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

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Speaker 1: business news for people who make their own decisions. I'm

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Speaker 1: Michael Thompson and good morning, Sean Aylmer.

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Speaker 2: Good morning, Michael Sewan.

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

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

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Speaker 1: of the week, the most remarkable business story, a sleeper story,

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Speaker 1: one that's not getting the attention that we feel that

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Speaker 1: it deserves, and then our favorite business adjacent story. It is,

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Speaker 1: of course a competition. The weekday show is very friendly,

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Speaker 1: the weekend show not so much so. We are joined

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Speaker 1: by a judge to keep everything nice and safe and

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Speaker 1: calm and friendly in the studio. And that judge is

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Speaker 1: our Fear and Greed colleague, Adam Lang Adam, Good morning.

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Speaker 3: Good morning Michael.

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Speaker 1: Now, Adam, before we jump into this, can I get

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Speaker 1: you to give us a very quick run through of

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Speaker 1: the criteria that you are likely to just disregard as

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Speaker 1: you go.

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Speaker 3: Okay, I am looking for topicality, Michael, in addition to timeliness,

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Speaker 3: economic impact, subjective bias that's mine, of course, and a

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Speaker 3: little touch of melodrama if you don't mind.

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Speaker 2: Oh, Adam, get some Olympics into this. I mean, I'm

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Speaker 2: just looking at my phone here and looking at the

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Speaker 2: results from overnight, which not much because ceremony was overnight,

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Speaker 2: but there is. Well, we've had the rugby sevens and

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Speaker 2: the Matildas have played. What's your favorite Olympics sport?

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Speaker 3: Oh gosh, okay, so I've got really fund memories of

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Speaker 3: the games. Royal HG hosting the television show around the

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Speaker 3: two thousand Olympics and the gymnastics. Their commentary on the

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Speaker 3: gymnastics was particularly specially.

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Speaker 2: Downward dog was something special for all of us gymnastics

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Speaker 2: for you, Michael, Ah.

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Speaker 1: Look, I probably like I do enjoy the swimming, but

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Speaker 1: that's only because I like to win, and so we

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Speaker 1: often win then, so that's what I like to do.

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Speaker 1: What about you, Sean?

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Speaker 2: Thanks for asking handball? Handball? I mean, what a crazy

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Speaker 2: European sport that one is. They all run around like

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Speaker 2: mad people throwing a ball at each other who are athletic.

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Speaker 2: It's kind of what you did at high school when

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Speaker 2: you're going up in lunchtime, built the crap out of

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Speaker 2: each other with a tennis ball. That's what they're doing anyway.

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Speaker 1: Now, you know last week I had a week off, right.

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Speaker 2: Did you? I didn't notice? There you go?

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Speaker 1: Oh cheers, thank you, And I've come back with a

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Speaker 1: renewed vigor and a renewed commitment to melodrama, to brevity.

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Speaker 2: Here we go already wasting time.

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Speaker 1: No, I'm not, and you know what, I'm not going

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Speaker 1: to be put off by the likes of you. Sean interjection, Alma,

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Speaker 1: you you are the one that slows this show down. Me.

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Speaker 1: I am not going to stand in the way. I'm

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Speaker 1: going to get this done quickly. Today we're going to

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Speaker 1: be out of here and we can enjoy our weekends.

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Speaker 1: Our listeners can enjoy their weekends and not have to

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Speaker 1: listen to you crapping on for forty five minutes today?

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Speaker 1: Is quick?

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Speaker 3: You for the last sixty seconds?

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Speaker 2: Yeah, exactly, Michael. Tell me, in the spirit of brevity,

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Speaker 2: what's your biggest story of the week?

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Speaker 1: Well, John, there's actually a few options to choose from,

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Speaker 1: but really no, there is one one big story this week,

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Speaker 1: and it happened right at the beginning of the week,

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Speaker 1: and nothing since then has even come close. I'm talking

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Speaker 1: about US politics, of course, and Joe Biden withdrawing from

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Speaker 1: the race. He's Breen of course, under under enormous pressure

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Speaker 1: to do something when it happened to us. Very gracious

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Speaker 1: about it at the time, and then later in the

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Speaker 1: week he spoke he didn't address from the Oval office,

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Speaker 1: and talked about the reasons why. But he did also

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Speaker 1: say this during that address, and I thought this is interesting.

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Speaker 1: He says, I believe my record as president, my leadership

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Speaker 1: in the world, my vision for America's future, all merited

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Speaker 1: a second term. But nothing, nothing can come in the

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Speaker 1: way of saving our democracy. That includes personal ambition. It

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Speaker 1: doesn't exactly sound like someone who wanted to go does it.

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Speaker 1: But in the end, he knew he had to. He

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Speaker 1: didn't stand a chance against Donald Trump. His party knew that,

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Speaker 1: especially after his very poor debate performance a few weeks ago.

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Speaker 1: He endorsed Vice President Karmala Harris as the Democrats candidate.

