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Speaker 1: This is the weekend edition of Fear and Greed business

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Speaker 1: news you can use. I'm Michael Thompson and good morning

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Speaker 1: Sean Aylmer.

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Speaker 2: Good morning, Michael, Sean.

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Speaker 1: Our weekend show is all about the two of us,

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Speaker 1: each nominating what we think is the biggest business story

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Speaker 1: of the week, the most remarkable story, a mystery category

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Speaker 1: that we change every week and have a great lot

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Speaker 1: of fun changing it to keep our judge on his toes,

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Speaker 1: and our favorite business related story. I mentioned that we

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Speaker 1: have a judge. We need that judge to pick a

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Speaker 1: winner across these four categories. That judge is our Fear

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Speaker 1: and Greed colleague Adam Lang, who comes bearing a full

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Speaker 1: set of criteria.

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Speaker 3: Adam, good morning, Good morning Michael.

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Speaker 2: That's going to be like a full set of teeth.

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Speaker 2: He comes bearing a full set of what's next word tes?

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Speaker 1: I mean, it does have very nice teeth.

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Speaker 2: He's got excellent teeth. Those you don't know, Adam. He honestly,

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Speaker 2: there's a lot of gentle work there.

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Speaker 4: When it was a young child, I'd imagine none good

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Speaker 4: set of mouthguards growing up.

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Speaker 3: That was pretty helpful.

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Speaker 1: Yeah, you should bring it to this because this is

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Speaker 1: a full contact episode. Today, we are really going to

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Speaker 1: so I'd say, we're really going to go at it,

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Speaker 1: but I suppose it's go on the criteria in a

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Speaker 1: different direction.

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Speaker 4: What are you looking for, Adam, topicality and timeliness. The

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Speaker 4: big one is economic impact, of course, a bit of

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Speaker 4: playing to most objective bias and Michael strong suit of

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Speaker 4: course of melodrama.

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Speaker 1: A little smidgeon of melodrama. A dash, okay, sean bigger story.

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Speaker 1: Go for it.

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Speaker 2: What is it you want me to start?

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Speaker 3: Not you, I mean I can.

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Speaker 2: Shall I go on? Yes?

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Speaker 1: Good, because it feels kind of unkind for me to

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Speaker 1: go first, because once I've done mine, there is nothing

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Speaker 1: left after this, because there is one story, and one

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Speaker 1: story only in town.

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Speaker 2: This week.

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Speaker 1: Markets markets, markets, markets markets maybe yeah, yeah, that's right.

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Speaker 1: The ASEX this week. Okay, let's start there. The ASEX

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Speaker 1: this week six month hit a six month low, big

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Speaker 1: sell offs led by the tech sector. That was really

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Speaker 1: because of the lead in from Wall Street and interest

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Speaker 1: rate expectations. All this the banks were being sold off,

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Speaker 1: the miners, everyone, it was all over the place was

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Speaker 1: looking pretty dismal there for a while, and then and

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Speaker 1: then right, okay, this is this is the rollercoaster ride

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Speaker 1: that we've been on this week.

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Speaker 2: Adam, that was we think that, like I think, this

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Speaker 2: is a fourth week in a raw possibly he's opened.

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Speaker 4: With it four times of markets.

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Speaker 1: M that's because that's how excited I am about this,

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Speaker 1: because this is byhem, not chaos mark markets. Because everything

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Speaker 1: was looking so dismal and so worrying. Everyone was nervous,

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Speaker 1: and then in rides and video to save the day,

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Speaker 1: and goodness me, the biggest company in the world, the

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Speaker 1: most important company in the world, delivered a bumper set

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Speaker 1: of results. There was quarterly revenue of fifty seven billion

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Speaker 1: US dollars, a fourteen percent rise expected this quarter. All

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Speaker 1: those nervous investors, and there were a lot of them

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Speaker 1: leading up to invidious results, they had their AI bubble fears,

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Speaker 1: allaid everything was okay, and everything was great, and videos

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Speaker 1: the champion of the world, and everything's fine for a

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Speaker 1: little while, for a little while, because then video, which

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Speaker 1: is at the very heart of the AI boom, still booming, right,

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Speaker 1: So everything looked good for about eighteen hours or so,

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Speaker 1: and then the anxiety kicked in again, and video surged

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Speaker 1: and then fell and Wall Street tumbled big time. And

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Speaker 1: I say, big time. It was like, I think two

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Speaker 1: trillion US dollars was wiped off the market's value in

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Speaker 1: just six hours. That is a massive, massive hit. The

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Speaker 1: ASX was hit too. Bitcoin dropped as well. The VIX

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Speaker 1: volatility index, which we've talked about sean in the past,

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Speaker 1: hit its highest point since April. There's just a lot

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Speaker 1: of anxiety. There's a lot of confusion. That's kind of

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Speaker 1: mixed economic data out of the US and partial data

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Speaker 1: because of the shutdown. No one really knows what's going on.

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Speaker 1: No one knows what the Fed's going to do. Half

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Speaker 1: of the FED governors they don't know what they're going

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Speaker 1: to do either. This is chaos, market chaos. We are

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Speaker 1: seeing it in the US, we are seeing it in Australia.

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Speaker 1: We're seeing in video which was supposed to say the

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Speaker 1: day did but then it didn't. And now no one

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Speaker 1: knows what's going on. Markets. Oh god, I'm excited like

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Speaker 1: Big keV.

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Speaker 3: Remember that? Remember Big keV? Anyway more fear than greed?

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Speaker 3: Oh yeah? Yeah?

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Speaker 2: Was it?

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Speaker 3: What eatam?

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Speaker 4: Wasn't that Big kevsten.

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Speaker 2: To much Michael talked about until you got the Big keV.

