It was not only the Israeli corporate bond market that bowled over former Australian Securities and Investments Commission deputy chairman Jeremy Cooper on a recent trade mission to the Jewish state.
After already banging on about the Israeli "X-factor" in a newspaper column last month, Cooper was still trying to articulate yesterday why Israel was such a success story.
Was it largely the result of compulsory national service?
"Perhaps a big reason for this X-factor is how Israel prepares its young people for the challenges of life," Cooper told an Australia-Israel Chamber of Commerce function yesterday. "The answer is compulsory service for everybody over 18 ... it makes a big difference.
"By the age of 25, the average Israeli has worked in a close-knit team in very demanding environments, made decisions that have had real consequences and have been required to solve complicated problems in a short space of time," Cooper said about the benefits of donning khaki and carrying an assault rifle for one's country. "What this translates into is a propensity to carry out technical innovation."
Thank heavens Cooper, who now has a job with Challenger, made his trip to Israel after completing his review of Australia's superannuation system in 2010. Compulsory super contributions could have been extended into more controversial areas.
JOYCE IN BRIEF
The Qantas chief executive, Alan Joyce, probably had a good excuse for not posing in a pair of undies in a Beijing hotel room this week.
After all, he's had a slumping share price to prop up and renewed talk that a private-equity consortium led by his predecessor and "mentor", Geoff Dixon, might want to buy out the struggling airline.
Joyce passed on his opportunity to exhibit his physique at a farewell bash for Air New Zealand's outgoing and fitness-fanatic chief executive, Rob Fyfe, which was held on the sidelines of the International Air Transport Association (IATA) annual general meeting.
Fyfe, who once starred naked (in body paint) in one of his airline's advertisements and in another wearing disco gear, had undies handed out to the chief executives who attended the party at the China World Hotel.
"I was one of those guys who was supposed to show his underpants," Joyce confirmed.
CBD was unable to find out whether any guests, including Cathay Pacific's John Slosar or International Airline Group's Willie Walsh, took some of their clothes off.
The Australian boss of Etihad Airways, James Hogan, would only confirm afterwards that he still had a pair of the Air New Zealand-sponsored undies in his hotel room.
Wearing undies could have been a bad look for the Irish-born Qantas boss anyway, given he was appointed the chairman of IATA yesterday. He is the third Qantas chief executive to serve as the chairman of the air transport body.
It would have also been a bad look for the Qantas boss to lose his shirt after what has happened to the airline's share price in recent days.
Joyce might need a Popemobile or at least some minders at next year's 69th IATA annual meeting in Cape Town. He had to bulldoze his way through a mad pack of journalists at a press briefing yesterday.
TIGER TENSION
The Balmain Tigers legend and Chameleon Mining chairman, Benny Elias, might want to avoid sipping a cafe latte across the road from Rozelle Markets this Saturday.
That is where residents opposed to his plans to transform the Tigers' Rugby League Club into a $310 million high-rise complex on Victoria Road will hold a last ditch rally to vent their views before the NSW government decides on whether the development can go ahead.
But one inner-westie who has struck himself off the list of potential protesters is the Labor powerbroker and Australian Workers Union national secretary Paul Howes.
Howes, who lives in Leichhardt, has tried to get the two Labor councillors who serve at Leichhardt council, Darcy Byrne and Lyndal Howison, to see the merit in the project.
"Whenever I am travelling down Balmain Road to the west of Victoria Street [sic], I am struck by how sadly underdeveloped the area is," Howes said in a recent letter to the councillors. "It is desperately crying out for a project of this calibre to revitalise it. If we fail in this endeavour, the valuable heritage of the Balmain Tigers, their rightful home and our community will be tarnished forever."
But Howes does not seem to have the same sway in Leichhardt as he does in the federal Labor party.
Byrne last week helped co-found Tigers Against the Towers, a group of Tigers supporters against the development.
