The Right Hand Column

Latest turncoat to the Left, is F.A.R.T. (For All Racist Tours) founder Sandy King. Seems Sandy got carried away in his enthusiasm at the recent Law Fac. AGM and voted against his own motion calling for Support for the Tour.

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Thinking of buying a flat, then pop down to one of the local legal beagles, in your best gear, but looking like a toiler prepared to renovate the place. You will find they will finance you up to $20,000 on a $500 deposit, provided you sell the place in 3 months (at a profit of course). Even to a reactionary like myself the system seems sick when this sort of carry on is allowed, especially as no tax is paid on profits (something called Capital Gain by accountants, but exploitation by others). If by chance you do get pulled up by Tax department, who can investigate if they think you are doing this for a living, merely transfer every second title to your "wife" Sounds simple? It is. . .

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Meanwhile back on the Hill, I see we have appointed a new Accommodation Officer at the annual SRC farce of appointing reps. Wonder what he will do with the $50,000 Nigel Taylor has been sitting on (in trust for our Accommodation, for the past 5 or so years). An interesting exercise here for accountants to work out what this money is worth in real terms.

Assume for every 10,000 you can borrow $40,000 makes our little nest egg worth say $250,000 in borrowing power. Now if this had been invested 5 years ago in flats, and let at normal rates, plus the resultant capital gain — say 100% at 209% per year, it would turn our $50,000 into $300,000. Seems somehow we missed the bus. But don't despair, in the meantime the $50,000 has no doubt been loaned to those nice speculators so that they can provide flats for us.

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Reminds me of our President of 2 years ago, Margaret Bryson, who was persuaded to look at some flats at the bottom of Mount Street, the place with the dairy, which we could have bought for $25,000. She turned it down together with the place next door for a similar amount, even though the council offered to throw in Mount Street itself when it was closed off. One of the factors affecting this decision was the distrusting condition of the place next door to the dairy, which was full of overseas students. I here were some 30 of them. 3 to-a room, which gave a fantastic return to an Eastbourne butcher who leased it off an accountant, who then leased oft the guy who owned it but wanted to sell because too much needed to be spent on it to make it habitable. Point is that less than two years later these two properties on our back door are worth an estimated $75,000. Make you sick"

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Was down at Civic Square the first Friday of Festival '73, and stayed there till about 12.30am. Had to leave then as it wasn't safe. Fact of the matter was that if you were while, you didn't stand a chance, as the Mogrel Mob took over the street. Saw one unfortunate White bikey get his head literally kicked in by agroup of at least 20 (very brave they were too), as he unsuspectingly made his way across the street to the bandstand. Fortunately he was pulled to safety by a group of us, but we did not dare to help him whilst he was on the ground as no doubt this would have been exactly what the Mongrels were waiting for. I doubt if this is the last of this sort of thing, which makes you wonder what will happen next.

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Great little article by Roger Green a few Salients ago on the Gubay business Did you shed a tear for Unilever, and the fair deal they offered Gubay? No need to worry. Roger's father is marketing manager tor Unilever, so we couldn't call it biased could we. Actually we shouldn't knock Roger, because at least he has the gumption to write for Salient, which is more than some of the knockers around here.

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If you feel strongly about something, or you have a bit of info., drop it into Salient in a sealed envelope, marked Right Hand Column and we will look into it for you The purpose of this column is to disclose twins of news that might normally not be disclosed by Salient for reasons known only to the editors.