Bankers, lawyers share ANZ digs
ANZ chief executive Mike Smith will make a rare appearance in Australia on Tuesday for the opening of the flash new Sydney HQ at 161 Castlereagh Street, or is that 242 Pitt Street?
The dual-address tower will have ANZ staffers coming through Pitt Street, while co-tenant Freehills has the Castlereagh entrance. Strange, given lawyers and bankers seem to get along so well. Also joining Mike at the ribbon-cutting ceremony will be GPT Group head foreman Mick Cameron and Grocon site manager Daniel Grollo.
Not one to miss a chance to wax lyrical about a Sydney skyscraper, NSW Premier Barry O'Farrell will also be there (although it has not been confirmed which entrance he will use - bankers or lawyers).
But one tenant who won't be worrying about the front door is the former owner of the land, John Boyd, who has built a penthouse adjoining the tower, but he won't have to line up in the lobby with lawyers or bankers - he's installed a private elevator.
As the Sydney Swans enter their finals campaign to try to win a back-to-back flag, it marks the end of an era for chairman and property identity Richard Colless. He will stand down after the last board meeting for 2013. Originally it was to be early 2014. Long-time Swan's director and one-eyed fan, Moelis & Co's Andrew Pridham will take over.
Good show, RupertThere was a feeling of life imitating art during Saturday night's performance of David Williamson's new play Rupert at the Melbourne Arts Centre.
While actor Sean O'Shea strode the stage with his brilliant depiction of an elderly Rupert Murdoch, there in the audience sat Australian Shareholders Association agitator Stephen Mayne, looking like a man ready to pepper Rupert with a few curly questions from the floor.
Unlike News Corp annual meetings, there was no opportunity for shareholders to ask questions from a microphone in the aisles, but in the interest of good corporate governance, CBD is happy to give Mayne his verdict on the play. "It was impressively factual I found," he said, before scoring it nine out of 10.
"I thought Williamson could have weaved in a reference to an AGM ... I am prepared to offer to do a cameo AGM question if he wants."
Mayne is gearing up for another board tilt in early October, at the nation's biggest listed investment company; AFIC. He wants to overhaul AFIC's governance and executive remuneration.
And how much is an actor worth? According to Swisse's Radek Sali, who knows a thing or two about the cost of "ambassadors", when it comes to getting promotion for their wellness products, athletes are only that little less expensive than actors.
Excluding "Our Nic", of course. Nicole Kidman's earthy ad for Swisse was famously parodied by the Chaser boys. Mr Sali's father Avni Sali didn't see the funny side and is suing for defamation. Sali jnr told a Melbourne business lunch on Monday that Swisse approached Kidman two years ago, "knowing that she was such an extraordinary talent in the US and I suppose we're coming to love her a bit more in Australia with time".
Even so, Mr Sali was happy to wax lyrical about Swisse accounts, yet the true believers are waiting for the accounts to lob with the corporate watchdog.
He said revenue for financial 2013 was $242 million, 33 per cent higher than the previous year, when $50 million alone was spent on marketing, including a bevy of sporting "ambassadors". The 2013 revenue figure is unaudited.
Swisse has forecast $16 million in earnings before EBITDA for 2014 - eight times the previous year's.
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