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Monthly Archives: June 2019

Stockland tips earnings slide

Written on June 20, 2019 at 13:42, by

Sales volumes in Victoria have halved.PROPERTY company Stockland says profits may slump by 10 per cent this year as it struggles with sales in the ”worst new housing market” in more than 20 years.
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The company is facing a ”deep cyclical low” and tough conditions in Victoria, the location of its most profitable residential estates, managing director Matthew Quinn told the annual meeting yesterday.

”Profit in our residential business is expected to be around $50 million lower this year than last year with potential downside of a further $30 million if conditions in Victoria don’t improve,” Mr Quinn said.

Sales volumes in the state had halved and aggressive discounting was required to clear stock, he said.

The company’s woes follow yesterday’s release of Australian Bureau of Statistics figures showing the value of private residential building work fell to $10.47 billion in the June quarter, a 10-year low.

But the ABS figures also showed that, as spending on residential building slowed, engineering construction was still powering along at historic highs of $22.45 billion.

Over the past four years, Stockland has refocused on its residential, retail and retirement businesses, all of which are affected by the cautious consumers of today.

Its net profit of $487 million for 2011-12 was down 35.5 per cent from the previous year.

Home buyers were still focused on paying off debt, he said.

”We started the year with around 700 fewer contracts on hand than the previous year, reflecting the sluggish market in FY12, and so far we are not seeing any improvement.”

But the company’s 41 shopping centres, valued at more than $5 billion, were making above-industry-average returns and would deliver future growth. Profit margins were likely to improve in 2013-14, although it would take ”two to three years of good volume and price growth to restore our margins back to historical levels”, Mr Quinn said.

Chairman Graham Bradley told shareholders the search for a replacement for Mr Quinn, who leaves the company early next year, was ”progressing well”.

Stockland’s shares closed down 13¢ yesterday to $3.42. Other property companies, including Mirvac, GPT and Australand, also fell marginally.

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Kloppers warns miners must cut costs, lift game

Written on June 20, 2019 at 13:42, by

AUSTRALIA’S high-cost, low-productivity economy will be untenable in the coming era of slower Chinese growth, according to BHP Billiton chief Marius Kloppers.
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In an address to the Brisbane Mining Club, Mr Kloppers said mining companies could no longer afford to choose volume growth at the expense of rising costs given commodity prices were moderating and the sector had entered a period where cost cutting and productivity improvements would take precedence.

Mr Kloppers said productivity was the best indicator of long-term wealth in a society, but Australia’s rates had been declining since the late 1990s and had slipped into reverse for many of the past eight years.

”This should be a concern for all of us, because as markets revert to more sustainable levels, our relative competitiveness will be the key to maintaining the economic advantage our resources endowment naturally provides,” he said.

Mr Kloppers reiterated his view that no company could consider investing in Queensland’s huge coal sector given the current low prices, high costs and rising royalty rates. But he went further to suggest new investment in any part of the mining sector looked unlikely in current conditions.

”The next round of minerals investments in Australia will, almost without exception, be captured only if costs are decreased and productivity is improved. Companies and governments need to work in partnership towards attracting the next rounds of investments,” he said.

The comments will not surprise the thousands of former employees whose jobs have already been cut this year by BHP, and other miners such as Xstrata and Rio Tinto.

BHP has previously warned the ”tailwind” of high commodity prices was no longer blowing at the back of Australian miners, and Mr Kloppers said the gap between supply and demand for many commodities was closing fast.

”What we are now witnessing is the rebalancing of supply and demand and a progressive recalibration of prices back to long-term sustainable pricing levels,” he said. In a swipe at Queensland’s decision to increase royalties, Mr Kloppers said it was unfortunate the commodity slowdown had coincided with rising imposts from government.

He listed regulatory reform alongside stability in taxation and workplace laws at the top of the sector’s wish-list.

BHP has attempted to buffer itself from a slowdown in iron ore and coal by expanding other divisions, particularly petroleum, the focus of yesterday’s September-quarter results.

The petroleum division produced a record volume of petroleum products during the three months. Iron ore production was lower, while coking coal production dramatically outstripped volumes sold. Copper production was higher but below analyst expectations.

BHP closed 38¢ higher at $33.45.

