1 00:00:04,800 --> 00:00:05,720 Speaker 1: God, I hope this works. 2 00:00:05,800 --> 00:00:08,640 Speaker 2: This is the weekend edition of Fear and Greed business 3 00:00:08,640 --> 00:00:11,920 Speaker 2: News you can use. I'm Michael Thompson and for the 4 00:00:11,960 --> 00:00:13,760 Speaker 2: first time, Good Evening, Sean. 5 00:00:13,520 --> 00:00:22,160 Speaker 1: Aylmer, Good Evening, Michael so smooth. 6 00:00:22,520 --> 00:00:25,480 Speaker 2: This is a very special episode that we are doing 7 00:00:25,520 --> 00:00:29,640 Speaker 2: here today. This is our first ever weekend edition recorded 8 00:00:29,720 --> 00:00:32,600 Speaker 2: in front of a live audience here at Business Sitney. 9 00:00:37,479 --> 00:00:39,479 Speaker 1: That was well done. That was almost as though we 10 00:00:39,560 --> 00:00:40,080 Speaker 1: prepared that. 11 00:00:40,400 --> 00:00:43,080 Speaker 2: Now for our for any new listeners, if somebody has 12 00:00:43,120 --> 00:00:45,880 Speaker 2: been dragged along this evening by someone who's never heard 13 00:00:45,920 --> 00:00:49,159 Speaker 2: Fear and Greed and never heard a weekend edition, this 14 00:00:49,280 --> 00:00:53,360 Speaker 2: is basically what we do. The weekend edition is a debate, right, 15 00:00:53,440 --> 00:00:57,800 Speaker 2: So we work through four separate categories and Sean and 16 00:00:57,840 --> 00:01:01,080 Speaker 2: I each nominate what we think is the biggest business 17 00:01:01,120 --> 00:01:04,280 Speaker 2: story of the week, the most remarkable business story. There 18 00:01:04,319 --> 00:01:07,480 Speaker 2: is a mystery category that we change every single week, 19 00:01:07,480 --> 00:01:11,040 Speaker 2: and then our favorite business kind of related story. We 20 00:01:11,080 --> 00:01:13,800 Speaker 2: are joined every week by a judge because it is 21 00:01:13,800 --> 00:01:16,000 Speaker 2: a competition and we need to pick a winner as 22 00:01:16,000 --> 00:01:18,440 Speaker 2: we do this, and that judge, as always is our 23 00:01:18,440 --> 00:01:21,199 Speaker 2: Fear and Greed colleague Adam Lang Adam Good evening. 24 00:01:21,319 --> 00:01:23,000 Speaker 3: Hello Michael, Hello Sewan. 25 00:01:23,000 --> 00:01:30,800 Speaker 4: Hello Adam. Okay, the archemtry judge in the business a 26 00:01:30,920 --> 00:01:31,440 Speaker 4: dance ski. 27 00:01:32,000 --> 00:01:33,920 Speaker 3: I think there's a method behind it. 28 00:01:34,040 --> 00:01:34,479 Speaker 4: What is it? 29 00:01:34,640 --> 00:01:38,680 Speaker 5: Okay, So topicality and timeliness. Of course, economic impact is 30 00:01:38,720 --> 00:01:40,959 Speaker 5: the big one. I do bring in some of my 31 00:01:41,000 --> 00:01:43,960 Speaker 5: own subjective bias and then of course partly to Michael 32 00:01:44,280 --> 00:01:46,240 Speaker 5: and to coax it out of you, some melodrama. 33 00:01:46,840 --> 00:01:47,960 Speaker 1: So they're the criteria. 34 00:01:48,320 --> 00:01:51,040 Speaker 2: Feel free to forget them, because Adam does, and he 35 00:01:51,280 --> 00:01:54,360 Speaker 2: just marks us based on whatever is feeling at the moment. 36 00:01:54,400 --> 00:01:57,720 Speaker 2: It is highly rigged against me. I will just say 37 00:01:57,720 --> 00:01:58,640 Speaker 2: that from the outset. 38 00:01:59,080 --> 00:02:03,120 Speaker 1: I have rarely. I've won probably one in six episodes 39 00:02:03,160 --> 00:02:06,160 Speaker 1: that we have done, and they were close. They were 40 00:02:06,200 --> 00:02:06,960 Speaker 1: pity wins. 41 00:02:07,160 --> 00:02:09,680 Speaker 2: Essentially, I'm hoping at the very least for a pity 42 00:02:09,720 --> 00:02:12,280 Speaker 2: win this evening. Now, there is one thing I need 43 00:02:12,320 --> 00:02:14,920 Speaker 2: to point out. If you're listening to this on Saturday. 44 00:02:15,080 --> 00:02:18,240 Speaker 2: This is the weekend edition being recorded on a Thursday, 45 00:02:18,280 --> 00:02:22,200 Speaker 2: So we are at the significant risk of a major 46 00:02:22,240 --> 00:02:26,760 Speaker 2: event happening on Friday, in which case we will leave 47 00:02:26,760 --> 00:02:28,960 Speaker 2: those out and we'll just all pretend that it didn't happen. 48 00:02:29,200 --> 00:02:31,359 Speaker 2: So if Donald Trump happens to do something which is 49 00:02:31,440 --> 00:02:33,840 Speaker 2: highly unlikely that he'll do anything in the next twenty 50 00:02:33,840 --> 00:02:35,280 Speaker 2: four to thirty six hours. 51 00:02:35,520 --> 00:02:38,160 Speaker 1: Just pretend it didn't happen. Shall we jump in. 52 00:02:38,360 --> 00:02:39,000 Speaker 3: Go for it? 53 00:02:39,480 --> 00:02:42,720 Speaker 6: One biggest story of the week, Okay, no it's not 54 00:02:43,280 --> 00:02:48,080 Speaker 6: there is go the economy, National Accounts, Reserve Bank minutes 55 00:02:48,560 --> 00:02:53,400 Speaker 6: say whistle to them a winner with Adam. Why do 56 00:02:53,440 --> 00:02:55,560 Speaker 6: we find out this week? We found out that households 57 00:02:55,600 --> 00:02:58,640 Speaker 6: aren't spending very much. We found out that businesses aren't 58 00:02:58,680 --> 00:03:01,000 Speaker 6: investing very much. We found out government's. 59 00:03:00,680 --> 00:03:03,600 Speaker 4: Queensland in particular, they're not spending as much as I 60 00:03:03,760 --> 00:03:04,120 Speaker 4: used to. 61 00:03:04,560 --> 00:03:07,200 Speaker 6: We have a growth rate of zero point two percent 62 00:03:07,280 --> 00:03:08,640 Speaker 6: one point three percent for the year. 63 00:03:09,880 --> 00:03:13,120 Speaker 4: That is crap, right, that's an economic term. That is 64 00:03:13,160 --> 00:03:14,639 Speaker 4: a crap growth rate. 65 00:03:16,000 --> 00:03:18,320 Speaker 6: We also found out from the Reserve Bank minutes that 66 00:03:18,400 --> 00:03:21,880 Speaker 6: they thought about a fifty basis point rate cut. Now 67 00:03:21,919 --> 00:03:24,440 Speaker 6: there's a chief economist at National Australia Bank, a woman 68 00:03:24,480 --> 00:03:27,040 Speaker 6: called Sally auld who was on the show during the week, 69 00:03:27,639 --> 00:03:29,280 Speaker 6: and she was about the only person they said yeah, 70 00:03:29,280 --> 00:03:32,680 Speaker 6: they're going to cut fifty basis points. Everyone was like, really, well, 71 00:03:32,800 --> 00:03:35,760 Speaker 6: she wasn't far from being wrong. So you put the 72 00:03:35,840 --> 00:03:38,960 Speaker 6: national accounts together along with the Reserve Bank minutes. 73 00:03:39,480 --> 00:03:44,480 Speaker 4: Only one big story. The economy is not looking very 74 00:03:44,520 --> 00:03:47,160 Speaker 4: good and that means rate cuts. So how many here 75 00:03:47,240 --> 00:03:49,640 Speaker 4: has a homeland Please? Hands up? I've got a mortgage. 76 00:03:50,040 --> 00:03:51,640 Speaker 4: Who'd be happy with a raid cut? 77 00:03:52,240 --> 00:03:55,000 Speaker 6: Who'd be even happier with two rate cuts and the 78 00:03:55,040 --> 00:03:55,760 Speaker 6: third one at. 79 00:03:55,640 --> 00:03:56,320 Speaker 1: The end of the year. 80 00:03:56,880 --> 00:04:02,120 Speaker 6: Yeah, Absolutely, biggest story of the week the economy, rate cuts, 81 00:04:02,200 --> 00:04:03,320 Speaker 6: national accounts, et cetera. 82 00:04:03,600 --> 00:04:04,680 Speaker 4: Michael beat that. 83 00:04:05,000 --> 00:04:07,400 Speaker 2: We have not yet. We have not yet had those interests. 84 00:04:07,400 --> 00:04:09,760 Speaker 2: I just write this down, Adam, we have not yet 85 00:04:09,840 --> 00:04:12,080 Speaker 2: had those interest rate cuts, so I don't think you 86 00:04:12,080 --> 00:04:14,360 Speaker 2: can judge on that. And Sean, up until that last 87 00:04:14,400 --> 00:04:17,280 Speaker 2: part where people actually started cheering for you, you were being 88 00:04:17,480 --> 00:04:20,280 Speaker 2: so negative about the economy. 