- Since the sale was no longer viable, the ACT Government has stopped the sale process and will now move quickly to wind down Rhodium rather than short-change the ACT community on the sale of this business. The Government will take steps to ensure that the transfer to the new arrangement will be as seamless as possible for those people currently leasing vehicles through Rhodium. The Government is, of course, disappointed that a sale could not be negotiated. Unfortunate as this conclusion may be, it is a commercial reality that not all sales negotiations come to fruition; particularly when subject to such extraordinary shifts in world-wide financial market circumstances
Still, some nice work for some mates along the way and the dog to be safely buried before the election.
UPDATE: Brendan Smyth is thoroughly enjoying putting the boot in.
- “The ACT has a Chief Minister who could not run a car park at a profit, who couldn’t build a dual carriageway GDE and now who can’t sell a vehicle leasing company… Once again, the Chief Minister has failed to accept responsibility for a problem that is largely of his making – and the Chief Minister’s failure is again proving costly to the ACT.”