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Buyback, profit forecast push CSL to record high

Written on June 20, 2019 at 13:42, by

SHARES in CSL touched a record high yesterday, as the blood plasma and vaccine company announced yet another share buyback and reaffirmed guidance for 12 per cent annual profit growth.
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Speaking at its annual meeting, chairman John Shine said CSL would buy back another $900 million of shares, or 4 per cent of issued capital, over the next year.

The Melbourne-based company also reaffirmed its forecast of 12 per cent profit growth this financial year, taking annual revenue to $US5 billion.

Speaking at his last AGM, chief executive and managing director Brian McNamee drew attention to CSL’s growth since he joined Commonwealth Serum Laboratories in 1990. CSL is now capitalised at $24 billion and recently reported its first $US1 billion profit, on $US4.6 billion of revenue.

”We certainly believe internally that the milestone of achieving $US1 billion NPAT [net profit after tax] was a significant milestone for the company. When many of us look back at where we started from, obtaining a billion dollars in revenue was certainly a significant achievement,” Dr McNamee said.

His comments came after UBS healthcare analysts Andrew Goodsall and Dan Hurren boosted their rating on CSL to ”buy” from ”neutral”, with an increased share-price target of $52. In a note to clients titled ”Upgrade FY14 – it’s all about the volume”, the pair tipped CSL would outperform industry plasma growth, leading to a 3 per cent increase in earnings a share.

Dr McNamee said after the AGM he intended to take on a new role in 2014, after handing over the top job to Paul Perreault mid next year.

Mr Perreault is president of CSL’s biggest revenue earner, plasma product arm CSL Behring.

The departing CEO was lauded by Professor Shine, the Australian Shareholders Association and retail shareholders for his ”outstanding qualities” and ”brilliance” at the 85-minute meeting, held at the National Tennis Centre.

CSL shares closed 2.1 per cent, or 97¢, higher yesterday at $47.71.

They are 49 per cent higher in the year to date, well above analysts’ 12-month price target of $44.52, according to Bloomberg.

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Isabella headed for stardom

Written on June 20, 2019 at 13:42, by

Craig Newitt rides Isabella Snowflake to victory in the Superior Food Services Handicap.CAULFIELD WRAP
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ONE of the most impressive winners yesterday and certainly one with the strangest name was Isabella Snowflake, who is now unbeaten in two runs and is heading for a stakes race at Flemington on Oaks day.

Co-breeder Craig McDonald explained how a filly by Not A Single Doubt out of Tiamo Baby could have such a name, and he gave all the credit to his daughter, Caitlyn. ”We were driving out to see the horse one day and I said, we’ve got to come up with a name for her, and my daughter Caitlyn was very keen on calling her Isabella,” he said.

”I told her that she had a star on her forehead, but when Caitlyn saw her she said it wasn’t a star, it was a snowflake. So there was the name, Isabella Snowflake.”

The filly, who won on debut at Flemington in June, jumped straight to the front yesterday as the $2.45 favourite and strolled home to win by three lengths.Daring Boss is rewarded

GLEN Boss proved again that he was the in-form rider of the spring when he surged further in front on the jockeys’ premiership after a brilliant ride on Ava’s Delight to win the BMW Handicap.

Boss, who leads the Melbourne premiership by five winners over reigning champion Luke Nolen, made a lightning mid-race move on the filly yesterday from back in the field to sit outside the leader before kicking clear on straightening and holding off the favourite, Super Cool.

”She wasn’t going to win from back there with that tempo, so I took off and made something happen,” Boss said. ”Fortunately, I had the horse to do it.”Dwyer, Rodd back in vogue

IT HAS been nine years since Michael Rodd claimed the Magic Millions Classic on Regimental Gal for trainer Shaun Dwyer, and the trainer, who is now based in Bendigo, suspects the pair might enjoy similar results with filly Villa Verde, who won the Debutants Stakes on debut.

”I haven’t had a horse like her since Reggie [Regimental Gal], probably,” Dwyer said. ”Pre-race she’s showed me a lot more than Reggie but potential and performance can be two different things.”