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Speaker 2: He didn't realize you realize what it done. It was

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Speaker 2: absolutely no point in that story. And then big keV

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Speaker 2: came in thought, oh that's interesting.

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Speaker 3: No point in.

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Speaker 1: That story, baloney and Sean.

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Speaker 2: Let me tell you about a story that happened this

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Speaker 2: week that actually was new, actually something that we hadn't

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Speaker 2: heard for a while. You might call this an omnibus.

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Speaker 2: But if you're a pet, which Adam is not the

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Speaker 2: biggest story of the week all about the banks. It

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Speaker 2: started actually last week when after trading had finished on Friday,

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Speaker 2: the ain Z released a highly highly critical report of

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Speaker 2: its behavior. The McKinsey review was critical of the bank's

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Speaker 2: former leadership, it's culture ever since the Banking Royal Commission,

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Speaker 2: saying it's an insular institution staff for reluctant to challenge

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Speaker 2: and deliver bad news. It was prepared for ain Z

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Speaker 2: after it was hit by a series of scandals which

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Speaker 2: led to a two hundred and forty million dollar fine

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Speaker 2: for widespread misconduct. Basically, it made it sound like bad

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Speaker 2: old days pre Royal Commission. It's not. But there are

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Speaker 2: some lessons the banks, or at least ain Z, have

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Speaker 2: not learned. Quite extraordinary. Then we had the four bank

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Speaker 2: CEOs appearing before the House of Reps Economics Committee. I'm

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Speaker 2: going to say the bank name. One of you two,

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Speaker 2: please give me the individual's name. Come off Bank, common National,

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Speaker 2: Australia Bank.

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Speaker 4: Michael, your turn, Andrew Irvine, west Pac.

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Speaker 3: Oh god, I do know.

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Speaker 2: This, Michael, You've got the scripts in front of you.

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Speaker 1: No, I'm just too busy googling Big keV.

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Speaker 2: Anthony Miller, the Z's Nuno Mattos obviously the best name. John.

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Speaker 2: On the economy, com Wealth Bank, National Australian Bank, they say,

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Speaker 2: no more rate cuts. Westpac reckons there are a couple coming.

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Speaker 2: The banks should know what's going on. They've got all

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Speaker 2: that credit card and debit card data. Things are really

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Speaker 2: traveling along okay. On the economy, consumers are slowly picking

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Speaker 2: up spending. Cost of living still a challenge, the bank say,

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Speaker 2: but not quite as big a challenge as it was

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Speaker 2: On small business. Banks are fighting hard for their loans

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Speaker 2: and their dollars, though the cees can see that opera

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Speaker 2: rules make it tough at times. Big take in the

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Speaker 2: payment systems favorite of Commonwealth Bank bad bad, bad, according

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Speaker 2: to matt Common, especially when the regulators do silly things

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Speaker 2: like banning search charges on Debenham credit cards. Banking in

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Speaker 2: twenty twenty five much tougher than a decade ago. That

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Speaker 2: seems to be the consensus. You all in all, a

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Speaker 2: great week and a big story because you really found

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Speaker 2: out what the big four banks are thinking.

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Speaker 1: Adam, it was it was Big Kev's window cleaner, Big

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Speaker 1: Kev's mold remover, Big Kev's shower plus kind of. It

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Speaker 1: was just all the products were.

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Speaker 3: Easy off.

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Speaker 1: Bam was another was another product with a great advertising campaign,

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Speaker 1: but it.

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Speaker 2: Was not but it was not. It was Big keV.

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Speaker 2: The follower to like k Tell.

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Speaker 4: Yeah he came later, but big white T shirt, he big.

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Speaker 2: Fol No I get all that. But the products that

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Speaker 2: they were selling, it was kind of like the version,

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Speaker 2: the last version of K Tell.

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Speaker 3: What is k tell?

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Speaker 2: Like?

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Speaker 3: This might be a little before me.

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Speaker 2: It really had one of the greatest record holders where

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Speaker 2: you could pull the first record forward and the others

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Speaker 2: would follow. Now, a record, Michael, is something that you

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Speaker 2: put on what was called the turntable, Okay, telling you

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Speaker 2: you always had you had lots and lots of records.

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Speaker 2: They're all over the place. K Tel came out with

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Speaker 2: this product where you'd stack the records and in the

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Speaker 2: advertising pitch, that's how you simply pull forward the first

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Speaker 2: one and every half second the next one would follow.

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Speaker 2: So you can go through your record collection. Did you

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Speaker 2: have one, Adam, you had a lot of records?

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Speaker 3: No, I didn't. Makes me feel like I'm missed out.

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Speaker 1: Now, I'm sure you could get one on eBay, but

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Speaker 1: you will play. Yeah, I'm looking for one now. Actually

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Speaker 1: the k Tel records selector.

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Speaker 3: To the story.

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Speaker 2: Yeah, show what big stories have had this week.

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Speaker 4: So Sean, I look absolutely banking and what it tells

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Speaker 4: us about our whole economy is incredible on the A

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Speaker 4: n Z specifically and obviously a lot of executive change.

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Speaker 4: But does it stop there when you have a McKinsey

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Speaker 4: report that's so damning after so many years of persisting problems.

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Speaker 4: Should the board be asked questions too?

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Speaker 2: Mm? Exactly what saying between the lines?

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Speaker 4: Right?

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Speaker 3: I read it, I read it, Thank you, thank you?

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Speaker 4: And Michael markets Yeah, probably more so the AI bubble,

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Speaker 4: As you said, fears are late.

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Speaker 3: I don't think so.

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Speaker 4: But what a spectacular result for in video and they're

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Speaker 4: picking growth. I think you said it in one of

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Speaker 4: the afternoon reports, Michael, Sean, you've said it too. The

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Speaker 4: whole world was looking at these results and rarely has

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Speaker 4: that happened that one company has dictated so much. So

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Speaker 4: I think that has to be the biggest story of

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Speaker 4: the week.

