Energy ambassador displays a handy side-step
One correspondent attached a photo of a particular billboard, apparently outside Rockhampton airport. The billboard, for a training and labour hire firm called OneKey Resources, shows Lockyer in front of a fairly bleak mining landscape before the slogan: "Mining is booming, your career should be too". It turns out Lockyer has been for some time a paid ambassador for Brisbane-based OneKey, which consults to clients in the resources and infrastructure industries - and that includes clients in the gas industry. Lockyer has shares in OneKey, a spokeswoman confirmed. Which is fine, except that it somewhat undermines Origin's claim that Lockyer would be someone "objective" who would be given open access to experts to form his own views on coal seam gas. Is it really possible to be objective if you're a shareholder in a firm that consults to the industry?.
Coming to party
IT'S been under fire in Canberra but now supermarket behemoth Woolworths plans a good old-fashioned roasting.
The supermarkets and pokie machine operator, which is being probed by chief consumer regulator Rod Sims over allegations it gouges suppliers, is chucking a courtyard barbie at Parliament House next month.
The make-nice session promises attendees the chance to meet "some of Australia's fresh food farmers, producers and retailers". The invite is silent on whether chief executive Grant O'Brien will personally don the 'Kiss the chef' apron and turn a sausage or two.
And if the invite that's doing the rounds of Parliament House is any guide, they'll also be welcome to gorge themselves on vast platters of meat. Among the burnt offerings pictured are sausages, steaks, chops and kebabs.
Loyal followers
COULD players at AFL club Essendon really have been shoving as much strange junk into themselves as recent headlines suggest? Soon-to-retire CSL chief Brian McNamee is unconvinced.
"I think it's a bit too early yet to be completely convinced that they're guilty of all the things they've been accused of in the media," he told reporters last week. "I think we should just be calm and wait for the actual outcome of the analysis."
It's true that McNamee is a mad Bomber - as is the man who asked the question, David Langsam of Biotech Daily.
However, he is also a qualified doctor who runs a company specialising in drugs and blood products. Who better to present an opinion?
Hard to watch
AMID the recent development that the Lachlan Murdoch-chaired Ten Network will use the global resources of News Ltd's Gold Coast Bulletin and NT News to produce its political Sunday morning show Meet The Press, CBD hears that over at Channel Nine, the powers of production are considering dusting off the Business Sunday logos through a resurrection of the once mighty flagship program. However after spending many days in a newsroom with a TV monitor fixed on either Bloomberg or CNBC, CBD can confirm business news makes far better reading than pictures.
World traveller
AND lo, Treasurer Wayne Swan's postcard landed over the weekend from where he claimed to be "sub-zero" Moscow. While most political types see the G20 finance meeting as an interruption to their very busy political calendar (see Woolworth's item above), Swan relishes the chance to meet with his G20 finance minister colleagues from around the world. And Swan loves a good name drop. Not only did he meet Russian President Vladimir Putin at the Kremlin, there were treasurers from around the world including Britain, France and Germany. Amid concerns here in Australia about companies paying their tax take, Swan noted efforts were under way globally to clamp down on tax avoidance to "tackle profit shifting and base erosion".
While no names were used Swan said some companies were avoiding their tax obligations and leaving "all the heavy lifting to the companies and individuals who do the right thing".
Surely the Treasurer wasn't talking about the mining tax?
Can't win 'em all
IF NEW-ISH Commonwealth Bank chief Ian Narev, who has a penchant for getting around on weekends in old shorts and a "daggy t-shirt" is looking a little frazzled lately, it's because he has just discovered his role is, frankly, impossible.
"I can tell you I have had home loan customers tell me they think the rate is too high, I have had deposit customers telling me they think the rate is too low and I have had shareholders as recently as the recent annual general meeting tell me they think the dividend is too low," Narev mused during a briefing on the bank's bumper $3.66 billion headline profit.
"Unfortunately I need to realise in my role that it is impossible for me to please all those people at one time," he said. So let's just please the shareholders and be done with it.
Clarification
Re our piece "The jaws of life" (CBD, 15 February 2013), Macquarie advises us that it has never covered its own stock.
Got a tip?
Contact bbutler@fairfaxmedia.com.au
Frequently Asked Questions about this Article…
The article reports that rugby great Darren Lockyer shot promotional videos for Origin Energy, but he is also a paid ambassador for OneKey Resources and holds shares in that firm. OneKey consults to clients in the resources and gas industries, which the piece says could undermine Origin's claim that Lockyer would be an "objective" voice on coal seam gas.
Yes — the article suggests Lockyer’s paid ambassador role and shareholding in OneKey, a consultant to the gas industry, somewhat undermines Origin Energy’s claim that he would provide an entirely objective view. Everyday investors should be aware that disclosed affiliations can affect the perceived neutrality of corporate spokespeople.
Woolworths, which is being probed by consumer regulator Rod Sims over allegations it gouges suppliers, has invited politicians to a Parliament House barbecue to meet farmers, producers and retailers. The article frames this as a make-good PR event; investors may want to monitor the regulator probe and any impacts on supplier relations or reputation.
Ian Narev said it is "impossible" to please all groups at once — home loan customers may complain rates are too high, depositors that rates are too low, and shareholders that dividends are too small. The article notes the bank reported a headline profit of $3.66 billion. For investors, this highlights the ongoing trade-offs banks face between margins, customer rates and shareholder returns.
Wayne Swan told the G20 there are global efforts to "tackle profit shifting and base erosion" and clamp down on tax avoidance, noting some companies are avoiding tax obligations. The article hints this could be relevant to corporate tax debates (including the mining tax). Investors should watch tax policy developments because changes or enforcement actions can affect company profits and valuations.
The article says Ten Network will use News Ltd’s Gold Coast Bulletin and NT News resources to produce the political show Meet The Press, and Channel Nine is reportedly considering reviving Business Sunday. Media partnerships and programming shifts can influence audience reach, advertising revenue and competitive dynamics — factors investors in media companies may want to track.
Macquarie advised the publication that it has never covered its own stock, correcting or clarifying a previous item. This is a reminder for investors to note broker and analyst disclosures and seek clarity when conflicts or reporting errors are raised.
Brian McNamee, the soon-to-retire CSL chief, said he wasn’t yet convinced the Essendon players were guilty of all the accusations reported in the media and urged waiting for the outcome of testing and analysis. The article notes McNamee is a qualified doctor who runs a company specialising in drugs and blood products. For investors, statements from senior industry figures can shape public perception, but it’s important to wait for verified results before assuming business impact.
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