Otago Daily Times - Air NZ freezes salaries of top executives

National air carrier Air New Zealand Ltd says it is freezing the salaries of its most senior executives and reviewing its non-essential operations.

Pay increases for managers on individual contracts will be achieved through a headcount reduction or increased productivity, chief executive Rob Fyfe said in a statement.

Air New Zealand has 20 top executives in this country earning more than $250,000 each, with two earning over $800,000 and one on $1.6 million a year.

But they can earn more if they fire people. Tell me again why firing maintenance staff should earn a reward for management, I must have missed something there.

NZ Herald - Hunted fuel-pill peddler made same claim in NZ 16 years ago

A man who attracted more than $80 million from investors marketing a "fuel saving petrol pill" in Australia was referred to the New Zealand Commerce Commission for claims he made with a similar product 16 years ago.

Tim Johnston, 51, chairman of the company Firepower, which bought Australia's leading basketball team the Sydney Kings, is being sought by authorities.

It is suspected he is living an upmarket life in London.

News.com.au, Daily Telegraph - Servos caught holding back petrol on cheaper fuel nights

PETROL stations have been caught red handed holding back cheap fuel - forcing families to pay higher prices later in the weekly "discount" cycle.

Thousands of motorists have been lining up on Tuesday nights as bowsers suddenly appear "out of use" during the cheapest time of the week.

The Age - State admits transport strategy is a failure

THE 25-year blueprint for Victoria's overloaded road and public transport system — priced at $10.5 billion — has failed to develop key transport strategies, the State Government has conceded.

The admission about the 2006 Government transport strategy comes as Premier John Brumby oversees a new plan for the state's transport needs.

Stuff.co.nz, The Nelson Mail - Fuel thieves hit pumps and vehicles

Skyrocketing prices have caused fuel thefts to double in the Nelson region, and police are urging people to secure their supplies.

The Age - Vic could 'spearhead' low carbon economy

Victoria is well-placed to spearhead Australia's drive towards a low carbon economy, the federal government's chief climate change adviser says.

Speaking prior to a public forum to promote his draft report on tackling climate change, Professor Ross Garnaut said Australia and the world were facing major changes and challenges in reducing emissions.

But, he said, the states and cities best-placed to steer the global push towards low carbon economies were those with the skills and capacities in managing, financing and engineering the resources sector, with Melbourne and Victoria leading the way.

Farm Online, Stock & Land - Oil madness to only help wool

With synthetics being a competitor to some broader apparel wool, growers should take heart that record petrol prices are not all bad news.

AWI market intelligence chief economist, Paul Deane, says the wool to synthetic price ratio is presently at about 3.6:1 and the wool to cotton ratio is 4.8:1.

"Wool is currently looking more competitive from a price point of view," Mr Deane said.

SMH - Garnaut's diabolical tax problem

Ross Garnaut's ''diabolical problem'' will consume debate for some time to come. That the fine line can be trod, however, between needless destruction of wealth and the transformation to a sustainable economy is not out of the question.

When Garnaut said Australia had a diabolical problem he wasn't referring to rising sea levels or receding glaciers. Rather, it was the dilemma of needing to tax industry for carbon dioxide emissions when the emissions of this country alone can have no meaningful effect on the global problem of climate change.

ABC - Victorian Premier John Brumby says up to six solar energy plants could be built across Victoria.

A solar plant will be built in north-west Victoria, but Mr Brumby, who is in Bendigo today, says the region is well placed to have more.

ABC - Gas crisis to cost industry billions of dollars: CCI

A shortage of gas in Western Australia due to an explosion at Apache Energy's off-shore processing plant is predicted to cost industry more than $6 billion.

ABC - Power supply under threat

new report shows Victoria could experience electricity shortages under an Emissions Trading Scheme.

The State Government's latest Infrastructure Audit says the private sector will be reluctant to invest in new power infrastructure in an uncertain market.

According to the report, this would result in possible shortages in electricity supply, especially during summer peak periods.

Energy Networks Association Chief Executive, Andrew Blyth, says the report highlights the need for a carbon scheme that will reduce risk for energy generators.