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Speaker 1: I think that's fair enough. And you can also get

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Speaker 1: a you can, did you know, Adam, if you really

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Speaker 1: do want to get on board the k Tel records

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Speaker 1: selector late, you can get one for seven hundred and

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Speaker 1: ninety nine.

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Speaker 2: Dollars on ebayerious only in nineteen ninety growing up, which

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Speaker 2: is a lot of money growing up.

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Speaker 3: Yeah, it's nineteen dollars in ninety nine cents.

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Speaker 2: Yeah, yes, sorry, nineteen dollars and ninety nine cents.

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Speaker 1: That's a isn't that extraordinary? Eight hundred bucks?

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Speaker 3: You know what?

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Speaker 1: I think that's And because we've talked about it here,

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Speaker 1: that's now a tax reduction.

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Speaker 3: Right, that's the way these things work. Right, Please don't

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Speaker 3: take financial advice from us.

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Speaker 1: Good morning to our friends at the ATO. Okay, let's

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Speaker 1: move on now to the most remarkable story. I went

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Speaker 1: first in the last one. So Sean, how you do

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Speaker 1: the honors?

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Speaker 4: Ah?

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Speaker 2: Look, Drone Shield, Oh my word, I've got a bit

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Speaker 2: of a corporate governance scene going here. Today one time

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Speaker 2: market Darling drone Shield, which actually does what its name suggests,

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Speaker 2: one of Michael's favorite things with the company. Yes, it's

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Speaker 2: shields from drones.

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Speaker 1: Good good. Who wants a confusing company name?

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Speaker 3: Right?

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Speaker 1: You should not be an enigma. If you're a company,

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Speaker 1: you should tell people what you do. That is like,

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Speaker 1: I mean, the marketing team for drone Shield, well done.

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Speaker 3: You've named it.

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Speaker 2: Well like it like nvideo? What hell does nvideo do?

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Speaker 3: I mean?

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Speaker 1: Up until about two years ago, no one even knew

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Speaker 1: how to say it.

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Speaker 2: Basically, the one time Market Darling told the market that

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Speaker 2: its chief executive chair and another director sold two point

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Speaker 2: four million dollars worth of shares after incorrect information had

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Speaker 2: been released to the market. That incorrect information pushed the

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Speaker 2: share price up, and these guys then sold corporate governance

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Speaker 2: at its worst, even if they weren't doing it deliberately.

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Speaker 2: The ASEX query Drone Shield about recent price movements. You know,

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Speaker 2: incredible stock went from about sixty two cents in eighteen

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Speaker 2: January got to about six dollars sixty at the beginning

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Speaker 2: of last month, now back under two bucks. In a

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Speaker 2: sixteen page explanation this week and when you're doing sixteen

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Speaker 2: pages to explain why your share price is moving. You

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Speaker 2: know there's something to it. Drone Shield outlined the selling

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Speaker 2: of seventy million dollars worth of shares by CEO Olik Varnick,

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Speaker 2: Chair Peter James, and director Jeestro Marks. The selling occurred

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Speaker 2: over several sessions triggered the Big Cell down in stock,

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Speaker 2: most recently now CEO Varnick sold his shares in the

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Speaker 2: company for almost fifty million dollars between November six and

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Speaker 2: November twelve. Important those six and twelve. On November ten,

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Speaker 2: the company mistakenly announced it had secured seven point six

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Speaker 2: million dollars in new contracts with the US government. It's

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Speaker 2: chair price jumped. The company a few days later withdrew

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Speaker 2: the announcement and the share price fell, But of course

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Speaker 2: that came out in the midst of the selling by

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Speaker 2: the CEO Varnick. In fact, three directors, including Vaarnick, sold

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Speaker 2: shares in the window of time between the original announcement

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Speaker 2: and the correction. The company said the three directors were

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Speaker 2: in substantial compliance. Substantial compliance today we want substantial compliance.

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Speaker 2: We actually want compliance, don't we? I don't know. With

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Speaker 2: its trading policy had sought approval to sell the maximum

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Speaker 2: number of shares that had been granted. Ahead of the selling,

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Speaker 2: the company blamed its US team for publishing incorrect information whatever,

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Speaker 2: not good enough. You know, we have These corporate governance

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Speaker 2: issues are plenty. We saw the AGM Richard White and

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Speaker 2: the Weistech Global AGM. Yesterday's shareholder is not happy. We

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Speaker 2: saw Mineral Resources Chris Ellison, the chair of the board

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Speaker 2: saying Chris Ellison could stay on Cam. Let's get serious

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Speaker 2: about corporate governance. And you know, maybe this was inadvertentent

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Speaker 2: drones shields. I'm not saying they were trying to do

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Speaker 2: criminal activity or anything like that, but what horrendous corporate governance? Remarkable? Really?

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Speaker 2: Michael over to.

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Speaker 1: Here, God, do we need to implement an egg timer

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Speaker 1: system here for these stories? Adam, brevity is surely an

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Speaker 1: important component of this, right, So.

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Speaker 2: You don't have much to say on this story.

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Speaker 3: I've got plenty to say.

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Speaker 1: I tried to embrace I tried to embrace brevity this week.

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Speaker 3: I thought we tried. I thought we were going for

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Speaker 3: brief all round.

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Speaker 1: Apparently not. It's just me this week, Adam, most remarkable story.

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Speaker 1: I want you to spare a thought for the retailers

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Speaker 1: of Australia. If you think it's tough trying to sell

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Speaker 1: stuff in this country, particularly sell stuff online, it is

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Speaker 1: about to get even worse, even harder.

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Speaker 3: By next year. This is extraordinary.

