RICH PICKINGS: White shoe shuffle

The credit crunch has laid waste to the wealth accumulated by Gold Coast millionaires, locking in a complete reordering of the food chain for this most curious species of entrepreneur.

But since the 1980s, the Gold Coast business community has fought hard to restore its somewhat tarnished reputation. A few years ago, mentioning the words "white shoes” on the Gold Coast was enough to get you a dirty look and a sharp dressing down. The explosive growth of listed companies such as MFS, City Pacific and Billabong had made the Gold Coast a legitimate business hub.

But just as the white shoe jibes were fading from memory, a series of corporate collapses – including MFS, Asset Loans Group and a string of property projects – have rocked the Coast again.

{{content.question}}

SMS Code Sent…

Hi {{ user.FirstName }}

Looks like you've already taken a free trial

Please enter your payment details

We have sent you a code via SMS to {{user.DayPhone}}

please enter this code below to activate your membership

If you didn't receive SMS code please

Looks you are already a member. Please enter your password to proceed

Please untick this box when using a public or shared device


Verify your mobile number

Please sign up for full access

Updating information

Please wait ...

  • Mastercard
  • Visa

Related Articles