Villa Verde ($15) sat third before sprinting clear to win.Free Wheeling towards Emirates

THE Darley team yesterday produced a group 1 contender when Free Wheeling returned to racing with a commanding win in the Hair And Beauty Stakes.

Trainer Peter Snowden said that as the horse raced in Queensland during the winter, it was decided to give him a three-race spring program, culminating with the $1 million group 1 Emirates Stakes.

”I think he’s in for a good prep judging on that effort,” Snowden said. ”He’ll go to 1400 metres on Victoria Derby day and then back up a week later into the Emirates.”

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When the going gets tough, Oliver gets going

Written on June 20, 2019 at 13:42, by

DAMIEN Oliver has risen to great heights before when burdened with a heavy heart. Yesterday it was his reputation that was ailing, and again he climbed into the saddle.
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And, at least for a few precious moments, he blew the dark clouds away. A decade after riding Media Puzzle to victory in the Melbourne Cup while mourning the brother he had lost days earlier, Oliver is at the centre of betting allegations that have cast a pall over the spring carnival, and could jeopardise his great career.

His win in the Thousand Guineas at Caulfield was one for the believers, even if the biggest test may be yet to come.

”Everyone has tough times in their life, it’s how you respond to those tough times that counts,” Oliver said after steering Commanding Jewel to an easy win, his fifth in the group 1 race.

He said the support shown by the filly’s trainer, Leon Corstens, and chief owner, Brad Spicer, was ”overwhelming”, a pointed contrast to those who have distanced themselves from him in recent days.

”Each to their own, so be it. It’s during tough times where you know the people who are really going to stick by you.”

Oliver’s latest tough times surfaced when The Sunday Age hit the streets last weekend, containing claims that he wagered $10,000 on the favourite, Miss Octopussy, to beat his own mount in a race at Moonee Valley in 2010.

A Racing Victoria investigation into this and allegations against other leading jockeys continues.

The saga has polarised the racing industry. Last night, Oliver and high-profile owner Terry Henderson exchanged heated words before the stewards after the jockey filed a claim for compensation over Henderson stripping him of the Caulfield and Melbourne Cup rides on My Quest For Peace.

Henderson agreed that he had given a ”firm” commitment to Oliver for the rides, but hinged his case on the jockey’s refusal to declare his innocence. Stewards will rule before Saturday’s Caulfield Cup.

Lloyd Williams also withdrew an offer for Oliver to ride Cox Plate hopeful Green Moon, and Sheikh Mohammed’s Darley operation has looked elsewhere, but others have painted Oliver as a victim and questioned the timing of the allegations.

”All this crap always seems to come out right when the spring carnival starts,” trainer Tony Vasil said yesterday, after Oliver rode his gelding The Wingman into sixth in his first of three rides for the day. ”I’ll be sticking with him.”

So is Corstens, who was moved to tears by Oliver’s win. The veteran trainer said he had ”been there before”, and knew what the jockey was going through, a reference to Corstens’ guilty findings for using banned substances on his horses.

Asked if he had misgivings over Oliver taking yesterday’s ride, Corstens said: ”He’s the best rider in Australia, so why would I have second thoughts?” The jockey put a comforting arm on the trainer’s back when Corstens welled up during the Thousand Guineas presentation.

Spicer reported that Oliver had rung on Sunday to assure Commanding Jewel’s owners.

He said he would not have switched to another jockey ”for anyone in the world”, echoing the conviction of other trainers and owners that the accused is innocent until proved guilty.

Oliver was composed and courteous after the race, his 95th group 1 triumph, explaining his knack for producing under pressure – which he reiterated to Henderson in front of the stewards – by saying he felt more comfortable on a horse than anywhere.

Veteran Sydney jockey Jim Cassidy, who is also implicated in the widespread investigation for allegedly receiving payments from a prominent underworld informer, pushed through the media surrounding his colleague and said: ”Good onya, Olly!”

The sentiment was shared by many in the crowd.

”Leon and Brad and all the other people who’ve stuck by us, I can’t thank them enough,” Oliver said.

He was relieved to be on a winner again, but knowing that this particular race is far from run.

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New tool for breast cancer patients

Written on June 20, 2019 at 13:36, by

Sarah Fawdry is hopeful a new tool will help women faced with difficult decisions about their bodies after surgery for breast cancer. Picture: NONI HYETTFor Bendigo mother-of-two Sarah Fawdry, there was no indecision in having a mastectomy.
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The 46-year-old had three cancer tumors in one breast.