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Speaker 1: Amazon, Timu and Shean will hold more than a third

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Speaker 1: of Australia's online retail market, generating wait for this and

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Speaker 1: then write it down, more than eighteen billion dollars worth

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Speaker 1: of sales locally. Eighteen billion dollars worth of sales locally.

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Speaker 1: That is extraordinary.

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Speaker 4: Now.

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Speaker 1: The analysis came from Ben Gilbert at Jardin, who is

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Speaker 1: a friend of fear and greed, and he says retailers

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Speaker 1: need a scale or niche differentiation to survive and that

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Speaker 1: the retailers caught in the middle face the greatest risk. Now,

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Speaker 1: these aren't obscure kind of little things. These are kind

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Speaker 1: of brands in the middle like Big w and Meyer

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Speaker 1: and JB hi Fi with their kind of the various

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Speaker 1: appliance and whatnot that they sell online. The thing is here,

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Speaker 1: Australian retailers are already fighting for survival. It is only

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Speaker 1: going to get harder, and it is these three international

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Speaker 1: juggernauts that are going to do it, and they're going

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Speaker 1: to make it even harder. They are going to tighten

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Speaker 1: the vice, the screws and they are going to force

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Speaker 1: the humble Australian retailer out of the market. It is

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Speaker 1: extraordinary and remarkable and brief.

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Speaker 3: I'm done.

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Speaker 2: I think that was worthy of a brief story.

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Speaker 4: So Sean wins. So, Michael, that's a very good story.

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Speaker 4: But it is more incrementalism. I think it's creeping up,

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Speaker 4: up on up for Australian retailers. I just I don't

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Speaker 4: know where this is going to stop. Don't see how

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Speaker 4: the conveniences of those retail mechanisms can be curved. It's

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Speaker 4: so difficult and inevitably you're going to have to have

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Speaker 4: a mix of physical and online, right, So what a

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Speaker 4: ripping challenge. The remarkability though for Sean's corporate governance and

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Speaker 4: the words substantial compliance. I know I'm getting stuck on

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Speaker 4: two words here. No, that's a good one to get

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Speaker 4: stuck on though. It's how carefully worded do you think

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Speaker 4: that had to be? And it just doesn't rink rereak

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Speaker 4: of strength, you know in the response.

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Speaker 2: No, I'd imagine the lawyers like that one.

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Speaker 4: So more to be sort of heard there on that story.

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Speaker 4: I think she're very very remarkable.

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Speaker 3: You win.

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Speaker 1: All right, it is one all this is very very

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Speaker 1: close now, Sean.

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Speaker 2: It's exciting.

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Speaker 1: Oh I think I am thrilled as big keV says,

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Speaker 1: I'm excited.

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Speaker 3: I'm excited.

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Speaker 1: I could have said that with a little more pep though.

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Speaker 3: Okay, quick break back in a moment.

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Speaker 1: All right, Sean, we have so far down our bigger

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Speaker 1: story and our most remarkable story, and we have each

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Speaker 1: one one. So it is currently even, which puts a

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Speaker 1: lot of pressure on these next too if we want

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Speaker 1: to secure a win. Our mystery story. Our mystery category

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Speaker 1: this week is back to the eighties.

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Speaker 3: Oh, my school reunion. Here we go. How was it?

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Speaker 3: We haven't discussed this.

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Speaker 1: You went to your you went to your was it

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Speaker 1: your sixty year year?

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Speaker 3: So it was fortieth? It was brilliant.

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Speaker 4: So in the room there was the ten year anniverse,

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Speaker 4: twenty thirty forty, There was no fifty, right?

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Speaker 2: So is that right?

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Speaker 3: This good Pithler?

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Speaker 4: And before it, you know, I was just speaking to

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Speaker 4: people about going over to Perth for the forty year

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Speaker 4: school reunion. And one lady she would have been our

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Speaker 4: thirty sent to me.

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Speaker 3: Oh any of you left, Yes, actually just a few

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Speaker 3: of us. So it was absolutely brilliant fun.

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Speaker 4: But you know, suffice to say, I've been swimming around

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Speaker 4: in eighties memorabilia ever since.

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Speaker 2: Well, this category is is it is made for you?

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Speaker 1: In that case, shall I go first on this one?

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Speaker 4: Now?

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Speaker 2: Yeah?

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Speaker 3: Okay, the.

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Speaker 1: Back to the eighties. The Federal Coalition announced its energy

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Speaker 1: plan this week, having officially dumped net zero. It is

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Speaker 1: a technology agnostic energy plan focusing on affordability with a

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Speaker 1: lot of gas. Opposition leader Susan Lee said the coalition

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Speaker 1: was not anti renewables, but they have to be in

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Speaker 1: the right place and they have to be balanced by

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Speaker 1: base load power. Now I would imagine that would be

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Speaker 1: the base load power provided by Australia's energy companies, who

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Speaker 1: all came out this week and declared they support the

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Speaker 1: government's net zero target and said that shifting to a

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Speaker 1: mostly renewable grid was the best way to keep bills

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Speaker 1: as low as possible. So we've got the coalition, adam

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Speaker 1: taking us back to the eighties with an old school

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Speaker 1: energy plan, while the power companies themselves, I say in

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Speaker 1: the energy transition is as much about system security and

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Speaker 1: policy certainty and stability as it is about emissions reduction.

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Speaker 1: Back to the eighties for the coalition with their energy

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Speaker 1: policy over to you Shan.

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Speaker 2: That is a great story though just on a technical

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Speaker 2: detail here. Now, let's not back back to the noughties.

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Speaker 2: It's not really the eighties. No one out of policy

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Speaker 2: in the eighties.

383
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Speaker 1: No, that is you know what you are the pedant

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Speaker 1: here it was syrenergy.

