March, 2005

Brisbane Airport’s big win over the shopping centre giants

, Mar 21, 2005

The Queensland Government, the largest shareholder in Brisbane Airport, were last night celebrating a comprehensive win over shopping centre giants Centro and Westfield. The Federal Court last month ruled that Brisbane Airport was allowed to develop 1000ha of vacant land into a leisure precinct under the provisions of the Airports Act. Westfield and Centro are […]

Will Fletcher cut down the famous Dawn Robertson?

, Mar 20, 2005

Coles Myer CEO John Fletcher was an old army guy who spent 27 years at Brambles, one of the most unglamorous industrial services companies you would find anywhere. Cleanaway rubbish removal work, CHEP pallets and shipping is about as far removed from a department store fashion show as you could get. When Coles Myer hired […]

Natasha’s beau lands T3 spin gig

, Mar 20, 2005

It hasn’t been widely remarked upon in the media, but there is a certain irony in the fact that Natasha Stott Despoja’s husband, former Liberal staffer Ian “Smiffy” Smith, has been handed the plum gig of spinning T3 to the media and the broader electorate. The Sydney Morning Herald mentioned it in passing on March […]

The connections of Fairfax business columnists

, Mar 19, 2005

Crikey has written in the past about possible conflicts of interest that could arise for two of Fairfax’s best business commentators, Alan Kohler and Stephen Bartholomeusz. Interestingly, both popped up as possibilities in their most recent Saturday columns. Kohler’s column was all about the attempt to sell Pacific Hydro. This is interesting because Pacific Hydro […]

Steve Irwin, legal threats and the Crikey chocolate bar

, Mar 18, 2005

By Stephen Mayne Amateur Crikey never bothered to register a trade mark or a patent for our now very well known Australian internet brand, so it was amusing to read Janine Perrett’s piece in The Age’s business sectiontoday on the legal skirmish between Steve Irwin and a Swiss-born Australian entrepreneur Vernon Stuber who has just […]

How Macquarie hedging helped the ARU

, Mar 18, 2005

Crikey, in reference to your piece on Macquarie Bank chairman David Clarke and the ARU last week, we make the following points. There was no conflict with David’s position at the ARU and the hedging contract entered into with Macquarie Bank. David Clarke was not involved in the negotiations regarding this particular transaction. The choice […]

Australia Post: the evidence mounts

, Mar 18, 2005

I am a contractor working in a Melbourne Aussie Post delivery centre and can confirm what was written about holding up of mail is correct. Traditionally, Monday is the busiest day of the week with Tuesday being the slackest. What drives this is that the branch manager gets a cash bonus annually for any financial […]

Henry Thornton on the commodity cycle

, Mar 18, 2005

Funds continue to periodically take profits from commodity markets. Soon, equity investors will reap profits from positions taken in leading miners – there has been some profit taking over recent days. Underlying fundamentals are strong, buoyed by rising capital costs, shortages of equipment, raw materials and expertise necessary for successful completion of new projects. The […]

Catch the train and get a KAZ write-down scoop

, Mar 17, 2005

While on the train the other morning a gentleman in front of me was openly reading a document, presumably prepared by KAZ’s accountants, outlining some proposed write-downs. The main write-down was for $9 million relating to KAZ’s contract with the Commonwealth Attorney-General for a case management system, which thus seems to have been a major […]

Why the Coles Myer result didn’t delight shareholders

, Mar 17, 2005

By Glenn Dyer “Delighting customers” is the new mantra at Coles Myer, according to today’s profit statement. But despite a solid 15.5% increase in net earnings for the first half of 2005, shareholders weren’t exactly thrilled. The strong result was noted in The Australian Financial Review and is detailed in this ASX filing. But there’s […]