1 00:00:06,280 --> 00:00:09,360 Speaker 1: This is the weekend edition of Fear and Greed business News. 2 00:00:09,400 --> 00:00:12,800 Speaker 1: You can use are Michael Thompson and Good morning, Sean Alma, 3 00:00:12,920 --> 00:00:16,560 Speaker 1: Good morning, Michael, Sean. Our weekend show is all about 4 00:00:16,560 --> 00:00:19,000 Speaker 1: the two of us each nominating. Look, I'm actually stretching 5 00:00:19,120 --> 00:00:21,439 Speaker 1: as I'm saying this. I'm limbering up because this is 6 00:00:21,480 --> 00:00:24,480 Speaker 1: a debate. This is a vigorous argument. Today. We are 7 00:00:24,520 --> 00:00:26,920 Speaker 1: each nominating what we think is the biggest business story 8 00:00:26,920 --> 00:00:30,200 Speaker 1: of the week, the most remarkable business story, a mystery 9 00:00:30,200 --> 00:00:34,320 Speaker 1: category that changes each week, and our favorite business related story. 10 00:00:34,360 --> 00:00:36,479 Speaker 1: We need a judge to pick a winner that judges 11 00:00:36,520 --> 00:00:39,600 Speaker 1: our Fear and Greed. Colleague, Adam Lang Adam, good morning. 12 00:00:39,600 --> 00:00:41,640 Speaker 2: Good morning, Michael, Good morning, Sean. 13 00:00:42,280 --> 00:00:43,960 Speaker 3: Morning Adam. Can I start with a gripe? 14 00:00:44,159 --> 00:00:44,680 Speaker 1: Is it all right? 15 00:00:44,800 --> 00:00:45,440 Speaker 3: Get things off? 16 00:00:45,479 --> 00:00:45,760 Speaker 1: Please? 17 00:00:45,800 --> 00:00:50,159 Speaker 3: Do positive note? Nothing to do with you. Why is 18 00:00:50,200 --> 00:00:54,800 Speaker 3: it that whatever studio we're in, where they're in Sydney, 19 00:00:54,840 --> 00:00:57,880 Speaker 3: in our neighbous studios, where they we're in home studios, 20 00:00:58,680 --> 00:01:01,720 Speaker 3: we kick the show off, Michael hits the record button 21 00:01:02,720 --> 00:01:05,400 Speaker 3: and then there's always a pause. He shifts his desk up, 22 00:01:06,080 --> 00:01:10,040 Speaker 3: he closes the window or something. He never ever is 23 00:01:10,160 --> 00:01:14,600 Speaker 3: one hundred percent ready to go when he presses record. 24 00:01:14,680 --> 00:01:16,520 Speaker 3: Have you ever noticed it, Adam, Michael will be quite 25 00:01:16,560 --> 00:01:19,080 Speaker 3: from Have you noticed that? I have? 26 00:01:19,240 --> 00:01:21,400 Speaker 2: I think it's part of Michael's warm up routine, like 27 00:01:21,720 --> 00:01:23,959 Speaker 2: you know, like gout gout getting on the blocks. 28 00:01:24,400 --> 00:01:27,000 Speaker 1: It does a little stretch, little readiness. 29 00:01:26,520 --> 00:01:28,680 Speaker 3: And a gougout was last week and goug out one 30 00:01:28,840 --> 00:01:30,440 Speaker 3: I e. Michael won. So we're not going to talk 31 00:01:30,440 --> 00:01:33,399 Speaker 3: about gogaut this week. But what is it about it? Michael? 32 00:01:33,560 --> 00:01:35,760 Speaker 3: Why can't you just be ready to go when you 33 00:01:35,840 --> 00:01:38,560 Speaker 3: press go rather than actually have to shift the desk, 34 00:01:38,720 --> 00:01:40,000 Speaker 3: which everybody happens. 35 00:01:41,319 --> 00:01:44,480 Speaker 1: If I have to, okay, number one, finally tuned athletes, 36 00:01:44,520 --> 00:01:46,479 Speaker 1: I need to make sure I go through my routine. 37 00:01:47,200 --> 00:01:53,120 Speaker 1: And also number one also, as we're about to kick off, 38 00:01:53,160 --> 00:01:55,720 Speaker 1: just then I noticed that my desk was not quite 39 00:01:55,720 --> 00:01:57,880 Speaker 1: in the right position, and that the way I was 40 00:01:57,960 --> 00:02:00,480 Speaker 1: because we are recording this one from our homes videos, 41 00:02:01,000 --> 00:02:02,800 Speaker 1: that the way I was looking at the camera meant 42 00:02:02,840 --> 00:02:03,680 Speaker 1: I had a double chin. 43 00:02:05,520 --> 00:02:09,680 Speaker 3: Conditions are ideal when when we're in our studio, you 44 00:02:09,720 --> 00:02:12,440 Speaker 3: press record and then you turn to the right and 45 00:02:12,520 --> 00:02:15,160 Speaker 3: check all the screens on your right hand side, and 46 00:02:15,200 --> 00:02:19,520 Speaker 3: then come back and start talking and anyway, gripe favor, 47 00:02:19,680 --> 00:02:20,520 Speaker 3: let's go on with the show. 48 00:02:20,800 --> 00:02:22,320 Speaker 2: He's got your mind off the game. 49 00:02:23,120 --> 00:02:27,079 Speaker 1: You know what I can't Actually I was about to say, 50 00:02:27,320 --> 00:02:32,200 Speaker 1: I can't be put off, clearly I can. I have Adam, 51 00:02:32,200 --> 00:02:34,079 Speaker 1: what are you looking? What are you looking for today? 52 00:02:34,400 --> 00:02:34,640 Speaker 3: Yeah? 53 00:02:34,720 --> 00:02:39,160 Speaker 2: Okay, so topicality, timeliness, economic impact, of course, a little 54 00:02:39,160 --> 00:02:42,880 Speaker 2: playing to my subjective bias, and some melodrama. 55 00:02:44,080 --> 00:02:48,639 Speaker 1: How about brevity? Does brevity count? Yes? It does good 56 00:02:48,680 --> 00:02:50,720 Speaker 1: Because I Reckon Today is going to be our one 57 00:02:50,720 --> 00:02:56,680 Speaker 1: of our more efficient shows apart from the start obviously before. Yeah, 58 00:02:56,680 --> 00:02:58,600 Speaker 1: but this is this is actually going to be it. 59 00:02:58,680 --> 00:02:58,959 Speaker 3: I Reckon. 60 00:02:58,960 --> 00:03:00,720 Speaker 1: It's going to be like a again a minute per 61 00:03:00,800 --> 00:03:04,160 Speaker 1: person per entry. Here we go go to this Sean 62 00:03:04,520 --> 00:03:06,960 Speaker 1: after you go for it. What's the biggest story this week? 63 00:03:07,120 --> 00:03:09,360 Speaker 3: I like about three minutes for this one because it's important. 64 00:03:11,919 --> 00:03:14,280 Speaker 3: Biggest story that work, without a doubt, the economy. What 65 00:03:14,400 --> 00:03:18,240 Speaker 3: really matters to everyone at home, Adam, interest rates, whether 66 00:03:18,240 --> 00:03:20,720 Speaker 3: they've got a job, how the economy is growing. And 67 00:03:20,760 --> 00:03:23,080 Speaker 3: this week we've heard from the Reserve Bank Governor Michelle Bullock, 68 00:03:23,520 --> 00:03:26,840 Speaker 3: and we've got inflation data. Michelle Bullock first, she appeared 69 00:03:26,880 --> 00:03:30,000 Speaker 3: before a parliamentary committee and her basic message is that 70 00:03:30,120 --> 00:03:33,040 Speaker 3: the local economies recovering pretty well at the moment, supported 71 00:03:33,040 --> 00:03:37,400 Speaker 3: by interest rate cuts, but globill economic uncertainty could spoil 72 00:03:37,480 --> 00:03:40,200 Speaker 3: the party. Inflation out looks good. More on that shortly, 73 00:03:40,840 --> 00:03:42,680 Speaker 3: price changes are likely to set in the middle of 74 00:03:42,680 --> 00:03:44,680 Speaker 3: the Central Bank's target range of two to three percent. 