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Speaker 1: And didn't she did? She hit it with some force,

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Speaker 1: didn't she. In the first twenty four hours her campaign

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Speaker 1: raised a record eighty one million US dollars. She secured

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Speaker 1: the backing of all of her potential rivals key figures

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Speaker 1: within the party as well, Like Nancy Pelosi, Chuck Schumer

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Speaker 1: locked in enough pledged delegates so the official nomination will

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Speaker 1: be hers. It has certainly reinvigorated the party, but the

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Speaker 1: big question here is is it going to be enough?

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Speaker 1: Because Donald Trump is taking a significant amount of momentum

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Speaker 1: into the final few months of the campaign. He's united

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Speaker 1: his party behind him, He's survived an assassination attempt, He's

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Speaker 1: knocked Joe Biden out of the race. It's no surprise

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Speaker 1: that most of the poles still have him in front.

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Speaker 1: But what I like about this now is that we

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Speaker 1: are in for an act sure contest, it seems, between

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Speaker 1: the candidates, and that's certainly the way a lot of

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Speaker 1: the pundits are seeing it. In the US, this was

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Speaker 1: a huge global story this week. Never before have we

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Speaker 1: seen a sitting US president withdrawal from a campaign so late,

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Speaker 1: And this campaign and the ultimate result in the world's

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Speaker 1: largest economy and our strongest ally will have global and

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Speaker 1: local ramifications. Kamala Harris, Donald Trump, Joe Biden have been

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Speaker 1: the biggest global headline every day this week. If that's

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Speaker 1: not the biggest story of the week, then I don't

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Speaker 1: know what is. And I realized in hindsight that was

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Speaker 1: not as brief as I said it was going to be.

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Speaker 2: You just the stun silence from Adam and I says

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Speaker 2: everything about that story. I agree it's the biggest global

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Speaker 2: headline of the week, but it's not the biggest story

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Speaker 2: of the week. It has been a fantastic it's it

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Speaker 2: has been great to watch. There is no doubt about it.

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Speaker 2: In real theater. What I thought was interesting because this

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Speaker 2: happened last weekend, as you said, by about Tuesday Wednesday.

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Speaker 2: This week, though, it has sort of fallen off the

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Speaker 2: front pages, and we we as journalists, are very interested

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Speaker 2: in it. But even though I'm not that interested in anymore.

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Speaker 2: So I agree, biggest headline story, the biggest get on

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Speaker 2: with it, the biggest get on story, the one that

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Speaker 2: affects people. You know that dodgy criteria that Adam came through. Yeah,

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Speaker 2: that one.

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Speaker 1: Oh God, you go on with some nonsense, Sean Ah.

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Speaker 2: This is a story that affects investors, It affects workplaces,

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Speaker 2: it affects stuff all that.

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Speaker 3: It affects stuff stuff.

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Speaker 1: Yeah, I hate to say it. You're starting to sound

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Speaker 1: like me or Martin Quigen from The Simpsons.

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Speaker 2: This story was the most well read story in the

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Speaker 2: FT this week. Now, I don't know whether that's true,

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Speaker 2: but a certain day it was number one.

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Speaker 1: You have become me making up facts to support yourself eats.

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Speaker 2: The selloff in tech stocks Massive, Microsoft, Apple, then Video, Amazon, Meta, Alphabet.

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Speaker 2: On one day they tumbled a combined value of one

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Speaker 2: trillion dollars. That's like wiping out all the big banks.

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Speaker 2: BHP says so on a Queri Group and Goodman in

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Speaker 2: one session. Why is this so important? Because the mood

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Speaker 2: around tech is shifting. It's a brave person to say

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Speaker 2: the billion's over, but certainly a reality check is happening.

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Speaker 2: The last couple of sessions of trading markets fell, places

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Speaker 2: like Nvidia literally hundreds of billions of dollars wiped out

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Speaker 2: of value. Tell Us as June quarter earnings were down

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Speaker 2: forty five percent, and in the following session it's share

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Speaker 2: price fell twelve percent. Now people knew that its earnings

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Speaker 2: were going to fall significantly, still it was sold off.

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Speaker 2: Mind due, it is up eighteen percent over the past month,

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Speaker 2: so hardly Criss is here. At Alphabet, earnings and revenue

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Speaker 2: expectations were better than expected, but it's share price fell

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Speaker 2: more than five percent. Basically, people there are worried about

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Speaker 2: profit margins. The end of The tech boom has been

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Speaker 2: called for a couple of years now. But what's different

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Speaker 2: today this week compared to the past couple of years

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Speaker 2: is that in more large economies, interst rates are on

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Speaker 2: the way down or are about to head that way.

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Speaker 2: Not Australia but everywhere else. That should help interestrate sensitive stocks, manitos,

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Speaker 2: the smaller companies. In the US, you see the Rustle

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Speaker 2: Index of smaller companies rising as the tech stocks are falling. Also,

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Speaker 2: the unbridled enthusiasm for anything AI seems to have been

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Speaker 2: tempered just a bit. Maybe it isn't the revolution that's

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Speaker 2: going to change our lives over the next five years.

