1 00:00:06,360 --> 00:00:08,880 Speaker 1: This is the Saturday edition of Fear and Greed business 2 00:00:08,880 --> 00:00:11,400 Speaker 1: news you can use. I'm Michael Thompson and good morning 3 00:00:11,440 --> 00:00:15,120 Speaker 1: Sean Aylmer. Good morning Michael, Sean. Our Saturday show is 4 00:00:15,120 --> 00:00:16,759 Speaker 1: all about the two of us, each nominating what we 5 00:00:16,760 --> 00:00:18,759 Speaker 1: think is the biggest business story of the week, the 6 00:00:18,760 --> 00:00:23,320 Speaker 1: most remarkable story, a mystery category that changes every week, 7 00:00:24,520 --> 00:00:28,240 Speaker 1: and our favorite story as well, often business adjacent. We 8 00:00:28,280 --> 00:00:30,040 Speaker 1: are joined every week by a judge to pick a 9 00:00:30,040 --> 00:00:34,320 Speaker 1: winner that judges our Fear and Greed colleague, Adam Lang Adam, 10 00:00:35,400 --> 00:00:37,520 Speaker 1: you're here this week at the start. 11 00:00:37,840 --> 00:00:41,080 Speaker 2: I made it God achievement. 12 00:00:41,600 --> 00:00:45,080 Speaker 3: Yes, as well dressed too, I would say. 13 00:00:44,720 --> 00:00:46,920 Speaker 2: I'm traveling the college shirt moment. 14 00:00:47,040 --> 00:00:51,320 Speaker 1: I like it, joining us remotely from a windowless room 15 00:00:52,040 --> 00:00:56,600 Speaker 1: with a lot of white surfaces around you. I've got 16 00:00:56,600 --> 00:00:58,240 Speaker 1: no idea where you are, and I'm just going to 17 00:00:58,320 --> 00:01:00,680 Speaker 1: leave that speculation as to where you could possibly be 18 00:01:00,760 --> 00:01:01,360 Speaker 1: joining us. 19 00:01:01,240 --> 00:01:02,720 Speaker 3: From Marrakesh toilet. 20 00:01:03,560 --> 00:01:06,000 Speaker 1: That has happened as well, hasn't it when you joined us? Sean? 21 00:01:06,080 --> 00:01:10,040 Speaker 1: So's I mean, there's precedent for odd recording booths around 22 00:01:10,040 --> 00:01:15,320 Speaker 1: the world. Let's jump into this so biggest story this week, 23 00:01:15,480 --> 00:01:18,959 Speaker 1: I mean, before we kind of get into what we're 24 00:01:19,040 --> 00:01:23,200 Speaker 1: putting forward. Obviously, obviously the conflict in the Middle East, 25 00:01:23,280 --> 00:01:27,240 Speaker 1: which started essentially a week ago today, that has absolutely 26 00:01:27,319 --> 00:01:31,000 Speaker 1: dominated the news this week, growing larger kind of day 27 00:01:31,000 --> 00:01:33,640 Speaker 1: by day, drawing in more countries, kind of one of 28 00:01:33,640 --> 00:01:37,440 Speaker 1: the biggest almost geopolitical shifts in decades. The assassination of 29 00:01:38,000 --> 00:01:41,600 Speaker 1: Iran supreme leader by the US and Israel, the retaliations, 30 00:01:41,959 --> 00:01:45,199 Speaker 1: the flow on effects of the global economy through oil 31 00:01:45,240 --> 00:01:49,280 Speaker 1: for instance, the movement of people around the world. Airport's closed. 32 00:01:50,200 --> 00:01:53,120 Speaker 1: It is the biggest story of the week, no doubt 33 00:01:53,160 --> 00:01:56,960 Speaker 1: about that. Right. With all of that said, we're now 34 00:01:57,000 --> 00:02:00,600 Speaker 1: looking for, essentially that the biggest local story, right, which 35 00:02:00,640 --> 00:02:02,680 Speaker 1: are inevitably going to be affected by what's happening in 36 00:02:02,720 --> 00:02:05,400 Speaker 1: the Middle East. Sean, would you like to kick us 37 00:02:05,440 --> 00:02:07,800 Speaker 1: off after that lengthy preamble. 38 00:02:08,040 --> 00:02:11,240 Speaker 3: Yes, yes, I'm weary after all that whatever, I mean, 39 00:02:11,600 --> 00:02:15,040 Speaker 3: massivef the economy, partly because of the Middle East. But 40 00:02:15,120 --> 00:02:18,080 Speaker 3: we had the Reserve Bank Governor Michelle Bullock talking at 41 00:02:18,120 --> 00:02:21,080 Speaker 3: a conference I think was Tuesday morning. She basically said 42 00:02:21,080 --> 00:02:24,320 Speaker 3: that interest rates and lifting interest rates are a live 43 00:02:24,600 --> 00:02:29,320 Speaker 3: option for the mid March meeting. Everyone seemed to think 44 00:02:29,360 --> 00:02:32,280 Speaker 3: that they'll wait for the late April CPI figures to 45 00:02:32,280 --> 00:02:34,639 Speaker 3: come out there make a decision in May. Well, she 46 00:02:34,800 --> 00:02:37,239 Speaker 3: turned that on it it's head. She basically said, no, 47 00:02:37,520 --> 00:02:39,760 Speaker 3: it's a live option as we go. Then we had 48 00:02:39,800 --> 00:02:45,400 Speaker 3: GDP figures come out on Wednesday. The economy pretty good, 49 00:02:45,440 --> 00:02:48,920 Speaker 3: two point six percent last calendar year. There's growth across 50 00:02:48,960 --> 00:02:51,600 Speaker 3: public and private sectors. You can argue that there shouldn't 51 00:02:51,600 --> 00:02:53,800 Speaker 3: be as much growth across the public sector as there is, 52 00:02:54,280 --> 00:02:58,560 Speaker 3: but there is productivity improved, the savings rate improved. All 53 00:02:58,600 --> 00:03:04,800 Speaker 3: important household spending tapering some whatte but discretionary spending is 54 00:03:04,840 --> 00:03:07,040 Speaker 3: actually on a tear. Adam, did you go into the 55 00:03:07,080 --> 00:03:08,480 Speaker 3: ac DC last year? 56 00:03:09,520 --> 00:03:11,360 Speaker 4: I didn't sean oasis. 57 00:03:12,440 --> 00:03:13,200 Speaker 2: No, I didn't sh. 58 00:03:13,360 --> 00:03:17,440 Speaker 4: Metallica, I didn't Ash's cricket. 59 00:03:19,080 --> 00:03:20,760 Speaker 2: I did, Sure you did. 60 00:03:20,880 --> 00:03:21,560 Speaker 4: There you go one. 61 00:03:22,080 --> 00:03:24,760 Speaker 3: I'm zero out of four, Michael, you'd be like minus 62 00:03:24,760 --> 00:03:25,239 Speaker 3: one out. 63 00:03:25,080 --> 00:03:28,799 Speaker 1: Of four, abs Adam. Adam was representing us for the economs, right. 64 00:03:28,840 --> 00:03:30,840 Speaker 4: We've averaged a third out of four. 65 00:03:30,880 --> 00:03:32,600 Speaker 3: The point is people spending a lot of money on 66 00:03:32,639 --> 00:03:35,800 Speaker 3: that stuff, and people had the money to spend. Put 67 00:03:35,840 --> 00:03:41,640 Speaker 3: all this into the mix master. Yes, the mixed Master. 