New rules for the megaphones. It’s been 12 years since John Laws and Alan Jones faced the cash-for-comment inquiry, but the Australian Communications and Media Authority is still firming up its rules on sponsor disclosure information.

The ACMA released new commercial radio standards yesterday for how on-air presenters spruik products and services from sponsors, to take effect May 1, including a provision that presenters will not only have to disclose “presenter agreements” but also “licensee agreements” (a known loophole).

But in good news for our favourite Megaphones, ACMA has granted more flexibility to how presenters identify their sponsor arrangements, rather than having to refer to the one of six currently approved scripted statements.

Big bankers slumming it. The Millionaires Factory, aka Macquarie Bank, can buy a lot of things for its employees. But it can’t always buy business class travel.

The bank’s staff have been increasingly slumming it with the rabble on flights, according to The Australian Financial Review today, with some even having to stoop to travelling on low-cost airlines like Jetstar and Virgin Austraila.

It’s all part of an unofficial management campaign to rein in travel-related spending, that comes on top of the 626 jobs that were cut in 2011, and will soon see some of its support roles undertaken offshore in the Philippines.

Oakeshott’s shot at Hadley. Independent Rob Oakeshott has taken to Ray Hadley’s most despised form of communication to take a shot at Hadley himself: Twitter.

The member for Lynne and brunt of much of Hadley’s morning vitriol yesterday told his 8715 followers overnight: “RHadleys ‘show’ has accused me today of ‘hiding behind twitter’. How does this compare to hiding behind a microphone? Discuss.”

Needless to say, the discussion Oakeshott requested wasn’t completely in favour of the MP.

Mike Smith’s big stand for Australia. ANZ chief Mike Smith’s recent efforts suggest he deserves a higher place up the Money Movers power list than the 8th spot we gave him late last year.

The man who stood up to the Reserve Bank of Australia has now stood up for the Australian housing market, telling a bunch of investors in Hong Kong that all’s hunky dory down under.

During his presentation yesterday, Smith said Australian mortgage owners are in a good position to pay back their debts and noted all the differences between the US and Australian housing markets, according to The Sydney Morning Herald. Nothing to be worried about here.

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Peter Fray
Peter Fray
Editor-in-chief of Crikey
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