EDITORIAL: Trouble ahead for Clive Palmer
ARE we about to see the demise of Clive Palmer?
The larger-than-life mining tycoon seems to have hit some tough times in his business, and that could also mean trouble for his political career.
Late last week, Mr Palmer's Queensland Nickel business told 200 workers they would lose their jobs as the price of nickel hit 15-year lows.
Incredibly, Mr Palmer tried to deflect some of the blame towards the Queensland government, which rejected his approach for a $35million loan to help the business through the tough times.
This was despite reports Queensland Nickel had given as much as $21 million to Mr Palmer's political party, Palmer United Party.
And yesterday administrators were called into the business to try to get it going in the right direction.
In a statement, managing director Clive Mensink said he believed the troubled nickel refinery could continue to trade out of administration.
Hopefully for those financially linked to the nickel business that optimism is well placed, but with a hard year forecast for many in business, and gloomy news coming out of China, it might not be so easy for Mr Palmer to find a way to recovery.
Certainly ongoing business pressures might mean his political career needs to be put aside for the sake of his financial investments.
As they say, the bigger they are the harder they fall.