68 00:03:41,840 --> 00:03:43,360 Speaker 3: What do we get at the end of the week 69 00:03:43,640 --> 00:03:46,760 Speaker 3: that we weren't real sure of a week ago. Well, 70 00:03:46,880 --> 00:03:50,600 Speaker 3: we get that an increase in interest rates is a 71 00:03:50,720 --> 00:03:54,720 Speaker 3: truly live option come the middle of this month. So 72 00:03:54,720 --> 00:03:59,080 Speaker 3: it's Tuesday week when we're talking about still probably more 73 00:03:59,200 --> 00:04:02,320 Speaker 3: likely to be in May, and most people think there 74 00:04:02,360 --> 00:04:07,280 Speaker 3: will be a raid hike. But all that data, Michelle 75 00:04:07,280 --> 00:04:12,360 Speaker 3: Bullock talking very and the fact that oil prices. 76 00:04:11,960 --> 00:04:12,720 Speaker 4: Will go through the roof. 77 00:04:12,760 --> 00:04:15,119 Speaker 3: I'm sure Michael probably crap on about something like that, 78 00:04:15,320 --> 00:04:18,719 Speaker 3: but yeah, that's obviously feeding into the inflation story. 79 00:04:18,800 --> 00:04:19,800 Speaker 4: Michael crap on. 80 00:04:19,920 --> 00:04:24,000 Speaker 1: Crap on, indeed, I shall before I do that. You 81 00:04:24,279 --> 00:04:27,880 Speaker 1: just just spitballing here, Sean, just listening to what you're 82 00:04:27,880 --> 00:04:30,320 Speaker 1: talking about there and the tossing it all into the 83 00:04:30,320 --> 00:04:32,960 Speaker 1: mix master. Well, you know how we've got the fear 84 00:04:33,000 --> 00:04:36,400 Speaker 1: and grew neutribullet. Now this is my point. Actually, you 85 00:04:36,440 --> 00:04:38,080 Speaker 1: know how we've got the fear and greed mug, the 86 00:04:38,120 --> 00:04:39,760 Speaker 1: me and mug. When we've got some fear and greed 87 00:04:39,800 --> 00:04:45,240 Speaker 1: caps branded merch for your fear and greed kitchen, I 88 00:04:45,360 --> 00:04:48,960 Speaker 1: like it right. Imagine that a partnership would say Brevel 89 00:04:49,120 --> 00:04:52,080 Speaker 1: or Neutra bullet or kind of mixed mask whoever makes 90 00:04:52,120 --> 00:04:55,279 Speaker 1: mixed masters Ken, would any of those ones that would 91 00:04:55,320 --> 00:04:59,120 Speaker 1: be made stat outside that would be happy to do 92 00:04:59,279 --> 00:05:01,039 Speaker 1: a partnership a collaboration. 93 00:05:01,240 --> 00:05:01,920 Speaker 4: Tell are they. 94 00:05:01,880 --> 00:05:05,040 Speaker 2: Still around something? 95 00:05:05,279 --> 00:05:10,200 Speaker 3: What do you seem to have all these appliances are 96 00:05:10,760 --> 00:05:14,960 Speaker 3: it's a Japanese like Japanese warrior name Ninja Ninja. 97 00:05:15,440 --> 00:05:17,800 Speaker 1: Have you got have you got the slushy maker? Have 98 00:05:17,839 --> 00:05:20,920 Speaker 1: you got the Ninja slushy maker? So that was the 99 00:05:21,360 --> 00:05:25,440 Speaker 1: like the it appliance of the summer just gone. 100 00:05:25,680 --> 00:05:27,680 Speaker 2: Yeah, it was. 101 00:05:27,839 --> 00:05:29,880 Speaker 1: It's top notch. So you can put anything in there, 102 00:05:29,880 --> 00:05:33,440 Speaker 1: anything liquid, and it slushifies it. And so in the 103 00:05:33,520 --> 00:05:35,880 Speaker 1: end that you can have any kind of alcoholic slushy 104 00:05:35,920 --> 00:05:37,839 Speaker 1: you want or non alcoholic if you're doing it for 105 00:05:37,880 --> 00:05:38,360 Speaker 1: the kids. 106 00:05:38,680 --> 00:05:41,400 Speaker 4: Kind of okay, we do have those ones. 107 00:05:41,600 --> 00:05:44,040 Speaker 1: Yeah, And it is it is just and it's got 108 00:05:44,080 --> 00:05:45,680 Speaker 1: the like the handle at the front, so it's like 109 00:05:45,720 --> 00:05:48,600 Speaker 1: you're kind of pulling a beer. It's just it's amazing. 110 00:05:49,080 --> 00:05:49,839 Speaker 4: Are you actually going to. 111 00:05:50,279 --> 00:05:54,520 Speaker 3: Put a sort of story into this particular show or not? 112 00:05:54,760 --> 00:05:55,960 Speaker 1: Yes, bigger story of the week. 113 00:05:56,080 --> 00:05:59,720 Speaker 3: Yes, markets really Adams something to take note. 114 00:05:59,760 --> 00:06:01,720 Speaker 4: He's a avoiding it. Go on market, if I have. 115 00:06:01,720 --> 00:06:05,839 Speaker 1: To enter a story markets week of extremes right starting 116 00:06:05,839 --> 00:06:09,680 Speaker 1: the week kind of the ASX near all time highs 117 00:06:09,720 --> 00:06:12,680 Speaker 1: just and it was really wary to begin the week 118 00:06:12,760 --> 00:06:14,800 Speaker 1: kind of what the effect of the Middle East conflict 119 00:06:14,880 --> 00:06:17,160 Speaker 1: was going to be. Then we had massive plunges one 120 00:06:17,160 --> 00:06:19,839 Speaker 1: point three percent one day, then one point nine percent 121 00:06:19,920 --> 00:06:23,120 Speaker 1: the next day, and one day sixty three billion dollars 122 00:06:23,120 --> 00:06:26,800 Speaker 1: in value was wiped off the local boss and like 123 00:06:26,839 --> 00:06:28,640 Speaker 1: it was, I think Sean you talked about it through 124 00:06:28,640 --> 00:06:31,600 Speaker 1: the week being the biggest drop since April last year, 125 00:06:31,640 --> 00:06:34,160 Speaker 1: since the Liberation Day tariffs. It came in, but it 126 00:06:34,200 --> 00:06:36,680 Speaker 1: wasn't just here. It was at wall streets as well 127 00:06:36,800 --> 00:06:39,640 Speaker 1: Asian markets, and it's really all over these concerns about 128 00:06:40,320 --> 00:06:45,400 Speaker 1: the conflict being prolonged, and not just prolonged but broader 129 00:06:46,400 --> 00:06:49,600 Speaker 1: in the in the Middle East, the impact on oil prices, 130 00:06:50,440 --> 00:06:53,160 Speaker 1: that flow on effects then for inflation and the potential 131 00:06:53,279 --> 00:06:57,760 Speaker 1: end for less chance of rate cuts in the US. 132 00:06:58,040 --> 00:07:03,000 Speaker 1: These are very very very very volatile times and you 133 00:07:03,080 --> 00:07:05,320 Speaker 1: kind of then you look at the flow and effective 134 00:07:05,360 --> 00:07:07,560 Speaker 1: oil prices to fuel prices and how that's going to 135 00:07:07,560 --> 00:07:15,480 Speaker 1: affect us all markets, Adam markets. That's just in one 136 00:07:15,520 --> 00:07:20,040 Speaker 1: word markets. 137 00:07:17,960 --> 00:07:21,800 Speaker 2: From the fear and Greek kitchen. Range of appliances to 138 00:07:22,000 --> 00:07:28,239 Speaker 2: markets and the economy. So massive week, Governor Michelle Bullock. 