89 00:04:20,920 --> 00:04:23,520 Speaker 1: Lucky for you, I've. 90 00:04:23,320 --> 00:04:26,479 Speaker 2: Been doing a little bit of digging into the economic 91 00:04:26,600 --> 00:04:29,159 Speaker 2: data that came from the ABS this week, which is 92 00:04:29,200 --> 00:04:30,760 Speaker 2: what I like to do. I like to pour over 93 00:04:30,760 --> 00:04:35,680 Speaker 2: the spreadsheets. Why would you laugh at that? I am 94 00:04:35,760 --> 00:04:40,680 Speaker 2: a details guy and I noted as you would. And 95 00:04:40,720 --> 00:04:44,200 Speaker 2: I'm not reading this. I'm just looking down conveniently that 96 00:04:44,279 --> 00:04:48,799 Speaker 2: Australia's economic output in the last twelve months was a stunning, 97 00:04:49,200 --> 00:04:55,320 Speaker 2: a stunning two point seventy five trillion dollars. That's not billion, 98 00:04:55,760 --> 00:04:58,919 Speaker 2: that's trillion with a T. That is extraord yet that 99 00:04:59,120 --> 00:05:01,400 Speaker 2: we should be cheering because that is amazing. 100 00:05:01,640 --> 00:05:04,120 Speaker 1: Right, Yes, now consider. 101 00:05:03,760 --> 00:05:09,240 Speaker 4: This, See where the audience is going, and I don't like. 102 00:05:09,279 --> 00:05:12,800 Speaker 2: You, do not look anywhere towards the esteemed economists sitting 103 00:05:12,839 --> 00:05:16,480 Speaker 2: in the sitting in the audience. That two point seventy 104 00:05:16,480 --> 00:05:19,400 Speaker 2: five trillion dollars. Just consider that that is one hundred 105 00:05:19,400 --> 00:05:22,240 Speaker 2: thousand dollars more than one hundred thousand dollars per capita 106 00:05:22,320 --> 00:05:25,279 Speaker 2: for the first time in history. And this has been 107 00:05:25,480 --> 00:05:30,280 Speaker 2: entirely overlooking exactly right. This is fantastic to see people 108 00:05:30,279 --> 00:05:33,080 Speaker 2: getting excited about the economy. Now that includes per capita 109 00:05:33,080 --> 00:05:36,760 Speaker 2: when we're talking about this, that is including babies, that 110 00:05:36,920 --> 00:05:41,320 Speaker 2: is including the elderly, the retired, people who are like 111 00:05:41,520 --> 00:05:43,679 Speaker 2: that is an incredible result. 112 00:05:43,920 --> 00:05:44,159 Speaker 1: It was. 113 00:05:44,200 --> 00:05:48,920 Speaker 2: In fact, I was so amazed and so stunned shocked 114 00:05:49,279 --> 00:05:51,599 Speaker 2: when I saw this when I was trawling through the 115 00:05:51,640 --> 00:05:53,160 Speaker 2: ABS documents. 116 00:05:54,080 --> 00:05:56,360 Speaker 1: I did the Man of the. 117 00:05:56,279 --> 00:05:58,280 Speaker 2: People, thank you. Yes, that is what I'm known as. 118 00:05:58,360 --> 00:06:01,280 Speaker 2: I'm here to represent the Australian people. Here against negative 119 00:06:01,320 --> 00:06:04,599 Speaker 2: Nelly on the end. What I did, I actually went 120 00:06:04,880 --> 00:06:08,480 Speaker 2: to then, as you would expect the International Monetary Fund 121 00:06:08,480 --> 00:06:08,960 Speaker 2: webs you. 122 00:06:08,960 --> 00:06:12,560 Speaker 1: Did, yes, I did. Didn't go on go okay, I 123 00:06:12,600 --> 00:06:14,839 Speaker 1: know what they're interested that you did. Don't test me. 124 00:06:15,080 --> 00:06:16,560 Speaker 2: No, I went to the because I want to see 125 00:06:16,560 --> 00:06:19,720 Speaker 2: how Australia then kind of compared in terms of per 126 00:06:19,760 --> 00:06:22,040 Speaker 2: capita GDP. Now keep in mind this is all just 127 00:06:22,120 --> 00:06:23,640 Speaker 2: a rebuttal to you at the moment, Shor and I 128 00:06:23,680 --> 00:06:27,080 Speaker 2: haven't gotten to my story yet, but it actually. 129 00:06:26,760 --> 00:06:29,240 Speaker 4: Eve noticed that sometimes the weekend addition goes like forty 130 00:06:29,320 --> 00:06:30,840 Speaker 4: forty five minutes, maybe fifty. 131 00:06:31,000 --> 00:06:32,479 Speaker 1: Trust me, I'm going somewhere. 132 00:06:32,480 --> 00:06:33,679 Speaker 4: Together for Michael Thompson. 133 00:06:34,720 --> 00:06:37,920 Speaker 1: Yeah, exactly. You were interrupting, and I trust the two 134 00:06:37,920 --> 00:06:38,760 Speaker 1: will penalize him. 135 00:06:38,839 --> 00:06:42,680 Speaker 2: But consider the fact, once again referring to nothing in 136 00:06:42,680 --> 00:06:46,360 Speaker 2: front of me on the IMF's figures. This is staggering, 137 00:06:46,360 --> 00:06:48,320 Speaker 2: and I hope everybody brought a pen because you want 138 00:06:48,360 --> 00:06:52,840 Speaker 2: to write this down. Australia's per capita GDP is eleventh 139 00:06:52,920 --> 00:06:57,800 Speaker 2: highest in the world, right, eleventh, which actually sounds pretty good. 140 00:06:58,160 --> 00:07:01,680 Speaker 2: Then you figure that the the country is above us, right, 141 00:07:02,279 --> 00:07:06,760 Speaker 2: we are talking about kind of Luxembourg, Iceland, Qatar. They're 142 00:07:06,800 --> 00:07:09,960 Speaker 2: not exactly economic powerhouses. And then you've got kind of 143 00:07:10,040 --> 00:07:14,360 Speaker 2: big Switzerland, Singapore, Norway, Denmark, the Netherlands. None of these 144 00:07:14,400 --> 00:07:19,640 Speaker 2: countries have a population more than ten million people. What 145 00:07:19,680 --> 00:07:23,040 Speaker 2: that says to me is that Australia is actually doing 146 00:07:23,480 --> 00:07:27,080 Speaker 2: very very well. So as the man of the people, 147 00:07:27,120 --> 00:07:29,240 Speaker 2: self appointed man of the people, I am. 148 00:07:29,160 --> 00:07:31,560 Speaker 4: So is this? Can I just add some details on this? 149 00:07:31,680 --> 00:07:33,120 Speaker 1: Oh no, no, please don't. 150 00:07:34,800 --> 00:07:41,280 Speaker 4: Ad or USD, but that of course it's USD. Sean, 151 00:07:41,440 --> 00:07:43,800 Speaker 4: come on, I think we shall put our hands together 152 00:07:44,000 --> 00:07:47,120 Speaker 4: for any help. Michael evergets the great Stephen Cocola's over there. 153 00:07:47,120 --> 00:07:52,520 Speaker 4: Thank you very much, Stephen cool a way, we haven't 154 00:07:52,520 --> 00:07:53,560 Speaker 4: gotten to your. 155 00:07:53,400 --> 00:07:55,920 Speaker 2: Our resident economists might have fed me a couple of 156 00:07:55,960 --> 00:07:57,800 Speaker 2: statistics in the hope that I would win. 157 00:07:58,040 --> 00:08:00,320 Speaker 1: Keep in mind that was all us A rebuttal to 158 00:08:00,320 --> 00:08:01,000 Speaker 1: to your. 159 00:08:03,480 --> 00:08:04,640 Speaker 4: Eight minutes in go on. 160 00:08:04,720 --> 00:08:09,040 Speaker 2: Mediocre entry. My actual story the biggest No, I'm done. 161 00:08:09,040 --> 00:08:11,800 Speaker 2: I'm pretty much done. I'm pretty much done, except for 162 00:08:11,800 --> 00:08:13,720 Speaker 2: the fact that I haven't actually started yet. My actual 163 00:08:13,760 --> 00:08:16,720 Speaker 2: story for this week, very very quick. One wage rise, 164 00:08:16,800 --> 00:08:19,200 Speaker 2: minimum wage increase. We had the Fair Work Commission this 165 00:08:19,240 --> 00:08:23,160 Speaker 2: week announcing a three point five percent increase in the 166 00:08:23,160 --> 00:08:26,000 Speaker 2: minimum wage, and obviously there's a stack of awards that 167 00:08:26,040 --> 00:08:28,080 Speaker 2: are based off that as well. 168 00:08:29,160 --> 00:08:30,160 Speaker 1: Did you just laugh? 169 00:08:31,440 --> 00:08:34,120 Speaker 5: Can I just say, not familiar with the economic term 170 00:08:34,120 --> 00:08:35,560 Speaker 5: a stack of awards? 