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Speaker 2: That's worked against companies like Nvidia and Microsoft. If the

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Speaker 2: text stocks aren't the market leaders anymore, what is it

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Speaker 2: totally changes the dynamics of markets. This is the week

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Speaker 2: I predict, sir, that we will look back and say, yeah,

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Speaker 2: that was when all those tech stocks started getting sold off.

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Speaker 2: And that is a massive story. That is what is

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Speaker 2: actually relevant to people as opposed to purely for Australians,

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Speaker 2: particularly purely kind of window dressing. That's US politics, which

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Speaker 2: I don't really believe that, but you know, I just.

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Speaker 3: Adam, you okay, really interesting, Michael. One element which I

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Speaker 3: know we covered during the week, particularly with Bruce Wolpy's interview,

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Speaker 3: was that the Republicans are still favored here, and so

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Speaker 3: as much as this change is huge news, I actually

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Speaker 3: can't split your stories. I'm calling it a draw because

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Speaker 3: I think they're both massive stories.

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Speaker 2: Well, I'm calling that a win.

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Speaker 1: I think that is a win for sure, and if

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Speaker 1: you managed it, honestly.

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Speaker 3: The amount of money in technology and the amount of

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Speaker 3: hope around the world in this category of stocks, I

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Speaker 3: think it is a massive story.

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Speaker 1: Oh yeah, yeah, I thought. Can I just tell you ever,

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Speaker 1: the gracious winner when I was going through it didn't win.

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Speaker 2: He died.

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Speaker 1: Don't give him that.

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Speaker 2: Come on, Michael, that's a win.

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Speaker 1: When I was going through my story for this week,

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Speaker 1: just planning out what I thought, you know what, I

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Speaker 1: will win the first category. The rest I'm not sure about.

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Speaker 1: But there is no way I can lose with Biden

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Speaker 1: and Harris and front one.

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Speaker 2: I love the way that Adam judges sometimes.

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Speaker 1: Let's move on, right, this is a disgrace, most remarkable.

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Speaker 2: Please, Sean, You've got a big chance. He HiT's all right. Well,

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Speaker 2: I think it's remarkable. How generous our King Charles the

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Speaker 2: Third is. He doesn't want twenty five percent of profits

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Speaker 2: from the Crown of State. He wants just twelve percent,

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Speaker 2: which in a bumper year like the last year, amounts

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Speaker 2: to me one hundred and thirty two million dollars. Imagine

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Speaker 2: if he's stuck with the old q E two formula

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Speaker 2: of twenty five percent, then he'd be getting two hundred

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Speaker 2: and seventy million dollars and probably been kicked out of

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Speaker 2: the Buckingham Palace. Probably not. But our generous King, which

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Speaker 2: I mean King Charles the Third is my all time

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Speaker 2: favorite monarch. I mean, you can have your Henry the eighths,

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Speaker 2: you can have your Vikings watching that TV show at

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Speaker 2: the moment, you know, But King Charles the Third is

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Speaker 2: just a bit wacky, and I think that is very

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Speaker 2: very cool. Now, this all came from the Crown Estates

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Speaker 2: and your report, which was released this week. Plenty of

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Speaker 2: remarkable stuff in that. The reason for a big jump

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Speaker 2: in profit last year was some smart deals involving the

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Speaker 2: leasing of sea beds to offshore wind producers. Now, I've

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Speaker 2: got to say they were given somewhat of a leg

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Speaker 2: up on this one, because did you know, since nineteen

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Speaker 2: sixty four the Crown Estate has laid claim to the

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Speaker 2: UK's entire continental shelf, reaching hundreds of kilometers into the sea,

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Speaker 2: and with the right to grant permissions to build oshor

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Speaker 2: wind turbines, lay pipelines, store carbet under the seabed, so

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Speaker 2: it is sitting on a motza anyway. Then your report

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Speaker 2: also said that the number of visitors to Buckingham Palace

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Speaker 2: and Windsor Castle was almost pre COVID levels most remarkable,

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Speaker 2: which Markel agreed with me. During the week family members

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Speaker 2: in the twelve month period took in twenty three hundred

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Speaker 2: engagements in Britain and abroad, and from memory Michael used

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Speaker 2: to calculate it with six points something engagements per day.

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Speaker 2: Now the old and I mean remember two of the

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Speaker 2: big draw cards, the King himself and Prince Catherine of

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Speaker 2: Wales were unwell during that period pre pandemic the q

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Speaker 2: E two days the number was thirty two hundred a day.

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Speaker 2: But even though you've got your two main stars out

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Speaker 2: of play, still twenty three hundred, which is pretty phenomenal.