139 00:07:29,440 --> 00:07:34,080 Speaker 2: It's such a spectator sport. I think, given where we 140 00:07:34,120 --> 00:07:37,880 Speaker 2: are with the data and just how much impact politics 141 00:07:37,920 --> 00:07:40,240 Speaker 2: is having on it. Like Sean, you made the comment 142 00:07:40,320 --> 00:07:43,760 Speaker 2: this week gold is not behaving like a safe haven asset. 143 00:07:44,520 --> 00:07:46,960 Speaker 3: Very very naughty boy. 144 00:07:50,240 --> 00:07:53,680 Speaker 2: Michael has to win the biggest story of the week 145 00:07:53,920 --> 00:07:54,480 Speaker 2: this week. 146 00:07:55,560 --> 00:07:59,360 Speaker 1: Okay, I think that's fair judgment. I mean, obviously, obviously 147 00:07:59,400 --> 00:08:06,200 Speaker 1: I've got slightly biased on that, Sean most remarkable story. 148 00:08:06,200 --> 00:08:07,920 Speaker 1: There are a few around I think. 149 00:08:08,560 --> 00:08:10,760 Speaker 4: I'm still stunned from the judgment. 150 00:08:11,280 --> 00:08:11,760 Speaker 1: Oh really? 151 00:08:12,120 --> 00:08:12,360 Speaker 4: Yeah? 152 00:08:12,880 --> 00:08:16,640 Speaker 1: Oh okay, So I thought I took your silence for agreement. 153 00:08:17,160 --> 00:08:19,520 Speaker 1: I thought supporting the judge. 154 00:08:19,600 --> 00:08:21,600 Speaker 2: Really really, that's right? 155 00:08:21,920 --> 00:08:23,960 Speaker 1: All right, Well, shall I drop me to do most 156 00:08:23,960 --> 00:08:26,280 Speaker 1: remarkable while you continue your recovery? 157 00:08:27,160 --> 00:08:27,800 Speaker 4: Yeah? 158 00:08:27,840 --> 00:08:32,240 Speaker 1: Okay, acknowledging my bias in this one, and Adam, I'm 159 00:08:32,280 --> 00:08:37,480 Speaker 1: assuming subjective bias is one of your criteria for judging. Still, yes, 160 00:08:37,960 --> 00:08:40,760 Speaker 1: it's good, okay, all right. We need to talk about 161 00:08:40,880 --> 00:08:44,600 Speaker 1: radio and we need to talk about the disintegration of 162 00:08:44,679 --> 00:08:47,360 Speaker 1: the Kyle and Jackie Oh Show. After more than two 163 00:08:47,400 --> 00:08:51,959 Speaker 1: decades together, this is one of the all time great 164 00:08:52,280 --> 00:08:56,760 Speaker 1: radio shows in Australian radio history. Listen to it, yeah, 165 00:08:57,240 --> 00:08:58,800 Speaker 1: many times. 166 00:08:58,559 --> 00:09:01,400 Speaker 2: But that's not a qualitative judgment person. 167 00:09:01,160 --> 00:09:04,160 Speaker 1: No, I mean all you need to look at right 168 00:09:04,320 --> 00:09:07,800 Speaker 1: is the ratings, and you need to look at the 169 00:09:07,840 --> 00:09:10,400 Speaker 1: revenue that this show was brought in over a long 170 00:09:10,400 --> 00:09:13,880 Speaker 1: period of time, and also the way that it was 171 00:09:13,960 --> 00:09:17,880 Speaker 1: able to entirely change the fortunes of radio stations and 172 00:09:17,880 --> 00:09:20,920 Speaker 1: the companies that owned them as well. So, for instance, 173 00:09:21,080 --> 00:09:24,520 Speaker 1: in twenty thirteen, I think it was that they moved 174 00:09:24,520 --> 00:09:28,640 Speaker 1: from Kyl and Jackio in Sydney, defected from TODAYFM and 175 00:09:28,679 --> 00:09:31,720 Speaker 1: went across to what was then then became the new 176 00:09:31,840 --> 00:09:34,440 Speaker 1: Kiss FM, And in doing so they did one of 177 00:09:34,480 --> 00:09:39,480 Speaker 1: the most rare things in radio, which is they successfully 178 00:09:39,520 --> 00:09:42,760 Speaker 1: took their audience with them from one station to another, 179 00:09:43,000 --> 00:09:45,920 Speaker 1: which just it really doesn't happen, And the fact that 180 00:09:45,920 --> 00:09:47,520 Speaker 1: they were able to do that just shows kind of 181 00:09:47,559 --> 00:09:51,920 Speaker 1: how influential they were as broadcast as anyway. A couple 182 00:09:51,960 --> 00:09:54,960 Speaker 1: of years ago, twenty twenty three, a ten year, two 183 00:09:55,040 --> 00:10:00,760 Speaker 1: hundred million dollar deal, the biggest deal in Australian radio history. 184 00:10:00,840 --> 00:10:04,080 Speaker 1: In terms of personalities, they were the most highly paid 185 00:10:04,120 --> 00:10:08,559 Speaker 1: media personalities in the country. But it appears that maybe 186 00:10:08,880 --> 00:10:12,200 Speaker 1: maybe they had bitten off more than they could chew 187 00:10:12,240 --> 00:10:15,120 Speaker 1: with that, especially with the expansion into Melbourne where it 188 00:10:15,280 --> 00:10:18,240 Speaker 1: just didn't work. The show didn't work. Tensions have been 189 00:10:18,960 --> 00:10:21,760 Speaker 1: rising apparently, and then there was a big bus up 190 00:10:21,760 --> 00:10:25,400 Speaker 1: of fortnit Ago, ostensibly over kind of Jackie's focus on 191 00:10:25,480 --> 00:10:27,240 Speaker 1: star charts and things, but it feels like there is 192 00:10:27,320 --> 00:10:29,800 Speaker 1: kind of more to this, and there was a notice 193 00:10:29,840 --> 00:10:32,280 Speaker 1: to the ASX from ARN Media saying that Jackie O 194 00:10:32,320 --> 00:10:35,600 Speaker 1: can no longer work with Kyle and then alleging then 195 00:10:35,679 --> 00:10:38,520 Speaker 1: that Kyle had breached his contract because of the way 196 00:10:38,520 --> 00:10:42,560 Speaker 1: he'd behaved in that segment on air. But really the 197 00:10:42,679 --> 00:10:46,080 Speaker 1: money involved in this, the size of the audience involved 198 00:10:46,120 --> 00:10:49,960 Speaker 1: in this, the advertisers, and the potential lend for this 199 00:10:50,040 --> 00:10:54,480 Speaker 1: to actually change the shape of the radio industry. Yes, 200 00:10:54,679 --> 00:10:56,720 Speaker 1: mostly in Sydney, but the flow on effect then to 201 00:10:56,760 --> 00:11:01,400 Speaker 1: the networks around the country is big. And Adam, you 202 00:11:01,760 --> 00:11:05,240 Speaker 1: would have a very interesting take on this. I suspect 203 00:11:05,320 --> 00:11:08,560 Speaker 1: because you have not just worked in senior roles in radio, 204 00:11:08,640 --> 00:11:11,280 Speaker 1: you have worked in a senior role with Kyle and Jackie. 205 00:11:11,320 --> 00:11:14,319 Speaker 1: Oh and so you've seen them firsthand? 