75 00:03:44,760 --> 00:03:48,440 Speaker 3: Recent rate cuts can be seen already impacting the housing 76 00:03:48,480 --> 00:03:50,960 Speaker 3: market and consumption. The economy is close to full employment, 77 00:03:51,000 --> 00:03:53,680 Speaker 3: one of the Reserve Bank's goals productivity grows. Still a 78 00:03:53,680 --> 00:03:56,600 Speaker 3: problem hasn't picked up. Part of that's because so many 79 00:03:56,680 --> 00:03:59,920 Speaker 3: jobs are going in the non market sector, the bureaucracy 80 00:04:00,920 --> 00:04:04,360 Speaker 3: some pressure on labor costs. She also pointedly said there 81 00:04:04,440 --> 00:04:08,240 Speaker 3: isn't a great deal of risk priced into equities, i e. 82 00:04:08,400 --> 00:04:12,200 Speaker 3: Read between the lines there, perhaps shares are running too hard. 83 00:04:12,480 --> 00:04:15,200 Speaker 3: Then we had the inflation data headline inflation three percent 84 00:04:15,480 --> 00:04:21,080 Speaker 3: all important underlying two point six percent, slightly lower than Joe. Joe, 85 00:04:21,320 --> 00:04:23,400 Speaker 3: who's Joe? Don't know the month of July is what 86 00:04:23,440 --> 00:04:26,920 Speaker 3: I meant to say, slightly lower than July over the 87 00:04:27,000 --> 00:04:28,840 Speaker 3: last twelve months out of a test for you might 88 00:04:28,839 --> 00:04:32,800 Speaker 3: have been listening the largest growth in prices was in electricity, 89 00:04:32,800 --> 00:04:35,200 Speaker 3: but that's on the back of the rebates falling off, 90 00:04:35,360 --> 00:04:40,159 Speaker 3: some state and federal rebates falling off. What else jumped 91 00:04:40,160 --> 00:04:44,560 Speaker 3: in prices? Eggs, yes, birdflood related well done? And coffee, 92 00:04:44,560 --> 00:04:46,480 Speaker 3: tea and coco. You know we've done on the show. 93 00:04:46,520 --> 00:04:51,960 Speaker 3: Cocoa prices going up, tobacco government regulation. What about where 94 00:04:52,080 --> 00:04:58,480 Speaker 3: prices have fallen? Small household appliances? So revel International holiday travel. 95 00:04:58,640 --> 00:05:01,520 Speaker 2: I do love this one for the three of us. 96 00:05:01,960 --> 00:05:10,240 Speaker 3: Yes, books, Michael, Oh, that's right. International? Now books is 97 00:05:10,279 --> 00:05:14,279 Speaker 3: Michael International holiday travel? I'm claiming that one, but sure 98 00:05:14,320 --> 00:05:17,159 Speaker 3: the other one. The other one I'm giving to Adam. 99 00:05:17,200 --> 00:05:20,520 Speaker 3: It's garments. 100 00:05:22,240 --> 00:05:22,480 Speaker 1: I had. 101 00:05:24,160 --> 00:05:28,200 Speaker 3: No one is better dressed of we three than Adam Lane. 102 00:05:28,240 --> 00:05:31,400 Speaker 1: Except we should talk about the hoodie. Yeah, the green, 103 00:05:31,880 --> 00:05:37,560 Speaker 1: the green hoodie at the Yeah, lovely. I really like it. 104 00:05:37,640 --> 00:05:39,160 Speaker 1: But it is not like you. 105 00:05:39,160 --> 00:05:40,680 Speaker 3: No, it's not you weren't judged. 106 00:05:40,680 --> 00:05:43,960 Speaker 1: We might not say that, but considering you've turned up 107 00:05:44,000 --> 00:05:48,800 Speaker 1: to multiple weekend editions wearing suits and time to go, 108 00:05:48,880 --> 00:05:52,880 Speaker 1: then suddenly to a like a Kermit green hoodie, it's 109 00:05:52,920 --> 00:05:56,320 Speaker 1: about as different as you can get. Cash. I like this, 110 00:05:56,400 --> 00:05:58,640 Speaker 1: Adam are you done, Sean. 111 00:05:58,720 --> 00:06:00,280 Speaker 3: Yes, Miss Piggy, let's go. 112 00:06:05,480 --> 00:06:14,560 Speaker 1: What jeez, Adam Adam. Yeah. What a momentous week for 113 00:06:14,680 --> 00:06:19,960 Speaker 1: Australia on the world stage. Right, Anthony Albanezi, our Prime minister, 114 00:06:20,080 --> 00:06:23,880 Speaker 1: finally got his Trump moment in New York. For days, 115 00:06:24,320 --> 00:06:26,800 Speaker 1: it wasn't even clear if Donald Trump would even talk 116 00:06:26,880 --> 00:06:30,200 Speaker 1: to him. Then there was a handshake, there was a 117 00:06:30,200 --> 00:06:33,039 Speaker 1: photo opportunity wasn't so much a photo opportunity as just 118 00:06:33,960 --> 00:06:38,000 Speaker 1: Albo basically forcing the President to have a selfie with him. 119 00:06:38,520 --> 00:06:41,279 Speaker 1: And then there was the promise, though importantly the promise 120 00:06:41,360 --> 00:06:43,760 Speaker 1: of a White House meeting next month. All right, And 121 00:06:43,800 --> 00:06:48,000 Speaker 1: so that was the theater alongside Albo's trip to New 122 00:06:48,040 --> 00:06:50,000 Speaker 1: York and the big kind of will they won't they meet, 123 00:06:50,040 --> 00:06:52,800 Speaker 1: all that kind of thing. But it was actually a 124 00:06:52,880 --> 00:06:58,920 Speaker 1: vitally important visit to New York because while he was there, 125 00:06:59,080 --> 00:07:03,640 Speaker 1: Anthony Albanizi made his debut United Nations speech. He pitched 126 00:07:03,640 --> 00:07:07,680 Speaker 1: Australia for a Security Council seat. He hammered climate changes 127 00:07:07,960 --> 00:07:11,160 Speaker 1: really as an existential threat, something that has actually go 128 00:07:11,240 --> 00:07:14,600 Speaker 1: into effect, not just Australia but people and countries within 129 00:07:14,640 --> 00:07:16,760 Speaker 1: our regient. So it was representing a whole bunch of 130 00:07:16,880 --> 00:07:21,600 Speaker 1: smaller countries from the Pacific as well. He called out 131 00:07:21,600 --> 00:07:24,800 Speaker 1: Iran for the fire bombings that have happened here Astralian 132 00:07:25,360 --> 00:07:27,840 Speaker 1: on Australian soil, all of this in front of the 133 00:07:27,960 --> 00:07:32,160 Speaker 1: leaders of the world, and then impossibly the most Australian 134 00:07:32,200 --> 00:07:34,920 Speaker 1: flourish of all, he went to Hamish and Andy's Pub 135 00:07:35,200 --> 00:07:38,160 Speaker 1: in Manhattan and poor beers for the crowd. It doesn't 136 00:07:38,200 --> 00:07:41,560 Speaker 1: get bigger if you kind of exclude the beer part, right, 137 00:07:41,600 --> 00:07:46,240 Speaker 1: It doesn't get bigger than that for Australia on the 138 00:07:46,280 --> 00:07:50,000 Speaker 1: world stage this week, especially when you consider that the 139 00:07:50,000 --> 00:07:54,960 Speaker 1: week actually began with Australia officially recognizing a Palestinian state 140 00:07:55,320 --> 00:07:58,320 Speaker 1: at the UN. You put it all together, which is 141 00:07:58,400 --> 00:08:00,960 Speaker 1: essential in this kind of scenario. You put it all together, 142 00:08:01,440 --> 00:08:04,560 Speaker 1: you assess it all as one whole, and it is 143 00:08:04,600 --> 00:08:08,600 Speaker 1: the biggest story of the week because this was our 144 00:08:08,760 --> 00:08:14,040 Speaker 1: leader pushing an Australian agenda on the world stage that 145 00:08:14,160 --> 00:08:17,240 Speaker 1: doesn't necessarily line up with the US, certainly doesn't line 146 00:08:17,280 --> 00:08:19,560 Speaker 1: up with the US. Our strongest ally still went in there, 147 00:08:19,600 --> 00:08:24,240 Speaker 1: did it, still demanded time with the President. God is selfie, 148 00:08:24,320 --> 00:08:27,000 Speaker 1: God is handshake, got a meeting at the White House 149 00:08:27,040 --> 00:08:30,640 Speaker 1: next month. Massive week, massive story. 