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Speaker 2: The number of messages the King and Princess received by

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Speaker 2: mail wishing them well following their health announcements was twenty seven,

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Speaker 2: six hundred and twenty. What are those people doing with

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Speaker 2: their lives? I ask anyway they're wishing them, They're wishing

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Speaker 2: them good health. And Buckingham Palace also said it's making

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Speaker 2: progress on its goals to recruit. I like this, a

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Speaker 2: more diverse workforce. You can imagine a can'tja. The Palace

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Speaker 2: set eleven point four percent of its employees are now

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Speaker 2: from ethnic minorities, so it's still short of the objective

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Speaker 2: of fourteen percent. Everything this story is remarkable, Adam, everything.

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Speaker 1: Goodness me, I don't even know where to start. Could

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Speaker 1: that remarkable story, if you can call it, that, be

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Speaker 1: any more out of touch with the common man?

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Speaker 2: That's why it's so remarkable. That is exactly why it's remarkable, Adam.

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Speaker 2: The fact a fourteen percent objective for ethnic minorities.

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Speaker 1: This is why you are fortunate to have the man

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Speaker 1: of the people here, Oh to talk about the things

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Speaker 1: that you every day Josephines and Commonplace Franklins really care

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Speaker 1: about Cowmonplace Franklin's like statistics.

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Speaker 2: Oh God, maybe I have got a chance on this story.

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Speaker 2: I don't think I did.

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Speaker 1: But does anybody here in this studio like data, Adam,

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Speaker 1: I do, yes, what a surprise. Goodness me. Well, Adam,

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Speaker 1: this is for you. You would have been beside yourself

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Speaker 1: at the veritable s'morgus board of data being pumped out

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Speaker 1: by the Australian Bureau of Statistics this week now. Obviously

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Speaker 1: in keeping with my commitment to being efficient and being

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Speaker 1: speedy and good time management and overall efficiency which I

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Speaker 1: have already mentioned which feels actually inefficient less yeah, quite

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Speaker 1: inefficient really to mention it twice in all of that. Anyway,

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Speaker 1: I'm just going to give you some rapid fire stats

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Speaker 1: that are simply remarkable. Okay, I'm not going to ask

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Speaker 1: for comment. I'm not going to make comment on them.

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Speaker 1: I'm just going to feed them to you quickly so

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Speaker 1: that we can get through them nice and fast. All right.

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Speaker 1: Number one, over the last hundred years or so, fertility

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Speaker 1: rates in Australia have harved. We are not having anywhere

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Speaker 1: near as many babies. Isn't that interesting? I said I

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Speaker 1: wouldn't comment. I take that back. Our population is getting older.

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Speaker 1: Over the same period. The median age has gone from

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Speaker 1: twenty two point five years to thirty eight point four years,

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Speaker 1: and it must be noted that both of you are

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Speaker 1: contributing to that.

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Speaker 2: So you're you're under your naughty Yeah, you're under twenty.

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Speaker 2: You're twenty two and a half years.

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Speaker 1: I am bang on the median.

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Speaker 2: Move on, move on.

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Speaker 1: Females have outnumbered males since nineteen seventy eight. Yes, life

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Speaker 1: expectancy has jumped by twenty six years. Great news for

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Speaker 1: those in this studio.

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Speaker 2: This is dull.

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Speaker 1: The population itself has grown hard or bring it hard

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Speaker 1: since nineteen oh one, with growth every year except for

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Speaker 1: World War One. And we need to discuss this a

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Speaker 1: little bit more because there was a very unusual spiking

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Speaker 1: net population in two thousand and nine, which I looked up.

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Speaker 1: I did a bit of research, which was sixty five

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Speaker 1: percent because of migration and thirty five percent ah, wink

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Speaker 1: wink because of natural causes. I think we all know

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Speaker 1: what that means. Very erotic.

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Speaker 2: I'm surprised that you are actually thirty eight and a

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Speaker 2: half thirty eight point four years the median. Yeah, like

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Speaker 2: sometimes you're more like fourteen.

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Speaker 1: Keeps me young, anyway, I've really kind of thrown myself

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Speaker 1: off all this talk of natural causes. The column now

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Speaker 1: nine in ten Australians now live in cities and towns,

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Speaker 1: which is probably unsurprising really considering that is where everything is.

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Speaker 1: And finally, a very worthy statistic to finish on the

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Speaker 1: Aboriginal and Torres Strait Island, a population of Australia is

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Speaker 1: now over one million people, an increase of six percent

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Speaker 1: since June twenty twenty one. So there you go. I

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Speaker 1: would say, I would say, and I am biased here

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Speaker 1: and I know that Adam is also an absolutely remarkable

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Speaker 1: batch of statistics delivered in near record time. It is

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Speaker 1: the most remarkable story of the week because it is

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Speaker 1: one that actually affects Australia, because it is about Australia.

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Speaker 2: Thank you, okay God, Adam, Where do you judge a

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Speaker 2: couple of duds? You know, like I, mine's better. Mine's

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Speaker 2: obviously better.

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Speaker 3: But I mean, like, kay, so look I look as

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Speaker 3: you know you both know I do love data. But Michael,

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Speaker 3: that was probably the most mundane set of.

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Speaker 2: Oh that is the moment of the year for me.

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Speaker 2: Christ wall and look at him so much.