171 00:08:35,640 --> 00:08:38,720 Speaker 2: It's actually it's defined as a stack is any more 172 00:08:38,720 --> 00:08:40,959 Speaker 2: than eighty I don't know. 173 00:08:41,080 --> 00:08:42,360 Speaker 1: I don't actually know that that's the case. 174 00:08:42,520 --> 00:08:44,439 Speaker 2: But the fact is, it's very off putting when the 175 00:08:44,520 --> 00:08:46,319 Speaker 2: judge is sitting next to you, and the judge laughs 176 00:08:46,320 --> 00:08:48,199 Speaker 2: at a point that you make when you weren't trying 177 00:08:48,240 --> 00:08:51,080 Speaker 2: to be funny. Unions wanted a four and a half 178 00:08:51,080 --> 00:08:53,559 Speaker 2: percent increase, business wanted two and a half percent, and 179 00:08:53,640 --> 00:08:54,839 Speaker 2: the fact that it came in at three and a 180 00:08:54,840 --> 00:08:57,880 Speaker 2: half kind of sounds like it's pretty well, exactly in 181 00:08:57,920 --> 00:09:00,480 Speaker 2: the middle. We've got inflation that's sitting around two. 182 00:09:00,360 --> 00:09:01,520 Speaker 4: And a half. Two and a half, three and a 183 00:09:01,559 --> 00:09:03,600 Speaker 4: half sounds like it's exactly in the middle. 184 00:09:03,720 --> 00:09:06,760 Speaker 2: Yeah, it's approximately or exactly I suppose actually, if you 185 00:09:06,760 --> 00:09:10,800 Speaker 2: want to get technical, but suppose inflation sitting at two 186 00:09:10,800 --> 00:09:13,560 Speaker 2: point four percent. What that basically means, this is a 187 00:09:13,600 --> 00:09:16,280 Speaker 2: real way drives there you go, people can actually buy more. 188 00:09:16,360 --> 00:09:17,960 Speaker 2: This means a lot. You know who it means a 189 00:09:17,960 --> 00:09:20,520 Speaker 2: lot to Australians. It means a lot. 190 00:09:21,320 --> 00:09:25,160 Speaker 1: Yes, cheer for Australian, that's right. And just to be very. 191 00:09:25,000 --> 00:09:26,960 Speaker 2: Clear, if I do not win this, it will be 192 00:09:27,080 --> 00:09:30,840 Speaker 2: un Australian and you will be declaring yourself to be 193 00:09:30,880 --> 00:09:32,480 Speaker 2: an enemy of the state. 194 00:09:32,640 --> 00:09:35,720 Speaker 1: I don't think I've ever gone that far. No, no, no, 195 00:09:35,760 --> 00:09:39,920 Speaker 1: you have all right, all right, please now, thank you? Yes, 196 00:09:40,360 --> 00:09:41,240 Speaker 1: Now to the judgment. 197 00:09:41,520 --> 00:09:44,960 Speaker 5: Okay, so just a quick one GDP eleventh in the world. 198 00:09:45,679 --> 00:09:47,959 Speaker 5: You know where we've come from, like, where did it 199 00:09:48,000 --> 00:09:48,280 Speaker 5: go up? 200 00:09:48,320 --> 00:09:48,560 Speaker 3: Down? 201 00:09:48,600 --> 00:09:52,600 Speaker 1: So yeah, it was. It's actually been kind of Stephen. 202 00:09:53,400 --> 00:09:54,800 Speaker 1: It's relatively stable. 203 00:09:54,800 --> 00:09:58,880 Speaker 4: That's nothing new to see here, just. 204 00:09:59,000 --> 00:10:04,880 Speaker 3: Stable at eleven. Okay, Michael, you win. I know this 205 00:10:04,960 --> 00:10:05,320 Speaker 3: is going to. 206 00:10:08,440 --> 00:10:11,160 Speaker 2: Yes, thank you, thank you. 207 00:10:11,200 --> 00:10:12,040 Speaker 1: So we've got to go. 208 00:10:12,280 --> 00:10:15,480 Speaker 6: Squirrel there from the crowd, right, You know, when you're 209 00:10:15,520 --> 00:10:18,520 Speaker 6: angry at yourself and you're doing something and you go, 210 00:10:18,720 --> 00:10:20,680 Speaker 6: oh sure, and you're an idiot, all right, you talk 211 00:10:20,679 --> 00:10:25,319 Speaker 6: about yourself in the third person, first person. Michael actually 212 00:10:25,520 --> 00:10:28,800 Speaker 6: uses his nickname, so his nickname is Squirrel, and so 213 00:10:28,840 --> 00:10:30,800 Speaker 6: when he gets angry, he doesn't go, Michael, you're an idiot. 214 00:10:30,840 --> 00:10:33,720 Speaker 4: He goes, Squirrel, You're an idiot. He's the only person 215 00:10:33,760 --> 00:10:36,080 Speaker 4: I've ever seen use his nickname like that. 216 00:10:36,920 --> 00:10:39,760 Speaker 1: It's kind of affections squirrel, Yeah, the squirrel. 217 00:10:39,840 --> 00:10:41,920 Speaker 2: No, it's affectionate, like I'm going to be gentle to 218 00:10:41,960 --> 00:10:44,400 Speaker 2: myself even when I'm reprimanding myself as we're working. 219 00:10:44,559 --> 00:10:45,360 Speaker 1: That's a good victory. 220 00:10:45,920 --> 00:10:48,679 Speaker 4: Can you tell me, judge, if you want to call 221 00:10:48,720 --> 00:10:50,440 Speaker 4: yourself at this point, which I'm not sure you should, 222 00:10:50,960 --> 00:10:52,560 Speaker 4: why I can? 223 00:10:52,840 --> 00:10:58,280 Speaker 6: Because seriously, how many people here are on the minimum wage? Okay, 224 00:10:58,640 --> 00:10:59,920 Speaker 6: a couple of my kids over there. 225 00:11:00,240 --> 00:11:02,760 Speaker 4: How many people have got how many people have got 226 00:11:02,760 --> 00:11:07,840 Speaker 4: a mortgage? Thank you very much? Go on, Adams, why you. 227 00:11:08,480 --> 00:11:13,720 Speaker 5: So look sean your your figures, national accounts backward looking 228 00:11:13,880 --> 00:11:18,480 Speaker 5: as they are, I really die. And there is actually 229 00:11:18,520 --> 00:11:20,880 Speaker 5: some good news. I think the wage rise, even as 230 00:11:20,920 --> 00:11:23,360 Speaker 5: you said during the week, it's good news. It's a 231 00:11:23,400 --> 00:11:24,560 Speaker 5: good valid decision. 232 00:11:25,120 --> 00:11:27,760 Speaker 4: So I think, don't just try and make you know. 233 00:11:27,840 --> 00:11:31,800 Speaker 5: Using your own words against you. So there is I 234 00:11:31,840 --> 00:11:34,000 Speaker 5: think good news in lifting the minimum wage. I think 235 00:11:34,040 --> 00:11:36,000 Speaker 5: you point out is about eleven percent of roles are 236 00:11:36,040 --> 00:11:38,520 Speaker 5: actually paid at that level, So I think to lift 237 00:11:38,559 --> 00:11:40,000 Speaker 5: that base is a very very good thing. 238 00:11:40,080 --> 00:11:41,079 Speaker 3: So I'm thinking that it's a win. 239 00:11:41,200 --> 00:11:44,200 Speaker 1: So well played, Michael, Thank you, thank you, thank you everyone. 240 00:11:47,200 --> 00:11:49,600 Speaker 4: What about what's great about this is that we're really 241 00:11:49,960 --> 00:11:52,840 Speaker 4: like poor losers, but we're also really poor winners. So 242 00:11:52,920 --> 00:11:54,520 Speaker 4: there is no grace in this at all. 243 00:11:54,640 --> 00:11:56,120 Speaker 1: No, no, no no, And. 244 00:11:58,640 --> 00:11:59,160 Speaker 4: It's true. 245 00:11:59,320 --> 00:12:02,320 Speaker 2: Okay, let's move on quickly because we have been waylaid 246 00:12:02,360 --> 00:12:08,880 Speaker 2: slightly by just it's a team effort. Most remarkable story. 247 00:12:08,960 --> 00:12:12,720 Speaker 2: So that was the biggest business story of the week. Okay, 248 00:12:12,760 --> 00:12:14,319 Speaker 2: I'll go first because and I'll do it a lot 249 00:12:14,360 --> 00:12:18,280 Speaker 2: lot faster this time. So there is one most remarkable 250 00:12:18,320 --> 00:12:21,120 Speaker 2: story this week. And this is high risk saying this, 251 00:12:21,200 --> 00:12:23,920 Speaker 2: but it is a continuation and an evolution of a 252 00:12:23,960 --> 00:12:26,640 Speaker 2: story that has been unfolding for some time. But this week, 253 00:12:26,840 --> 00:12:29,760 Speaker 2: this week, Adam, we saw it come to a head. Right, 254 00:12:29,840 --> 00:12:34,160 Speaker 2: So this is the spectacular blow up between Elon Musk 255 00:12:34,640 --> 00:12:39,360 Speaker 2: and Donald Trump right over the somewhat exotically named I've 256 00:12:39,400 --> 00:12:43,480 Speaker 2: got to get this right, the One Big Beautiful Bill Act. 257 00:12:43,720 --> 00:12:46,600 Speaker 2: That is the official name of this massive piece of 258 00:12:46,679 --> 00:12:49,800 Speaker 2: legislation that is going on in the US at the moment. 