150 00:08:31,160 --> 00:08:32,880 Speaker 3: That's going to make a big difference to my life, 151 00:08:32,920 --> 00:08:33,320 Speaker 3: that one. 152 00:08:36,559 --> 00:08:38,839 Speaker 2: So I'm going to do something unusual in this one. 153 00:08:38,880 --> 00:08:41,839 Speaker 2: Maybe it's the hoodie, but I'm going to reward a 154 00:08:41,880 --> 00:08:45,480 Speaker 2: bonus point for Michael. When you referred to my hoodie 155 00:08:45,480 --> 00:08:48,640 Speaker 2: as Kermit Green and Sean called you miss piggy, I 156 00:08:48,640 --> 00:08:54,439 Speaker 2: thought that was an excellent whack, what a beauty, spontaneous whack. 157 00:08:54,480 --> 00:08:58,080 Speaker 3: I was just going to mention the wonderful Tim Burreys, 158 00:08:58,280 --> 00:09:02,360 Speaker 3: who would give a bonus point for that, right, Yeah, yeah, 159 00:09:02,400 --> 00:09:05,560 Speaker 3: definitely he would also detract a burness point to Michael 160 00:09:05,600 --> 00:09:07,040 Speaker 3: for having about seven stories in one. 161 00:09:07,480 --> 00:09:09,760 Speaker 1: There's one story. It was Australia this week on the 162 00:09:09,760 --> 00:09:10,319 Speaker 1: world stage. 163 00:09:10,320 --> 00:09:12,520 Speaker 3: That's what hover do you, Adam go. 164 00:09:12,520 --> 00:09:16,199 Speaker 1: On, thank you both. 165 00:09:17,679 --> 00:09:20,600 Speaker 2: I actually thought that the inflation number and the Reserve 166 00:09:20,640 --> 00:09:23,800 Speaker 2: Bank statement has been really interesting and what that does 167 00:09:23,840 --> 00:09:26,079 Speaker 2: to the whole landscape for interest rate change. 168 00:09:26,440 --> 00:09:28,559 Speaker 1: So when pocket. 169 00:09:28,320 --> 00:09:33,480 Speaker 2: Stuff this is really really important. So and look, Michael, yes, absolutely, 170 00:09:34,040 --> 00:09:36,720 Speaker 2: I think that our Prime Minister is doing a commendable 171 00:09:36,800 --> 00:09:40,080 Speaker 2: job on the world stage. And what awkward territory it is, 172 00:09:40,120 --> 00:09:45,400 Speaker 2: you know, such vitriol around the climate debate, around Palestine, 173 00:09:45,840 --> 00:09:50,400 Speaker 2: Palestinian recognition in Israel, the Security Council pitch. These are massive, 174 00:09:50,480 --> 00:09:53,680 Speaker 2: longer term things. And a visit to Hamish and his pub. 175 00:09:54,120 --> 00:09:56,800 Speaker 2: He's playing it well, but no Sean has to win 176 00:09:56,840 --> 00:09:57,240 Speaker 2: this week. 177 00:09:57,880 --> 00:10:01,560 Speaker 1: It doesn't have to well for me. I've chosen to 178 00:10:01,600 --> 00:10:02,480 Speaker 1: award show on the win. 179 00:10:02,640 --> 00:10:04,360 Speaker 3: That is such a clear cut win. I reckon I've 180 00:10:04,440 --> 00:10:06,679 Speaker 3: won by two points. 181 00:10:08,320 --> 00:10:11,720 Speaker 1: This is out righteous monthly inflation data. Who cares? Did 182 00:10:11,720 --> 00:10:14,760 Speaker 1: you watch? Did you watch this week? You know? The 183 00:10:14,800 --> 00:10:16,960 Speaker 1: team at AMP and another one of our great judges, 184 00:10:17,000 --> 00:10:19,880 Speaker 1: Diana Messina, who fills in every now and then. It 185 00:10:19,920 --> 00:10:23,840 Speaker 1: does a terrific job of doing it. They did a 186 00:10:23,840 --> 00:10:28,560 Speaker 1: little video on LinkedIn where the AMP Economics team ranked 187 00:10:28,720 --> 00:10:32,040 Speaker 1: or rated out of ten all of the different economic 188 00:10:32,120 --> 00:10:36,079 Speaker 1: indicators as in how important they were. And I think 189 00:10:36,120 --> 00:10:38,320 Speaker 1: it's not on LinkedIn, but I haven't seen it yet. 190 00:10:38,480 --> 00:10:41,200 Speaker 1: It was really good. It's definitely worth watching monthly inflation 191 00:10:41,320 --> 00:10:44,359 Speaker 1: figures two out of ten because. 192 00:10:45,280 --> 00:10:48,720 Speaker 3: Sorry, I will add to that. Diana also mentioned that 193 00:10:48,800 --> 00:10:53,960 Speaker 3: come November, when the inflation data actually expands, it's so 194 00:10:54,040 --> 00:10:56,559 Speaker 3: much broader. I don't know. She didn't say it'll go 195 00:10:56,640 --> 00:10:58,280 Speaker 3: to seven out of ten. But she certainly said it'll 196 00:10:58,280 --> 00:11:04,720 Speaker 3: become much more relevant. Half the story, Michael, Yet half 197 00:11:05,640 --> 00:11:08,600 Speaker 3: half the story, Mizpiggy. 198 00:11:08,520 --> 00:11:11,240 Speaker 1: I have never promised to give the full story. 199 00:11:11,440 --> 00:11:16,959 Speaker 3: Michael onto the most remarkable story. Now the truth comes down. 200 00:11:17,000 --> 00:11:18,200 Speaker 1: What a win for listeners. 201 00:11:18,280 --> 00:11:18,920 Speaker 3: That is. 202 00:11:20,640 --> 00:11:24,920 Speaker 1: I was just to be clear, I was joking. Just that, Okay, 203 00:11:25,679 --> 00:11:28,560 Speaker 1: the most remarkable story. This is a very brief one, 204 00:11:28,559 --> 00:11:32,640 Speaker 1: but optis right, Adam. Optus has managed what you would 205 00:11:32,679 --> 00:11:38,679 Speaker 1: consider to be the unthinkable, yet another PR disaster, even 206 00:11:38,760 --> 00:11:43,559 Speaker 1: worse than twenty twenty three's outage. In twenty twenty two's 207 00:11:43,600 --> 00:11:47,840 Speaker 1: cyber attack. This is a major, major network outage that 208 00:11:47,920 --> 00:11:50,959 Speaker 1: left six hundred people unable to reach Triple zero, linked 209 00:11:50,960 --> 00:11:54,880 Speaker 1: to four deaths, massive fallout to it, a government probe, 210 00:11:55,400 --> 00:12:00,560 Speaker 1: customers furious, independent review led by doctor Kerry Shott. Stephen 211 00:12:00,640 --> 00:12:03,840 Speaker 1: Rue says he won't resign. But the damage, the damage 212 00:12:03,880 --> 00:12:08,520 Speaker 1: here is just it is extreme, right, because this is 213 00:12:08,520 --> 00:12:10,439 Speaker 1: a telco that you've got to say is probably already 214 00:12:10,480 --> 00:12:13,560 Speaker 1: on probation with the public because it had not yet 215 00:12:13,600 --> 00:12:16,679 Speaker 1: fully recovered from its previous incidents, and then it busts 216 00:12:16,679 --> 00:12:19,640 Speaker 1: out this one, which is arguably the worst, because it 217 00:12:19,720 --> 00:12:24,120 Speaker 1: has had fatal consequences, tragic consequences. It is remarkable. It 218 00:12:24,200 --> 00:12:28,319 Speaker 1: is a household brand spiraling from embarrassment to outright danger. 