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Speaker 3: Ho hum about excuse me?

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Speaker 1: This is this is about our population, Adam. Do you

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Speaker 1: think the Australian population is home?

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Speaker 2: Hum?

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Speaker 1: No, But do you hate Australia.

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Speaker 2: There's just no maybe it was delivery.

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Speaker 3: There's no new news there anyway.

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Speaker 1: It has never been about news, has it. There's a

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Speaker 1: very good chance that I've missed a very important memo

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Speaker 1: somewhere along the way.

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Speaker 3: Okay, So the business of royalty, on the other hand,

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Speaker 3: I actually find it really interesting the way that the

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Speaker 3: Crown of the UK is reporting on itself like a corporation.

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Speaker 3: And good good on King Charles for dropping the royalty

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Speaker 3: rate essentially by fifty percent. You know that's I think

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Speaker 3: that's quite something.

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Speaker 2: Chuck, Yeah, good on Chuck.

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Speaker 3: And just what a massive and literal seabed grab. In

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Speaker 3: nineteen sixty four, sixty years ago they said, oh yeah,

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Speaker 3: guess what. All the crown lands include those below the

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Speaker 3: sea too, on the continental shelf, and that's where they're

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Speaker 3: making so much money from green energy, wind farms and

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Speaker 3: so on. I think that's a really remarkable story. Well

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Speaker 3: don't Sean excellent?

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Speaker 2: Thank you very much, Adam. I'll take it here, do

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Speaker 2: you think yes? One and a half to half As

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Speaker 2: we head to the break, Michael, you're a mess over there.

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Speaker 2: You can't believe it. That's good mind, you you do

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Speaker 2: have half a point. That's not bad. Oh, we will.

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Speaker 2: We will be back in a moment.

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Speaker 1: With the sleeper story. It feels like the one I

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Speaker 1: just did might have been a sleeper story.

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Speaker 2: In fact, what we can say after this ad Michael

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Speaker 2: has even got a more sleepy story.

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Speaker 1: This is BS. I should not have come back. We'll

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Speaker 1: be back in a second. All right, we are looking

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Speaker 1: for a sleeper story of the week, and I have

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Speaker 1: kind of gathered myself together. I'm back. I'd like to

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Speaker 1: say that after my shame of the most remarkable story,

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Speaker 1: what did you describe it as, Adam the most mundane? Yes,

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Speaker 1: set of statistics.

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Speaker 2: Adam has seen some statistics in his time.

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Speaker 1: Adam lives for mundane statistics, and that was too mundane

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Speaker 1: for him. Goodness me, Okay, sleeper story, this one that's

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Speaker 1: flying under the radar, perhaps a little bit, or it's

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Speaker 1: going to be a bigger story further down the track.

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Speaker 1: For me, the main criteria here is brevity. Nice quick

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Speaker 1: sleeper story for me, I reckon.

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Speaker 2: We are thirty seven seconds into your part, and that

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Speaker 2: doesn't yet.

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Speaker 1: It doesn't count. I am trying to kind of thread

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Speaker 1: all of the elements of the story to get I

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Speaker 1: am trying to be the glue holding the program together

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Speaker 1: short and I can't do it with you needly one minute.

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Speaker 2: So we are one minute into this segment and you

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Speaker 2: haven't even told us what your quick sleeper story is?

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Speaker 2: Shall we keep going?

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Speaker 1: I reckon? I reckon. This is the week that we

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Speaker 1: saw ASSEK really bear its teeth, starting with pump and

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Speaker 1: dump schemes. Right now, If you happen to be in

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Speaker 1: a Telegram group, Telegram being the social media messaging app.

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Speaker 1: If you happen to be in a Telegram group called

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Speaker 1: asx pump and dump group, which isn't exactly the most

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Speaker 1: subtle name, is it, then look out, ACIK is coming

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Speaker 1: for you. Four alleged ring leaders of the scheme have

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Speaker 1: been charged with conspiracy to commit market rigging and falsetrating,

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Speaker 1: but Assek says there are hundreds hundreds of members of

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Speaker 1: the group attempting to manipulate the share prices of ASEX

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Speaker 1: listed small caps, trying to push up the price through

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Speaker 1: hype or misleading statements, then sell for a profit. What

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Speaker 1: we are seeing this week, though, is ACIC really showing

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Speaker 1: that it's got some teeth and that it's willing to

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Speaker 1: use them as it should to protect the are you

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Speaker 1: are you growling like ACIK.

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Speaker 2: Or a pirate or Captain Joe Longo.