206 00:11:15,440 --> 00:11:17,839 Speaker 4: Yes, what do you make of it? 207 00:11:18,080 --> 00:11:20,040 Speaker 1: Are you surprised to see it come to an end 208 00:11:20,080 --> 00:11:22,560 Speaker 1: in such a fiery way, especially when they were so 209 00:11:23,000 --> 00:11:24,839 Speaker 1: really kind of a year and a bit into a 210 00:11:25,120 --> 00:11:26,160 Speaker 1: into a ten year deal. 211 00:11:27,559 --> 00:11:31,400 Speaker 2: Look sure, first, without prejudging this category, before Sean's had his. 212 00:11:31,600 --> 00:11:35,000 Speaker 3: Go, you and your parochial friend you get it over 213 00:11:35,040 --> 00:11:37,080 Speaker 3: and done with just have been just dump me. I 214 00:11:37,080 --> 00:11:39,280 Speaker 3: mean we were like little Sydney stories because that's where 215 00:11:39,320 --> 00:11:39,920 Speaker 3: you guys are from. 216 00:11:39,960 --> 00:11:42,480 Speaker 4: I get that. I figure this. 217 00:11:43,400 --> 00:11:47,920 Speaker 2: Is responses, you know when they do the vox pops 218 00:11:47,920 --> 00:11:49,840 Speaker 2: on the news and people have gone who you know, 219 00:11:49,920 --> 00:11:53,520 Speaker 2: to Colin, JACKIEO through too. I can't believe this has happened, 220 00:11:53,679 --> 00:11:56,920 Speaker 2: you know, you get that whole kind of normal distribution, 221 00:11:57,040 --> 00:12:02,400 Speaker 2: the YU curve. But oh, two hundred million dollars is 222 00:12:02,440 --> 00:12:05,080 Speaker 2: at stake here, ten million dollars each for ten years. 223 00:12:05,120 --> 00:12:08,080 Speaker 2: They've done one year only, and you'd think if you 224 00:12:08,120 --> 00:12:11,040 Speaker 2: had ten million dollars each on the hook right for 225 00:12:11,080 --> 00:12:15,080 Speaker 2: another nine years, like contracted, you'd find a way to 226 00:12:15,120 --> 00:12:15,920 Speaker 2: make this work. 227 00:12:16,320 --> 00:12:18,440 Speaker 4: And so I must really dislike each other. 228 00:12:19,160 --> 00:12:24,240 Speaker 1: Yeah, incredible, and considering they've been so close for so 229 00:12:24,480 --> 00:12:27,319 Speaker 1: long and have been kind of integral to each other's 230 00:12:27,320 --> 00:12:31,240 Speaker 1: success as well. I just find that it's an extraordinary 231 00:12:31,280 --> 00:12:33,800 Speaker 1: turn of events. Anyway, at Sean, you go through your 232 00:12:33,800 --> 00:12:37,520 Speaker 1: little breakyard for now, it might come up again later. 233 00:12:37,600 --> 00:12:38,480 Speaker 1: I can't rule it out. 234 00:12:38,840 --> 00:12:41,240 Speaker 3: Telling one that really matters to every director out there, 235 00:12:41,280 --> 00:12:44,920 Speaker 3: what's gone on and the finding in federal court Thursday, 236 00:12:44,920 --> 00:12:48,000 Speaker 3: I think it was about the former Stay and TAMA 237 00:12:48,040 --> 00:12:51,560 Speaker 3: chief executive Matt Becky. Basically, just as Michael Lee found 238 00:12:51,559 --> 00:12:54,080 Speaker 3: that he broke the law by failing to take seriously 239 00:12:54,080 --> 00:12:57,560 Speaker 3: the risk that junket operators may have been laundering money 240 00:12:57,600 --> 00:13:00,080 Speaker 3: and not properly informing the board that there was a 241 00:13:00,120 --> 00:13:03,319 Speaker 3: serious threats. So he got found having broken the law 242 00:13:03,400 --> 00:13:06,640 Speaker 3: on that basis. Similar findings against Starr's former chief legal 243 00:13:06,679 --> 00:13:10,040 Speaker 3: and risk officer Paula Martin. However, the part everyone was 244 00:13:10,080 --> 00:13:13,880 Speaker 3: watching Assek was saying the board should have known, and 245 00:13:13,920 --> 00:13:18,280 Speaker 3: the federal court did not find the directors of the 246 00:13:18,360 --> 00:13:22,560 Speaker 3: company were also liable. I tell you what, there are 247 00:13:22,559 --> 00:13:27,280 Speaker 3: a few directors around the place who just signed a 248 00:13:27,559 --> 00:13:33,360 Speaker 3: huge sigh of relief because basically, the judge said without 249 00:13:33,440 --> 00:13:36,720 Speaker 3: prejudicing anything he said. He said, you know, you CEOs 250 00:13:36,760 --> 00:13:40,640 Speaker 3: and managers, you give them so much information, sometimes with 251 00:13:40,720 --> 00:13:43,280 Speaker 3: two hours notice, and you expect them to be across it. 252 00:13:43,600 --> 00:13:43,760 Speaker 2: Now. 253 00:13:43,880 --> 00:13:46,520 Speaker 3: One of the great quotes he talked about the information 254 00:13:46,600 --> 00:13:51,080 Speaker 3: to the starboard was I quote oppressive executive summaries, longer 255 00:13:51,080 --> 00:13:55,120 Speaker 3: summaries of the summaries, detailed papers, followed by appendices, anxers, 256 00:13:55,240 --> 00:13:59,280 Speaker 3: and technical attachments. What it's trying to say is how 257 00:13:59,320 --> 00:14:02,120 Speaker 3: the hell can a board remember get through all that? 258 00:14:02,520 --> 00:14:05,959 Speaker 3: He did blast the board, he said, you know, as board, 259 00:14:06,559 --> 00:14:09,120 Speaker 3: as directors of a listed company, we expect more from 260 00:14:09,160 --> 00:14:12,959 Speaker 3: you than what you gave. But I actually think it's 261 00:14:13,000 --> 00:14:18,960 Speaker 3: quite a remarkable test case for directors in this country particularly, 262 00:14:19,000 --> 00:14:21,680 Speaker 3: and in a sense they won it because the CEO 263 00:14:21,800 --> 00:14:23,360 Speaker 3: was found I had to have a break or to 264 00:14:23,480 --> 00:14:27,360 Speaker 3: have been responsible, and the chief lawyer was found to 265 00:14:27,400 --> 00:14:30,560 Speaker 3: have been responsible because they didn't take enough action to 266 00:14:30,640 --> 00:14:32,680 Speaker 3: check out whether it was money laundering, they didn't inform 267 00:14:32,760 --> 00:14:37,080 Speaker 3: the board in a timely manner, and probably the most 268 00:14:37,160 --> 00:14:40,640 Speaker 3: remarkable kind of corp white color crime case in the 269 00:14:40,680 --> 00:14:43,600 Speaker 3: last few years. I would argue, I'm just trying to 270 00:14:43,600 --> 00:14:45,640 Speaker 3: think them could have that one hundred percent wrong. But 271 00:14:45,720 --> 00:14:47,760 Speaker 3: I'm just trying to think of something that might match that. 272 00:14:47,840 --> 00:14:50,360 Speaker 3: In the last couple of years, I don't think so. 273 00:14:51,360 --> 00:14:53,680 Speaker 3: It would have been totally remarkable, biggest story of the 274 00:14:53,720 --> 00:14:56,880 Speaker 3: week if the board were found guilty, So it would 275 00:14:56,880 --> 00:14:59,120 Speaker 3: have made it the biggest story of the week. They weren't, 276 00:14:59,640 --> 00:15:04,480 Speaker 3: so that I set the president, but fascinating, remarkable. 