THE BYRON SHIRE Volume 23 #20 Tuesday, October 21, 2008 Mullumbimby 02 6684 1777 Byron Bay 02 6685 5222 Fax 02 6684 1719 editor@echo.net.au adcopy@echo.net.au www.echo.net.au 22,700 copies every week
page 18-19
IDEAS BULL MARKET
Rally for breast cancer awareness Noeline Brown and lighthouse fun run help promote active ageing Story & photo Eve Jeffery
Byron Bay Breast Cancer Support Group Lindy McCollum, Sue Halvorsen, Norma Forrest, Jan Barham, Judy Sunshine and Barb Pinter at Saturday’s awareness day. With this field of pink lady silhouettes in the foreground about 30 people joined hands at Byron’s Railway Park to observe a moment’s silence in support of those living with breast cancer. Photo Jeff Dawson.
Byron Councillors reassured on CDO exposure in investment portfolio Byron Shire Council held a workshop last week to provide advice to Councillors on the current investment portfolio, Council’s investment strategy and the impact on future budgets. Councillors were addressed by representatives of the Investor Services Group for Markets of the ANZ Bank, who informed councillors on the technical aspects of investments held and provided answers to any investment and market related questions. According to a Council press release, the banking representatives confirmed that Byron Shire Council was not one of the councils that had handed over the management of funds to Lehman Brothers and now found themselves facing probable capital losses and taking legal action against the com-
pany. The workshop identified that while Council held a number of Collateralised Debt Obligations (CDOs) which were currently not liquid, adequate funds were held in other investments to finance the delivery of budgeted outcomes in future years. Kevin Franey of Thomas Noble and Russell, Council’s auditors, also addressed the Councillors to assure them that the decisions made by staff relating to the investment of Council funds were compliant with the Department of Local Government Ministerial Guidelines. However, Mr Franey advised that due to technical accounting issues relating to the current non-existent market for CDO products, Council’s financial report for the year to June 30 would be quali-
fied. Mr Franey stressed that the qualification was not a reflection on the investments themselves, but related to the situation whereby the valuations for CDO investments provided to Council at June 30 were unable to be calibrated to the market at that time, as required by Australian Accounting Standards. Council’s Manager Financial Services, Jim Bolger, advised that of the $13m face value of CDOs held by Council at the commencement of the market downturn in December 2007, $5m had subsequently matured at full face value with all interest being paid. This included a CDO with a face value of $2m which matured during October 2008. ‘While no guarantees can be given on any investments,
Noeline Brown, Ambassador for the Ageing, joined the Byron Lighthouse Fun Run and Walk on Sunday to help raise awareness and funds for the Cancer Council and to promote active ageing. Noeline was appointed as Australia’s first Ambassador for Ageing in April this year by Federal Minister for Ageing and local MP Justine Elliott. A major aim of this important role is to promote positive ageing and at this event, to encourage the whole community from fitness enthusiasts to the not-so-fit to join in a 10 km fun run or walk from Main Beach to the Lighthouse and back via Tallow Beach. ‘It’s clearly better to have an ageing population which is healthy, active and involved,’ said Noeline at the opening of the event. ‘One of the really important parts of my role is encouraging older Australians to remain active, both physically and as contributors to society. ‘Staying active and involved enhances your quality of life and the health benefits you receive from exercise will serve you well for many years to come. ‘This event is a way to take
Ambassador for the Ageing, actress Noeline Brown, with event organiser Lisa Parkes with youngest race participant Liam after the 10k Lighthouse Run.
part in active ageing and it’s fantastic to be contributing to such a great cause.’ Noeline became a household name in the 1960s when she starred in The Mavis Bramston Show. More recent-
ly Noeline appeared in the hit Australian film Razzle Dazzle and in the TV series Dancing with the Stars and in 2005 she wrote her autobiography, Noeline Brown – Long Term Memoir.
Opportunity to give blood in the Bay
The Australian Red Cross Blood Service (ARCBS) will be at Byron District Hospital on Monday October 27, 2pm– 6.30pm and Tuesday 28, 10am – 2pm. Call 13 14 95 to make an appointment or visit www. donateblood.com.au. Kerryn York, Director of continued on page 2 Nursing for Byron and Mul-
lumbimby Hospitals, was instrumental in helping the ARCBS find a home for its mobile service in Byron Bay. Blood donors need to be between 16 and 70 years old, weigh over 45kg (50 if you are under 18), feel fit and healthy, haven’t had a tattoo or body piercing in the last 12 months,
or haven’t lived in the UK between 1980 and 1996 for six months or more. In an average 12 month period more than 430,000 Australians require blood or a blood product: 30% of blood collected goes to help people with cancer, 15% helps people with heart disease.
GYM HOURS There’s never been a better time to join the gym
Monday – Thursday
B Y R O N G Y M ’ S FA M I LY M E M B E R S H I P
6am – 9pm
Join us today on a Premium or a Flexible membership and encourage 1 or more family members to join you for only $10.50 extra/week each. For the first 20 people to take up this offer we’ll waive the joining fee also. Fully equipped weights room. 34 fabulous classes per week (including Yoga). Relaxed friendly environment. Offer ends 7th November 2008.
Friday
6am – 8pm Saturday 7am – 1:30pm Sunday
12pm – 6pm