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Speaker 2: I'll tell you what back to the eighties is really about,

386
00:19:38,200 --> 00:19:41,080
Speaker 2: not the noughties. What the eighties is really about. Westpac

387
00:19:41,760 --> 00:19:46,440
Speaker 2: sending bankers to country towns. They'll be working from council offices,

388
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Speaker 2: local libraries one day, age fortnite. Won't be closing any

389
00:19:50,520 --> 00:19:52,679
Speaker 2: more rural branches now, a lot of pressure on all

390
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Speaker 2: the banks to do more for regional and rural Australia.

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Speaker 2: Twenty three percent of branches in inner regional areas twenty

392
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Speaker 2: nineteen percent in outer regional areas have closed over the

393
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Speaker 2: five last five years. So west Pak has come out

394
00:20:06,800 --> 00:20:09,159
Speaker 2: and said we're going to send bankers out there. I

395
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Speaker 2: think it's a great idea. Ain zed it joined west

396
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Speaker 2: Paks and well we won't close any branches till twenty thirty.

397
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Speaker 2: Westpac's come up with this new novel way to help out,

398
00:20:18,359 --> 00:20:21,960
Speaker 2: which is very eighties making sure there's someone around town

399
00:20:22,040 --> 00:20:25,399
Speaker 2: to help out. This is lateral thinking. It's a great idea.

400
00:20:25,560 --> 00:20:28,480
Speaker 2: Think you know, picture in your mind, Adam, Yes, shirt

401
00:20:28,520 --> 00:20:31,240
Speaker 2: and tie, square briefcase on.

402
00:20:31,240 --> 00:20:33,679
Speaker 3: The desk, large mobile phone.

403
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Speaker 2: Yeah, well probably, like you know, to be honest, the

404
00:20:36,359 --> 00:20:38,840
Speaker 2: mobile rather than a landline, and probably Apple Mac rather

405
00:20:38,840 --> 00:20:40,000
Speaker 2: than a Commodore sixty four.

406
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Speaker 1: Would you take a Newton's Cradle out of your briefcase?

407
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Speaker 2: Possibly? Possibly? Yeah, hete don't interrupt, this is important. Spectacles definitely,

408
00:20:49,680 --> 00:20:53,919
Speaker 2: cup of tea. Oh, my genius. This is a great idea.

409
00:20:54,280 --> 00:20:56,359
Speaker 2: This is that we're taking a back to the eighties, right,

410
00:20:56,400 --> 00:20:59,359
Speaker 2: they're good old eighties. You could smoke wherever you wanted to.

411
00:21:00,840 --> 00:21:03,840
Speaker 2: Corporal punishment for school children. You know, I got the

412
00:21:03,920 --> 00:21:07,520
Speaker 2: strap in the eighties. The Dewey decimal system in the life.

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Speaker 1: The Dewey decimal system are still there.

414
00:21:12,680 --> 00:21:15,760
Speaker 2: Well, no one knows. I don't care anymore. I think

415
00:21:16,359 --> 00:21:20,760
Speaker 2: and remember the phone books and landlines, the constant threat

416
00:21:20,840 --> 00:21:23,840
Speaker 2: of really you liked you liked and having one of

417
00:21:23,880 --> 00:21:28,560
Speaker 2: the parents answer, oh that was painful, tense, those were

418
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Speaker 2: the days West Pax bringing them back one for you.

419
00:21:32,160 --> 00:21:36,760
Speaker 2: Adam MTV started in nineteen eighty one. What was the

420
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Speaker 2: first video shown?

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Speaker 3: A video? Killed the radio stuff?

422
00:21:40,119 --> 00:21:42,000
Speaker 2: Oh, brilliant genius.

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Speaker 1: Which is appropriate, right yeah, the Buggles, yep, the Buggles.

424
00:21:46,520 --> 00:21:47,160
Speaker 3: It was a great piece.

425
00:21:47,200 --> 00:21:50,959
Speaker 2: That is well done, well done, Sean wins.

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Speaker 4: Yeah, so what the actual he I just don't think

427
00:21:59,119 --> 00:22:01,840
Speaker 4: that zero was really around in the eighties.

428
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Speaker 1: Okay, no, no, no, but okay, stop stop stop stop

429
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Speaker 1: stop stup stop up stop No, this is this is

430
00:22:06,760 --> 00:22:09,440
Speaker 1: an Alma stitch up. He goes, let's do back to

431
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Speaker 1: the eighties and maybe and I said, well, I really

432
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Speaker 1: want to do the coalition's energy policy. Yeah, you do that,

433
00:22:15,640 --> 00:22:17,399
Speaker 1: do that, that'll fit and I'll make sure that it's okay,

434
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Speaker 1: And instead he hung me out to dry.

435
00:22:20,280 --> 00:22:22,560
Speaker 2: Lying through your teeth, Michael, is there.

436
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Speaker 3: Any other way to do it?

437
00:22:25,480 --> 00:22:30,760
Speaker 1: Yes? Yeah, So this is a demerit point to Alma. Okay,

438
00:22:31,119 --> 00:22:34,160
Speaker 1: a bonus point to me, because that is complete Bolognian

439
00:22:34,200 --> 00:22:36,240
Speaker 1: bollocks and nonsense. And I object.

440
00:22:37,040 --> 00:22:40,600
Speaker 2: I think lying to the listeners means you should lose points.

441
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Speaker 3: Sean. Do you remember Bob Answaid and obviously so. And

442
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Speaker 3: it was a budget READICRD too.

443
00:22:48,119 --> 00:22:51,080
Speaker 4: They had policies where by executives from head office had

444
00:22:51,119 --> 00:22:53,320
Speaker 4: to go out and do the shop counter every month.

445
00:22:53,680 --> 00:22:56,520
Speaker 3: I got a rotationals. This is like it is generally.

446
00:22:56,840 --> 00:22:59,320
Speaker 4: What Westpac is doing is genuinely back to the eighties.

