HQ: Citadel of NUW power still in the news

5486631mm1229990460 The National Union of Workers former headquarters in North Melbourne is one of several assets in the now stricken $500 million financial empire of Cairns spivs Emmanuel and Julie Cassimatis.

The owners of the building – the NUW’s most excellent super fund LUCRF – shrewdly sold the property for $6.75 million to the highly geared Cairns pair in September last year after moving into a shiny happy new facility in Melbourne’s Docklands.

The old HQ was the scene of much political intrigue, the demise of much loved State Secretary Dennis Lennen, the rise and fall of Greg Sword, the soaring career of Antonia Parkes, the ultimately unsuccessful move against former NUW boss Simon Crean in his seat of Hotham and the never ending story of his Sword successor Charlie Donnelly who doubles as State Party President and prior to Christmas engineered an abortive coup against Stephen Newnham, the ALP’s state secretary. If those walls could talk…

Some NUW sources told VEXNEWS emphatically that Newnham would be out by December 31. Nearly two weeks on it appears he isn’t going anywhere.

Others say the NUW boss was less than impressed by being “led down the garden path” by 1 Treasury staff and state caucus members and “won’t be doing anyone’s dirty work anymore.” Fair enough too.

Back in Cairns, the Cassimatis’s were known for very splendid offices themselves, with today’s Fin Review reporting on the “opulent male and female bathrooms, which reportedly included antique style fittings designed by Mrs Cassimatis” herself.

The dunnies were “likened more to a five-star hotel in Paris than a financial services company head office.” The company was known for encouraging clients to borrow extensively against their assets and buy into index funds, pocketing a 7% upfront fee on the total invested. Sweet. But now those extra wide heated vibrating commodes will only be useful for flushing down particularly sensitive shredding.

One of the Cassimatis crew told the Townsville Bulletin (the Bully to its friends) that the toilets were “in another stratosphere”. The dynamic duo were inspired by visiting restaurants and finding while many of them looked “fabulous” and had great food, the toilets were “atrocious”, suggesting that the kitchens might not be much better.

The Cassimatis empire is now under administration after the Commonwealth Bank pulled the pin on their grenade. Liquidators can in certain circumstances reverse uncommercial transactions entered into prior to their appointment, but that seems highly unlikely in this case.

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10 Comments

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10 responses to “HQ: Citadel of NUW power still in the news

  1. no no

    You don’t want to know what Greg Sword did in those toilets to receptionists…

  2. Anonymous

    Steve Newnham is an outstanding State Secretary. His wife is equally outstanding, fending off an attack from the Greens in Northcote at the last state election, and organising the brilliant ALP victory for the Darebin Council, reducing Greens repesentation to only one. Great work Stephen. Great work Fiona. May you both have a long reign.

  3. Anonymous

    Stephen Newnham has lost the support of his own faction and will not remain State Secretary much longer

  4. tHE jOKER

    It’d a hoot to see a good-news NUW story!

    I know…”Charlie Donnelly resigns”

    Now, that’s be great news!

  5. Chairman Mao

    Better still joker “charles donnelly run over by tram”!

  6. That don't impress me much

    Bye bye

  7. Biff

    You muppets need a Marvellous Captain

  8. tHE jOKER

    I wonder if Charlie hosed out all the shit left over from his stay in that building?

    I really do think that instead of a shiny new Docklands building Charlie, Antony, Timmy and Co should have bought a mo-fo big Winnibago camper.

  9. the building inspector

    dont matter what building donnellys in he will wreck it

  10. tHE jOKER - THE REAL ONE

    Have a read of this, all you proud Victorians and Yes voters, tell us what you think….

    PACIFIC BRANDS EXECUTIVE MUST BE REMOVED AS LUCRF SUPER FUND DIRECTOR
    March 6, 2009
    MEDIA RELEASE FRIDAY MARCH 6TH 2009

    A Joint statement from:

    Mr. Derrick Belan, NUW (NSW Branch) State Secretary

    Mr. John Cosgrove, NUW (Queensland Branch) State Secretary

    Mr. Nick Thredgold, NUW (South Australia Branch) State Secretary

    Mr. Joe Bullock, NUW (Western Australia Branch) State Secretary

    As the State Leaders of the National Union Of Workers (NUW) in NSW, Queensland, South Australia and Western Australia, we are seeking a commitment from NUW General Secretary Charlie Donnelly, in his role as the Chairman of the LUCRF Superannuation Fund to remove Mr. Ted Eftimiadis as a director of the LUCRF board of Directors. As Mr. Eftimiadis is also the Employee Relations Manager of Pacific Brands, we feel his position as a director of LUCRF Super is inappropriate & untenable.

    In light of the recent decision reached by Pacific Brands to terminate the employment of 1,850 workers, we feel it is an insult to those sacked workers and to the working people who keep their superannuation with LUCRF Super to have an executive of Pacific Brands in a paid position on the fund’s board.

    It is important that industry superannuation funds, of which LUCRF was the first in Australia, to have directors who reflect the standards and values of the working people who entrust these organisations to be custodians of their retirement funds.

    Considering the actions of Pacific Brands, we feel it is entirely appropriate to ask Mr. Donnelly to remove Mr. Eftimiadis from the LUCRF board. Furthermore, we regret that Mr. Donnelly does not see the inconsistency in Mr. Ted Eftimiadis being a director of an industry Super fund and an executive of a company that so ruthlessly sought to terminate the employment of so many Australians.

    Ends.

    This was on the http://www.handsoffourunion.com site

    what do you think? More power to charlie? Or his mates????

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