Denmark for his company ala him to have such a huge tax payment.
Makes sense now why he restructured his company and sold the big one.
Toots Hibbert
17 Feb 2006, 11:08
Thought I'd bump this thread in response to another thread referring to Enron. Clearly if any club in South Australia is Enron-like it's AFC with it's number one ticket holder having to repay $75 million dollars to Australian tax payers in a settlement with the ATO. It's always best to have a bit of perspective is it not? :cool:
Thought I'd bump this thread in response to another thread referring to Enron. Clearly if any club in South Australia is Enron-like it's AFC with it's number one ticket holder having to repay $75 million dollars to Australian tax payers in a settlement with the ATO. It's always best to have a bit of perspective is it not? :cool:
Bloody hell Toots are you getting desperate or what !!! :eek: :D
SpringChoke
17 Feb 2006, 11:51
Thought I'd bump this thread in response to another thread referring to Enron. Clearly if any club in South Australia is Enron-like it's AFC with it's number one ticket holder having to repay $75 million dollars to Australian tax payers in a settlement with the ATO. It's always best to have a bit of perspective is it not? :cool:
Speaking of cover ups and fines..............:cool:
Truck Rutten
17 Feb 2006, 12:12
What's Lleyton done now? He's our #1 ticket holder. Rob Gerard is Patron, whatever that entails.
Toots Hibbert
17 Feb 2006, 12:53
Bloody hell Toots are you getting desperate or what !!! :eek: :D
It's your board and your rules noddy. When Chokie mentioned Enron and Worldcom I thought it was the done thing to bring up the tax evasion controversy surrounding your patron. Glass houses and all that. ;)
crows98
17 Feb 2006, 13:08
It's your board and your rules noddy. When Chokie mentioned Enron and Worldcom I thought it was the done thing to bring up the tax evasion controversy surrounding your patron. Glass houses and all that. ;)
Thanks for that
Must set the video for the glasshouse tonight before I forget.
11:20pm ABC Friday nights
The Glasshouse
best show on TV.
outback jack
17 Feb 2006, 13:21
It's your board and your rules noddy. When Chokie mentioned Enron and Worldcom I thought it was the done thing to bring up the tax evasion controversy surrounding your patron. Glass houses and all that. ;)
thats a very odd connection to make, unless you hold a grudge of course.:confused:
thats a very odd connection to make, unless you hold a grudge of course.:confused:
your not far of the mark jack
toots got a bit upset yesterday on the port board in the carey vs granger thread and brought up this subject in trying to stick up for grangers narcotic issues.
kind of anti social actually :eek:
Crow-mo
17 Feb 2006, 19:48
Thought I'd bump this thread in response to another thread referring to Enron. Clearly if any club in South Australia is Enron-like it's AFC with it's number one ticket holder having to repay $75 million dollars to Australian tax payers in a settlement with the ATO. It's always best to have a bit of perspective is it not? :cool:
Toots,
you leave the corporate thinking to others, don't want you getting confused now ;)
Kristof
18 Feb 2006, 00:11
Toots, I'm all for posts that can needle opposition supporters, but this is pretty weak. You should feel embarrassed about this one, not your best work at all.
Maybe you should argue how weak the original comparison between Enron and Port is, instead of trying to draw a parallel to this.
macca23
18 Feb 2006, 00:17
Toots,
you leave the corporate thinking to others, don't want you getting confused now ;)
No no no no Crow-mo.
Toots should leave all thinking to others. :p
I'm sure the carers at his institution would say that this is what his medication is for. :D
Toots Hibbert
18 Feb 2006, 23:01
Toots,
you leave the corporate thinking to others, don't want you getting confused now ;)
Maaate! Aren't you the guy who got himself into a tangle on the issue of Cash versus Accruals accounting a while back? ;)
Crow-mo
19 Feb 2006, 02:28
Maaate! Aren't you the guy who got himself into a tangle on the issue of Cash versus Accruals accounting a while back? ;)
no.
though I think you admitted you didn't understand at the time, so how odd for you to claim you do now ;)
Toots Hibbert
19 Feb 2006, 10:19
no.
though I think you admitted you didn't understand at the time, so how odd for you to claim you do now ;)
I don't know much about the intricacies of ski jumping either, dear boy. However after I watched it for a while I found I could tell the difference between Eddie "The Eagle" Edwards and Matti Nykanen. :)
Crow-mo
20 Feb 2006, 06:46
I don't know much about the intricacies of ski jumping either, dear boy. However after I watched it for a while I found I could tell the difference between Eddie "The Eagle" Edwards and Matti Nykanen. :)
no worries, just send me your credit card details and I'll explain it for you.
on the metre of course ;)
Toots Hibbert
20 Feb 2006, 08:35
no worries, just send me your credit card details and I'll explain it for you.
on the metre of course ;)
That's actually funny but if I wanted to further my knowledge I'd be looking for ski jumper not a "ski dropper".