277 00:15:04,320 --> 00:15:08,040 Speaker 1: Yeah, Sean Wins. 278 00:15:08,240 --> 00:15:14,080 Speaker 2: The impact on this decision from against directors. 279 00:15:13,440 --> 00:15:14,200 Speaker 4: Worked against you. 280 00:15:14,800 --> 00:15:19,880 Speaker 1: Ah, yeah, I suspect that was inevitable, but I got 281 00:15:19,960 --> 00:15:21,240 Speaker 1: everything off my chest that I. 282 00:15:21,200 --> 00:15:23,120 Speaker 4: Needed to see nowadays. 283 00:15:23,480 --> 00:15:29,200 Speaker 1: Yeah, that's right. And so of course responsible is radio 284 00:15:29,280 --> 00:15:31,600 Speaker 1: days behind him. He doesn't care about what happens to 285 00:15:31,640 --> 00:15:35,239 Speaker 1: Kyle and Jackie O now sorry, go ahead him. 286 00:15:35,600 --> 00:15:36,960 Speaker 3: Are you here, Adam, Oh you are? 287 00:15:37,000 --> 00:15:42,520 Speaker 4: As it turns out to go on, So. 288 00:15:42,760 --> 00:15:46,200 Speaker 2: Client Jack spectacular and you know, Mammoth Steel for all 289 00:15:46,240 --> 00:15:50,360 Speaker 2: the reasons discussed and incredibly important to ARN as a 290 00:15:50,520 --> 00:15:54,440 Speaker 2: company and to some in media beyond that. But the 291 00:15:54,480 --> 00:15:56,960 Speaker 2: impact of this decision, I think for every director is 292 00:15:57,240 --> 00:16:01,000 Speaker 2: very relevant, and so all three of us directors, you know, 293 00:16:01,120 --> 00:16:04,320 Speaker 2: so it matters to us what our response. 294 00:16:04,880 --> 00:16:07,680 Speaker 3: It must have to be across things we're supposed to 295 00:16:07,760 --> 00:16:08,480 Speaker 3: understand what's going on. 296 00:16:08,640 --> 00:16:11,400 Speaker 2: You know those long ops meetings I do in all 297 00:16:11,520 --> 00:16:14,120 Speaker 2: the notes, you know, yeah, he's got to read them. 298 00:16:15,200 --> 00:16:17,680 Speaker 3: Really, I just tape them and I just put them 299 00:16:17,720 --> 00:16:19,840 Speaker 3: on in my ear face as I fall asleep at night. 300 00:16:20,080 --> 00:16:23,800 Speaker 1: This is just starting now, right right, this is yeah. 301 00:16:23,440 --> 00:16:25,320 Speaker 3: Like you've got that asset case this week, Michael. 302 00:16:28,440 --> 00:16:30,920 Speaker 1: Anyway, Oh we shouldn't Sewan wins. 303 00:16:31,040 --> 00:16:33,760 Speaker 2: Impact on directors is immense and Sean Lowe, I think 304 00:16:33,840 --> 00:16:38,280 Speaker 2: many directors is waiting on this trial, going if this 305 00:16:38,480 --> 00:16:42,280 Speaker 2: goes yeah, if this goes against the board. But you 306 00:16:42,280 --> 00:16:44,320 Speaker 2: know when I was said to hey, there's an expectation 307 00:16:44,360 --> 00:16:45,680 Speaker 2: when you sign on to what you've got to read 308 00:16:45,720 --> 00:16:48,280 Speaker 2: the papers. So it's on yeah, right, But then for 309 00:16:48,320 --> 00:16:50,160 Speaker 2: this decision to come out, it is remarkable. 310 00:16:50,520 --> 00:16:53,200 Speaker 3: Remember many years there with the one Tell case where 311 00:16:53,200 --> 00:16:55,640 Speaker 3: a couple of very high profit unionaire has got into 312 00:16:55,640 --> 00:17:02,320 Speaker 3: all sorts of trouble and Adam, Adam, we're not mentioning. 313 00:17:02,920 --> 00:17:04,880 Speaker 4: Sorry, yeah, back off. 314 00:17:05,760 --> 00:17:08,400 Speaker 3: Anyway, I remember talking to someone about the case, someone 315 00:17:08,440 --> 00:17:10,760 Speaker 3: heavily involved, and they said they didn't read the board papers, 316 00:17:11,080 --> 00:17:15,720 Speaker 3: and like that was the allegation. I'm adding, But how 317 00:17:15,720 --> 00:17:18,639 Speaker 3: many directors get. I mean, I've been a director of 318 00:17:18,680 --> 00:17:21,400 Speaker 3: things and you, Oh my god, there's this wealth of information. 319 00:17:21,400 --> 00:17:23,760 Speaker 4: It's almost impossible for hundreds of pages. 320 00:17:24,760 --> 00:17:26,919 Speaker 3: There was a report by a guy called John lakeaup 321 00:17:27,000 --> 00:17:29,239 Speaker 3: on Commonwealth Bank a few years back when it was 322 00:17:29,440 --> 00:17:33,000 Speaker 3: run under its Matt Commons predecessor and in a rev 323 00:17:33,119 --> 00:17:35,560 Speaker 3: and they're basically it just said the gobbledygook that the 324 00:17:35,600 --> 00:17:37,320 Speaker 3: management came and gave the board, and the board had 325 00:17:37,320 --> 00:17:40,160 Speaker 3: no chance of actually understanding any of it. And it's 326 00:17:40,320 --> 00:17:41,320 Speaker 3: obviously still going on. 327 00:17:42,280 --> 00:17:43,400 Speaker 1: Okay, why don't we go on? 328 00:17:44,119 --> 00:17:44,600 Speaker 2: There we go. 329 00:17:44,760 --> 00:17:48,560 Speaker 1: It sounds like a pretty close battle. It is very 330 00:17:48,920 --> 00:17:51,400 Speaker 1: very close battle. I'm assuming the points reflect that as well. 331 00:17:51,440 --> 00:17:53,000 Speaker 1: We'll take a quick break and come back with our 332 00:17:53,040 --> 00:18:02,000 Speaker 1: mystery story of the week. Okay, Sean, we're looking for 333 00:18:02,040 --> 00:18:04,440 Speaker 1: our mystery category. Adam has just shown us that subjective 334 00:18:04,440 --> 00:18:06,000 Speaker 1: bias doesn't matter anymore. 335 00:18:07,080 --> 00:18:08,560 Speaker 4: Very neutral. In recent times. 336 00:18:10,240 --> 00:18:13,879 Speaker 3: He went against for economics story, he went against his 337 00:18:14,119 --> 00:18:16,800 Speaker 3: favorite radio story. Remember the last couple of weeks, he's 338 00:18:16,840 --> 00:18:18,560 Speaker 3: voted against corporate tax reform. 339 00:18:18,800 --> 00:18:22,160 Speaker 1: Yeah, he hates capital gains tax, any kind of tax reform. 