447
00:22:59,760 --> 00:23:00,960
Speaker 4: I do think it's a great thing.

448
00:23:01,640 --> 00:23:04,159
Speaker 3: It's great. So I love the story too.

449
00:23:05,440 --> 00:23:05,680
Speaker 2: Good?

450
00:23:06,280 --> 00:23:06,520
Speaker 3: Good?

451
00:23:06,840 --> 00:23:07,560
Speaker 2: Shall we move on?

452
00:23:07,800 --> 00:23:12,440
Speaker 1: Michael to Uan, I'm just googling this story. Energy policies

453
00:23:12,480 --> 00:23:13,680
Speaker 1: from the nineteen eighties.

454
00:23:14,040 --> 00:23:16,000
Speaker 2: You do that. Wow, I'll go and tell you my

455
00:23:16,119 --> 00:23:17,760
Speaker 2: favorite story I was.

456
00:23:18,240 --> 00:23:19,240
Speaker 1: I'm fine, you know what.

457
00:23:19,520 --> 00:23:20,119
Speaker 3: I'm fine.

458
00:23:20,400 --> 00:23:23,359
Speaker 1: I'm demanding a recount, and afterwards I shall be lodging

459
00:23:23,400 --> 00:23:25,040
Speaker 1: a formal appeal.

460
00:23:24,760 --> 00:23:28,080
Speaker 2: Against had Adam working with someone who has to google

461
00:23:28,200 --> 00:23:29,400
Speaker 2: everything all his life.

462
00:23:29,680 --> 00:23:31,359
Speaker 1: It's not my fault that I was only born in

463
00:23:31,440 --> 00:23:33,520
Speaker 1: the eighties and didn't live through it as a mid

464
00:23:33,640 --> 00:23:34,800
Speaker 1: to late twenty year old.

465
00:23:35,680 --> 00:23:37,760
Speaker 2: Let's just move on. Favorite news story? Can I tell

466
00:23:37,760 --> 00:23:41,000
Speaker 2: you mine? Adam? Yes, I want to finish this week

467
00:23:41,040 --> 00:23:47,359
Speaker 2: on something beautiful. Well, I mean, what's the basis of life, honestly?

468
00:23:48,040 --> 00:23:49,440
Speaker 3: Legacy food?

469
00:23:50,040 --> 00:23:51,080
Speaker 2: Can we live without food?

470
00:23:51,240 --> 00:23:51,280
Speaker 4: No?

471
00:23:52,600 --> 00:23:53,800
Speaker 2: How do we get food.

472
00:23:54,840 --> 00:23:56,040
Speaker 3: By using water to grow it?

473
00:23:56,720 --> 00:23:59,639
Speaker 2: We grow it uber? How do we how do we?

474
00:24:00,160 --> 00:24:00,960
Speaker 2: How do we? Yes?

475
00:24:02,640 --> 00:24:03,120
Speaker 3: Consumption?

476
00:24:03,800 --> 00:24:08,119
Speaker 2: That's right? Okay, how's food grown? It's pollinated? How is

477
00:24:08,160 --> 00:24:12,440
Speaker 2: it pollinated? The beautifully bees? So my story is about bees,

478
00:24:12,480 --> 00:24:15,440
Speaker 2: and so therefore it's about a beautiful story about wife life.

479
00:24:16,440 --> 00:24:24,600
Speaker 2: All white by the one have discovered painful Scientists have

480
00:24:24,720 --> 00:24:28,400
Speaker 2: discovered a new native bee species with tiny horns.

481
00:24:28,560 --> 00:24:30,160
Speaker 1: Pretty sure they die after mate.

482
00:24:29,960 --> 00:24:38,240
Speaker 2: It's gone off the track. It's a shambles. The new

483
00:24:38,320 --> 00:24:41,880
Speaker 2: bee is mega mega chili, make a mega child, mega

484
00:24:42,000 --> 00:24:43,600
Speaker 2: child Lucifer.

485
00:24:43,480 --> 00:24:46,040
Speaker 3: From w A Sean Yes. Now.

486
00:24:46,240 --> 00:24:50,159
Speaker 2: The lead scientists who discovered this bee, Kit Prentigast from

487
00:24:50,240 --> 00:24:54,920
Speaker 2: Curtin University. She liked the distinctive or highly distinctive prominent horns.

488
00:24:54,960 --> 00:24:58,520
Speaker 2: She was watching the Netflix show Lucifer at the time,

489
00:24:58,920 --> 00:25:03,399
Speaker 2: so she named the bee Lucifer. Beautiful story. Do you

490
00:25:03,480 --> 00:25:07,200
Speaker 2: know what I really love? Though? Kit? The researcher Joe,

491
00:25:07,280 --> 00:25:11,840
Speaker 2: she has discovered about two hundred new bee species in

492
00:25:12,240 --> 00:25:16,520
Speaker 2: and around Perth in her time, star herself by herself,

493
00:25:16,560 --> 00:25:18,600
Speaker 2: Oh my god, I wonder how many people out there

494
00:25:18,720 --> 00:25:21,120
Speaker 2: searching for new bee species when I hear that fact,

495
00:25:21,520 --> 00:25:26,240
Speaker 2: but that doesn't matter. Kid, pentagast, take a bow. Two

496
00:25:26,600 --> 00:25:30,960
Speaker 2: hundred new bee species. She's identified about two thousand b species.

497
00:25:31,359 --> 00:25:35,120
Speaker 2: Two hundred new ones, including the lucifer. What a beautiful

498
00:25:35,119 --> 00:25:39,840
Speaker 2: little story, something I don't know to feel good about

499
00:25:39,960 --> 00:25:42,520
Speaker 2: as you go into the rest of your Saturday. Michael,

500
00:25:42,560 --> 00:25:44,200
Speaker 2: what are you going to tell us your favorite story?

