Collapsing markets have shown once more that the multi-national firms paid millions of dollars to audit public companies financial statements have been asleep on the job, writes Adam Schwab.
Babcock and Brown
Golden Circle finally falls to foreigners after B&B plunder
Iconic Queensland pineapple cannery and fruit juicer Golden Circle is finally being sold to a food multinational — Heinz, writes Michael Pascoe.
ASX complicity on the “Macquarie Model” under the pump
The ASX Guidance Note talks tough on future floats but this is largely irrelevant because the “Macquarie Model” is a dead parrot., writes Stephen Mayne.
Corporate come-uppances: How the mighty have fallen
With the long awaited collapse of the Babcock & Brown virtually all the charlatans have now fallen back to earth, with only Macquarie emerging, severely bruised but for the time being, still standing, writes Adam Schwab.
How much did the UBS cheerleaders make out of Babcock?
Swiss investment banking giant UBS has long been the preferred adviser to Babcock & Brown and they have pocketed well over $50 million in fees, writes Stephen Mayne.
Oz Minerals’ disgraceful ex gratia payment
While Phil Green and Babcock provided cover, Oz Minerals yesterday quietly announced one of the most disgraceful ex gratia payments ever seen by an ASX company, writes Adam Schwab.
The Green brothers: a tale of greed and envy
Only last year, Phil Green was worth more than $500 million. Now, he has been pushed from his role as CEO and his wealth is probably less than $50 million, subject to debt, writes Adam Schwab.
Nosworthy gets a promotion as Phil Green departs
Babcock & Brown stalwart Elizabeth Nosworthy has been promoted to chairperson of the struggling investment bank, writes Adam Schwab.
Babcock shuffles the deck chairs as shares plummet
Which suits play where doesn’t really matter too much when you’re dealing with $50 billion in debt and a crisis of investor confidence, writes Stephen Mayne.
Babcock flick passes new Children’s Hospital to tax haven
Babcock and Brown has sold its stake in Victoria’s new $1.1 billion Royal Children’s Hospital, the state’s biggest ever public private partnership, writes Stephen Mayne.
Babcock holds the line as debt-laden funds hit new lows
It seems bizarre for Babcock & Brown to have a $750 million net profit forecast when about half of this is expected to come from one deal. Stephen Mayne reports.
Briefly Business: MFS Octaviar, Craig McDermott, B&B
MFS/Octaviar has officially reached rock bottom … McDermott bowled out by cash woes … Babcock & Brown (B&B) is in the sights of US private equity … Get your own internet domain
Transurban triggers debt-laden infrastructure fund wipe-out
The chairman of Transurban and ABC Learning, accountant David Ryan, is under severe pressure today after shares in the tollroad giant initially plunged by more than 20%, writes Stephen Mayne.
Transurban shows Babcock how it’s done
In these troubled times it is all about who has got the debt and where the cash flows, writes Stephen Mayne.
Can clean energy deliver Babcock a true wind fall?
Babcock & Brown Winsdis the jewel in the Babcock crown and a great Australian success story that is now being partially offloaded, writes Stephen Mayne.
Briefly Business: Green deposed, trading Ten, wind farms for sale
Falling off the Rich List … Fears of irregular trading in Ten … NSW the home of bad borrowers … Allco looking to offload wind assets … Likewise Babcock.
Babcock & Brown bites back
Dear Stephen, about that so-called “impending Babcock & Brown collapse”…
Can Babcock pull off a PR counter-offensive?
Engaging with media commentators is one thing, convincing market analysts is another writes Stephen Mayne.
Without their reputation, Babcock & Brown are stuffed
Banks can talk all they like about assets and liquidity, but their share prices are almost 100% reputation, writes Glenn Dyer.
B&B Wind directors buffeted by the storm
How bemusing that Phil Green’s Babcock and Brown has suddenly found the idea of independent chairmen such a good idea, writes Michael Pascoe.
Babcock and Brown Power blacks out
Could Babcock and Brown Power be the second of its investment offshoots to be “rescued” or bailed out? Glenn Dyer writes.
Briefly Business: Babcock and Brown, Destra, Opes Prime
Babcock and Brown’s broadband bow out. The investment bank, Babcock and Brown, has ruled itself out of bidding for the Federal Government’s broadband network, a move said to be a “blow” to Canberra. It’s not hard to work out why Babcock isn’t interested: it’s in Australia, not in Britain or Europe where it can quite […]
A 211-page report? What does Babcock & Brown have to hide?
It’s often a fair assumption that the longer the Annual Report, the more the company wants to hide the nasty stuff, writes Adam Schwab.
Tips and rumours
They’re not a happy bunch at Fairfax’s Bendigo Advertiser. Recently, the MEAA announced it had discovered reporters had not been paid penalty rates for evening and weekend shifts for the past few years. General Manager Peter Dehnert’s response: “We must have overlooked it”. But it’s not just non-editorial management… recently appointed editor Peter Kennedy (three-time […]
Babcock’s desperate $220m share placement
There is an awful lot of aggressive spinning going on as debt-laden companies battle the new reality of the global credit crunch, writes Stephen Mayne.