340 00:18:22,520 --> 00:18:25,479 Speaker 3: And yeah, yeah, that's true. 341 00:18:25,600 --> 00:18:28,119 Speaker 4: Adam the fact Stone by ste. 342 00:18:29,720 --> 00:18:29,840 Speaker 2: Now. 343 00:18:29,880 --> 00:18:32,400 Speaker 3: Admittedly last week when he voted against it, he hadn't 344 00:18:32,440 --> 00:18:34,360 Speaker 3: heard my entry because he was asleep at the time 345 00:18:34,400 --> 00:18:36,200 Speaker 3: and he got into the shot halfway through it. 346 00:18:36,480 --> 00:18:40,119 Speaker 1: Yeah. Can I just say last this time last week 347 00:18:40,840 --> 00:18:45,720 Speaker 1: Adam and I were guests of the team at Lrel 348 00:18:46,040 --> 00:18:49,040 Speaker 1: took us to the sale GP in Sydney, which was 349 00:18:49,119 --> 00:18:52,880 Speaker 1: just extraordinary the French team and a special shout out 350 00:18:52,880 --> 00:18:57,640 Speaker 1: to Nicole from Loreal who listened to the weekend edition 351 00:18:58,320 --> 00:19:01,280 Speaker 1: and confronted Adam at the fact that he had slept 352 00:19:01,320 --> 00:19:03,560 Speaker 1: in that very morning and had missed the start of 353 00:19:03,600 --> 00:19:06,199 Speaker 1: the show. And I just loved seeing Adam put on 354 00:19:06,240 --> 00:19:09,280 Speaker 1: the put on this. I'm sorry, I didn't mean Tom. 355 00:19:09,400 --> 00:19:11,280 Speaker 1: This is even better than us, you and I doing 356 00:19:11,280 --> 00:19:12,240 Speaker 1: this in the show Sewan. 357 00:19:12,320 --> 00:19:15,280 Speaker 2: Someone had to issue a personal apology. 358 00:19:15,760 --> 00:19:18,600 Speaker 3: It was Corporate Largest lgp U two last Saurday. 359 00:19:18,560 --> 00:19:23,320 Speaker 2: Yes, yes, living it up yes and like Largest barely 360 00:19:23,440 --> 00:19:28,600 Speaker 2: covers it. Sean right, it was insane and anyone who 361 00:19:28,640 --> 00:19:31,240 Speaker 2: hasn't seen it, it's incredible. What a race. 362 00:19:32,359 --> 00:19:36,680 Speaker 3: We're part French now and yesterday Michael and I were 363 00:19:36,720 --> 00:19:40,359 Speaker 3: guests of Air Wallax in Melbourne for the practice rounds 364 00:19:40,640 --> 00:19:43,639 Speaker 3: the GP. What's the common factor there? Michael and Adam 365 00:19:43,720 --> 00:19:47,160 Speaker 3: Largest last week, Michael and Shawan this week. It's not you, Adam, 366 00:19:47,440 --> 00:19:49,919 Speaker 3: it's not me, and it's not you. Sure man of 367 00:19:49,960 --> 00:19:53,159 Speaker 3: the people, A man of the people, you know. 368 00:19:53,720 --> 00:19:58,280 Speaker 1: Company companies have just realized that that having the common 369 00:19:58,359 --> 00:20:01,600 Speaker 1: touch as part of their corporate box actually is a 370 00:20:01,600 --> 00:20:02,040 Speaker 1: good thing. 371 00:20:05,680 --> 00:20:10,919 Speaker 3: Okay, category, I'll tell you what they are, bread and 372 00:20:10,960 --> 00:20:16,240 Speaker 3: butter stories that Adam would love, Bracket. Most of the 373 00:20:16,240 --> 00:20:18,000 Speaker 3: rest of us don't care too much, close bradit. 374 00:20:18,160 --> 00:20:20,280 Speaker 1: So this is going to be very short, all right, 375 00:20:21,080 --> 00:20:22,000 Speaker 1: you go first, Sean. 376 00:20:23,080 --> 00:20:26,080 Speaker 3: House prices flat lining in Sydney and Melbourne. Actually we 377 00:20:26,119 --> 00:20:30,879 Speaker 3: all care about this one. Perth just keeps surging ahead. Adelaide, 378 00:20:30,880 --> 00:20:34,200 Speaker 3: Brisbane somewhere in between. We have the February month data 379 00:20:34,320 --> 00:20:37,040 Speaker 3: from Totality and a medium value of a home in Sydney. 380 00:20:37,160 --> 00:20:39,320 Speaker 3: Sydney is now one point three million, it's one point 381 00:20:39,320 --> 00:20:41,919 Speaker 3: one million in Brisbane. Perth is almost a million bucks. 382 00:20:42,200 --> 00:20:48,120 Speaker 3: Quite phenomenal than Adelaide camera Melbourne's relatively cheap, but prices 383 00:20:48,280 --> 00:20:51,040 Speaker 3: still flat lining in Melbourne certainly has been the one 384 00:20:51,040 --> 00:20:54,600 Speaker 3: of the worst of the capital city markets in recent times. 385 00:20:54,960 --> 00:20:59,280 Speaker 3: Regionals broadly are better than capital cities in terms of 386 00:20:59,359 --> 00:21:04,760 Speaker 3: capital growth, which is interesting. But it's just the seasons 387 00:21:04,760 --> 00:21:08,040 Speaker 3: started pretty well. The auction season started pretty well, but 388 00:21:08,640 --> 00:21:10,920 Speaker 3: that hate, you know, you start talking about higher interest 389 00:21:11,000 --> 00:21:15,520 Speaker 3: rates in gosh, the buy move away amazing, fascinating stuff, 390 00:21:15,720 --> 00:21:18,359 Speaker 3: really good fun. Love to talk more about it, but 391 00:21:19,040 --> 00:21:19,920 Speaker 3: I'm not going to. 392 00:21:20,680 --> 00:21:24,919 Speaker 1: Out of time. Politics. Politics will be good. Yeah, I 393 00:21:24,960 --> 00:21:26,960 Speaker 1: know that this is a bread and butter story that 394 00:21:27,000 --> 00:21:29,760 Speaker 1: you would love. Politics. Parliament back this week and a 395 00:21:30,000 --> 00:21:32,600 Speaker 1: kind of a proper opposition kind of thing, and that 396 00:21:32,600 --> 00:21:36,680 Speaker 1: they're not fighting amongst themselves, which is quite novel. At 397 00:21:36,680 --> 00:21:38,680 Speaker 1: a news poll at the start of the week that 398 00:21:39,280 --> 00:21:42,200 Speaker 1: suggested that those changes, Angus Taylor being elevated to the 399 00:21:42,280 --> 00:21:44,119 Speaker 1: leadership of the Liberal Party has kind of stemmed the 400 00:21:44,160 --> 00:21:47,440 Speaker 1: bleeding there for the party and that maybe one nation 401 00:21:47,560 --> 00:21:51,560 Speaker 1: is now plataued and that Anthony Albanezi's popularity is preferred 402 00:21:51,600 --> 00:21:55,040 Speaker 1: Prime Minister has dropped a bit. A few regrettable moments 403 00:21:55,119 --> 00:21:57,639 Speaker 1: throughout the week. I think I mentioned this one where 404 00:21:57,920 --> 00:22:00,719 Speaker 1: Tim Wilson, the Shadow Treasurer, decided to sing a bit 405 00:22:00,760 --> 00:22:04,640 Speaker 1: of Billy Joel in the in Parliament, which was just yeah, 406 00:22:04,680 --> 00:22:08,200 Speaker 1: don't know, don't know why, and would highly highly advise 407 00:22:08,240 --> 00:22:11,000 Speaker 1: against doing that again at any point. And Mark Carney, 408 00:22:11,000 --> 00:22:14,119 Speaker 1: the Canadian PM in town and agreed to close the 409 00:22:14,200 --> 00:22:17,000 Speaker 1: ties between our two great nations. 410 00:22:18,359 --> 00:22:18,960 Speaker 2: Fair enough. 