259 00:12:49,840 --> 00:12:52,920 Speaker 2: It is called the One Big Beautiful Bill Act. It 260 00:12:53,000 --> 00:12:56,080 Speaker 2: is plastered all over the White House website, but it 261 00:12:56,160 --> 00:13:00,120 Speaker 2: is also referred to by its nickname of obb B 262 00:13:00,360 --> 00:13:04,200 Speaker 2: b A, or if you're feeling really casual, you can 263 00:13:04,240 --> 00:13:07,640 Speaker 2: just call it BBB, which is just and you hear 264 00:13:07,720 --> 00:13:10,199 Speaker 2: it and you cannot help but say it in Donald 265 00:13:10,240 --> 00:13:12,240 Speaker 2: Trump's voice, like when you hear it in your head, 266 00:13:12,280 --> 00:13:15,160 Speaker 2: when you hear the One Big Beautiful Bill Act, it 267 00:13:15,280 --> 00:13:17,600 Speaker 2: just sounds like him right. What it's got in it 268 00:13:18,040 --> 00:13:22,000 Speaker 2: tax cuts, it's got changes to medicaid, it's got defense, 269 00:13:22,200 --> 00:13:26,280 Speaker 2: it's got an immigration crackdown. It's got a million different 270 00:13:26,400 --> 00:13:31,400 Speaker 2: things all tied up into one bill. Elon Musk hates it, 271 00:13:31,679 --> 00:13:34,760 Speaker 2: hates it with an absolute passion. And because he isn't 272 00:13:34,800 --> 00:13:37,600 Speaker 2: running DOGE anymore, the Department of Government Efficiency, he is 273 00:13:37,640 --> 00:13:41,240 Speaker 2: basically able to say whatever he wants. And he is 274 00:13:41,360 --> 00:13:44,720 Speaker 2: doing that quite liberally, particularly when you have a platform 275 00:13:44,800 --> 00:13:48,520 Speaker 2: like X and he is just absolutely unloading. He called 276 00:13:48,559 --> 00:13:53,880 Speaker 2: it a disgusting abomination. He called it a massive, outrageous, 277 00:13:53,960 --> 00:13:58,079 Speaker 2: pork filled congressional spending bill. He has launched a campaign 278 00:13:58,160 --> 00:14:01,240 Speaker 2: called kill the bill. He says, call you a senator, 279 00:14:01,280 --> 00:14:05,160 Speaker 2: call you a congressman. Bankrupting America is not okay. What 280 00:14:05,200 --> 00:14:07,640 Speaker 2: we have at the moment, then, is Donald Trump basically 281 00:14:07,760 --> 00:14:12,120 Speaker 2: in a fight now against a very wealthy, very powerful 282 00:14:12,160 --> 00:14:15,640 Speaker 2: opponent who two weeks ago was his closest ally, which 283 00:14:15,679 --> 00:14:19,000 Speaker 2: is just an extraordinary turn of events. And when you 284 00:14:19,160 --> 00:14:22,640 Speaker 2: consider that independent analysis has found that it will add 285 00:14:22,680 --> 00:14:25,800 Speaker 2: between two point five and three point one trillion US 286 00:14:25,840 --> 00:14:29,320 Speaker 2: dollars in debt, that is ex hollant. 287 00:14:29,360 --> 00:14:31,840 Speaker 4: Hold on to the point of this the most remarkable story. 288 00:14:32,200 --> 00:14:35,520 Speaker 1: Please don't pull me up on a factual error, because 289 00:14:35,560 --> 00:14:36,360 Speaker 1: I can't. 290 00:14:36,080 --> 00:14:39,080 Speaker 6: Say you think it's remarkable that Elon mask and Donald 291 00:14:39,080 --> 00:14:40,080 Speaker 6: Trump have fallen out. 292 00:14:42,040 --> 00:14:43,880 Speaker 2: When you put it like that, it doesn't sound that 293 00:14:44,000 --> 00:14:46,440 Speaker 2: remarkable because we knew this was going to happen. 294 00:14:46,560 --> 00:14:47,760 Speaker 1: It's been brewing for what. 295 00:14:49,040 --> 00:14:52,360 Speaker 4: Six months whenever he was inaugurated twenty January. 296 00:14:52,480 --> 00:14:55,320 Speaker 2: Yeah, so it's been brewing since the nineteenth pretty much. 297 00:14:55,360 --> 00:14:57,400 Speaker 2: We've known this is going to happen. But the fact 298 00:14:57,400 --> 00:15:01,360 Speaker 2: that now this bill that spends an extraordinary amount of 299 00:15:01,360 --> 00:15:05,200 Speaker 2: money is being held up and suddenly the opposition to 300 00:15:05,280 --> 00:15:08,040 Speaker 2: it has been bolstered by the fact that Elon Musk, 301 00:15:08,120 --> 00:15:11,520 Speaker 2: with his billions of dollars and this massive, massive platform 302 00:15:11,560 --> 00:15:15,000 Speaker 2: to campaign against it suddenly is campaigning very very strongly. 303 00:15:15,280 --> 00:15:17,480 Speaker 4: So it is the remarkable part. 304 00:15:17,760 --> 00:15:20,560 Speaker 2: It is all remarkable, Sean. In fact, it's so remarkable. 305 00:15:20,600 --> 00:15:24,120 Speaker 2: I can't possibly quantify how remarkable it is. If I 306 00:15:24,160 --> 00:15:27,120 Speaker 2: had yes, if I had to mark that out of 307 00:15:27,160 --> 00:15:28,760 Speaker 2: ten out of twenty five. 308 00:15:28,880 --> 00:15:32,440 Speaker 1: I think that's a very safe twenty five. I will 309 00:15:32,480 --> 00:15:33,160 Speaker 1: not do that. 310 00:15:34,240 --> 00:15:37,520 Speaker 2: Absolutely, no Trump impression from me. Sorry, I was about 311 00:15:37,520 --> 00:15:39,160 Speaker 2: to go to Adam for the judgment, but I suppose 312 00:15:39,200 --> 00:15:40,520 Speaker 2: we should have an entry from Sean. 313 00:15:40,960 --> 00:15:41,320 Speaker 1: Please. 314 00:15:43,120 --> 00:15:46,560 Speaker 4: I'm sorry that you respond like it's hard enough to 315 00:15:46,560 --> 00:15:48,400 Speaker 4: work with Michael when you're in a studio with no 316 00:15:48,440 --> 00:15:50,640 Speaker 4: one else there. It's much much harder when you got 317 00:15:50,640 --> 00:15:53,680 Speaker 4: one hundred people in front of you. The most remarkable 318 00:15:53,720 --> 00:15:58,160 Speaker 4: story what's going on in politics in Australia at the moment. 319 00:15:58,240 --> 00:16:00,680 Speaker 6: Anyone here a member of Bradfield and Stanly is one 320 00:16:00,720 --> 00:16:05,320 Speaker 6: member of Bradfel two, three, four, ten members of Bradfel Right. 321 00:16:06,680 --> 00:16:10,680 Speaker 6: Nicolett Bowl the twol won the seat by twenty six 322 00:16:11,000 --> 00:16:16,600 Speaker 6: votes over Giselle Capterian, who is the Liberal candidate. That 323 00:16:16,880 --> 00:16:21,480 Speaker 6: is the closest election outcome ever. Pretty amazing. Then we 324 00:16:21,560 --> 00:16:26,200 Speaker 6: had Don Farrell talking to Ursula von Delane in Europe saying, hey, 325 00:16:26,280 --> 00:16:27,880 Speaker 6: we're the adults in the room. We know what he 326 00:16:28,040 --> 00:16:31,240 Speaker 6: was talking about. Let's do an FTA deal, free trade 327 00:16:31,280 --> 00:16:34,480 Speaker 6: agreement deal. They're talking about doing that. Then we had 328 00:16:34,880 --> 00:16:37,520 Speaker 6: Peter Hegxer, the Defense Secretary in the US, saying, Australia, 329 00:16:37,520 --> 00:16:38,960 Speaker 6: you've got to spend three and a half percent of 330 00:16:39,000 --> 00:16:43,040 Speaker 6: your GDP on defense. Well, we spend what two point 331 00:16:43,040 --> 00:16:46,640 Speaker 6: three thereabouts? And we had Anthony Albanezy coming out and saying, 332 00:16:46,640 --> 00:16:48,560 Speaker 6: you know, back in your box speak, go home, we 333 00:16:48,600 --> 00:16:49,520 Speaker 6: are not going to do that. 334 00:16:49,560 --> 00:16:50,480 Speaker 4: Good on you elbow. 335 00:16:51,160 --> 00:16:54,480 Speaker 6: And we also had, of course Durinda Cox, the Liberal 336 00:16:54,800 --> 00:17:00,520 Speaker 6: of the Greens senator to defecting to Labor. So Parliament 337 00:17:00,600 --> 00:17:02,640 Speaker 6: doesn't sit for four or five weeks, this is our 338 00:17:02,680 --> 00:17:03,400 Speaker 6: off season. 