501
00:25:45,680 --> 00:25:50,520
Speaker 3: There's another stitch up from Sean. Don't lead low, Michael,

502
00:25:50,600 --> 00:25:54,040
Speaker 3: come in high. Okay, go Adam, Adam.

503
00:25:54,359 --> 00:25:58,159
Speaker 1: This week Australia lost its bid, our bid because we

504
00:25:58,280 --> 00:26:01,760
Speaker 1: are Australian to host the COP thirty one Climate Summit

505
00:26:01,880 --> 00:26:02,320
Speaker 1: next year.

506
00:26:02,560 --> 00:26:04,320
Speaker 3: No, we wait for it. Wait for it.

507
00:26:04,400 --> 00:26:06,160
Speaker 1: I'm going to tell you why. This is my favorite story.

508
00:26:06,280 --> 00:26:09,800
Speaker 1: We've been we we being Australia, have lobbied for this

509
00:26:10,040 --> 00:26:12,440
Speaker 1: for months. We've spent millions of dollars on our bid

510
00:26:13,119 --> 00:26:16,720
Speaker 1: in partnership with other Pacific nations, but Turkey when the

511
00:26:16,800 --> 00:26:19,280
Speaker 1: hosting rights. Instead, we're going to host it in Adelaide,

512
00:26:19,640 --> 00:26:22,600
Speaker 1: which would have been amazing, but it wasn't meant to be.

513
00:26:23,760 --> 00:26:26,919
Speaker 1: You know what this teaches us, though, Adam tell us Michael,

514
00:26:27,000 --> 00:26:31,800
Speaker 1: something something that Sean does not know much about.

515
00:26:32,359 --> 00:26:32,639
Speaker 3: Okay.

516
00:26:32,760 --> 00:26:40,040
Speaker 1: It teaches us how to be a gracious loser. Australia

517
00:26:40,240 --> 00:26:45,160
Speaker 1: has lost. But there's no dummy spits, there's no tantrums,

518
00:26:45,840 --> 00:26:49,520
Speaker 1: no been very good about it, the opposite. No one

519
00:26:49,680 --> 00:26:52,880
Speaker 1: shucking down their headphones and storming out of the studio,

520
00:26:53,000 --> 00:26:58,000
Speaker 1: which I actually think was me last week. Instead, instead,

521
00:26:58,160 --> 00:27:01,280
Speaker 1: the government proposed that Climate Change Energy Minister Chris Bowen

522
00:27:01,359 --> 00:27:03,760
Speaker 1: share the presidency of the event with Turkey, but I

523
00:27:03,880 --> 00:27:06,359
Speaker 1: and would also be the lead negotiator for the summit.

524
00:27:06,440 --> 00:27:08,520
Speaker 1: We get some pre summit events here in the Pacific.

525
00:27:09,119 --> 00:27:12,480
Speaker 1: Look at us, right, this is Australia showing the world

526
00:27:13,280 --> 00:27:17,000
Speaker 1: how to lose. Well, and Sean, you should be you

527
00:27:17,080 --> 00:27:18,520
Speaker 1: should be taking you should.

528
00:27:18,280 --> 00:27:21,320
Speaker 2: Be so proud, proud that Australia is showing the world

529
00:27:21,359 --> 00:27:21,880
Speaker 2: how to lose.

530
00:27:22,119 --> 00:27:25,040
Speaker 3: But I'll tell you what it sounds like, loser in

531
00:27:25,200 --> 00:27:25,639
Speaker 3: the world.

532
00:27:26,160 --> 00:27:28,520
Speaker 1: It sounds like we might have dodged a bullet. Though, well,

533
00:27:28,560 --> 00:27:30,320
Speaker 1: the government might have dodged a bullet because this thing

534
00:27:30,400 --> 00:27:33,399
Speaker 1: was going to cost one to two billion dollars to host.

535
00:27:34,359 --> 00:27:37,399
Speaker 1: And all the talk now is the fact that Anthony

536
00:27:37,440 --> 00:27:41,920
Speaker 1: Albenezy probably didn't actually mind losing this one because having

537
00:27:42,080 --> 00:27:45,040
Speaker 1: such an extreme focus on these climate initiatives here may

538
00:27:45,080 --> 00:27:47,840
Speaker 1: have actually boxed Australia into doing something that it didn't

539
00:27:47,960 --> 00:27:49,879
Speaker 1: end up wanting to do, as well as costing a

540
00:27:49,880 --> 00:27:51,959
Speaker 1: whole lot of money as it was would have been

541
00:27:51,960 --> 00:27:56,120
Speaker 1: then been leading into potentially an election year. It might

542
00:27:56,200 --> 00:27:58,639
Speaker 1: have dodged a bullet but which could explain why they

543
00:27:58,640 --> 00:28:03,119
Speaker 1: are being such gracious losers, which I personally.

544
00:28:04,480 --> 00:28:04,600
Speaker 4: Am.

545
00:28:05,240 --> 00:28:08,320
Speaker 2: I am, but that's a practicing Michael, that's a practice

546
00:28:08,320 --> 00:28:09,760
Speaker 2: thing because.

547
00:28:09,480 --> 00:28:10,320
Speaker 1: I lose so much.

548
00:28:11,880 --> 00:28:12,679
Speaker 3: Let's not forget.

549
00:28:12,920 --> 00:28:16,879
Speaker 1: Do you remember last year, Adam when Shawn chucked the

550
00:28:17,000 --> 00:28:19,879
Speaker 1: dummy spit to end all dummy spits and then refused

551
00:28:20,080 --> 00:28:22,960
Speaker 1: to do economics at all on the show for the

552
00:28:23,240 --> 00:28:23,920
Speaker 1: entire year.

