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Week in brief July 10 2012
It’s only been a week and a bit since the Carbon Tax was introduced and the issue of carbon price hiking has already made headlines in the mainstream media with popular bakery franchise Brumby's getting dragged through the mud after it was revealed its MD Deane Priest circulated an internal memo suggesting franchisees increase prices during June and July and, “let the carbon tax take the blame”. The gaffe cost Priest his job, and the ABC reports that Brumby’s has since moved onto the defensive, taking out print advertisements and engaging a social media expert to respond to customer concerns. The Federal Government has also chimed in with a warning that businesses face fines of up to $1.1 million if they make misleading claims about price impacts. For tips on avoiding such missteps, keep a close eye on this ACCC website.
The Australian Securities and Investments Commission (ASIC) has launched a new website through which notices on insolvency and other matters will now be published. The publication of corporate insolvency notices on a single, publicly available website will benefit creditors of companies in external administration by making it easier for them to access information. The stand-alone website provides a single point for searching almost all notices on external administration and company deregistration, formerly advertised in the print media. The website, which can be found at www.insolvencynotices.asic.gov.au is expected to replace 53,000 newspaper advertisements over the next four years.
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