339 00:17:04,200 --> 00:17:06,440 Speaker 4: Yet we have all this stuff. 340 00:17:06,160 --> 00:17:11,200 Speaker 6: Going on, defections, trade, Bradfield vote, which is pretty remarkable 341 00:17:11,200 --> 00:17:11,520 Speaker 6: in the US. 342 00:17:11,680 --> 00:17:14,760 Speaker 4: In Australia, what to do? It is remarkable. What's going on? 343 00:17:16,760 --> 00:17:17,240 Speaker 1: Thank you? 344 00:17:17,560 --> 00:17:20,800 Speaker 2: That is a very valid point from the audience, and 345 00:17:21,200 --> 00:17:23,200 Speaker 2: a quick protest, if I may judge. 346 00:17:22,960 --> 00:17:23,679 Speaker 4: Then I hadn't finished. 347 00:17:24,040 --> 00:17:28,240 Speaker 2: Well, okay, go on, it's omnibus, thank you, thank you. 348 00:17:28,320 --> 00:17:31,000 Speaker 2: We have a very dedicated listener. The problem with this 349 00:17:31,160 --> 00:17:37,800 Speaker 2: is no, there is It's unknown to me. What we 350 00:17:37,920 --> 00:17:41,280 Speaker 2: have here is an omnibus story where multiple stories have 351 00:17:41,400 --> 00:17:45,680 Speaker 2: been combined into one, which is judge an illegal move 352 00:17:46,080 --> 00:17:48,399 Speaker 2: and he must I was about to call for you 353 00:17:48,800 --> 00:17:51,480 Speaker 2: to be fully disqualified, which would make it very dark. 354 00:17:51,520 --> 00:17:55,040 Speaker 4: We got no chance tonight. I really disqualification might actually be. 355 00:18:00,520 --> 00:18:01,320 Speaker 1: Used by the. 356 00:18:01,240 --> 00:18:07,280 Speaker 3: Crowd, right, is it my turn? Yeah? 357 00:18:07,359 --> 00:18:08,399 Speaker 4: Dansky? 358 00:18:08,560 --> 00:18:09,560 Speaker 3: Okay, So. 359 00:18:11,359 --> 00:18:15,120 Speaker 5: Michael, you two had an omnibus in the last one 360 00:18:15,280 --> 00:18:18,320 Speaker 5: with economic efficiency per capita GDP and wage rights. 361 00:18:18,760 --> 00:18:19,640 Speaker 1: That wasn't his entry. 362 00:18:19,760 --> 00:18:22,680 Speaker 4: That wasn't entry. The last that wasn't entry. 363 00:18:22,880 --> 00:18:23,240 Speaker 3: Last one. 364 00:18:23,240 --> 00:18:25,440 Speaker 4: But no, no, that wasn't his entry. Fair Work Commission was 365 00:18:25,480 --> 00:18:26,760 Speaker 4: his entry. 366 00:18:27,160 --> 00:18:27,840 Speaker 3: The way tries. 367 00:18:28,240 --> 00:18:33,560 Speaker 5: So in terms of the remarkable element, ninety four seats 368 00:18:33,600 --> 00:18:36,360 Speaker 5: to labor in the Federal Parliament, now that. 369 00:18:36,440 --> 00:18:37,960 Speaker 4: Is in cred in the votes. 370 00:18:38,480 --> 00:18:41,439 Speaker 5: But I think on the scale the Elon versus Donald 371 00:18:41,480 --> 00:18:43,520 Speaker 5: and the spectacular, we didn't know it was coming, but 372 00:18:43,640 --> 00:18:45,520 Speaker 5: to watch this implosion. 373 00:18:45,680 --> 00:18:47,360 Speaker 3: Is absolutely spectator. 374 00:18:49,359 --> 00:18:52,880 Speaker 5: So Michael, Michael Woods, well. 375 00:18:52,880 --> 00:18:55,000 Speaker 4: I'm just happy that there's not quite as many cheers 376 00:18:55,000 --> 00:18:58,879 Speaker 4: that time as the first time round. The sympathy is shifting. 377 00:18:58,960 --> 00:19:01,159 Speaker 4: I can fail it. We've got the heckler down the 378 00:19:01,240 --> 00:19:02,919 Speaker 4: end there and people are saying, no, that's a bit, 379 00:19:03,280 --> 00:19:08,240 Speaker 4: sure's not that much of a decka. It's shifting. 380 00:19:08,640 --> 00:19:11,280 Speaker 2: Did you hear the judgment was actually booed just then? 381 00:19:12,440 --> 00:19:16,240 Speaker 2: So it wasn't that nice to hear Adam in the studio? 382 00:19:16,359 --> 00:19:17,560 Speaker 2: This is very nice? 383 00:19:18,240 --> 00:19:20,120 Speaker 1: Okay, so that's did you have any more time? 384 00:19:20,440 --> 00:19:20,600 Speaker 5: No? 385 00:19:20,840 --> 00:19:21,760 Speaker 4: Zero two? 386 00:19:22,359 --> 00:19:22,560 Speaker 3: Yeah? 387 00:19:22,640 --> 00:19:23,160 Speaker 1: Too nil. 388 00:19:23,520 --> 00:19:25,119 Speaker 3: It's actually unprecedented. 389 00:19:25,280 --> 00:19:28,520 Speaker 2: I have never led too nil into halftime, and I'm 390 00:19:28,520 --> 00:19:31,240 Speaker 2: sure this is a completely objective decision, and not because 391 00:19:31,280 --> 00:19:32,560 Speaker 2: there is a crowd of people. 392 00:19:32,280 --> 00:19:34,440 Speaker 3: Who I have the fine cotton affair. 393 00:19:35,440 --> 00:19:37,880 Speaker 2: All right, Okay, we will take a very quick break 394 00:19:37,880 --> 00:19:41,160 Speaker 2: and we'll come back with our mystery category of the week. 395 00:19:48,960 --> 00:19:52,199 Speaker 2: All right, Sean, I am leading to nil, just to 396 00:19:52,280 --> 00:19:55,120 Speaker 2: recap where we're up to with the score. We are 397 00:19:55,280 --> 00:19:58,720 Speaker 2: here at Business Sydney with a very impartial live crowd, 398 00:19:58,720 --> 00:20:01,080 Speaker 2: which is actually really nice to see the fact that 399 00:20:01,160 --> 00:20:02,959 Speaker 2: I have said for so long that I am the 400 00:20:02,960 --> 00:20:03,679 Speaker 2: man of the people. 401 00:20:04,080 --> 00:20:07,840 Speaker 1: Tonight vindication because I've never been able. 402 00:20:07,680 --> 00:20:10,439 Speaker 2: To provide proof of that, but now there are people 403 00:20:10,520 --> 00:20:13,560 Speaker 2: cheering for me. This is going to my head. This 404 00:20:13,600 --> 00:20:17,760 Speaker 2: is quite extraordinary. It is too nil. All right, big 405 00:20:17,800 --> 00:20:20,040 Speaker 2: deep breath, squirrel, let's do this. 406 00:20:20,720 --> 00:20:21,720 Speaker 1: We are. 407 00:20:23,600 --> 00:20:26,959 Speaker 2: Now onto our mystery category. So the mystery category changes 408 00:20:26,960 --> 00:20:28,560 Speaker 2: every week and we do this to keep out him 409 00:20:28,600 --> 00:20:30,800 Speaker 2: on his toes. He doesn't know what the category is 410 00:20:30,840 --> 00:20:34,679 Speaker 2: going to be. And so the category this week is 411 00:20:34,960 --> 00:20:39,719 Speaker 2: very mysterious. Well, actually that's for a mystery category. That's 412 00:20:39,720 --> 00:20:44,960 Speaker 2: probably self evident. The category is dead Companies coming back 413 00:20:45,000 --> 00:20:46,680 Speaker 2: to Life, which. 414 00:20:47,000 --> 00:20:48,520 Speaker 1: Yeah, very very exotic. 415 00:20:48,600 --> 00:20:49,360 Speaker 4: We're almost deep. 416 00:20:49,680 --> 00:20:52,560 Speaker 1: Yeah, yeah, it's an exaggeration. It's fine. 417 00:20:53,000 --> 00:20:55,320 Speaker 2: We're also here to celebrate fiction, so we can kind 418 00:20:55,320 --> 00:20:56,240 Speaker 2: of embellish things. 419 00:20:56,400 --> 00:21:05,280 Speaker 7: So over a year, okay, okay, Virgin Australia, Yes, do 420 00:21:05,320 --> 00:21:10,240 Speaker 7: you just cheer Virgin Australia R Yeah. Go competition double 421 00:21:10,280 --> 00:21:14,719 Speaker 7: status credits because you're probably like me, an aviation enthusiast, 422 00:21:15,000 --> 00:21:17,480 Speaker 7: because you know how you pick an aviation enthusiast, Like 423 00:21:17,480 --> 00:21:19,400 Speaker 7: a plane goes over and you just watch to see 424 00:21:19,400 --> 00:21:20,520 Speaker 7: who pulls out their phone to. 425 00:21:20,520 --> 00:21:23,000 Speaker 1: Check flight radar? Right, there are more of us? Are 426 00:21:23,040 --> 00:21:27,280 Speaker 1: there any other plane enthusiasts in the crowd? Oh my god, yes. 427 00:21:27,520 --> 00:21:28,240 Speaker 4: How there's four? 428 00:21:28,640 --> 00:21:31,440 Speaker 1: Yeah, really cool. That's pretty good for us how many 429 00:21:31,440 --> 00:21:36,199 Speaker 1: people got a mortgage? Don stop asking that. 430 00:21:36,840 --> 00:21:40,199 Speaker 2: Okay, Virgin Australia, this one is very brief because we 431 00:21:40,240 --> 00:21:43,399 Speaker 2: are in fact running out of time. Virgin Australia is back, 432 00:21:43,440 --> 00:21:44,880 Speaker 2: and it is back in a big way. 433 00:21:44,920 --> 00:21:48,520 Speaker 4: So we sometimes we actually do measurements of how much 434 00:21:48,600 --> 00:21:51,200 Speaker 4: time in the thirty minutes we're spoken by Adam is 435 00:21:51,240 --> 00:21:55,320 Speaker 4: it like three percent? Me? I'm probably twenty five percent 436 00:21:56,000 --> 00:21:57,600 Speaker 4: the rest Michael Thompson. 