CBD
That should put him out of the line of fire from an unhappy customer, Coles, with whom Davis has been clashing over the price of cola.
Davis got just over $13 each for his 150,000 shares, but he could have done even better had he cashed in the chips before the fizz went out of Coke stock.
At the $15.25 Coke shares were fetching in March, he would have pocketed an extra $331,000.
Davis retains 400,000 shares.
Wirth doing well
How much is Olivia Wirth? Qantas shareholders will have to wait until next year at the earliest to find out. The flying roo's chief spin doctor (and girlfriend of union heavyweight Paul Howes, pictured with Wirth) was on Wednesday promoted to "group executive brand, marketing and corporate affairs" as part of a rejig. However, she has lost government affairs, with Qantas bringing Wirth's camel-ride comrade and former John Hewson staffer Andrew Parker across from international partner Emirates.
To make room, marketing boss Lewis Pullen, who spearheaded the much-mocked "You're the reason we fly" ad campaign, has been handed his parachute and farewelled.
But the big question for shareholders, frequent flyers and the blue-collar members of Howes' Australian Workers Union is: does the promotion put Wirth among the key management personnel whose pay packets must be disclosed in the annual report?
Qantas declined to say. And with Wirth taking her new job in July, after the end of the current financial year, Qantas will not have to declare her position until next year's report lobs in September 2014.
A matter of bats
A bare backside has been the downfall of many a miner, and now Rio Tinto executives have a new reason to beware of naked hindquarters. On Wednesday Environment Minister Tony Burke gave conditional approval to Rio's controversial $1.5 billion South of Embley bauxite mine on Cape York. As part of the approval, Rio must put together plans to protect sea and land wildlife.
In addition to turtles, dolphins, dugongs and whales, Rio must protect birds and bats - specifically Saccolaimus saccolaimus nudicluniatus, the bare-rumped sheathtail bat. Little is known of the critically endangered creature, which has yet to be sighted near the proposed mine.
But its living arrangements seem to mirror those of a mob of fly-in-fly-out mining workers.
Clustering together in groups of between three and 40, the bats rise in the early evening to begin foraging. They fly high, dropping from the sky when they spot potential prey, and then return to a cave or tree hollow to sleep away the day.
But despite Burke's approval, the bats (if any) might continue to slumber undisturbed by dozers. The Queensland government's decision to approve the mine has been challenged in court by the Wilderness Society, which reckons associated shipping traffic risks trashing the Great Barrier Reef.
And even if it wins in court, Rio may can the project. Already a year late, it faces internal competition from other projects at a company far less gung-ho about spending money than it was 18 months ago.
Via the big smoke
Which senior media executive was nearly marooned midway between Sydney and Canberra after stepping off his company's bus for a well-deserved gasper on the way to Tuesday's federal budget lock-up? Apparently the bus was on the road before anyone noticed he was missing.
Got a tip?
bbutler@fairfaxmedia.com.au
Frequently Asked Questions about this Article…
Terry Davis sold 150,000 Coca‑Cola Amatil shares for about $1.95 million (just over $13 a share) to buy a sheep and cattle farm in New Zealand. He still retains 400,000 shares and is due to step down next year. Everyday investors often track senior executive share sales for timing and disclosure reasons; in this case the article says the sale was for a personal property purchase rather than an immediate exit from the stock.
According to the article, Coca‑Cola Amatil shares traded at $15.25 in March, so if Davis had sold then he would have realised about $331,000 more. The piece simply notes the timing difference rather than drawing conclusions about long‑term company prospects.
Qantas promoted Olivia Wirth to group executive, brand, marketing and corporate affairs. She loses responsibility for government affairs, which was shifted to Andrew Parker. The promotion kicks in in July, after the current financial year ends.
The article reports Qantas declined to say whether Wirth will be treated as key management personnel for pay disclosure. Because her role starts after the financial year ends, any mandatory disclosure of her position or pay would appear in the next annual report (noted in the article as due in September 2014).
Environment Minister Tony Burke gave conditional approval for Rio Tinto’s $1.5 billion South of Embley bauxite mine on Cape York. Conditions include plans to protect sea and land wildlife such as turtles, dolphins, dugongs, whales, birds and the critically endangered bare‑rumped sheathtail bat (Saccolaimus saccolaimus nudicluniatus).
The article notes the Queensland government’s approval has been challenged in court by the Wilderness Society, which is worried shipping traffic linked to the mine could threaten the Great Barrier Reef. It also says the project is already a year late and faces internal competition at Rio, so it could be delayed further or potentially cancelled.
The bare‑rumped sheathtail bat (Saccolaimus saccolaimus nudicluniatus) is a critically endangered species cited among the wildlife Rio must protect as part of the mine approval. For investors, species‑protection conditions can add compliance costs, delay timelines or create legal challenges — all factors that can affect project economics and company risk.
The article mentions that Terry Davis has been clashing with Coles over the price of cola and describes Coles as an unhappy customer. That highlights commercial tensions between a major retailer and a bottler, a dynamic investors may watch when assessing beverage companies’ pricing and margin pressures.
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