219 00:12:28,640 --> 00:12:31,200 Speaker 1: It is remarkable. There you go, brief. How's that? 220 00:12:32,120 --> 00:12:38,000 Speaker 3: Yeah, a tragic story. Yeah, that's okay. That was last week, 221 00:12:38,040 --> 00:12:40,840 Speaker 3: by the way. But the most remarkable thing that happened 222 00:12:41,000 --> 00:12:43,720 Speaker 3: this week, as in the last six days, as opposed 223 00:12:43,720 --> 00:12:45,600 Speaker 3: to Michael's which happened ten days ago. 224 00:12:46,120 --> 00:12:48,640 Speaker 1: Oh no, you're not going to pull this nonsense again. 225 00:12:48,840 --> 00:12:50,959 Speaker 1: It happened towards the end of last week, but then 226 00:12:51,000 --> 00:12:53,600 Speaker 1: we only found out about it within the judging period, 227 00:12:54,080 --> 00:12:56,200 Speaker 1: and the fall that was all during the judgment. 228 00:12:56,240 --> 00:13:00,440 Speaker 3: Oh yeah, yeah, So what the hell is happening in 229 00:13:00,440 --> 00:13:03,080 Speaker 3: the retail sector, That's what I want to know, and 230 00:13:03,120 --> 00:13:06,560 Speaker 3: particularly around premier investments. In Meyer, my share price tumble 231 00:13:06,640 --> 00:13:10,040 Speaker 3: twenty five percent after it announced the thirty percent drop 232 00:13:10,080 --> 00:13:13,719 Speaker 3: in the biggest problem, all those brands they bought off 233 00:13:13,720 --> 00:13:17,120 Speaker 3: premier investments, things like Just Jean's, Portman's, Dot e j 234 00:13:17,280 --> 00:13:23,000 Speaker 3: Jason Jackie are causing them real problems. Cee Olivia Worth 235 00:13:23,200 --> 00:13:26,920 Speaker 3: said that it's a year of transition maybe, but I 236 00:13:26,920 --> 00:13:30,120 Speaker 3: think investors are wondering whether the legacy department store can 237 00:13:30,160 --> 00:13:33,120 Speaker 3: actually keep up with more nimble specialist bricks and mortar 238 00:13:33,200 --> 00:13:38,000 Speaker 3: retailers and online competitors. Temper On Webster's doing well, not Mayer. 239 00:13:38,160 --> 00:13:40,839 Speaker 3: The other thing about the result might has been hit 240 00:13:40,880 --> 00:13:44,240 Speaker 3: with the jumping, theft and violent behavior. Incidents of threatening 241 00:13:44,280 --> 00:13:49,040 Speaker 3: behavior at Rose seventy nine percent credible. A couple of 242 00:13:49,160 --> 00:13:52,920 Speaker 3: days later we get Premier Investments results. It's still own 243 00:13:52,960 --> 00:13:56,480 Speaker 3: Smiggle and Peter Alexander. The results weren't great, but the 244 00:13:56,600 --> 00:13:59,640 Speaker 3: headline came from billionaire founder Solomon lou who said it 245 00:13:59,720 --> 00:14:02,360 Speaker 3: in two nal investigation had uncovered a culture of serious 246 00:14:02,400 --> 00:14:08,319 Speaker 3: misconduct ratings from absenteesm intoxication during work hours, bullying, sexual harassment, 247 00:14:08,679 --> 00:14:12,160 Speaker 3: and potential bribery. He said, the investigations looked into Smiggles 248 00:14:12,200 --> 00:14:15,400 Speaker 3: people and cultural department. I quote, people were being bullied sexually, 249 00:14:15,920 --> 00:14:19,880 Speaker 3: sexual harassment, etc. And that was never reported interferenced by 250 00:14:19,880 --> 00:14:22,080 Speaker 3: the CEO to that department. And there's a long list 251 00:14:22,120 --> 00:14:26,240 Speaker 3: of situations end quote. Other issues being investigated includes tampering 252 00:14:26,240 --> 00:14:30,640 Speaker 3: with company products and potential instances of bribery. He well 253 00:14:30,680 --> 00:14:33,720 Speaker 3: and truly whacked the former CEO John Cheston, who left 254 00:14:33,800 --> 00:14:37,520 Speaker 3: Smiggle more than a year ago to run jewelry retailer Levisa. Now, 255 00:14:37,600 --> 00:14:41,600 Speaker 3: whether he was sacked or not is in dispute. Premier 256 00:14:41,720 --> 00:14:44,360 Speaker 3: said it involves serious misconduct and a serious breach of 257 00:14:44,600 --> 00:14:48,520 Speaker 3: his employment terms. Cheston absolutely refutes all this, refutes all 258 00:14:48,560 --> 00:14:52,040 Speaker 3: the allegations, and through his lawyer, has previously denied engaging 259 00:14:52,160 --> 00:14:54,840 Speaker 3: in any conduct that would warrant him being terminated or 260 00:14:54,840 --> 00:14:59,280 Speaker 3: being deprived of his share. That's fair, I mean, John 261 00:14:59,360 --> 00:15:02,600 Speaker 3: Cheston deserves to have his say, right, But just the 262 00:15:02,640 --> 00:15:06,840 Speaker 3: fact that Solomon lou came out and absolutely went ballistic 263 00:15:06,920 --> 00:15:10,400 Speaker 3: on this, next to the fact that Maya what they 264 00:15:10,400 --> 00:15:14,000 Speaker 3: brought from Premier Investments has really crapped out that's a 265 00:15:14,040 --> 00:15:21,040 Speaker 3: technical term in China. Quite remarkable. But it is absolutely 266 00:15:21,400 --> 00:15:25,120 Speaker 3: remarkable what's going on in the retail sector. The flip 267 00:15:25,160 --> 00:15:26,600 Speaker 3: side of it, which I sort of alluded to, there 268 00:15:26,640 --> 00:15:30,120 Speaker 3: are other retailers doing really well. Harvey Norman, JB. Hi 269 00:15:30,200 --> 00:15:34,120 Speaker 3: Fi been great examples, remarkable. 270 00:15:34,760 --> 00:15:40,880 Speaker 2: A very disrupted space retail from big online retailers, retailers 271 00:15:41,480 --> 00:15:43,800 Speaker 2: through to the retail space and for a long time 272 00:15:43,880 --> 00:15:48,560 Speaker 2: it's been a colorful industry right, But just this week 273 00:15:48,680 --> 00:15:53,040 Speaker 2: was a contest and a half and John sheston Solomon 274 00:15:53,120 --> 00:15:57,400 Speaker 2: lou where some of the content is just incredible. So 275 00:15:57,520 --> 00:16:03,440 Speaker 2: I think it has to win. Allegation questions absolutely on 276 00:16:04,160 --> 00:16:07,400 Speaker 2: Michael's though, I'm going to allow it in terms of 277 00:16:07,400 --> 00:16:13,240 Speaker 2: the time frame because taking out that metaphor of taking 278 00:16:13,240 --> 00:16:16,480 Speaker 2: out the trash on a Friday afternoon, that's what Optus 279 00:16:16,520 --> 00:16:20,600 Speaker 2: did last week. But this week the unpicking of how 280 00:16:20,600 --> 00:16:24,920 Speaker 2: they've