Deciding how she wanted her body to look after thesurgery was cause for reflection.

“For my own mental wellbeing, as well as physical wellbeing, it was important for me to remain as normal as possible,” Ms Fawdrysaid.

She opted for a partial breast reconstruction, for the reassurance of havingsomeformon her chest.

In a few months, she’ll have the temporary tissue expanders removed and replaced with implants.

Ms Fawdry has been assured she’ll feel betterafter the surgery than she did before.

But 20 –30 per cent of Australian women have felt regret after deciding whether or not to have breast reconstruction.

The same research showed the regret had a physiological impact on the women, according to the Breast Cancer Network Australia.

A new onlinetool has been developed to help guide already stressed women through the decision-making process.

The Breast Reconstruction Decision Aid, or BRECONDA, asks women a series of questions and provides information about thedifferent surgical options available.

It covers stress management and strategies for communicating their decision to family members.

BRECONDA is hosted on the BCNA website and available free of charge.

Associate Professor Kerry Sherman and her team at Macquarie University, in Sydney, considered the many layers of decision making women faced when contemplating breast reconstruction as they developed the tool.

“BRECONDA does not encourage women one way or the other, rather it helps to guide them through the decision making process,” Associate Professor Sherman said.

Ms Fawdry was hopeful the tool would help women considering a breast reconstruction make an informed decision.

“When you are diagnosed with cancer you get so much information thrown at you,” she said.

One of the most helpful pieces of advice she was given was to be aware of where the information was, to draw upon as needed.

She also advised cancer patients to bring someone supportive with them to their appointments.

“Because you’ve got so much going through your head,” Ms Fawdry said.

Sarah Fawdry said the biggest thing during her journey with breast cancer was having a positive attitude about what she was doing. Picture: NONI HYETT

Having a strong relationship with her breast cancer surgeon, Jane O’Brien, had helped her to make informed decisions.

“She was able to explain things quite simply,” Ms Fawdry said.

She was also thankful for the advice of plastic surgeon Hamish Farrow andBendigo-based breast cancer specialist Rob Blum.

“The biggest thing is having a positive attitude about everything you’re doing,” Ms Fawdry said.

The support from her breast cancer nurses –one in Bendigo, the other in Melbourne –had been fantastic.

The friendship she has found since learning of the Pink nTeals Cancer Support Group, in Bendigo, has also been invaluable.

The group welcomes women witha breast or ovarian cancer diagnosis.

BRECONDA is available at 梧桐夜网bcna.org419论坛/resource/breconda

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‘What sort of animal comes to the door and shoots a man?’

Written on June 20, 2019 at 13:36, by

Former partner Carly Stewart with eldest son Dylan Salafia, both continue to grieve the tragic loss of Johnny Salafia.Unsolved murdersof the Illawarra and South CoastIt has been three and a half years since Johnny Salafia was shot at point-blank rangeon the front doorstep of his South Coast home at Kings Point.
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In a split second, his family lost a father, a brother, a husband and a son.

His brazen killer remains at large.

Carly Stewart, Johnny’s ex-wife and the mother of his oldest son Dylan, described her former partner as “larger than life” saying he had a “massive heart”.

“He was the first person to stand up and defend anyone if something was wrong,” she said.

In his early life, the 38-year-old cement renderer was swayed byfriends to jointhe outlaw Rebels Motorcycle Club.

Johnny Salafia, 38, was murdered on his front doorstep on June 23, 2013 while his wife and two daughters were inside. No one has ever been charged for his murder. Image: supplied.

It was a brief flirtation in the early 2000’s claimsCarly Stewart, with hismembership of the outlaw ganglasting only six months.

On June 23, 2013 -a Sunday night – 38-year-old Johnny, his wife Sara, their two young daughters and Dylan had spent the evening at the cinemas watching Despicable Me 2.

Dylan was dropped home at Carly’s house.

He told his mother he’d never seen his father so happy.

“They were going to take a family photo that night, but unfortunately the moment was missed,” Carly said.

Carly StewartMilton Ulladulla Times.