437 00:21:58,720 --> 00:22:02,400 Speaker 2: Yeah, Well, to be fair, every week I then say 438 00:22:02,520 --> 00:22:04,320 Speaker 2: this is going to be the week when I'm just 439 00:22:04,840 --> 00:22:07,919 Speaker 2: I keep it tight, and I'm yet to actually achieve 440 00:22:07,960 --> 00:22:11,520 Speaker 2: that this could be. It unlikely considering we're in now 441 00:22:11,560 --> 00:22:14,320 Speaker 2: twenty three minutes in Virgin Australia back. 442 00:22:14,440 --> 00:22:16,400 Speaker 1: It is set to list on the ASX. 443 00:22:17,119 --> 00:22:19,680 Speaker 2: Total value of Virgin estimated to be around two point 444 00:22:19,840 --> 00:22:23,520 Speaker 2: three billion dollars. This is an airline that went into 445 00:22:23,560 --> 00:22:25,840 Speaker 2: administration just a few years ago in the middle of 446 00:22:25,840 --> 00:22:29,800 Speaker 2: the pandemic. What a spectacular recovery, a revival. It has 447 00:22:29,840 --> 00:22:34,880 Speaker 2: been brought back to life. Baine Capital bought Virgin out 448 00:22:34,880 --> 00:22:39,119 Speaker 2: of administration last year. Qatar Airways bought a very significant 449 00:22:39,160 --> 00:22:42,879 Speaker 2: what was it twenty five percent steak thereabouts once floated. 450 00:22:42,920 --> 00:22:46,560 Speaker 2: Bain's going to own about what forty percent Qatar that quarter. 451 00:22:46,880 --> 00:22:49,359 Speaker 2: Steak Management is going to have about eight percent. The 452 00:22:49,400 --> 00:22:54,000 Speaker 2: rest of them new shareholders, new lifeblood for this once 453 00:22:54,320 --> 00:22:57,439 Speaker 2: dead company. It's probably a bit extreme. Actually it was 454 00:22:57,480 --> 00:23:00,640 Speaker 2: still there, it was still flying. Got to say, this is, 455 00:23:00,720 --> 00:23:06,840 Speaker 2: in my opinion, the most exciting listing since GUZMANI Gomez 456 00:23:07,040 --> 00:23:09,639 Speaker 2: last year. It is very exciting, and I can tell 457 00:23:09,680 --> 00:23:11,120 Speaker 2: by the faces in the room. 458 00:23:11,200 --> 00:23:13,240 Speaker 1: That you were just as excited about this. 459 00:23:13,440 --> 00:23:15,760 Speaker 2: And even I'm going to get on board just because 460 00:23:15,800 --> 00:23:18,920 Speaker 2: I'm so excited about planes. And that's why you should 461 00:23:18,920 --> 00:23:22,040 Speaker 2: never take investment advice from me. Because I'm excited about planes. 462 00:23:22,080 --> 00:23:24,439 Speaker 2: Therefore I'm going to buy it. That is why I 463 00:23:24,480 --> 00:23:26,960 Speaker 2: bought Abaloni because I was excited about that and that 464 00:23:27,000 --> 00:23:31,240 Speaker 2: performed spectacularly badly. So yes, it is great for the 465 00:23:31,280 --> 00:23:35,760 Speaker 2: AXE to see Virgin coming back. You've had a whole 466 00:23:35,760 --> 00:23:39,080 Speaker 2: lot of companies delisting for one reason or another, which 467 00:23:39,160 --> 00:23:42,560 Speaker 2: always it's good to see the AX getting bigger rather 468 00:23:42,600 --> 00:23:45,640 Speaker 2: than shrinking. It's just nicest. It's a feel good story. 469 00:23:46,040 --> 00:23:49,240 Speaker 2: It is a really genuine feel good story. Virgin Australia 470 00:23:49,359 --> 00:23:54,000 Speaker 2: back to life through it is like, you've lost the crowd. 471 00:23:55,000 --> 00:23:59,240 Speaker 2: Even I actually lost myself about fifteen seconds ago. I'm like, 472 00:23:59,320 --> 00:24:00,919 Speaker 2: I don't think I'm interested in this anymore. 473 00:24:01,400 --> 00:24:04,640 Speaker 6: They're finding again, it's great, fantastic what double something points? 474 00:24:05,680 --> 00:24:10,320 Speaker 4: Never take a pig doubles? Yeah whatever, Yeah, you can have. 475 00:24:10,359 --> 00:24:12,439 Speaker 6: I want to talk about something exciting coming back from 476 00:24:12,480 --> 00:24:14,480 Speaker 6: the dead, although I wouldn't use it in reference to 477 00:24:14,600 --> 00:24:17,520 Speaker 6: uranium stocks, but we are going to uranium stocks that 478 00:24:17,560 --> 00:24:21,000 Speaker 6: they are on fire over the last five years. 479 00:24:21,359 --> 00:24:24,400 Speaker 1: Wouldn't say that either. It seems seems high risks. 480 00:24:24,240 --> 00:24:27,800 Speaker 4: Excellent points. Alright, alright, what would you say? How do 481 00:24:27,880 --> 00:24:34,080 Speaker 4: you describe uranium stocks melting down, melting radiating? Anyway, let's 482 00:24:34,119 --> 00:24:37,080 Speaker 4: okay there, DBLA have the last five years twenty cents 483 00:24:37,119 --> 00:24:39,760 Speaker 4: to a dollar, thirty five, Paladin a buck to six bucks, 484 00:24:39,800 --> 00:24:44,280 Speaker 4: forty five, Boss Energy six cents to more than four dollars. 485 00:24:44,359 --> 00:24:44,879 Speaker 4: Why is that? 486 00:24:45,280 --> 00:24:49,359 Speaker 6: Because all the big tech companies need power. This week, 487 00:24:49,480 --> 00:24:52,800 Speaker 6: Meta did a deal with the crowd who used to 488 00:24:52,880 --> 00:24:55,880 Speaker 6: have three Mile Island in Pennsylvania, which had a disaster 489 00:24:55,920 --> 00:24:59,360 Speaker 6: in nineteen seventy nine. Constellations out crowd. Meta's done a deal. 490 00:24:59,480 --> 00:25:03,040 Speaker 6: Microsoft done a deal Alphabet's done a deal. There's another 491 00:25:03,080 --> 00:25:03,840 Speaker 6: one that's done a deal. 492 00:25:03,960 --> 00:25:04,160 Speaker 4: Right. 493 00:25:04,440 --> 00:25:07,320 Speaker 6: It's because they all need power for AI and data centers, 494 00:25:07,480 --> 00:25:10,960 Speaker 6: and they are all hoping for net zero emissions in 495 00:25:11,000 --> 00:25:12,399 Speaker 6: the next ten or twenty years. 496 00:25:12,520 --> 00:25:15,840 Speaker 4: So they need nuclear. So the nuclear stocks are back. 497 00:25:16,040 --> 00:25:18,800 Speaker 4: These are a group of companies no one wanted a 498 00:25:18,840 --> 00:25:23,720 Speaker 4: bar of Ah, there you go, bar uranium five years ago. 499 00:25:24,240 --> 00:25:25,560 Speaker 4: They're back at Dansky. 500 00:25:26,119 --> 00:25:27,919 Speaker 3: Yeah, you win, Sean, that was easy. 501 00:25:31,080 --> 00:25:34,439 Speaker 2: Hang, I'm sorry you're cheering. You know, they said Sean wins. 502 00:25:34,680 --> 00:25:38,879 Speaker 2: This is not right, it is Sean. 503 00:25:39,320 --> 00:25:39,560 Speaker 3: Yeah. 504 00:25:39,640 --> 00:25:43,800 Speaker 5: Look, obviously it's so much, so much AI, so much 505 00:25:43,920 --> 00:25:48,040 Speaker 5: energy consumption, so much. It's not it's going to keep going, right, 506 00:25:48,080 --> 00:25:50,960 Speaker 5: It's irrefutable how much demand for power is going to 507 00:25:51,000 --> 00:25:53,720 Speaker 5: keep going. We do not yet have the energy solutions 508 00:25:53,760 --> 00:25:55,760 Speaker 5: to provide for it. And uranium coming back, I think 509 00:25:55,880 --> 00:25:57,800 Speaker 5: is totally legitimate and really good. 510 00:25:57,800 --> 00:25:59,280 Speaker 3: Frustrated, so fantastic. 