Stephen Mayne — Journalist and Founder

Stephen Mayne

Journalist and Founder

Stephen Mayne founded Crikey in February 2000, and has remained as a contributor since selling it in 2005. He’s a former political staffer and local government councillor who also pursues shareholder advocacy as a director of the Australian Shareholders’ Association and campaigns broadly for transparency and accountability across the media, business and political sectors.

Latest

Murdoch v Mayne: the final confrontation

May 16, 2007

Rupert Murdoch’s charm offensive with the Bancroft family, controllers of Dow Jones, has now extended to offering them a News Corp board seat if the $US6 billon takeover proceeds. Rupert hopefully rediscovered overnight that shareholders have to elect directors when he received my fax nominating for the board at this year’s AGM in New York.

Macquarie Bank takes over the world, profits handsomely

May 15, 2007

Macquarie Bank has this morning unveiled its biggest ever earnings surge, lifting 2007 net profit by 60% to $1.46 billion – more than 6 times what it was making just five years. The conversion of the Millionaires Factory into the world’s biggest private equity firm now sees a global empire of more than 10,000 staff managing total assets worth almost $200 billion.

Macquarie millionaires rolling in cash

May 15, 2007

In what is probably the biggest remuneration report ever produced, pages 48 to 90 of Macquarie Bank’s 2007 annual review give chapter and verse on who is getting what at the Millionaires Factory.

Why Australia has missed the boat on Web 2.0

May 15, 2007

It was standing room only in the Future Summit workshop yesterday on Web 2.0 and the six person panel plus the attendees reached the very strong conclusion that Australia’s has two key problems: inadequate infrastructure investment and inadequate business skills.

German manufacturing giant curses Channel Ten morning program

May 14, 2007

Before last Friday, I hadn’t been to an AGM of car parts manufacturer Pacifica since 2000, when former BHP chairman Jerry Ellis jokingly suggested I’d need to buy one of the company’s unbreakable security doors if such impertinent questions of business leaders was going to continue.

Is Australia doing enough with Web 2.0?

May 14, 2007 1

There’s no doubt about the political impact of Web 2.0, as demonstrated by Barack Obama’s myspace page. But what about the commercial implications for Australian business?

Should John Durie be talking up Rupert’s green conversion?

May 14, 2007

Outgoing AFR Chanticleer columnist John Durie has had many dealings with Rupert Murdoch over the years and has now even agreed to leave Australia’s most prestigious business column to work for the Sun King again.

How inaccurate will these forecasts be?

May 9, 2007

Peter Costello and his conservative treasury forecasters have continued their longstanding tradition of consistently under-cooking estimates on budget surpluses.

Between net and no, a debt-free furphy

May 9, 2007

Peter Costello was back pushing his debt free furphy with gay abandon on the ABC last night.

MacBank raises the white flag on Qantas but the juggernaut rolls on

May 8, 2007

After a night of intense lobbying from Canberra and the Qantas board and in the face of enormous media pressure, Macquarie Bank this morning grudgingly raised the white flag on its most ambitious corporate play and declared its $11.1 billion Qantas takeover dead.

Airline Partners should walk away for good

May 8, 2007

After seven extraordinary months, round one of the Qantas takeover deal is over with nothing achieved and lots of lessons learnt.

Alumina protest and what to tell a room full of Christian Kerr critics

May 8, 2007

In this era of climate change, Australia’s biggest consumer of electricity, Alumina Ltd, copped an unusual protest at its annual meeting in Melbourne last week -- over its remuneration policies.

How Rupert can tart himself up for Dow Jones

May 8, 2007

If Rupert Murdoch really thinks he’s an appropriate guardian of The Wall Street Journal, he needs to clean up his act.

Suspensions everywhere as APA pursues all options to salvage Qantas bid

May 7, 2007

The Qantas takeover saga continues to create history with each passing hour. Shares in four stocks – Qantas, Macquarie Bank, Allco Finance and Allco Equity Partners – were suspended this morning after Airline Partners Australia declared it was exploring "a number of alternatives including the possibility of making a renewed offer for Qantas at $5.45 per share."

For two months, Qantas has been foreign-owned

May 7, 2007

It’s all very well for the Qantas board, Peter Costello and various other pundits to now be sticklers for probity, process and the law, but where the hell were they for the past two months when Qantas was clearly majority foreign-owned and in breach of the Qantas Sale Act.

Rupert dumps Fairfax stake

May 7, 2007

Rupert Murdoch has opportunistically dumped his Fairfax Media stake, recovering virtually all of News Corp’s $390 million investment. Fairfax shares slumped 12c to $5.15 in morning trade after News Corp sold its 75 million shares at the discounted price of $5.07.

Why John Schubert should replace Margaret Jackson as Qantas chair

May 7, 2007

Qantas has Australia’s most powerful and best-connected corporate board and they have collectively just copped a massive vote of no confidence from their shareholders after the Airline Partners Australia takeover bid failed. But does that mean the likes of James Packer, former Qantas CEO James Strong, CBA chairman John Schubert and General Peter Cosgrove should all resign? Not necessarily.

Qantas takeover struggles to stay alive

May 4, 2007

The faxes are pouring in from hedge funds all over the world today as the $11 billion Airline Partners Australia takeover bid for Qantas struggles to stay alive.

Hutchison shareholders approve dramatic recapitalisation

May 4, 2007

Long-suffering shareholders in Hutchison Telecommunications Australia Ltd today approved the dramatic $2.85 billion recapitalisation by its Hong Kong parent, Hutchison Whampoa.

Oxiana finally comes clean on Hegarty options fiddle

May 3, 2007

It has taken 12 months, but emerging mining powerhouse Oxiana Resources has finally come clean on the issue that triggered last year’s staggering 46.9% vote against its remuneration report.