ROIMove over Eddie Obeid, there’s a new man in town whose investment prowess may just be the best the world has ever seen.

In the continuing ICAC hearings into corruption and profiteering by prominent union officials  we have been hearing all about Ian Maitland’s, a former CFEMU National President, amazing business accumen.

Turns out that Mr Maitland gained a 9000% return on his initial investment of $165,000.  That converts to a grand total of $15 MILLION. From 160 grand.

WOW! Seems like it really pays off to have friends in the right places.

Friends like Ian MacDonald, the disgraced former NSW ALP Minister, who coincidentally is also pretty chummy with Eddie Obeid. And we all know about that dont we? 

The Daily Telegraph has more on the former CFEMU National President’s convenient relationship with the NSW Minister for Mates Rates

OVER a meal of suckling pig, oysters, duck and top-of-the-range red, Ian Macdonald signed away a mining licence that put millions in the pockets of his union mates, a corruption inquiry heard yesterday.

It was an $1800 “signing ceremony” at the exclusive Catalina restaurant which saw one of the men involved in the deal, upon learning of the potential size of the Hunter Valley resource, boast “you will understand why I can’t wipe the smile off my face, merry bloody Christmas”.

And these people purport to represent the workers and their best interests.

All they care about are themselves and lining their pockets.