411 00:22:19,680 --> 00:22:24,040 Speaker 1: That's it hard stop well there these are just stories 412 00:22:24,080 --> 00:22:24,919 Speaker 1: for you, Adam. 413 00:22:24,760 --> 00:22:27,200 Speaker 4: Like, that's just stop listening. 414 00:22:27,240 --> 00:22:28,920 Speaker 1: There's no melodrava, no flourish. 415 00:22:29,800 --> 00:22:34,360 Speaker 2: I want wanted more. So, Mark Carney really improved your story, Michael. 416 00:22:34,480 --> 00:22:39,520 Speaker 4: Hold on, not enough, Mark, not enough? Right, good, Sean wins. 417 00:22:39,560 --> 00:22:43,840 Speaker 3: I'll shut up then, going on, let's move on to 418 00:22:43,880 --> 00:22:44,440 Speaker 3: the next topic. 419 00:22:44,640 --> 00:22:45,320 Speaker 4: I'll go first. 420 00:22:45,600 --> 00:22:50,280 Speaker 3: Favorite story mine is Mark Carney. When you started talking, then, 421 00:22:50,280 --> 00:22:55,000 Speaker 3: Michael I thought to himself, he's going to the story. 422 00:22:55,320 --> 00:22:58,639 Speaker 1: I wouldn't do that to you, do you not? I 423 00:22:58,680 --> 00:23:00,800 Speaker 1: mean absolutely I would. If I realize that's what she 424 00:23:00,840 --> 00:23:03,600 Speaker 1: wanted to talk about, I would have dwelt more on 425 00:23:06,080 --> 00:23:08,280 Speaker 1: Mark Carney. But he realized that you wanted to talk 426 00:23:08,280 --> 00:23:10,120 Speaker 1: about it, so damn it, I left it for you. 427 00:23:10,280 --> 00:23:14,240 Speaker 3: He is the bureaucrats superhero. He's making middle aged men 428 00:23:14,440 --> 00:23:17,399 Speaker 3: look stylish and sexy. And he followed at Trudeau, so 429 00:23:17,480 --> 00:23:21,120 Speaker 3: to actually follow a Trudeau and look stylish and sexy. 430 00:23:21,359 --> 00:23:24,640 Speaker 3: That is quite the achievement. Why is that because he's 431 00:23:24,680 --> 00:23:27,320 Speaker 3: talking about a new world order. He's talking about we 432 00:23:27,520 --> 00:23:31,240 Speaker 3: middle powers, think of us in India and Canada, Korea, 433 00:23:31,359 --> 00:23:36,360 Speaker 3: some of these countries actually not toadying up to superpowers 434 00:23:36,400 --> 00:23:41,080 Speaker 3: like the US, Russia, China, but using our influence to 435 00:23:41,200 --> 00:23:44,760 Speaker 3: shift the world in an direction we want to shift 436 00:23:44,800 --> 00:23:48,480 Speaker 3: it in. Now. He is undoubtedly the pin up person 437 00:23:49,480 --> 00:23:51,959 Speaker 3: of global leaders at the moment. 438 00:23:53,080 --> 00:23:53,359 Speaker 4: Adam. 439 00:23:53,400 --> 00:23:55,480 Speaker 3: I wouldn't be surprised if he's got a little fraido 440 00:23:55,600 --> 00:23:59,960 Speaker 3: of him in his well or something like that. Mark Carney, 441 00:24:00,600 --> 00:24:05,400 Speaker 3: good economists man. He was in town pushing that agenda back. 442 00:24:06,200 --> 00:24:09,879 Speaker 3: He's actually he has really become the leader of the 443 00:24:09,880 --> 00:24:13,800 Speaker 3: middle class world. He talked about Australia and Canada rather 444 00:24:13,800 --> 00:24:19,160 Speaker 3: than competing in stuff like defense and minerals and other resources, 445 00:24:19,440 --> 00:24:23,160 Speaker 3: actually working together. And it does make sense because together 446 00:24:23,720 --> 00:24:26,359 Speaker 3: we are much more powerful as sellers than if we 447 00:24:26,400 --> 00:24:27,320 Speaker 3: do it individually. 448 00:24:27,760 --> 00:24:28,320 Speaker 2: Yeah. 449 00:24:28,400 --> 00:24:32,080 Speaker 3: And the fact that the new World orders has arrived, 450 00:24:32,119 --> 00:24:34,040 Speaker 3: I mean, he talked about that in Darwist in January. 451 00:24:34,040 --> 00:24:35,600 Speaker 3: He's kind of said much of the same stuff this 452 00:24:35,680 --> 00:24:39,520 Speaker 3: time around. I just think having Mark Carney having a 453 00:24:39,520 --> 00:24:41,400 Speaker 3: politician that's interesting in the country. 454 00:24:42,480 --> 00:24:43,879 Speaker 4: That's why it's my favorite story. 455 00:24:46,560 --> 00:24:49,480 Speaker 1: That's a good one. Unfortunately, I'd already I'd already talked 456 00:24:49,480 --> 00:24:53,840 Speaker 1: about Mark Carney, so you can't do it again. So 457 00:24:53,960 --> 00:24:58,840 Speaker 1: that's a qualification favorite story for me, Adam. We've talked 458 00:24:58,840 --> 00:25:03,160 Speaker 1: a bit in the past about the economic impacts of 459 00:25:03,359 --> 00:25:07,400 Speaker 1: weight loss drugs, right, golp one drugs like the zmpic, 460 00:25:07,440 --> 00:25:09,639 Speaker 1: we go V, all of those ones, and the impact 461 00:25:09,680 --> 00:25:11,800 Speaker 1: that they're having on companies that are finding that they're 462 00:25:11,840 --> 00:25:15,760 Speaker 1: selling less into smaller kind of portion sizes for food 463 00:25:16,640 --> 00:25:21,920 Speaker 1: and just then the flow and then like lighter loads 464 00:25:22,000 --> 00:25:24,840 Speaker 1: on aircraft, like all of these kinds of things, right, 465 00:25:25,560 --> 00:25:29,159 Speaker 1: But the health benefits we are still hearing now about 466 00:25:29,240 --> 00:25:32,359 Speaker 1: more potential health benefits, and this one this week. I 467 00:25:32,440 --> 00:25:36,200 Speaker 1: just think this is incredible that there is the potential 468 00:25:36,240 --> 00:25:38,320 Speaker 1: for zepic and we go V and those other drugs 469 00:25:38,359 --> 00:25:41,400 Speaker 1: like that to help heart attack victims. But this isn't 470 00:25:41,440 --> 00:25:43,280 Speaker 1: like a long term kind of thing. This is an 471 00:25:43,320 --> 00:25:47,640 Speaker 1: immediate thing because I've learned a lot reading about this 472 00:25:47,640 --> 00:25:50,800 Speaker 1: this week about when a heart attack victim suffers that 473 00:25:50,920 --> 00:25:53,520 Speaker 1: heart attack and ensure that they might be treated by 474 00:25:53,560 --> 00:25:56,360 Speaker 1: paramedics and treated in hospital. But some of the damage 475 00:25:56,359 --> 00:25:58,879 Speaker 1: it's called kind of no reflow. It's called where the 476 00:25:58,960 --> 00:26:02,720 Speaker 1: damage done to the heart prevents essentially blood flowing back 477 00:26:02,800 --> 00:26:06,000 Speaker 1: into different parts of the heart. And then people that 478 00:26:06,040 --> 00:26:09,040 Speaker 