handled it has been pretty severe. And you know 281 00:16:25,040 --> 00:16:28,680 Speaker 2: that whenever someone is forced will you resign? You know 282 00:16:28,800 --> 00:16:31,880 Speaker 2: things aren't looking good, you know, whenever that question comes up, 283 00:16:32,640 --> 00:16:35,760 Speaker 2: Jesus a CEO, that's an awful moment. If you can 284 00:16:35,800 --> 00:16:38,400 Speaker 2: get through it, great, But God to put the spectacle 285 00:16:39,040 --> 00:16:41,720 Speaker 2: on you become the spectacle rather than the business, and 286 00:16:41,720 --> 00:16:44,360 Speaker 2: that's not a good place to be. It is also 287 00:16:44,440 --> 00:16:48,680 Speaker 2: an awful tragedy. So yeah, it has been quite incredible 288 00:16:48,720 --> 00:16:49,160 Speaker 2: this week. 289 00:16:49,720 --> 00:16:56,680 Speaker 1: Shaw wins to Nil. We are running late. We are 290 00:16:56,800 --> 00:17:00,920 Speaker 1: short of time because of somebody being very for both 291 00:17:01,000 --> 00:17:03,320 Speaker 1: actually two people and it wasn't me, it's the two 292 00:17:03,360 --> 00:17:06,880 Speaker 1: of you too, Nil, Quick break back with the mystery 293 00:17:06,920 --> 00:17:16,440 Speaker 1: story of the week. All right, we are looking now 294 00:17:16,480 --> 00:17:18,960 Speaker 1: Sean for the mystery category of the week this week 295 00:17:19,080 --> 00:17:20,880 Speaker 1: the mystery what did I miss? Just then? 296 00:17:21,320 --> 00:17:24,280 Speaker 3: Sorry on nothing, Michael. You and Adam were just bickering 297 00:17:24,320 --> 00:17:27,560 Speaker 3: that who land break about? Who was talking too much? 298 00:17:29,240 --> 00:17:29,760 Speaker 1: Grow up? 299 00:17:30,040 --> 00:17:35,720 Speaker 3: The pair of them just accept it. What's the mystery category, Michael? 300 00:17:36,240 --> 00:17:41,720 Speaker 1: The mystery category this week is out landish statements by 301 00:17:41,800 --> 00:17:46,439 Speaker 1: Donald Trump. Oh gosh, what a contest. Yeah, we've got 302 00:17:46,480 --> 00:17:47,360 Speaker 1: a bit of ground to cover. 303 00:17:47,800 --> 00:17:50,879 Speaker 3: We did think about this, and he does it every week, 304 00:17:50,960 --> 00:17:55,119 Speaker 3: but this week was particularly crazy for the big fellow. 305 00:17:55,760 --> 00:17:56,680 Speaker 1: What have you got, Sean? 306 00:17:57,600 --> 00:18:03,919 Speaker 3: Me? Okay, As Adam alluded to plenty of choices, but 307 00:18:04,080 --> 00:18:08,399 Speaker 3: for me, I'm coming down on When he denied climate change, 308 00:18:08,400 --> 00:18:13,000 Speaker 3: calling it the greatest con job ever perpetrated on the world, 309 00:18:13,800 --> 00:18:16,080 Speaker 3: he refuted the use of renewable energy. He claimed that 310 00:18:16,119 --> 00:18:18,639 Speaker 3: clean energy sources such as solar and wind don't work 311 00:18:18,880 --> 00:18:21,080 Speaker 3: and are more expensive than fossil fuels. He also said 312 00:18:21,080 --> 00:18:23,960 Speaker 3: the UN was incorrect in its predictions about the consequences 313 00:18:23,960 --> 00:18:26,119 Speaker 3: of climate change, and the President repeatedly warned that the 314 00:18:26,119 --> 00:18:29,399 Speaker 3: economics of renewable energy are harming the economy and resulting 315 00:18:29,440 --> 00:18:33,520 Speaker 3: in higher energy costs. Let's check let's fact check a 316 00:18:33,560 --> 00:18:35,760 Speaker 3: few of these, or at least let's hear what US 317 00:18:35,760 --> 00:18:38,679 Speaker 3: network ABC has to say about the facts. Trump claims 318 00:18:38,760 --> 00:18:42,760 Speaker 3: renewable energy sources don't work and it's too expensive. Bob 319 00:18:42,760 --> 00:18:45,320 Speaker 3: bom In twenty four to eighty percent of the growth 320 00:18:45,320 --> 00:18:49,360 Speaker 3: in global electricity generation was from renewable and nuclear sources, 321 00:18:49,680 --> 00:18:52,959 Speaker 3: now contributes to about forty percent of the world's total 322 00:18:52,960 --> 00:18:56,480 Speaker 3: electricity generation. He also claimed the Wan's prediction about the 323 00:18:56,520 --> 00:18:59,320 Speaker 3: impacts of climate change have not come to fruition that 324 00:18:59,359 --> 00:19:05,200 Speaker 3: their exagger or are incorrect by Bomb again wrong, overwhelming 325 00:19:05,240 --> 00:19:09,199 Speaker 3: scientific evidence and consensus from thousands of scientists worldwide that 326 00:19:09,280 --> 00:19:13,439 Speaker 3: the climate is changing and that is causing harm to humans, 327 00:19:13,480 --> 00:19:16,880 Speaker 3: imposing significant risks to the environment of the global economy. 328 00:19:17,359 --> 00:19:20,320 Speaker 3: What about him saying that reducing carbon emissions cost jobs, 329 00:19:20,480 --> 00:19:22,680 Speaker 3: that's wrong. Over the past five years, more than half 330 00:19:22,680 --> 00:19:26,200 Speaker 3: a million clean energy jobs have been added in the US, 331 00:19:26,359 --> 00:19:29,359 Speaker 3: far more than fossil fuel industries. As an aside, not 332 00:19:29,440 --> 00:19:32,000 Speaker 3: part of the main story, we really do just I mean, 333 00:19:32,040 --> 00:19:34,920 Speaker 3: he said this to the UN General Assembly, right, and 334 00:19:35,080 --> 00:19:38,400 Speaker 3: we had people walking out on him, left, right and center. 335 00:19:38,640 --> 00:19:40,760 Speaker 3: It was kind of like going back to the nineteen sixties. 336 00:19:41,800 --> 00:19:44,200 Speaker 3: The other big part of the story is the fact 337 00:19:44,200 --> 00:19:48,639 Speaker 3: that poor old he and Milania jumped on the elevator 338 00:19:49,200 --> 00:19:52,800 Speaker 3: and it's stopped now. He said, they could have gone 339 00:19:52,800 --> 00:19:57,679 Speaker 3: faced first into the metal steps, all sorts of trouble. 340 00:19:58,080 --> 00:20:00,280 Speaker 3: He thinks that, alongside the fact of the telep prompt 341 00:20:00,280 --> 00:20:03,520 Speaker 3: to break as a setup, he wants heads to roll. Now. 342 00:20:03,920 --> 00:20:06,280 Speaker 3: The latest I've heard on that is the un said 343 00:20:06,280 --> 00:20:09,680 Speaker 3: they think that a videographer from Donald Trump's team accidentally, 344 00:20:09,680 --> 00:20:11,600 Speaker 3: as it was at the top of the stairs, hit 345 00:20:11,640 --> 00:20:14,840 Speaker 3: the stop button on the escalator and that's why the 346 00:20:14,920 --> 00:20:19,640 Speaker 3: escalator stopped. But Donald Trump, heads need to roll because 347 00:20:20,160 --> 00:20:21,800 Speaker 3: they're trying to They're trying to get me. Do you 348 00:20:21,880 --> 00:20:24,000 Speaker 3: know how hard it must be living in Donald Trump's 349 00:20:24,040 --> 00:20:32,960 Speaker 3: head everywhere? Oh yeah, like the fanaticism and the photographic 350 00:20:33,040 --> 00:20:37,679 Speaker 3: himself and oh my gosh. Anyway, that to me is 351 00:20:37,800 --> 00:20:40,959 Speaker 3: perhaps one of the most outlandish things Donald Trump has 352 00:20:41,040 --> 00:20:45,800 Speaker 3: ever said. It is a tough contest, well, it is, 353 00:20:46,119 --> 00:20:49,560 Speaker 3: but the fact that climate change is the greatest con 354 00:20:49,640 --> 00:20:53,680 Speaker 3: job ever perpetrated on the world. Michael, Yeah, he. 355 00:20:53,720 --> 00:20:57,399 Speaker 1: Has taken some taken aim at some pretty bizarre things. 