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Speaker 1: Please. They are using it to demonstrate that they are

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Speaker 1: here to protect the integrity of the market. They are

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Speaker 1: out to make a point that this kind of thing

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Speaker 1: just isn't okay. And to further prove my point right,

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Speaker 1: the regulator released a report on the integrity of the

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Speaker 1: ASEX this week, this time with a focus on insider trading. Generally,

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Speaker 1: they said the market was pretty good a few exceptions,

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Speaker 1: and as part of this, ACIK is splitting out a

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Speaker 1: new specialist team to expedite criminal insider trading cases from

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Speaker 1: investigation to prosecution. I've got to say that there was

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Speaker 1: a lot of noise from the regulator this week. This

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00:22:10,640 --> 00:22:15,359
Speaker 1: was ACI week market on the calendar, because this is

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Speaker 1: a sign of things to come. Look out, pump and dumpers,

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Speaker 1: look out, insider traders, your days are numbered. This is

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Speaker 1: a sleeper story because we may be about to see

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Speaker 1: a whole raft of prosecutions all over the place, prosecutions

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Speaker 1: to the left, prosecutions to the right, all over the place.

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Speaker 1: And when that happens, I expect to be recognized as

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Speaker 1: the Sleeper story, King the nostrodamis offear and greeze, Michael,

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Speaker 1: Crystal Ball Thompson.

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Speaker 2: He's back, He's back. He just needed a bit of

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Speaker 2: a kick up the proverbial and he's been what.

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Speaker 1: A flourish Oh.

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Speaker 2: God, what a slow start, but came home. Funnily enough,

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Speaker 2: My sleeper story is very, very similar to Michael. It's

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Speaker 2: about the regulators getting busy. Mine's got sorry, Michael, all

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Speaker 2: the melodrama in the world, well done. Mine actual relevance. First,

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Speaker 2: we had the Fair Work Commission. It wants to conduct

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Speaker 2: what it's calling a fundamental review of part time employment rules,

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Speaker 2: very very important. Basically, he wants to create rules so

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Speaker 2: in awards, unions and employers know kind of what the

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Speaker 2: premitters are around employment rules for part timers. It also

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Speaker 2: wants to look at working from home clauses, and the

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Speaker 2: Clerk's award is likely to be the test case in

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Speaker 2: that instance. Now, there was a smaller inquiry going on

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Speaker 2: last year, but the alban Easy government said surprise and

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Speaker 2: prize employees and unions couldn't actually reach a consensus. So

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Speaker 2: this year review much bigger. It'll examine daily and weekly

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Speaker 2: minimum miles of work for part timers, circumstances in which

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Speaker 2: working hours may be altered, and additional hours it can

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Speaker 2: be worked. The government wants awards made easier to use,

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Speaker 2: and that's fair enough. We've had all sorts of big

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Speaker 2: corporates coming out and saying we've been underpaying for however

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Speaker 2: many years, and not because a deliberately doing it. Mostly

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Speaker 2: in fact, nearly always, it's because these awards are so

435
00:24:04,359 --> 00:24:06,639
Speaker 2: hard to read. But the government doesn't actually want to

436
00:24:06,880 --> 00:24:10,840
Speaker 2: reduce any employee entitlements. The bit about determining work from

437
00:24:10,880 --> 00:24:14,080
Speaker 2: home for the Clark's ward is particularly interesting I ranking

438
00:24:14,080 --> 00:24:16,159
Speaker 2: because you imagine if you had rules around that one.

439
00:24:16,440 --> 00:24:19,800
Speaker 2: Then we had Treasure Jim Chalmers draft merger reform legislation,

440
00:24:19,880 --> 00:24:23,320
Speaker 2: which he hopes will make the merger approval system faster, stronger, simpler,

441
00:24:23,400 --> 00:24:27,320
Speaker 2: more targeted, and more transparent, very superman like. The ideal

442
00:24:27,480 --> 00:24:29,760
Speaker 2: is that the HBC gets more power and can cast

443
00:24:29,800 --> 00:24:31,720
Speaker 2: its net across more M and A deals, but it

444
00:24:31,760 --> 00:24:34,040
Speaker 2: should also be able to wave through deals that clearly

445
00:24:34,080 --> 00:24:37,520
Speaker 2: don't create competition concerns. Lots of water to go under

446
00:24:37,560 --> 00:24:40,960
Speaker 2: the bridge in both cases, but the regulators, and this

447
00:24:41,000 --> 00:24:44,760
Speaker 2: is very similar to your story. The regulators are starting

448
00:24:44,760 --> 00:24:46,080
Speaker 2: to bear their teeth at him.

449
00:24:48,600 --> 00:24:52,840
Speaker 3: Very good. They're actually both very good, but one was

450
00:24:52,840 --> 00:24:53,960
Speaker 3: clearly better than the other.

451
00:24:54,080 --> 00:24:59,120
Speaker 1: Right, that is a gamble saying that because it could

452
00:24:59,160 --> 00:25:01,000
Speaker 1: easily go against.

453
00:25:00,720 --> 00:25:02,240
Speaker 3: And it has Michael.

454
00:25:03,400 --> 00:25:04,119
Speaker 1: Gone against me.