511 00:25:59,359 --> 00:26:01,440 Speaker 4: You sound like a former leader of the Little Party. 512 00:26:06,080 --> 00:26:08,280 Speaker 4: I think the great thing about Adam's judgment is often 513 00:26:08,320 --> 00:26:10,680 Speaker 4: it's got nothing to do with anything that Michael or 514 00:26:10,720 --> 00:26:13,360 Speaker 4: I have said, and he actually makes the story far 515 00:26:13,480 --> 00:26:16,959 Speaker 4: better than it actually was, So I appreciate it. I 516 00:26:17,080 --> 00:26:19,200 Speaker 4: saw the final category. 517 00:26:19,040 --> 00:26:22,440 Speaker 2: So this is our favorite story of the week. And 518 00:26:22,440 --> 00:26:26,000 Speaker 2: what I can see happening here is that the victory 519 00:26:26,040 --> 00:26:29,119 Speaker 2: that I was very confident about is just slipping away 520 00:26:29,160 --> 00:26:32,359 Speaker 2: from me. Michael, I know what I'm going to do 521 00:26:32,400 --> 00:26:38,080 Speaker 2: for my favorite story, and I'm sure yes, but keep 522 00:26:38,119 --> 00:26:41,720 Speaker 2: it to yourself, Okay, Sean, you go first. 523 00:26:41,960 --> 00:26:42,840 Speaker 4: My favorite story. 524 00:26:42,920 --> 00:26:45,200 Speaker 6: So how many people here invest in some way or 525 00:26:45,280 --> 00:26:49,280 Speaker 6: other by their super fun perhaps how many every single 526 00:26:49,320 --> 00:26:51,960 Speaker 6: one of us? This is for you right the ASX 527 00:26:52,119 --> 00:26:54,200 Speaker 6: is back. We had a couple of really big deals 528 00:26:54,200 --> 00:26:56,880 Speaker 6: this week. We had Soul Paths and Brick Works merging 529 00:26:56,920 --> 00:27:00,560 Speaker 6: after years and years. Soul Pats It opened a pharmacy 530 00:27:00,680 --> 00:27:04,080 Speaker 6: in Pitt Street and Sydney in eighteen seventy six and 531 00:27:04,119 --> 00:27:05,720 Speaker 6: has been operating ever since. 532 00:27:05,920 --> 00:27:07,600 Speaker 4: Brick Works, Michael, what do they do? 533 00:27:08,480 --> 00:27:09,240 Speaker 1: They make bricks? 534 00:27:09,240 --> 00:27:12,440 Speaker 4: Sean, very much ostral bricks that's been going for sixty years. 535 00:27:12,520 --> 00:27:16,399 Speaker 4: They merged. They've got kind of cross shareholdings. That was good. 536 00:27:16,560 --> 00:27:19,439 Speaker 6: We had the Virgin deal, which Michael's already spoken about, 537 00:27:20,040 --> 00:27:25,639 Speaker 6: and who here owns Commonwelf Bank shares one hundred and 538 00:27:25,680 --> 00:27:27,920 Speaker 6: eighty one hundred and eighty two bucks of shares three 539 00:27:28,040 --> 00:27:32,080 Speaker 6: hundred billion dollars that company. If you add the market 540 00:27:32,200 --> 00:27:36,400 Speaker 6: value of National Australia Bank, Westpac and Ains together, there's 541 00:27:36,400 --> 00:27:37,280 Speaker 6: three twenty billion. 542 00:27:37,400 --> 00:27:41,120 Speaker 4: Commonwealth Bank is three hundred billion. What an incredible company. 543 00:27:41,520 --> 00:27:44,440 Speaker 6: Did you know it is about the same size now, 544 00:27:44,440 --> 00:27:47,920 Speaker 6: Commonwealth Bank as uber PepsiCo McDonald's. 545 00:27:49,320 --> 00:27:54,760 Speaker 4: What else, Michael Disney Disney, Yes, what an incredible story. 546 00:27:54,880 --> 00:27:56,919 Speaker 4: So my favorite story of the week is a return 547 00:27:56,960 --> 00:28:01,720 Speaker 4: of the ASEX soul pats and brickworks virgin in Comwell Bank. 548 00:28:02,800 --> 00:28:04,600 Speaker 4: Michael take his Home. 549 00:28:06,240 --> 00:28:07,520 Speaker 1: For a Business podcast. 550 00:28:08,040 --> 00:28:11,680 Speaker 2: It is very, very hard to beat a story about 551 00:28:11,720 --> 00:28:17,240 Speaker 2: the success of the ASX. Fortunately, a truckload of bees 552 00:28:17,440 --> 00:28:22,600 Speaker 2: crashed in the United States. The driver was okay, we'll 553 00:28:22,640 --> 00:28:24,520 Speaker 2: get that out of the way up front. He was fine, 554 00:28:24,560 --> 00:28:25,639 Speaker 2: so we can talk about this. 555 00:28:26,200 --> 00:28:27,520 Speaker 4: So was a driver okay? 556 00:28:28,280 --> 00:28:30,640 Speaker 6: I said that, And then afterwards I thought to myself, 557 00:28:31,040 --> 00:28:32,119 Speaker 6: I'm actually didn't check that. 558 00:28:33,119 --> 00:28:35,240 Speaker 1: You know what he was? He absolutely was, Yes, he 559 00:28:35,280 --> 00:28:35,600 Speaker 1: has been. 560 00:28:35,840 --> 00:28:37,760 Speaker 2: Yeah, And I've got a lot of notes spent independently 561 00:28:37,800 --> 00:28:40,160 Speaker 2: confirmed by the audience that the driver was okay, So 562 00:28:40,200 --> 00:28:43,160 Speaker 2: we can we can settle that. Okay, background to this 563 00:28:43,480 --> 00:28:49,120 Speaker 2: millions of bees right on this truck. The truck turned over. 564 00:28:49,240 --> 00:28:54,200 Speaker 2: This was in Washington State in the US. Bees escaped, 565 00:28:54,720 --> 00:28:58,360 Speaker 2: lots of warnings from officials and authorities to avoid the 566 00:28:58,400 --> 00:29:02,400 Speaker 2: area as you would the county sheriff right, get this, 567 00:29:02,400 --> 00:29:04,600 Speaker 2: this is my favorite part of the story. The county 568 00:29:04,600 --> 00:29:08,960 Speaker 2: sheriff initially said there were two hundred and fifty million 569 00:29:09,160 --> 00:29:13,560 Speaker 2: bees on the loose from this. They then downgraded that 570 00:29:13,600 --> 00:29:17,040 Speaker 2: to fourteen million bees. So I want to know how 571 00:29:17,080 --> 00:29:19,200 Speaker 2: they got the two hundred and fifty million figure in 572 00:29:19,200 --> 00:29:22,960 Speaker 2: the first place. Was it just someone counting It's like, okay, one, two, 573 00:29:22,960 --> 00:29:25,360 Speaker 2: three for two hundred and fifty million, And then he 574 00:29:25,400 --> 00:29:28,560 Speaker 2: actually assessed it and realized that, no, there are significantly 575 00:29:28,600 --> 00:29:33,760 Speaker 2: fewer bees on there. Thirty two thousand kilograms of active 576 00:29:33,880 --> 00:29:37,440 Speaker 2: honeybee hives were being transported when this flipped over with 577 00:29:37,480 --> 00:29:41,320 Speaker 2: their fourteen million bees in them. They had to bring 578 00:29:41,480 --> 00:29:46,440 Speaker 2: in master bee keepers to recapture these. And if it 579 00:29:46,520 --> 00:29:49,360 Speaker 2: is a cool job, and if anyone knows beekeeping, that 580 00:29:49,480 --> 00:29:56,200 Speaker 2: is a hard industry to earn your stripes, Yes, thank you, 581 00:29:56,720 --> 00:29:59,640 Speaker 2: thank you. And because and you know why, they probably 582 00:29:59,640 --> 00:30:01,880 Speaker 2: thought two hundred and fifty million bees because it was 583 00:30:01,920 --> 00:30:04,440 Speaker 2: a particularly big truck. If anyone knows trucks, it was 584 00:30:04,560 --> 00:30:06,080 Speaker 2: likely to be a bee double. 585 00:30:07,800 --> 00:30:11,120 Speaker 1: Yes, another good one. All right, it's not a truck crowd. Okay, 586 00:30:11,120 --> 00:30:12,040 Speaker 1: that's fine, Like. 587 00:30:12,480 --> 00:30:15,040 Speaker 4: The real the family and friends are laughing and the 588 00:30:15,040 --> 00:30:16,240 Speaker 4: rest are going, oh. 589 00:30:16,080 --> 00:30:20,760 Speaker 2: No, the real God, I'm standing the real tragedy. The 590 00:30:20,800 --> 00:30:25,440 Speaker 2: real tragedy, sean of this story was where the bees 591 00:30:25,760 --> 00:30:26,440 Speaker 2: were going? 