CBD
Myer boss Bernie Brookes' already strong dislike of the interwebs would no doubt have been made yet stronger on Thursday when social media came ablaze with disdain for his remark that a levy proposed by the Gillard government to fund its National Disability Insurance Scheme would hurt his department store business.
Confronted by keyboard warriors twittering their outrage at his insensitivity towards the disabled, Brookes was forced to apologise.
CBD hopes the experience doesn't scare the normally forthcoming Brookes into silence. Too many of Australia's executives are non-entities who mutter nothing but corporate gobbledegook.
Brookes' outbursts also provide plenty of fodder for hacks.
Just two months ago, his remark to CBD that there would be "a degree of awkwardness" in Myer's relationship with fashion designer Kym Ellery once they'd finished suing each other was almost immediately used against Myer by rival David Jones in court.
Brookes was a key figure in the anti-internet shopping push spearheaded by permatanned rival Solomon Lew in late 2010, which drew plenty of ire from punters.
In August that year, he threatened to take jobs offshore and set up a Myer offshore store. He did, and the myfind.com website has been so successful it earned zero mentions in the store's latest annual report.
August 2010 also saw Brookes complain that dealing with shareholders, rather than Myer's previous private equity owner TPG, as "like herding cats" - a remark he apologised for later the same day.
Not that TPG escaped. In March 2010, following Myer's disastrous float, he said he wanted to wait before going to market, "but the owners make the decision as to when they want to go forward with the IPO, not the management".
Best of enemies
Seven's Celebrity Splash has shown TV viewers have an insatiable desire to see humiliating clashes between moderately well-known people. So here's one encounter the network could televise for big ratings at little expense: the reunion between media journeyman John Alexander, who was appointed to Seven's board on Thursday, and equally veteran TV newsman Peter Meakin, who consults to the network, although exactly what he does CBD couldn't find out.
Meakin legendarily quit Nine in 2003 because of Alexander. In his book Who Killed Channel Nine?, Gerald Stone alleges JA went behind Meakin's back to get rid of business journalist Michael Pascoe (who now writes for Fairfax Media).
According to Stone, Meakin rang Nine owner Kerry Packer and said: "I can't work with the duplicitous bastard; he's a 24-carat c---." Later the same day, he allegedly twice repeated the epithet to Alexander's face during a two-minute tirade in David Gyngell's office.
Swan takes flight
Sydney Swans chairman Richard Colless has kicked his last goal after telling the club's board of directors he won't seek re-election when his term expires in February next year. Colless is currently the longest serving chairman in the AFL competition, having been at the helm since 1993. Speculation is that Colless' Moelis workmate Andrew Pridham or property industry heavyweight Greg Paramor could be in line to take the gig.
Arnie, anyone?
First, prices were slashed to ribbons like one of Arnold Schwarzenegger's victims in 1980s masterpiece Commando.
Now, promoters of the Governator's forthcoming speaking tour are trying to give away tickets to see the great man. On Thursday, PR agency Markson Sparks told media outlets it had tickets available for giveaways to the June tour, promoted by Jamie McIntyre. What next, paying people to take them?
Got a tip?
bbutler@fairfaxmedia.com.au
Frequently Asked Questions about this Article…
According to the article, Bernie Brookes told media a levy proposed by the Gillard government to fund the National Disability Insurance Scheme would hurt Myer’s department store business. His comment provoked widespread social media outrage over perceived insensitivity toward the disabled, and Brookes subsequently apologised.
Yes. The article notes multiple past controversies: an offhand comment about an “awkwardness” with designer Kym Ellery was used against Myer in court by rival David Jones; Brookes led an anti-internet shopping push in 2010 and later set up an offshore store (myfind.com); and he twice apologised after criticising shareholders as being “like herding cats.”
The article says Brookes set up an offshore Myer store and that the myfind.com website has been successful — yet it earned zero mentions in Myer’s latest annual report, suggesting a disconnect between the company’s initiatives and its formal reporting.
The article implies reputational risk: Brookes’ public outbursts have generated headlines, social-media backlash and even been used in legal settings. For everyday investors, repeated controversies can draw scrutiny from customers, competitors and shareholders, which may influence brand perception and investor sentiment.
The article reports John Alexander was appointed to Seven’s board while veteran newsman Peter Meakin consults to the network. They have a long-running personal rivalry — Meakin famously quit Nine in 2003 because of Alexander — and such high-profile boardroom personalities can shape corporate culture and media strategy, which are relevant considerations for media investors.
Sydney Swans chairman Richard Colless has told the board he won’t seek re-election when his term ends in February next year. The article mentions speculation that Andrew Pridham (his Moelis colleague) or property industry figure Greg Paramor could be contenders to replace him.
The article points out that Seven’s Celebrity Splash demonstrates viewers’ strong appetite for humiliating celebrity confrontations. It suggests networks can generate big ratings from provocative reunions or on-air clashes — a strategy investors in media companies may want to watch when assessing programming and revenue potential.
The article says promoters of Schwarzenegger’s forthcoming speaking tour slashed prices and were offering tickets to media outlets for giveaways; PR agency Markson Sparks reported tickets available for giveaway for the June tour promoted by Jamie McIntyre. For investors in live events or promoters, the moves could indicate softer-than-expected demand or a push to boost attendance through promotions.
Call 1300 880 160
Start a chat
Schedule a call
