Clive Palmer endures fortnight from hell with raft of new troubles
FROM a refinery explosion to the sale of his luxury jet, every day seems to bring a fresh drama for embattled billionaire and politician Clive Palmer.
CAN’T billionaire politician Clive Palmer catch a break?
As his minerals empire crumbles around him, and his political career hits the skids, things are going from bad to worse for the embattled Palmer United Party leader.
Drama began to engulf Mr Palmer in January when his Queensland Nickel company spiralled into voluntary administration and slashed 237 jobs at its Yabulu refinery near Townsville.
Within days, unflattering opinion polls suggested Mr Palmer had lost so much support as the federal member for Fairfax he may as well not bother contesting the seat at the next election.
Since then, every day has seemed to bring a wealth of new problems for Mr Palmer, who stands to show that when you have everything, you have everything to lose.
This has been Clive Palmer’s fortnight from hell.
HIS EQUIPMENT’S BEING FLOGGED OFF
Queensland Nickel went into voluntary administration last month with an estimated debt of about $70 million.
The company’s financial position was so woeful, its administrators FTI Consulting admitted it didn’t have the cash to pay the entitlements of the company’s 237 sacked workers, sparking outrage.
On Monday last week, FTI Consulting revealed Queensland Nickel was haemorrhaging a massive $1 million a week, and was now forced to sell off the refinery’s equipment to keep it afloat.
Three 2014 Freightliner trucks, painted in yellow — the Palmer United Party’s signature colour — as well as a compactor and excavator were among the pieces of equipment to be put up for auction, The Courier Mail reported.
PART OF HIS REFINERY ACTUALLY BLEW UP
The next day, an explosion rocked one of 12 nickel roasters at the Yabulu refinery.
The explosion was likely the result of a gas build up in the roaster, probably because it had been out of use for a few weeks, and no one was hurt.
But the incident raised questions about the standards of safety at the refinery since it went into voluntary administration in January.
Documents leaked to The Australian newspaper revealed a number of safety concerns that would cost up to $30 million to address, including roof panels allegedly containing asbestos.
A spokesman for FTI Consulting admitted “there was work to be done” but stressed that the refinery was operating safety.
HE’S HAD A DOSE OF HUMBLE PIE
As his list of woes grew, Mr Palmer was papped on Thursday last week zipping around Sydney in a cab — a far cry from the luxury cars he’s more accustomed to.
The embattled billionaire hailed the taxi, like any of we plebs often do, after dining at Sushi Train restaurant in Sydney’s CBD.
The day before, Mr Palmer had called on the government to boost the number of women in parliament, however an unflattering analysis has revealed the Palmer United Party stood fewer female candidates than any mainstream party at the last election.
Of the Palmer United Party party candidates, 82 per cent were men, compared with 78 per cent for the Liberal Party, the analysis revealed.
HE’S BID FAREWELL TO HIS PRIVATE JET
There’s little wonder Mr Palmer is hailing taxis.
On Tuesday, creditors resolved to place his aviation company into liquidation, adding that its sole asset, a $40 million Bombardier Global Express Aircraft, would be put up for sale.
The private jet was used Mr Palmer to spruik his political career and is emblazoned with the logo of his Palmer United Party.
The jet is worth up to $34 million second-hand and is registered in the tax haven of the Isle of Man, according to The Australian.
Mr Palmer’s aviation company Palmer Aviation is owned by QNI resources, one of the parent companies of Queensland Nickel.
It was placed into voluntary administration along with Queensland Nickel last month.
HE MIGHT LOSE HIS COWS AND DINOSAURS
Today brought fresh dramas for Mr Palmer, with administrators at Queensland Nickel revealing they’ve added his central Queensland cattle station to a “hit list” of assets marked for quick sale.
According to The Australian, the 6255ha cattle grazing station near Rockhampton will be listed for auction in the coming months.
Mr Palmer’s company QNI Metals bought Mamelon Station in 2010 for a whopping $8.2 million, and experts believe it will sell at a significant loss.
It’s been impacted by crippling drought affecting most of the state of Queensland.
And it’s unclear whether administrators will also look at selling off Palmer Coolum Resort, and the vintage car collection and the animatronic dinosaur park in it.
HE’S BEEN MADE A BAD EXAMPLE
Legislation passed through the House of Representatives yesterday designed to reduce the likelihood of micro-parties getting elected to the Senate through preference deals. The proposed changes are now bound for Senate.
Embarrassingly for Mr Palmer, his small party was held as an example for why the reforms were necessary.
“There has been a lot of concern in Queensland about the rise of Clive Palmer and the influence that he’s had over a number of senators,” government frontbencher Peter Dutton told parliament.
The Palmer United Party took Australia’s political scene by storm in the 2013 federal election, scoring one seat in the lower house — Mr Palmer’s seat of Fairfax — and three Senate seats.
It held the balance of power in the Senate for a while, however PUP Senators Jacqui Lambie and Glenn Lazarus later quit the party.
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