As the final annual reports trickle in, the truly horrific picture of just how much Australia’s richest CEOs were paid last year is being fully revealed.
The rich
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Rich pickings: luxury firms retreat to the elite
This videographic from The Economist shows why the producers of luxury goods — who briefly flirted with the cashed-up aspirational middle class — are likely to retreat to their traditional super-rich clients.
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Luxury market loses its lustre
Faberge has returned with a new collection and they’re asking an ambitious $US7 million for a brooch. But how’s the luxury market doing more generally in the downturn? Poorly, says James Thomson.
And the rich get poorer
The global recession is hitting home with rich people too, says Daniel Indiviglio. Even if no-one wants to hear about it. Bankruptcies in the US were up 73% on a year earlier. Yes, the rich have debt too.
Gridiron: the sport of billionaires
It’s easy to scoff at the rich buying football teams. But it’s not all about vanity — it’s serious investment and America’s NFL has turned several nine-figure moguls into billionaires, says Steven Bertoni.
Truffle market falls to earth
In 2007, Macau casino billionaire Stanley Ho paid $330,000 for a 1.5-kilogram truffle in 2007. But with luxury now a dirty word, this year’s white truffle season looks set to be a stinker, says Katie Workman.
Flying commercial: it’s not easy being rich
“Ordinary people haven’t the faintest conception of the strain we had to endure daily.” Author Tom Wolfe’s fictional high-flier laments the loss of the corporate jet.
Socialitopoly!
Manhattan’s rich socialites are bored — no-one’s throwing parties any more. So Vanity Fair is indulging their need for amusement with a board game. Get your Louboutins and take stroll down Park Avenue.
The rich list of Australian politics
Almost all of Australia’s extremely wealthy sit on one side of the political divide, but that doesn’t make for a one-sided political scene. Interesting, says John Warhurst.
Why do the media hate the rich?
The credit crunch has made excess unfashionable. But luxury industries have enriched society not only economically, but also intellectually, technologically, and culturally, say (luxury mag) Robb Report’s editors.
The recession: friendship killer
Because of the downturn, friendships between two people whose Saturday-night spending and overall class status used to calibrate precisely have now turned into trickier relationships, says Emily Bazelon.
Your Say: Daily Mail readers' feedback: Banks respond to Crikey’s article
Will Rayner, Head of Investor Relations, Bendigo and Adelaide Bank Limited, responds to Crikey article: Bendigo and Adelaide should come clean on MIS.
Filthy rich people meet in secret to solve GFC
Earlier this month Bill and Melinda Gates, Oprah, Ted Turner, Warren Buffett and others met in New York City in secret to try and figure out how to solve the GFC.
The rich eat themselves
A collapse in wealth means the world’s billionaires could soon be doing it tough.