356 00:20:57,680 --> 00:21:01,439 Speaker 1: Mine was just downright danger, right, And he did it 357 00:21:01,480 --> 00:21:04,280 Speaker 1: from the White House, so and he announced that it 358 00:21:04,320 --> 00:21:05,840 Speaker 1: was going to be this big press conference, So the 359 00:21:05,840 --> 00:21:08,159 Speaker 1: White House carries a lot of weight. Robert F. Kennedy 360 00:21:08,240 --> 00:21:11,600 Speaker 1: Junior at his side. And he claims that tyler ole, 361 00:21:11,680 --> 00:21:16,280 Speaker 1: essentially panetole, the key ingredient within these medications, is linked 362 00:21:16,359 --> 00:21:19,480 Speaker 1: to autism. And he ordered the FDA to slap a 363 00:21:19,520 --> 00:21:23,280 Speaker 1: warning on the label for tylerand ole. He even told 364 00:21:23,440 --> 00:21:26,880 Speaker 1: pregnant women he gave direct medical advice in this press conference. 365 00:21:27,080 --> 00:21:31,560 Speaker 1: Don't take it. There's no downside. Okay. The problem here, 366 00:21:31,960 --> 00:21:34,960 Speaker 1: the problem for the president on this particular occasion, as 367 00:21:35,000 --> 00:21:37,600 Speaker 1: you just pointed out, Sean, that in many cases, the 368 00:21:37,640 --> 00:21:42,760 Speaker 1: science just doesn't back up his claims. Studies are inconclusive 369 00:21:42,920 --> 00:21:47,040 Speaker 1: at best. Medical groups in the US all around the 370 00:21:47,040 --> 00:21:50,480 Speaker 1: world are furious and they are warning that Donald Trump's words, 371 00:21:50,800 --> 00:21:53,600 Speaker 1: what he said in this press conference could scare women 372 00:21:53,600 --> 00:21:58,240 Speaker 1: away from the only safe painkiller during pregnancy. And they're 373 00:21:58,280 --> 00:22:02,720 Speaker 1: emphasizing the fact that a high sustained fever during pregnancy 374 00:22:02,840 --> 00:22:05,560 Speaker 1: can be far more dangerous than other things, and that 375 00:22:05,920 --> 00:22:09,040 Speaker 1: autism experts as well as saying that his claims are irresponsible, 376 00:22:09,119 --> 00:22:13,000 Speaker 1: that they're dangerous. What makes this just extraordinary, right, It 377 00:22:13,040 --> 00:22:17,040 Speaker 1: isn't just the health risk, it's the fact that it's 378 00:22:17,760 --> 00:22:23,359 Speaker 1: the US President, flanked by his own health secretary, rewriting 379 00:22:23,440 --> 00:22:27,600 Speaker 1: medical guidance on the fly just as he was going. 380 00:22:27,640 --> 00:22:30,240 Speaker 1: And at one point during this press conference he said, 381 00:22:30,800 --> 00:22:33,520 Speaker 1: you know, I'm just making these statements from me. I'm 382 00:22:33,560 --> 00:22:37,280 Speaker 1: not making these I'm not making them from these doctors, 383 00:22:37,280 --> 00:22:40,280 Speaker 1: because when they talk about, you know, different results, different studies, 384 00:22:40,320 --> 00:22:42,919 Speaker 1: I just talk about a lot of common sense. And 385 00:22:43,000 --> 00:22:47,960 Speaker 1: here he is speaking from the White House, giving medical 386 00:22:48,240 --> 00:22:53,280 Speaker 1: advice to millions upon millions of people and linking autism 387 00:22:53,520 --> 00:22:57,320 Speaker 1: to anything when there is not the results to back 388 00:22:57,359 --> 00:23:00,000 Speaker 1: it up. We have seen what happens when that's happened 389 00:23:00,119 --> 00:23:02,560 Speaker 1: in the past, right. We've seen when the Wakefield study 390 00:23:02,600 --> 00:23:08,360 Speaker 1: that that that that was wrong, that linked vaccinations to autism, 391 00:23:08,720 --> 00:23:12,119 Speaker 1: and it took years to recover from that to get 392 00:23:12,200 --> 00:23:14,679 Speaker 1: vaccination rates back up to where they should be. Because 393 00:23:14,760 --> 00:23:18,560 Speaker 1: it scares people, It really scares people. And the Trump 394 00:23:18,600 --> 00:23:22,639 Speaker 1: administration and Donald Trump in particular, has just done exactly that, 395 00:23:22,680 --> 00:23:25,240 Speaker 1: and it is irresponsible and it is dangerous and it 396 00:23:25,320 --> 00:23:28,760 Speaker 1: is just wrong. Anyway, there you go, Adam. 397 00:23:28,560 --> 00:23:31,960 Speaker 3: Can I add something to that Australian Therapeutic Goods administration 398 00:23:32,520 --> 00:23:35,000 Speaker 3: told pregnant women. So they put a statement out immediately 399 00:23:35,040 --> 00:23:37,359 Speaker 3: afterwards that penanole is safe. 400 00:23:37,920 --> 00:23:40,320 Speaker 1: Yeah, for the reckon, it's just I mean, this is 401 00:23:40,359 --> 00:23:44,440 Speaker 1: the same bloke who when last time he was president, 402 00:23:45,080 --> 00:23:48,280 Speaker 1: pondered allowed during a press conference whether it would be 403 00:23:48,320 --> 00:23:53,760 Speaker 1: safe to inject people with bleach in order to bed. Yeah. 404 00:23:54,040 --> 00:23:57,399 Speaker 2: Come on, it's just if you scripted this stuff as 405 00:23:57,440 --> 00:24:01,320 Speaker 2: a novel, right, it just wouldn't It wouldn't pass. No, No, 406 00:24:01,760 --> 00:24:05,760 Speaker 2: you know, it's a remarkable topic. It's an excellent topic. 407 00:24:06,520 --> 00:24:10,960 Speaker 2: Unfortunately every week sings to bring a fresh adventure from 408 00:24:11,119 --> 00:24:15,000 Speaker 2: Donald Trump. But I think, Michael, you have to win 409 00:24:15,240 --> 00:24:20,119 Speaker 2: on this one for the most outlandish statement there is. 410 00:24:20,560 --> 00:24:25,320 Speaker 2: It can be dangerous and in my opinion, borderline reckless 411 00:24:25,359 --> 00:24:29,200 Speaker 2: to say statements like that, but without being too somber. 412 00:24:30,119 --> 00:24:33,040 Speaker 2: Just the imagery out of the un of an escalator stopping, 413 00:24:33,480 --> 00:24:36,760 Speaker 2: of a teleprompter not working, and how easy is to 414 00:24:36,800 --> 00:24:41,040 Speaker 2: throw off. There's got to be a conspiracy. Yeah, it 415 00:24:41,040 --> 00:24:44,360 Speaker 2: can't be just mistakes happening, No, that can't be it. 416 00:24:44,359 --> 00:24:47,359 Speaker 2: It's got to be someone, and probably a Democrat behind 417 00:24:47,400 --> 00:24:49,600 Speaker 2: all of this, so I thought it was it was 418 00:24:49,880 --> 00:24:52,560 Speaker 2: definitely outlandish. But Michael, you have. 419 00:24:52,520 --> 00:24:56,000 Speaker 1: To win favorite story. Shall I go first on this one? 420 00:24:56,600 --> 00:24:57,680 Speaker 3: Please do? Michael? 