One little mercy FKP didn't tumble all the way

IT WAS always going to happen, given the steep discount offered on its 2.3 for 1 rights issue to shareholders, but yesterday's 28 per cent fall in the share price of FKP still made for an unpleasant experience for the property group.

Rail travel a bargain

THE lungs of Sydney are provided by three great saving graces: the extensive network of parks and gardens, the harbour and ocean, and the rail system. In the past year, there were 305 million passenger journeys taken on CityRail, an increase of 3.9 per cent over the previous 12 months. Every one of those journeys was subsidised by the State Government, and the subsidy is significant 70 per cent. It may seem like an extravagance, but we think the rail system pays for itself, and more.