553
00:28:25,600 --> 00:28:29,800
Speaker 2: Yeah, I apologize to the listeners because you then had

554
00:28:29,880 --> 00:28:32,159
Speaker 2: to put up with Michael doing economics.

555
00:28:32,560 --> 00:28:35,919
Speaker 1: Hey, you know, I put it in everyday terms as

556
00:28:35,960 --> 00:28:38,960
Speaker 1: the man of the people. Suddenly everyone understood what we

557
00:28:39,040 --> 00:28:42,520
Speaker 1: were talking about. None of this jargon. It was just

558
00:28:42,560 --> 00:28:45,120
Speaker 1: how it affects the everyday Joe and the on the

559
00:28:45,160 --> 00:28:48,520
Speaker 1: street Sally. There you go, Adam, judge that on.

560
00:28:48,640 --> 00:28:51,160
Speaker 2: The street to Sally. Yeah, poor phrase.

561
00:28:52,720 --> 00:28:55,680
Speaker 1: I take, I apologize, I retract and I take that

562
00:28:55,760 --> 00:28:56,160
Speaker 1: one back.

563
00:28:56,320 --> 00:28:56,880
Speaker 2: Goodness me.

564
00:28:58,640 --> 00:29:02,320
Speaker 4: Yeah, I'm gonna have to give this to Michael. I

565
00:29:02,520 --> 00:29:05,840
Speaker 4: know that this is yeah, well challenging that that.

566
00:29:06,120 --> 00:29:10,160
Speaker 3: I love bees, I really do, all and all.

567
00:29:10,600 --> 00:29:12,800
Speaker 4: They are a building block of the whole ecosystem, and

568
00:29:12,880 --> 00:29:16,240
Speaker 4: without it we are stuffed. So new bees bringing in

569
00:29:16,320 --> 00:29:18,880
Speaker 4: I'd love to know what the Queen megachild looks like.

570
00:29:20,000 --> 00:29:25,560
Speaker 2: We're big horns, huge, big, beefy, strong Lucifer stylehorn.

571
00:29:25,720 --> 00:29:28,800
Speaker 4: But losing that cockpit, the cost of putting that event

572
00:29:28,880 --> 00:29:30,600
Speaker 4: on the line to me is like, I don't know

573
00:29:30,640 --> 00:29:33,640
Speaker 4: if we get the return on investment. We certainly don't

574
00:29:33,680 --> 00:29:36,200
Speaker 4: have the policy certainty to be a celebrant of it.

575
00:29:36,840 --> 00:29:40,600
Speaker 4: You guys are dull, but I think we might have

576
00:29:40,680 --> 00:29:43,800
Speaker 4: won that. What really got me though, was losing, and

577
00:29:44,200 --> 00:29:48,000
Speaker 4: in all fairness and praise to Turkey, but losing the

578
00:29:48,120 --> 00:29:51,560
Speaker 4: Turkey and that government right now, it is like, yeah,

579
00:29:51,600 --> 00:29:52,480
Speaker 4: that's a bad loss.

580
00:29:53,000 --> 00:29:54,080
Speaker 2: What's wrong with Turkey?

581
00:29:54,640 --> 00:29:57,440
Speaker 3: Oh? The leadership, the economy.

582
00:29:57,560 --> 00:29:59,480
Speaker 2: I mean, well, the US is a much better option.

583
00:29:59,760 --> 00:30:02,320
Speaker 1: Well that wasn't in the race in his particular case,

584
00:30:02,720 --> 00:30:04,200
Speaker 1: it would have been Germany instead.

585
00:30:04,320 --> 00:30:06,760
Speaker 3: Right, Turkey, I've actually been there. I love it.

586
00:30:06,800 --> 00:30:09,600
Speaker 2: It's beautiful and an incredible country. But there's probably a

587
00:30:09,640 --> 00:30:14,160
Speaker 2: bunch of turks game stuff that leadership Australia. Imagine putting

588
00:30:14,160 --> 00:30:16,200
Speaker 2: it to Australia. How embarrassing for the world if we

589
00:30:16,280 --> 00:30:16,520
Speaker 2: did that.

590
00:30:17,880 --> 00:30:20,040
Speaker 1: I've got an energy policy that's out of the eighties.

591
00:30:23,080 --> 00:30:23,920
Speaker 2: They've got to be keV.

592
00:30:26,600 --> 00:30:29,080
Speaker 3: Story count to all two all.

593
00:30:30,640 --> 00:30:35,479
Speaker 4: Michael ninety one points, Oh no, Sean ninety one points.

594
00:30:36,720 --> 00:30:39,480
Speaker 2: Oh. I take that as a win.

595
00:30:41,680 --> 00:30:44,800
Speaker 1: Considering your stories this week, I should have you know what.

596
00:30:45,280 --> 00:30:47,600
Speaker 1: I think we both have the opportunity to be gracious

597
00:30:47,680 --> 00:30:50,280
Speaker 1: losers and I for one and reject it.

598
00:30:53,240 --> 00:30:55,640
Speaker 3: Draw well played, all right, good.

599
00:30:55,520 --> 00:30:58,800
Speaker 1: Stuff, Thank you very much, Sean, Thanks Michael, Thank you, Adam,

600
00:30:59,240 --> 00:31:01,680
Speaker 1: Thank you Michael. Make you sure make sure following the

601
00:31:01,720 --> 00:31:04,440
Speaker 1: podcast and head to Fearangreed dot com dot au to

602
00:31:04,520 --> 00:31:06,760
Speaker 1: sign up for our free daily newsletter. There is a

603
00:31:06,880 --> 00:31:09,000
Speaker 1: link as well in the show notes. I'm Michael Thompson

604
00:31:09,040 --> 00:31:10,800
Speaker 1: and that was Fear and Greed. Have a great weekend.

605
00:31:13,120 --> 00:31:13,160
Speaker 1: H