1: suffer from that, and there's a lot of them, be 479 00:26:09,080 --> 00:26:12,280 Speaker 1: like half of heart attack patients can suffer from that 480 00:26:12,280 --> 00:26:13,600 Speaker 1: that a lot of them then end up back in 481 00:26:13,640 --> 00:26:16,879 Speaker 1: hospital and it can end up being fatal. And they've 482 00:26:17,000 --> 00:26:19,680 Speaker 1: figured out that the GLP one drugs could actually help 483 00:26:19,760 --> 00:26:22,159 Speaker 1: prevent that, and this is a UK study, and that 484 00:26:22,280 --> 00:26:26,040 Speaker 1: paramedics might actually be the ones that end up administering 485 00:26:26,080 --> 00:26:29,520 Speaker 1: it on the way to hospital, right. And so it's 486 00:26:29,600 --> 00:26:33,399 Speaker 1: reminiscent of MEMB when Kerry Packer had his heart attack 487 00:26:33,520 --> 00:26:37,560 Speaker 1: and then funder the defibrillators the Packer whackers kind of 488 00:26:37,560 --> 00:26:41,080 Speaker 1: in all the ambulances, right, And it feels like that 489 00:26:41,119 --> 00:26:45,080 Speaker 1: it's kind of realizing the benefits and what can be 490 00:26:45,119 --> 00:26:47,679 Speaker 1: done with that really really early intervention, and we're just 491 00:26:47,720 --> 00:26:52,400 Speaker 1: finding out that these revolutionary drugs can have these additional 492 00:26:52,480 --> 00:26:56,720 Speaker 1: effects that no one really contemplated as the first effect. 493 00:26:57,040 --> 00:26:58,720 Speaker 1: Now we're learning about what it can do, and I 494 00:26:58,760 --> 00:26:59,400 Speaker 1: just think that's. 495 00:26:59,240 --> 00:26:59,960 Speaker 4: Really, really cool. 496 00:27:00,080 --> 00:27:00,920 Speaker 3: But are they safe? 497 00:27:01,040 --> 00:27:01,359 Speaker 1: Michael? 498 00:27:01,400 --> 00:27:03,040 Speaker 4: Are they safe? Yes? 499 00:27:03,119 --> 00:27:06,240 Speaker 1: Well, fortunately, I don't need to decide that. There are 500 00:27:06,400 --> 00:27:09,199 Speaker 1: government bodies and a lot of people out there studying it, 501 00:27:09,240 --> 00:27:10,840 Speaker 1: and I will leave that up to them. I'm just 502 00:27:10,880 --> 00:27:12,480 Speaker 1: going to tell you about it and make it sound 503 00:27:12,840 --> 00:27:14,240 Speaker 1: more melodramatic than it is. 504 00:27:14,400 --> 00:27:16,080 Speaker 4: Actually on the Melo drama. You are excellent. 505 00:27:16,320 --> 00:27:20,960 Speaker 1: Oh yeah, yeah, was it enough though, Adam. 506 00:27:21,520 --> 00:27:28,080 Speaker 2: Hm Titanic Battle? Yeah, Michael, you win on this one. 507 00:27:28,920 --> 00:27:32,639 Speaker 2: The health impacts and internationally and obviously economic impacts of 508 00:27:32,800 --> 00:27:37,879 Speaker 2: better health are incredible. But it's the narrowest of margins. 509 00:27:38,119 --> 00:27:39,920 Speaker 3: So you don't like Mark Carney. You don't like the 510 00:27:39,960 --> 00:27:41,160 Speaker 3: whole film thing that he's doing. 511 00:27:41,359 --> 00:27:43,720 Speaker 1: And he hates central banks, central. 512 00:27:43,440 --> 00:27:45,040 Speaker 4: Banks, the out reform. 513 00:27:45,640 --> 00:27:47,280 Speaker 3: There's a real pattern emerging, isn't there. 514 00:27:47,280 --> 00:27:51,880 Speaker 1: It is actually quite across. Is quite anti Canadian too, 515 00:27:52,040 --> 00:27:53,240 Speaker 1: which just generally done. 516 00:27:53,359 --> 00:27:55,040 Speaker 4: Yeah, I mean, let's not bring race into it. But 517 00:27:55,080 --> 00:27:56,320 Speaker 4: he hates Canadians. 518 00:27:56,480 --> 00:28:00,600 Speaker 1: No, it's just a nationality like That's I find that 519 00:28:00,800 --> 00:28:07,240 Speaker 1: a bizarre, completely fine miss judgment by the way, Adam. 520 00:28:07,160 --> 00:28:10,800 Speaker 2: So sean though, can I have you absolutely have to 521 00:28:10,800 --> 00:28:13,720 Speaker 2: give special points for a couple of points. Mark Carney 522 00:28:13,720 --> 00:28:17,679 Speaker 2: international rock star. Your words assembling the middle powers of 523 00:28:17,720 --> 00:28:22,639 Speaker 2: the world, like channeling for you, melodramatically wonderful. And the 524 00:28:22,680 --> 00:28:26,879 Speaker 2: phrase toadying up as in Mark Carney encouraging, is not 525 00:28:27,080 --> 00:28:29,600 Speaker 2: toadying up to Trump? Brilliant? 526 00:28:30,359 --> 00:28:35,200 Speaker 3: Yeah, he ain't no plumber, is he? 527 00:28:33,880 --> 00:28:35,720 Speaker 2: He ain't? 528 00:28:35,880 --> 00:28:38,080 Speaker 1: No? I agree with he like? 529 00:28:38,680 --> 00:28:40,520 Speaker 2: Is that like TLC ain't no scrubs. 530 00:28:41,680 --> 00:28:42,920 Speaker 1: No, it's not at all that. 531 00:28:44,880 --> 00:28:46,960 Speaker 4: I mean, Okay, give us the scores. 532 00:28:47,120 --> 00:28:51,440 Speaker 2: So to all, Michael, well done, ninety one points. 533 00:28:51,720 --> 00:28:54,000 Speaker 1: It's never a good time and he starts sewn Almer 534 00:28:55,000 --> 00:28:56,320 Speaker 1: ninety two points. 535 00:29:00,120 --> 00:29:07,480 Speaker 3: Ah ah ah. 536 00:29:04,960 --> 00:29:07,920 Speaker 1: Adam, I am disappointed. 537 00:29:08,760 --> 00:29:11,600 Speaker 2: But how deep does the loathing go right now? 538 00:29:11,800 --> 00:29:14,560 Speaker 1: Michael, Oh, you know it's it's it's skin deep. No, 539 00:29:14,640 --> 00:29:16,920 Speaker 1: it's it's very shadow. I'm fine. I'm fine. I will 540 00:29:16,960 --> 00:29:19,160 Speaker 1: move on and I will come back. I'll bounce back 541 00:29:19,240 --> 00:29:22,880 Speaker 1: stronger from this and have another crack next week. Thank 542 00:29:22,920 --> 00:29:25,920 Speaker 1: you very much, Adam, Thank you, Michael, Thank you, Sean. 543 00:29:26,480 --> 00:29:28,480 Speaker 3: Thank you, Michael, thank you Adam. 544 00:29:28,640 --> 00:29:32,160 Speaker 1: Congratulations Sean. Make sure you're listening following well, obviously you're 545 00:29:32,160 --> 00:29:35,160 Speaker 1: already listening. Follow the podcast. That's important. Head to Fear 546 00:29:35,200 --> 00:29:37,200 Speaker 1: and Greed dot com dot au to sign up for 547 00:29:37,240 --> 00:29:39,960 Speaker 1: our free daily newsletter. I'm Michael Thompson, and that was 548 00:29:40,000 --> 00:29:40,640 Speaker 1: fear and greed. 549 00:29:40,840 --> 00:29:41,680 Speaker 2: Have a great weekend.