Moments later, two shots rang out, shattering the still night.

Johnny was shot twice in the head and chest. He died where he fell.

In an instant, the lives of the extended Salafia’s family was forever changed.

Carly still clearly remembers police arriving at her door at 4am and delivering the horrific news.

Police examined the homicide scene the following day, June 24, 2013, at the Kings Point address.

“Them [police] saying Johnny had been killed was the moment which shattered our whole lives,” Carly said.

“It changed everything for everybody.”

No one has ever been charged over Johnny’s murder, despite a dedicated strike force, codename Hobler, being formed to investigate the killing.

Now, as the days have given way to months and years, Carly says Johnny’s family has been left with a hole that can never be filled.

“We all try and band together and make Christmas, birthdays and Father’s Days special but it is not the same,” Carly said.

“There is an empty chair at the table.”

The question of why anyone would want to hurt Johnny Salafia has haunted the family ever since the murder.

The extended family of Johnny Salafia continue to mourn his death.

“What sort of animal comes to the door and shoots a man?” Carly asked.

“They wanted to hurt John. But the thing is John didn’t know he died, they hurt all of us.”

Police appeal for anyone who does have any information about the murder, to contact Crime Stoppers on 1800 333 000.

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Only natural for Neil FinnWeekender

Written on June 20, 2019 at 13:36, by

Lifelong passion: Neil Finn is working on a new record, set for release this year but before that will perform in Devonport at Skyfields at the Bluff on March 11. Neil Finn isemphatic.
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“Oh hell yeah”,the legendary Crowded House front man said.

That’s hisresponse to beingasked if music was still “it” for him.

“I don’t really know how to do anything else; and I’m stillas fascinated and as compelled to do itnowas I ever was. I won’t be stopping any time soon,” he said.

But he doesn’t play it safe, he explores and he gives more and wants to do this better.

Finn reveals Nick Seymour, of Crowded House, willjoinhimwhen he headlines the second Skyfields outdoor concert –this one’s at the picturesque Bluff headland in Devonport, on March 11. Promoter Dave Sykes isexpected to announce another high profile gig at theBluff in October, if the first one does well – which itshould with Finn and support act, songstress MegMac to sell tickets.

“We’ll be able to do the Crowded House stuff justice at the Bluff along with everything else…,” Finn said.

Often when you meet the person behind thelegend itcan be less than hoped for– but withFinn the fascination onlygrows.

Speaking from home in Auckland after amorning walk, he’scheerful and chatty, although hemust have been asked all thesesame questions so many times hedoesn’t show it.

How would hedefine hissound?

He’s “still exploring it as alifelong process” and intends to up until his last breath. Finn isreputed to have beennamed by Paul McCartney as the best living songwriter in the world and George Harrisonallegedly said Crowded House playedthe music the Beatles would beplaying if still together.

Finn doesn’t know if the McCartney claim is correct but he’s met McCartney and knows he isa fanof Crowded House’s music. Asked how his own sound comparesto Crowded House,hesays: “they’re all wrapped up with each other.”

Star act: Finn plays “better be home soon” while on his knees at the end of his Falls Festival set on December 31 2013. Picture: Scott Gelston.

“The sound of Crowded House is obviously affected by the way Nick Seymour plays bass…particularly back in the day with Paul Hester playing drumswe had a real band sound that was evident.”

He says hissongs all come about in the same way.

“It’s just another angle, you know, with my songs dressed up in different clothing. I guess withsoloalbums I can do more diverse arrangements, given I can work with anybody I wantand sometimes I can play the bass lines and even drum myself sometimes,although I’m pretty poor at that.

“It just means the songs have slightly different colours and textures – but I see them as part of a continuum really.”

In house: Neil Finn and Nick Seymour, of Crowded House, will play together at Skyfields at the Bluff, along with Finn’s son Elroy, also in his father’s band. Picture: Scott Gelston.

Finn writes exquisite songs.

To mix things upfor his third solo albumDizzy Heightshe went with wife Sharon (bass) and sons Liam (guitar) and Elroy (drums)to upstate New York to record songs he’d composed in his Auckland studio, Roundhead,withproducer Dave Fridmann. Known for his “quite mad production aesthetic”, says Finn.

