Dreaming of life with high-flyers
So it is that the flight paths of the two will cross at 30,000 feet late next week when a gaggle of about eight analysts join Qantas boss Alan Joyce, Jetstar CEO Jayne Hrdlicka, a bunch of hacks and other hangers-on on a junket to Seattle in the US. They're off to pick up the keys to Jetstar's first Dreamliner 787 from Boeing.
No doubt Qantas' investor relations team will also be on hand to show the brokers how to tint the shade-less electronic windows on Jetstar's new flagship plane.
Cash cows
With Warrnambool Cheese and Butter knocking back Bega's buyout offer, there's clearly cash in them cows. And cash is the currency of bigger rival, milk co-operative Murray Goulburn. Dollops of it. On the back of the more than doubling in Murray Goulburn's annual profit to $34.9 million from last year's write-down-marred $14.5 million, managing director Gary Helou's pay cheque went up. Given the milk processor is a co-operative, there are none of these pesky option plans or performance rights to worry about. It's all cash. Helou's latest pay included a short-term cash bonus of $600,000 and some long-term bonus payments of $315,000.
The big cheese was paid $1.48 million a year earlier, although that was only for nine months' work as he took charge in October 2011. Still, CBD is a fan of the law of averages and Helou's monthly cream for the past year works out to $236,000 - up from $164,000 a month in 2011.
Kiwi consolationKiwis in Australia may have been copping some flak after Team New Zealand's spectacular choke at the America's Cup.
But ANZ's Australian boss, Phil Chronican, had some soothing words - at least they have been able to come across the Tasman without a visa. "Seven million people have been given visas to live in Australia since the Department of Immigration was established," he told a lunch in Sydney. "The good news with that is that it understates the issue, because I know for a fact that New Zealanders arriving here didn't need a visa," said Chronican, a Kiwi.
Dr Smith, thanks
"It's Dr Smith to you." These will be the words ANZ chief Mike Smith will be saying over and over again. The head bank teller made a rare appearance in Australia on Thursday to pick up his latest gong. Dr Smith was admitted as Doctor of Laws honoris causa at Monash University's graduation ceremony. Take that, CBA's Ian Narev.
A screw loose
And it didn't go unnoticed that US prosecutors at the trial of five ex-employees of Ponzi-scheme kingpin Bernie Madoff were barred from telling jurors about a sculpture of a screw their boss kept in his office. Defence lawyers at the trial argued the evidence would be too close to the bone. The sculpture was recovered from Madoff's office after his 2008 arrest for masterminding a Ponzi scheme that cost investors about $17 billion. US District Judge Laura Taylor Swain prohibited prosecutors from showing jurors the sculpture or photographs of it, after defence lawyers complained of the artwork's "colloquial inference".
Lucrative Lycra
Nothing like a bunch of middle-aged men in Lycra on their bikes, but this time it was for charity. Usually seen in a suit or a hard hat, more than 250 property players put the pedal to metal last week for the fourth annual Property Industry Foundation's Tour de PIF. More than $200,000 was raised on the day, and still rising, to help homeless kids. Starting at the Station Pavilion, Bobbin Head, the day was split into three courses; the very keen took a 116-kilometre long course (plus ferry) ride to the NSW Central Coast; the mostly fit took a 62-kilometre, three-hour ride to Brooklyn, while the "pretenders" stuck to the 32-kilometre short course to Berowra.
The construction sector may be struggling in parts, but the industry ranging from the Taylor Group, Jones Lang LaSalle and Charter Hall kicked in.
Frequently Asked Questions about this Article…
The article says about eight sell-side analysts, along with journalists, will join Qantas boss Alan Joyce and Jetstar CEO Jayne Hrdlicka on a trip to Seattle to pick up Jetstar’s first Boeing Dreamliner 787. It reflects growing overlap between brokers and journalists as cost cutting and structural change push the two groups together, and Qantas’ investor relations team will be on hand to showcase features like the plane’s shade-less electronic windows.
The article reports that Jetstar is collecting its first Boeing 787 Dreamliner in Seattle, with senior executives and a group of analysts travelling to pick up the aircraft. Qantas’ investor relations team is expected to demonstrate features of the new flagship plane, including its electronic windows.
According to the article, Warrnambool Cheese and Butter knocked back Bega’s buyout offer. The piece characterises the dairy business as having cash — described colloquially as “cash in them cows.”
The article states Murray Goulburn’s annual profit more than doubled to $34.9 million from the prior year’s $14.5 million. As a result, managing director Gary Helou received a short-term cash bonus of $600,000 and long-term bonus payments of $315,000. The article also notes Helou was paid $1.48 million the year before for nine months’ work, and his monthly remuneration averaged about $236,000 in the latest year, up from $164,000 a month in 2011.
Phil Chronican told a Sydney lunch that seven million people have been given visas to live in Australia since the Department of Immigration was established, and he noted — as a Kiwi himself — that New Zealanders arriving in Australia didn’t need a visa. The remark was made in a light-hearted context following Team New Zealand’s America’s Cup loss.
The article explains that U.S. prosecutors were prohibited from showing jurors a sculpture of a screw recovered from Bernie Madoff’s office. Defence lawyers argued the artwork’s ‘colloquial inference’ would be unfairly prejudicial, and U.S. District Judge Laura Taylor Swain agreed, barring the sculpture and photographs from the trial.
More than 250 property industry participants cycled in the fourth annual Property Industry Foundation’s Tour de PIF, raising over $200,000 to help homeless kids. The event attracted contributions from companies across the sector, including the Taylor Group, Jones Lang LaSalle and Charter Hall.
The article reports that ANZ chief Mike Smith was admitted as Doctor of Laws honoris causa at Monash University’s graduation ceremony, a rare public appearance noted in the coverage.
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