The worst business model in the worldUmair Haque reckons he’s found the worst business model in the world — a company offering short-term loans with a 3000% interest rate. So why are three top venture funds are already investing in them?
Short term loans
Centro calamity: $5 billion in equity destroyed today
Centro Properties today assumed a prominent role in the global credit crunch when a series of shock announcements caused the destruction of $5 billion in largely Australian savings in one morning. If our second biggest shopping centre company can’t survive, is anyone safe? asks Stephen Mayne.
Crikey Says: Crikey Says
Sitting comfortably Mr Rudd? Across the books yet Mr Swan? Could be quite a year ahead.
RBA boss Glenn Stevens: He came, he spent, he soothed
He came, he spoke, he soothed. I am talking about Reserve Bank Governor, Glenn Stevens, whose calm, bald-pated central banker visage fronted the House of Reps Standing Committee on Finance and Economics this morning on the Gold Coast and said the right things, writes Glenn Dyer.