“He gets a great sound in a traditional way but he really loves upsetting the equilibrium…I think that’s a good thing, to keep challenging myself, opening a few new doorways,” Finnsays.

“I didn’t want to make it a solo record in a stripped back singer-songwriter sort of way.”

Finn said Fridmann isgood at “subverting things, and making things sound a bit messed up and not as obvious, rather than being too tasteful, which is always a temptation”.

The precociously talented brothers Finn -NeilandTim(six-years-older), from Te Awamutu, New Zealand, providedmusical entertainment at their parentspartieswith their mother Mary leading the fray on piano. Tim gained the famefirst when he formed Kiwiprog rock outfit Split Enz with a university mate.

Looking on it was very inspiring,” Neil said and at14 he saw Timas ahero up there withthe Beatles. He felt lucky to be part of it later.

At the time, Neilwas at home listening toDavid Bowie andRoxy Music.

“Prior, itwas Neil Young, James Taylor,Carol King whoseTapestryrecord was very influential – apart from the Beatles, Stones and the usual suspects…”

When Neil joined Split Enz, at 19,it altered the dynamics.Hepenned their first worldwide hitI Got You, followed by more great songs from both Finnsbut the bandnever became super huge.​Tim left andNeil stayed until it ended. Heformed Crowded House with the two Aussies,Seymour, and PaulHester who also played with Split Enz,tomassive international success. Later Tim joined Crowded House but leftwhen it did not work as well live. He performed at the recent Sydney Opera House concerts.

​On theproposition, New Zealand seems to havea lot of uniquely creative people on the world stage, Finnsays it might be the isolation and being far enough away to see things in a slightly more fanciful way.“And there’s a lot of eccentric people in New Zealand – sometimes you think they’re allowed to be because of our isolation from the hard-edged nature of most people in modern cities overseas.”

He doesn’t think that muchabout why Crowded House iscalled an Australian band. “You’re lucky enough to find a bunch of people who enjoy playing -in the early days it was two Australians and one New Zealander and we formed in Melbourne. I find it quite flattering and endearing…it’s like being invited into another family; and I lived in Australia for 14 yearsso to be considered one of them, I just find it really kind of lovely. People in New Zealand sometimes get a little bugged…and perhaps it’s of passing annoyance to a couple of people in Australia – but mostly people accept it like we do.”

Finn said it wastough to recruit a drummer when Crowded House reformed feeling apull to hang out with each other after the suicideof the infectiously “amazing, amusing and engaging”, Paul Hester, at 46.

”I can never accept itin a way,” Finn says of hisdeath.

“I can accept it from a point of view of getting on with your lifebut italways leaves a strange and troubling thought in your head – he was my best friend…

“You’re always asking yourself questions of how it might have been different – in the end it can’t be, so you accept it, but it’s a difficult thing. You don’t ever really shake the idea it shouldn’t have had to happen.”

Finn said he hadn’t seen Hesteras much after he left the band and lived in Melbourne. He said Hester“had some troubles” and was increasingly agoraphobic.

Talk switches topreparing for the Opera House forecourt concerts with Matt Sherrod on drums.

“I had a feeling we’d rise to it but I was quite blown away by how good it felt,” Finn admits.

“The audiences were so pumped up…and the band is playing better than ever– it’s funny because you can let a few years go by and come back andstrangely you just seem to be even better than you were.”

Crowded House hadeven more nuance and feeling in the music, somehow. Finnsaid he would never takefor granted how loved the bandwas in Australia.

“It’s a huge blessing. You can’t build that relationship except for over a long period of time, so it means something significant – it’s not a flash in the pan.

“And I’m lucky enough to play in a variety of different ways, with my brother, and others, and completely solo on occasions with just a guitar,and the songs speak to people anyway.

“What’s nice about the show in Tassie, is I’m going to be able to work through the Crowded House songbook,play songs from Split Enz andmy solo work…”

Finn says Tassie seems like the most New Zealand part of Australia.

“There’s something very similar about the landscape and even the mentality of it.”

He looks forward to comingtomake music that makes people have experiences,beinspired maybe or take some comfort.

When you’re thisgood at music and words it’sa valuable thing for the world.

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