BIG BACKERS
The former Hawke Labor government minister John Brown has also become a strong supporter of the project. Apart from appearing in a YouTube clip with the former Noiseworks lead singer Jon Stevens, former Socceroo Mark Bosnich and cricketer Stuart MacGill in support of the development, Brown has also written to the Premier, Barry O'Farrell.
"I do hope the clamour of the critics can be overcome by a government which has shown thus far the courage that its predecessor lacked," said the Tourism and Transport Forum founder's letter about the "desperately needed facility".
Bosnich, for his part, has offered an insight into his philosophical attitude to life and high-rise developments. "The world is about change. It's the only constant thing that happens in life apart from paying your taxes," he said in the YouTube clip supporting the development.
Frequently Asked Questions about this Article…
What did Jeremy Cooper say about Israel's "X-factor" and compulsory national service, and why might everyday investors care?
Jeremy Cooper said he was impressed by Israel's corporate bond market and suggested a big part of the country's "X-factor" is compulsory national service. He argued that by 25 the average Israeli has worked in close-knit, demanding teams, made tough decisions and solved complex problems quickly — traits he links to a propensity for technical innovation. Everyday investors may find this notable because a culture of innovation can support stronger corporate performance and capital markets.
How does Jeremy Cooper's trip to Israel relate to his role at Challenger and his review of Australia's superannuation system?
The article notes Cooper, a former ASIC deputy chairman who now works at Challenger, made the trip to Israel after completing his 2010 review of Australia's superannuation system. It also says his review considered extending compulsory super contributions into more controversial areas — a reminder of how policy reviews can intersect with industry roles.
Why have Qantas and its share price been in the news, and what buyout talk is mentioned?
The article says Qantas has experienced a slumping share price recently, which has spurred renewed talk that a private-equity consortium led by former Qantas boss Geoff Dixon might seek to buy the struggling airline. Those developments are why Qantas and its share price are attracting investor attention.
What is Alan Joyce's new role at IATA and why is it relevant to investors following Qantas?
Alan Joyce, the Qantas chief executive, was appointed chairman of the International Air Transport Association (IATA). The article highlights the appointment as a high-profile industry role — Joyce is the third Qantas CEO to serve as IATA chairman — which raises his public profile while Qantas deals with recent share-price pressure.
What was the story about CEOs and the 'undies' at the IATA meeting?
At a farewell party for Air New Zealand's outgoing CEO Rob Fyfe, novelty underwear were handed out to attending airline chiefs. Alan Joyce confirmed he was among those who was supposed to show his underpants, and Etihad's Australian boss James Hogan said he still had a pair in his hotel room. The anecdote appears as colourful industry gossip alongside more serious corporate news.
What is the Balmain Tigers / Chameleon Mining development proposal and why is it controversial?
Chameleon Mining chairman Benny Elias is behind plans to transform the Balmain Tigers Rugby League Club site into a $310 million high‑rise complex on Victoria Road. The proposal has drawn strong local opposition, with residents organising rallies and a group called Tigers Against the Towers formed to fight the development. The NSW government is set to decide whether the project can go ahead.
Who are the key supporters and opponents of the Balmain Tigers development mentioned in the article?
Supporters cited include Labor powerbroker Paul Howes, former minister John Brown (who wrote to Premier Barry O'Farrell), and public figures appearing in a YouTube clip such as Jon Stevens, Mark Bosnich and Stuart MacGill. Opponents include local residents and the newly co‑founded group Tigers Against the Towers, with Leichhardt councillor Darcy Byrne involved in the opposition.
What investor themes does this mix of stories (Israel, Qantas, Balmain development) highlight for everyday investors?
The article brings up several themes investors often watch: how national culture and policy (Cooper on Israel and compulsory service) can influence innovation and markets; the effect of leadership and public profile on companies (Alan Joyce at IATA, corporate anecdotes); market reaction and buyout speculation (Qantas share‑price slump and private‑equity talk); and how community and regulatory decisions can shape property and development projects (Balmain Tigers proposal). These are practical areas everyday investors may want to monitor in news about companies.