Don't mention politics

SOME high-profile families are painted with just a single political brush.

But not is all as it seems in the Burgess bungalow. Phil "we never say 'no comment"' Burgess, the family patriarch and Telstra motormouth for the last three years, is a Republican stalwart (although he has apparently worked in some capacity for the other side).

And his son is in the midst of John McCain's fundraising activities after taking a gig with the Arizona senator's treasury committee. Apparently he is looking into whether McCain's outfit is complying with US federal campaign finance laws.

But daughter Katie, who finished top of her class at the College of William and Mary in Williamsburg, is doing things a little differently - she's flying the flag for America's alternate political voice.

That is, helping out on Barack Obama's campaign for the White House.

The political affiliations of Dr Phil's wife, Mary Sue, aren't so clear - although she did write a $US2300 ($2854) cheque for McCain last year (as did her hubby).

We can only wonder who gets the chance to get a word in over the kitchen table in the Burgess home in Annapolis, Maryland.

Though we suspect one topic banned from conversation is a structural split of the American-led telco, Telstra.

As Dr Phil so eloquently put it yesterday in his penultimate public lashing before he departs for the US of A on September 24, the mere concept of the idea is "economic moonshine, a kind of bogus whisky that the hillbillies drink".

Not even Jed Clampett or Daisy May would consider that one, it seems.

Out you go

It's not often that a broadcasting billionaire is told to keep out of a meeting - and heed the advice.

But that's exactly what the Seven Network's chairman, Kerry Stokes, his son Ryan and right-hand man, Peter Gammell, did at the company's meeting to vote on the buyback of up to 40 million shares.

Asked why the main man was a no-show yesterday, deputy chairman Peter Ritchie told the handful of investors at the get-together in Seven's Pyrmont HQ that he couldn't answer for the boss but "I assume he thought, 'what an easy job, I'll just give it out to Peter Ritchie"'.

That was just before director Bruce McWilliam was able to shed some light.

It turned out that McWilliam had "personally advised" Stokes not to turn up.

Apparently it's "normal protocol" for executive directors to stay away from meetings such as those held to vote on share buybacks (which was news to some).

As to whether Stokes would participate in the buyback - his stake in Seven climbs to as much as 56 per cent if he doesn't - investors heard via Blackberry from the media mogul (once again) that he "would not be a seller at these prices".

And that was the meeting - over in little more than 10 minutes - albeit with a 98 per cent-plus vote in support of the share buyback that is likely to pave the way for Stokes to tighten his grip.

All up, not a bad present for his 68th birthday on Saturday.

Beaches with bankers

What is it about bankers and beaches?

Not only are they keen to snap up the best spots on prime coastline for their palatial pads, but it seems the love affair for the sandy spots goes much deeper for some.

Take the tellers at Ralph Norris's Commonwealth Bank, for instance.

CBA's holding companies include Copacabana Beach, which made a profit of more than $379,000 in 2007 (most of which was returned to the bank in dividends that year).

Then there's Torquay Beach (presumably named after the Victorian surf beach) and Harboard Beach (a slightly different spelling on the northern suburb beach).

And we shouldn't forget the other CBA subsidiary, Padang (possibly named after a certain seaside city in the Indonesian province of West Sumatra).

The secret holiday spot of the bank's ex-chief teller, David Murray, or his Kiwi-speaking successor, Ralph Norris, perhaps? We doubt it.

Forgotten jewel

Business mightn't be glittering in the jewellery business just now.

But at least there's money stashed away in forgotten vaults for the likes of Michael Hill International, the Kiwi jewellery retailer which has almost 100 stores this side of the dutch.

Michael Hill is listed in the corporate plod's latest list of unclaimed loot from compulsory takeovers - namely, Prouds Jewellers' acquisition of Angus & Coote in April last year.

Turns out Michael Hill never got around to claiming $672 from a stake in Angus & Coote.

Of course, every bit of extra cash helps but this unclaimed loot might not quite be enough to help the jewellery chain get over a 33 per cent fall in its market value since December on Aotearoa's ever-shrinking stock exchange.

The integrators

Things move quickly at Gail Kelly's Westpac nowadays.

Well, that's at least when it comes to renaming committees.

No sooner has it won over St George and Westpac is changing the name of the "implementation committee" overseeing the pitch for the Happy Dragons.

It's now known as the "integration committee".

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