455
00:25:06,480 --> 00:25:14,359
Speaker 3: You're kidding, here's my rationale. Well, your melodrama was supreme,

456
00:25:14,480 --> 00:25:17,159
Speaker 3: particular at the end of it, wow wet sale to

457
00:25:17,200 --> 00:25:21,840
Speaker 3: come home, Yeah, you know, and getting the pump and

458
00:25:21,960 --> 00:25:24,560
Speaker 3: up group down. But just how ostentatious is it to

459
00:25:24,600 --> 00:25:27,760
Speaker 3: have a telegram group called pump and dump and it's

460
00:25:27,800 --> 00:25:31,320
Speaker 3: taken that as it even warned them, right, And so

461
00:25:31,440 --> 00:25:33,639
Speaker 3: this is over the last four years they've been going

462
00:25:33,680 --> 00:25:35,840
Speaker 3: on on this, and they finally got somewhere with it.

463
00:25:36,080 --> 00:25:37,920
Speaker 2: Three years old story, Michael, three years old.

464
00:25:38,280 --> 00:25:41,160
Speaker 1: Well, we already knew about the merger changes. They flagged

465
00:25:41,160 --> 00:25:43,119
Speaker 1: this what three months ago, and now we're just at

466
00:25:43,119 --> 00:25:45,280
Speaker 1: the point of actually hearing about the legislation.

467
00:25:45,760 --> 00:25:48,720
Speaker 3: No, that's definitely this week the merger reform.

468
00:25:49,040 --> 00:25:55,680
Speaker 2: But also, yeah, Michael, to be muting please that, Michael.

469
00:25:55,359 --> 00:25:58,160
Speaker 1: We knew all of those details three months ago. It's

470
00:25:58,200 --> 00:26:00,320
Speaker 1: now just they've actually clarified.

471
00:25:59,840 --> 00:26:03,639
Speaker 2: The shape of it. Oh, look you are favoring Michael.

472
00:26:03,720 --> 00:26:05,640
Speaker 2: That's not fair. Sorry, I'm having a chat to Luke,

473
00:26:05,680 --> 00:26:09,679
Speaker 2: our producer, who just because he's younger than you, Michael,

474
00:26:09,840 --> 00:26:10,480
Speaker 2: it's not fair.

475
00:26:10,680 --> 00:26:15,040
Speaker 3: Go on so fair work commission review and awards, part

476
00:26:15,040 --> 00:26:17,639
Speaker 3: time working from home, the right to disconnect. This is

477
00:26:17,680 --> 00:26:21,639
Speaker 3: so topical and so pervasive across so many jobs across

478
00:26:21,640 --> 00:26:25,359
Speaker 3: the country. So I think it is incredibly significant. Merger

479
00:26:25,400 --> 00:26:29,000
Speaker 3: reform I think is significant too, so for sleeper story

480
00:26:29,320 --> 00:26:29,960
Speaker 3: sewn you win.

481
00:26:30,320 --> 00:26:33,480
Speaker 1: Tenth of April this year, the A Triple C went

482
00:26:33,520 --> 00:26:36,399
Speaker 1: through the plans for the revised merger laws.

483
00:26:36,800 --> 00:26:38,520
Speaker 2: This is not an ap triple It's not an a

484
00:26:38,560 --> 00:26:42,200
Speaker 2: Triple C issue. It's the draft legislation from the government

485
00:26:42,240 --> 00:26:43,320
Speaker 2: what they're actually going to do.

486
00:26:43,600 --> 00:26:45,760
Speaker 1: The legislation reflects the proposal.

487
00:26:46,040 --> 00:26:48,080
Speaker 2: No, no, no, I would like you to actually learn

488
00:26:48,119 --> 00:26:49,880
Speaker 2: a little bit before you come on this show next week.

489
00:26:50,080 --> 00:26:54,000
Speaker 1: We did it. We did it in detail in April.

490
00:26:54,280 --> 00:26:57,720
Speaker 1: This is outrageous. I am you know what I am appealing.

491
00:26:57,800 --> 00:27:00,720
Speaker 1: I'm lodging appeal and appealed to the core of fear

492
00:27:00,720 --> 00:27:01,399
Speaker 1: and great appeal.

493
00:27:01,400 --> 00:27:03,600
Speaker 3: You're going to give the judge a yellow card in

494
00:27:03,720 --> 00:27:05,560
Speaker 3: Olympic themed yellow card.

495
00:27:05,760 --> 00:27:08,040
Speaker 2: Even Luke's thinking he's got his hand out of the

496
00:27:08,119 --> 00:27:09,240
Speaker 2: mute button right now.

497
00:27:10,200 --> 00:27:13,240
Speaker 1: Favorite story, You're up first on this one. This is

498
00:27:13,320 --> 00:27:13,919
Speaker 1: bull plopped.

499
00:27:14,480 --> 00:27:17,520
Speaker 2: Well, Michael, you're boasting about being thirty eight point four

500
00:27:17,560 --> 00:27:19,439
Speaker 2: years of age. I'm sort of a little older at

501
00:27:19,440 --> 00:27:22,159
Speaker 2: the time of life, and the kids are old enough

502
00:27:22,359 --> 00:27:25,120
Speaker 2: so that Jackie and I can go on holidays without them.