592 00:30:27,720 --> 00:30:29,320 Speaker 3: Do tell us? 593 00:30:30,000 --> 00:30:34,560 Speaker 2: I wasn't able to confirm this independently, verify this before 594 00:30:34,600 --> 00:30:37,400 Speaker 2: I walked in. But I have it on good authority 595 00:30:37,400 --> 00:30:40,160 Speaker 2: that that driver was, in fact taking those bees to 596 00:30:40,280 --> 00:30:44,320 Speaker 2: their very first concert. 597 00:30:45,120 --> 00:30:47,320 Speaker 1: They were going to see. 598 00:30:47,040 --> 00:30:51,640 Speaker 2: Sting Thank You, or Beyonce or the Beegs or the 599 00:30:51,680 --> 00:30:53,400 Speaker 2: Beach Boy, take your pick. 600 00:30:53,440 --> 00:30:54,960 Speaker 1: There are limitless options. 601 00:30:55,160 --> 00:30:58,920 Speaker 2: Two hundred and fifty million bees downgraded to fourteen million bees. 602 00:30:58,880 --> 00:31:02,560 Speaker 6: Who don't know Michael spent a career in talkback radio 603 00:31:02,640 --> 00:31:03,480 Speaker 6: with Ray Hadley. 604 00:31:03,960 --> 00:31:06,760 Speaker 4: What a surprise, Eh the puns? 605 00:31:07,280 --> 00:31:08,360 Speaker 1: Oh. 606 00:31:08,560 --> 00:31:10,760 Speaker 2: As I was walking down the street today, I was 607 00:31:10,840 --> 00:31:13,320 Speaker 2: just thinking about b puns and I was laughing out 608 00:31:13,360 --> 00:31:16,920 Speaker 2: loud to myself, addressing myself a squirrel at the time. 609 00:31:17,240 --> 00:31:18,520 Speaker 1: Someone walking towards me. 610 00:31:18,600 --> 00:31:21,080 Speaker 2: They looked at me, and I'm like, eh, as though 611 00:31:21,120 --> 00:31:22,960 Speaker 2: they were privy to what was going on in my 612 00:31:23,000 --> 00:31:25,880 Speaker 2: head at the time, and they actually, I kid you, 613 00:31:25,920 --> 00:31:29,760 Speaker 2: not walked around me at the time. They gave me 614 00:31:29,880 --> 00:31:33,240 Speaker 2: a literal wide berth on the street because I was 615 00:31:33,280 --> 00:31:34,520 Speaker 2: laughing at my own puns. 616 00:31:34,960 --> 00:31:35,320 Speaker 1: Sting. 617 00:31:35,680 --> 00:31:37,680 Speaker 2: Yes, they were going to see sting. It has now 618 00:31:37,760 --> 00:31:40,760 Speaker 2: been independently confirmed Bees for the wind. 619 00:31:45,280 --> 00:31:47,840 Speaker 5: Okay, look, it's really been a game of two halves. 620 00:31:48,160 --> 00:31:49,520 Speaker 5: It's quite a convincing wind. 621 00:31:49,520 --> 00:31:58,760 Speaker 2: To Sean, this is where I guess exciting because now 622 00:31:58,800 --> 00:32:00,920 Speaker 2: we go to the points, right, because it's too all 623 00:32:01,320 --> 00:32:04,200 Speaker 2: and you allocate, you mark each category out of twenty 624 00:32:04,240 --> 00:32:04,920 Speaker 2: five as you go. 625 00:32:05,320 --> 00:32:09,040 Speaker 4: Yes, it's like a great story gets twenty three and 626 00:32:09,120 --> 00:32:12,160 Speaker 4: a dreadful story gets twenty two. Yeah. 627 00:32:12,360 --> 00:32:14,720 Speaker 3: Yeah, it's all these high quality battles. 628 00:32:15,080 --> 00:32:17,200 Speaker 1: This could go either way here, all. 629 00:32:17,160 --> 00:32:18,880 Speaker 5: Right, So it's a dead heat on the score account. 630 00:32:20,240 --> 00:32:22,040 Speaker 5: Sean ninety three points. 631 00:32:22,320 --> 00:32:25,920 Speaker 4: Never good. When he says your name first, Michael ninety. 632 00:32:25,600 --> 00:32:30,040 Speaker 3: Three points, it's a draw. 633 00:32:30,240 --> 00:32:31,600 Speaker 4: We need a tiebreaker on that. 634 00:32:32,880 --> 00:32:36,040 Speaker 1: We've never we've never had a tie, Bren. 635 00:32:36,320 --> 00:32:37,240 Speaker 3: Then Michael wins. 636 00:32:37,640 --> 00:32:40,680 Speaker 4: No, no no, no, no, no, no, no no. 637 00:32:40,200 --> 00:32:44,120 Speaker 2: No, Yes, we are going to put this to a vote. 638 00:32:44,600 --> 00:32:47,680 Speaker 2: I have had a bad history with democracy going against me. 639 00:32:48,720 --> 00:32:51,280 Speaker 2: I once set up a students union when I was 640 00:32:51,320 --> 00:32:54,400 Speaker 2: in high school and got a lot of people turned out. 641 00:32:54,400 --> 00:32:56,560 Speaker 2: It's about forty odd people turned up to the first 642 00:32:56,600 --> 00:32:59,480 Speaker 2: meeting of the Independent Students Union. And then and I 643 00:32:59,480 --> 00:33:01,320 Speaker 2: sat up the it was all going well, and then 644 00:33:01,360 --> 00:33:04,440 Speaker 2: I heard these murmurings in the crowd of people saying, 645 00:33:04,960 --> 00:33:07,719 Speaker 2: we need a constitution, we need to have elections. And 646 00:33:07,760 --> 00:33:09,880 Speaker 2: I could see where that was going, and I did 647 00:33:09,880 --> 00:33:13,080 Speaker 2: not like the sound of it. I disbanded the entire union, 648 00:33:13,160 --> 00:33:16,040 Speaker 2: and nobody ever met again. Democracy does not always go 649 00:33:16,120 --> 00:33:19,080 Speaker 2: in my favor. Let's put it to a vote, my 650 00:33:19,200 --> 00:33:20,200 Speaker 2: popular acclaim. 651 00:33:20,320 --> 00:33:23,840 Speaker 5: Yes, all right, so jeez, there's a lot of family 652 00:33:23,840 --> 00:33:24,800 Speaker 5: on both sides. 653 00:33:26,120 --> 00:33:26,440 Speaker 4: All right. 654 00:33:26,920 --> 00:33:31,280 Speaker 5: To those who think Michael like really one on economic impact, 655 00:33:31,840 --> 00:33:33,120 Speaker 5: please she loud. 656 00:33:36,600 --> 00:33:40,200 Speaker 2: On melodrama, melodrama, judge me not on. 657 00:33:40,280 --> 00:33:43,160 Speaker 3: Economic impact, okay. 658 00:33:43,440 --> 00:33:47,800 Speaker 5: And those who think on economic impact, Sean Alma wins. 659 00:33:53,480 --> 00:33:54,160 Speaker 3: Sean has it. 660 00:33:56,000 --> 00:33:56,640 Speaker 1: Sean has it. 661 00:33:56,960 --> 00:34:01,280 Speaker 6: He's also got four kids, most of them well played, gentlemen, 662 00:34:01,880 --> 00:34:02,640 Speaker 6: thank you very much. 663 00:34:03,520 --> 00:34:07,000 Speaker 2: Was it well played? This is a travesty and I 664 00:34:07,120 --> 00:34:10,839 Speaker 2: demanded an inquiry. But I will recount I will begrudgingly 665 00:34:10,880 --> 00:34:17,719 Speaker 2: accept the decision. Congratulations Sean, thank you, thank you, thank you, 666 00:34:17,719 --> 00:34:18,320 Speaker 2: thank you, thank. 667 00:34:18,160 --> 00:34:20,920 Speaker 3: You, thank you, thank you, Adam, thank you, Michael, thank you. 668 00:34:20,960 --> 00:34:22,880 Speaker 4: Sure, thanks Adam. 669 00:34:22,920 --> 00:34:25,279 Speaker 1: This is a no, no, no, don't don't clap. Don't 670 00:34:25,320 --> 00:34:25,799 Speaker 1: clap yet. 671 00:34:26,600 --> 00:34:28,920 Speaker 2: It feels like this should actually be a period of morning. 672 00:34:29,280 --> 00:34:30,719 Speaker 2: Everyone expected me to win. 673 00:34:30,880 --> 00:34:31,239 Speaker 3: Just now. 674 00:34:31,560 --> 00:34:34,439 Speaker 2: This is an absolute travesty. Thank you everyone for coming 675 00:34:34,440 --> 00:34:36,400 Speaker 2: along this evening. Don't go anywere ext We're doing the 676 00:34:36,400 --> 00:34:40,040 Speaker 2: book stuff next. But thank you very much for coming along, 677 00:34:40,080 --> 00:34:42,879 Speaker 2: for cheering, not necessarily for supporting me, because not enough 678 00:34:42,880 --> 00:34:46,279 Speaker 2: to support me in the end, but thank you, thank 679 00:34:46,320 --> 00:34:50,680 Speaker 2: you for following the podcast, join us online, LinkedIn, Instagram, TikTok, Facebook, 680 00:34:50,719 --> 00:34:51,880 Speaker 2: and ex Michael Thompson. 681 00:34:51,880 --> 00:34:53,920 Speaker 1: And that was the Beer and Greed Business News. Have 682 00:34:54,000 --> 00:34:54,720 Speaker 1: a great weekend.