421 00:24:58,080 --> 00:25:02,240 Speaker 1: All right, Adam, just to check he's subjective by still 422 00:25:02,280 --> 00:25:07,159 Speaker 1: one of your criteria for judging it is okay, good, good, good, good, good, 423 00:25:07,240 --> 00:25:09,080 Speaker 1: good good. Because I know that you've done a lot 424 00:25:09,080 --> 00:25:11,600 Speaker 1: of work and talk a lot about the importance of trust, 425 00:25:11,720 --> 00:25:14,560 Speaker 1: brand trust, that this is a thing that really matters, 426 00:25:14,560 --> 00:25:16,240 Speaker 1: and that you've spoken you're a bit of an expert 427 00:25:16,280 --> 00:25:18,080 Speaker 1: on this front. Oh yeah, I can hear my heart 428 00:25:18,160 --> 00:25:19,520 Speaker 1: rate lifting, well. 429 00:25:19,920 --> 00:25:21,560 Speaker 3: I can. I can hear mine slowly. 430 00:25:21,760 --> 00:25:25,080 Speaker 1: Well, somewhere in the middle, you'll find me. I'm Switzerland. 431 00:25:25,080 --> 00:25:31,080 Speaker 1: Here Australia's trust barometer has spoken, and once again, once again, 432 00:25:31,119 --> 00:25:36,240 Speaker 1: Adam Bunnings reign supreme. This is the Roy Morgan Trust Survey, 433 00:25:36,320 --> 00:25:39,320 Speaker 1: which once again puts Bunnings at number one. It has 434 00:25:39,320 --> 00:25:41,639 Speaker 1: been number one in the past, which is why I 435 00:25:41,680 --> 00:25:44,280 Speaker 1: refer to it as being once again at number one, 436 00:25:44,680 --> 00:25:48,760 Speaker 1: followed by Aldi, Kmart, Apple and Toyota, even the banks. 437 00:25:48,880 --> 00:25:53,600 Speaker 1: Sean and I know you are a bank guy. Common 438 00:25:53,600 --> 00:25:58,600 Speaker 1: Wealth Comwealth Bank has ban bank guy I'm like, Okay, 439 00:25:58,640 --> 00:26:01,120 Speaker 1: there's other ways I could have described you as crack 440 00:26:01,200 --> 00:26:04,120 Speaker 1: the top ten for the first time. Well done, Commonwealth Bank. 441 00:26:04,320 --> 00:26:09,399 Speaker 1: But but but, Adam, the big story write this down. 442 00:26:09,640 --> 00:26:14,080 Speaker 1: The big story here is at the other end, Cole's 443 00:26:14,280 --> 00:26:19,479 Speaker 1: and Woolies are still our most still trusted brands, still 444 00:26:20,000 --> 00:26:24,640 Speaker 1: second year, Still go again. Still I get why you're 445 00:26:24,680 --> 00:26:26,919 Speaker 1: pointing out all of this again. And still you're like, oh, 446 00:26:26,960 --> 00:26:30,640 Speaker 1: because this isn't new, Because no, this is okay, this 447 00:26:30,920 --> 00:26:32,960 Speaker 1: is a big story, Sean. 448 00:26:33,680 --> 00:26:37,320 Speaker 3: And of course sometimes listening to how Michael's brain works, 449 00:26:39,400 --> 00:26:41,439 Speaker 3: it's quite an in real time. 450 00:26:41,760 --> 00:26:46,600 Speaker 1: Yeah, you're going to hear the rust the Okay, Colds 451 00:26:46,600 --> 00:26:49,359 Speaker 1: and Woollies still our most distrusted brands. And I actually 452 00:26:49,359 --> 00:26:52,760 Speaker 1: think the fact that they are still there after a 453 00:26:52,840 --> 00:26:57,720 Speaker 1: full year of reputational repair work, right. I think that 454 00:26:57,960 --> 00:27:00,199 Speaker 1: is interesting, the fact that they have slashed prices to 455 00:27:00,240 --> 00:27:03,199 Speaker 1: try and kind of earn trust back and it has 456 00:27:03,240 --> 00:27:08,120 Speaker 1: not worked, because it is extraordinary. They are numbers one 457 00:27:08,160 --> 00:27:11,640 Speaker 1: and two on the list of most distrusted brands. Behind 458 00:27:11,760 --> 00:27:15,960 Speaker 1: them on that list, so therefore more trusted than them. 459 00:27:16,400 --> 00:27:21,160 Speaker 1: You've got x, the social media platform, which is riddled 460 00:27:21,480 --> 00:27:25,679 Speaker 1: with misinformation. You've got Temu, a company that in twenty 461 00:27:25,720 --> 00:27:28,439 Speaker 1: twenty three was the subject of a finding by a 462 00:27:28,520 --> 00:27:31,960 Speaker 1: US government investigation that said there was an extremely high 463 00:27:32,080 --> 00:27:35,000 Speaker 1: risk that the products on the site that are being 464 00:27:35,080 --> 00:27:39,000 Speaker 1: imported from China were being made with forced labor. And 465 00:27:39,080 --> 00:27:43,240 Speaker 1: yet we have here these companies that are still more 466 00:27:43,320 --> 00:27:48,119 Speaker 1: trusted than Coal's and Woolworths. It shows it goes to 467 00:27:48,200 --> 00:27:52,800 Speaker 1: show Adam just how precious trust is, and that when 468 00:27:52,840 --> 00:27:56,400 Speaker 1: you lose it through things like the price gouging allegations, 469 00:27:56,600 --> 00:27:59,040 Speaker 1: the ah triable c investigations and the like, that it 470 00:27:59,119 --> 00:28:04,480 Speaker 1: is so very very very very hard to get it back. 471 00:28:05,000 --> 00:28:06,680 Speaker 1: And I just love the fact that Bunnings are still 472 00:28:06,680 --> 00:28:08,119 Speaker 1: at the top of the list that like, you just 473 00:28:08,160 --> 00:28:09,960 Speaker 1: give us a cheap sausage in bread and we will 474 00:28:09,960 --> 00:28:13,560 Speaker 1: trust you with our lives, apparently right and just. And 475 00:28:13,880 --> 00:28:17,080 Speaker 1: the power of that kind of almost quite transparent pricing 476 00:28:17,119 --> 00:28:19,560 Speaker 1: that there's no specials, this is the price you walk in. 477 00:28:19,760 --> 00:28:22,240 Speaker 1: Goes back to what Jack Cowen was saying about what 478 00:28:22,320 --> 00:28:24,480 Speaker 1: he's going to be doing with Domino's, getting rid of 479 00:28:24,240 --> 00:28:29,080 Speaker 1: all of the discounts and the little coupons and things, 480 00:28:29,119 --> 00:28:30,680 Speaker 1: because no one knows what they're going to get it. 481 00:28:30,800 --> 00:28:34,879 Speaker 1: Just wants it an everyday low pricing model like Bunnings, 482 00:28:34,960 --> 00:28:37,440 Speaker 1: because people trust it, they know what they're going to get. 483 00:28:37,440 --> 00:28:39,960 Speaker 1: And we're seeing this play out here with the trust barometer. 484 00:28:40,400 --> 00:28:42,000 Speaker 1: There you go, Sean, do you want to put an 485 00:28:42,080 --> 00:28:43,600 Speaker 1: entry in or are you happy to support mine? 486 00:28:43,840 --> 00:28:47,600 Speaker 3: Oh god, that was dull Adam. You're a chet GPT 487 00:28:47,720 --> 00:28:49,240 Speaker 3: years or aren't you? Oh? 488 00:28:49,320 --> 00:28:50,280 Speaker 2: Yeah? 489 00:28:50,360 --> 00:28:54,280 Speaker 3: So what do you use it for? Honestly? Oh god? 490 00:28:54,440 --> 00:28:58,280 Speaker 2: You know, never to finish anything, never to start anything, 491 00:28:58,360 --> 00:29:01,240 Speaker 2: all in the middle, lots and lots of works. But 492 00:29:01,360 --> 00:29:03,840 Speaker 2: lately in Oshan we did the bike ride this year 493 00:29:04,480 --> 00:29:08,640 Speaker 2: so for the Royal far West and what a great 494 00:29:08,680 --> 00:29:11,720 Speaker 2: event it was. But I used it a lot to 495 00:29:11,800 --> 00:29:15,680 Speaker 2: help me find a bike and then since then to 496 00:29:15,800 --> 00:29:16,640 Speaker 2: repair the bike. 497 00:29:17,720 --> 00:29:20,120 Speaker 3: So I've done to repair your legs and blisters. 498 00:29:20,640 --> 00:29:23,360 Speaker 1: Yes, that's why I recover saddle sort. 499 00:29:23,440 --> 00:29:26,480 Speaker 2: This is a real thing. Yeah, so probably a mix 500 00:29:26,560 --> 00:29:28,320 Speaker 2: of personal and professional. 501 00:29:28,640 --> 00:29:32,480 Speaker 3: So you are actually pretty typical because a year ago, 502 00:29:32,520 --> 00:29:36,080 Speaker 3: fifty percent of people were using chat GPT for work stuff. 503 00:29:36,480 --> 00:29:40,480 Speaker 3: That's fallen to thirty twenty seventy three percent of chapter 504 00:29:40,520 --> 00:29:45,080 Speaker 3: GPT usage is now personal matters that comes from the 505 00:29:45,200 --> 00:29:48,480 Speaker 3: first of a first of its kind study using millions 506 00:29:48,520 --> 00:29:52,920 Speaker 3: of anonymized messages. Academics from Harvard and Duke University has 507 00:29:52,960 --> 00:29:57,440 Speaker 3: got together created how people use chat GPT, so more 508 00:29:57,440 --> 00:30:00,280 Speaker 3: people are using it for personal than work. You want 509 00:30:00,280 --> 00:30:04,400 Speaker 3: to know some of the prompts that were fairly regular. 510 00:30:05,480 --> 00:30:09,120 Speaker 3: One my wife is mad at me, and I don't 511 00:30:09,200 --> 00:30:15,720 Speaker 3: know what to do. Had the nervous laughter from we 512 00:30:16,080 --> 00:30:21,200 Speaker 3: married men, isn't it? I must try that? Yeah? This 513 00:30:21,240 --> 00:30:23,840 Speaker 3: one's purely for Michael. How do black holes work? 514 00:30:24,400 --> 00:30:25,160 Speaker 1: Yeah? 515 00:30:25,160 --> 00:30:28,000 Speaker 3: Actually, that's a good one. He'd already know it, to 516 00:30:28,040 --> 00:30:31,160 Speaker 3: be honest. Yeah, he wouldn't be looking it up and 517 00:30:31,640 --> 00:30:35,280 Speaker 3: correcting it. We've all got teenage children. Well, Michael, you don't, 518 00:30:35,280 --> 00:30:37,640 Speaker 3: but you'll get there. Adam and I do. Does I 519 00:30:37,880 --> 00:30:43,959 Speaker 3: reduce pimples? I have never chat GPT? That one? I 520 00:30:43,960 --> 00:30:46,640 Speaker 3: mean work Stuff's about PowerPoint slides? You know that, Adam 521 00:30:46,840 --> 00:30:49,840 Speaker 3: write PowerPoint slides for a tax law conference. Yeah? I 522 00:30:49,960 --> 00:30:53,880 Speaker 3: like the rewrite this HR complaint. What makes it sound 523 00:30:53,920 --> 00:30:58,600 Speaker 3: better is that from the complaint? Or I don't know, 524 00:30:59,440 --> 00:31:03,960 Speaker 3: interesting perform a reggression analysis on this data? Yeah? Sure, anyway, 525 00:31:04,600 --> 00:31:08,160 Speaker 3: I highly paid professional occupations using it more than others, 526 00:31:08,240 --> 00:31:10,720 Speaker 3: just that more people now are using for personal life 527 00:31:10,880 --> 00:31:13,000 Speaker 3: and I just love it. My wife is mad at me, 528 00:31:13,080 --> 00:31:16,800 Speaker 3: and I don't know what to do. Her favorite story. 529 00:31:18,920 --> 00:31:20,040 Speaker 2: Short wins. 530 00:31:21,440 --> 00:31:23,600 Speaker 3: Jack GBT, what a great story. 531 00:31:24,600 --> 00:31:28,200 Speaker 2: I did this panel four Classic Night Hub twenty four 532 00:31:28,760 --> 00:31:32,280 Speaker 2: in Sydney on Thursday, and it was all about artificial intelligence. 533 00:31:32,320 --> 00:31:34,200 Speaker 2: And so this is for a room of accountants and 534 00:31:34,280 --> 00:31:40,480 Speaker 2: financial plannets and just the appetite for everybody. Everyone wants 535 00:31:40,520 --> 00:31:42,880 Speaker 2: to figure out ways to use it, and everyone's learning 536 00:31:42,960 --> 00:31:47,040 Speaker 2: from each other. I love the fact my wife is angry. 537 00:31:47,440 --> 00:31:51,840 Speaker 1: What should I do the number one query? Yeah? We 538 00:31:51,920 --> 00:31:53,160 Speaker 1: are humans after all. 539 00:31:53,560 --> 00:31:56,920 Speaker 3: Okay, landslide three one? 540 00:31:57,360 --> 00:32:00,840 Speaker 1: It does have the feeling of a landslide. Is it 541 00:32:00,880 --> 00:32:03,280 Speaker 1: worth going to the points? Is there any salvation there 542 00:32:03,320 --> 00:32:03,600 Speaker 1: for me? 543 00:32:04,080 --> 00:32:04,520 Speaker 3: Well? 544 00:32:04,920 --> 00:32:08,640 Speaker 2: Yes, I mean Michael ninety Sean ninety two. I think 545 00:32:08,840 --> 00:32:12,320 Speaker 2: two points is a landslide, right, How. 546 00:32:12,200 --> 00:32:15,040 Speaker 1: Is that possible? When you won three? When you won three, 547 00:32:15,760 --> 00:32:20,160 Speaker 1: when you won three categories? Yes, only two points. 548 00:32:20,480 --> 00:32:22,640 Speaker 3: I do surprise myself sometimes anyway. 549 00:32:22,720 --> 00:32:23,600 Speaker 1: Yes, that's the score. 550 00:32:23,680 --> 00:32:27,560 Speaker 3: Alie, you should be using check GPT for your maths. 551 00:32:28,160 --> 00:32:35,400 Speaker 1: Oh that is extraordinary. Okay, good contest. Congratulations Sean and 552 00:32:35,440 --> 00:32:35,880 Speaker 1: thank you. 553 00:32:36,400 --> 00:32:38,240 Speaker 3: Thank you Michael, thank you Adam. 554 00:32:38,160 --> 00:32:40,640 Speaker 2: Thank you Sean, thank you Michael. Michael, can I commend 555 00:32:40,680 --> 00:32:44,160 Speaker 2: you in your last story? You used three butts and 556 00:32:44,360 --> 00:32:45,240 Speaker 2: four varies. 557 00:32:47,120 --> 00:32:48,080 Speaker 1: Didn't help, did it? 558 00:32:48,720 --> 00:32:48,760 Speaker 3: Not? 559 00:32:48,880 --> 00:32:51,920 Speaker 1: This okay? Maybe next week I'll go for five. Make 560 00:32:51,960 --> 00:32:54,600 Speaker 1: sure you're following the podcast, and please head to Fearangreed 561 00:32:54,760 --> 00:32:56,560 Speaker 1: dot com dot au to sign up for our free 562 00:32:56,640 --> 00:32:59,200 Speaker 1: daily newsletter. I'm Michael Thompson and that was Fear and Greed. 563 00:32:59,440 --> 00:32:59,920 Speaker 1: Have a great week.