503
00:27:25,480 --> 00:27:27,320
Speaker 2: And I'm meant to rub that in or anything, but

504
00:27:27,560 --> 00:27:31,840
Speaker 2: we can so naturally. My favorite story is about quantus

505
00:27:31,920 --> 00:27:36,800
Speaker 2: cutting prices. International prices six times this year, Virgin Australia

506
00:27:36,840 --> 00:27:40,240
Speaker 2: is averaging at least one airfare sale a month. That's

507
00:27:40,280 --> 00:27:43,679
Speaker 2: according to Fight Center. International affairs globally fell six percent

508
00:27:43,760 --> 00:27:46,080
Speaker 2: in the first six months of twenty twenty four. That's

509
00:27:46,119 --> 00:27:48,760
Speaker 2: compared to twelve months earlier. Fights out of Australia are

510
00:27:48,760 --> 00:27:52,760
Speaker 2: thirteen percent cheaper. Fairs to Indo Bali, for example, eighteen

511
00:27:52,800 --> 00:27:56,399
Speaker 2: percent LA and prices will continue to fall if the

512
00:27:56,400 --> 00:27:59,960
Speaker 2: cost of living crisis makes consumers more price sensitive, According

513
00:27:59,960 --> 00:28:03,040
Speaker 2: to the Fights and A CEO James Kavnah, with under

514
00:28:03,040 --> 00:28:07,120
Speaker 2: pressure airlines wanting to fill planes months before departure, there's

515
00:28:07,160 --> 00:28:09,840
Speaker 2: plenty of deals for early bookers. Mister Kavna said. He

516
00:28:09,920 --> 00:28:12,440
Speaker 2: talked about a ten day tour to China, including flights

517
00:28:12,440 --> 00:28:15,879
Speaker 2: and accommodation on offer for less than a thousand bucks.

518
00:28:16,359 --> 00:28:19,160
Speaker 2: The whole thing about airfares, it's the rebalancing of power

519
00:28:19,160 --> 00:28:22,040
Speaker 2: from the post COVID demand surge that gave airlines all

520
00:28:22,040 --> 00:28:25,320
Speaker 2: the power through to the fact that a growing number

521
00:28:25,320 --> 00:28:27,520
Speaker 2: of international fights now and offer, particular in Asian and

522
00:28:27,560 --> 00:28:30,800
Speaker 2: europe traveling public don't to pay as much. The point is,

523
00:28:31,480 --> 00:28:34,200
Speaker 2: airfares are on the way down. And look, I'm sorry,

524
00:28:34,200 --> 00:28:36,080
Speaker 2: I mean yeah, I'm sure it's great to be thirty

525
00:28:36,080 --> 00:28:39,440
Speaker 2: eight point four years old, Michael, but every age has

526
00:28:39,480 --> 00:28:43,400
Speaker 2: its compensations, as my mother would say, and the compensation

527
00:28:43,520 --> 00:28:46,560
Speaker 2: for being just a little bit older than that is that.

528
00:28:46,680 --> 00:28:49,000
Speaker 2: And I apologize to Rosie who is still fifteen and

529
00:28:49,120 --> 00:28:52,640
Speaker 2: probably does need to look after her still. And I

530
00:28:52,680 --> 00:28:55,920
Speaker 2: know we disappear a lot, but yes, six of the

531
00:28:55,920 --> 00:28:58,480
Speaker 2: eight kids out of school, you know, a couple of months,

532
00:28:58,480 --> 00:29:00,800
Speaker 2: seventy the eight kids gone. We can take advantage of

533
00:29:00,840 --> 00:29:05,720
Speaker 2: these efforts. Very very exciting. Favorite story, Michael.

534
00:29:07,440 --> 00:29:13,000
Speaker 1: I'm not sulking, but I'm not happy anyway. Look, I

535
00:29:13,080 --> 00:29:16,320
Speaker 1: reckon my favorite story this week. Right, I reckon that

536
00:29:16,440 --> 00:29:18,440
Speaker 1: this week, and Adam this is right up your ally.

537
00:29:19,360 --> 00:29:21,400
Speaker 2: We saw not being right up at zally.

538
00:29:24,480 --> 00:29:28,280
Speaker 1: Can we please be a little bit mature Sean. First

539
00:29:28,280 --> 00:29:31,160
Speaker 1: of all, you did that little erotic growl when I

540
00:29:31,200 --> 00:29:36,360
Speaker 1: was talking about Asse and now you're talking about Adam's ali. Anyway,

541
00:29:37,680 --> 00:29:41,760
Speaker 1: this week we saw, as I said before I was interrupted,

542
00:29:42,000 --> 00:29:45,840
Speaker 1: one of the most clever moves I reckon in corporate

543
00:29:45,920 --> 00:29:50,120
Speaker 1: reputation rehabilitation ever and it came from Optus and Adam

544
00:29:50,160 --> 00:29:51,640
Speaker 1: this is one that you would be talking about a

545
00:29:51,640 --> 00:29:54,200
Speaker 1: lot on, say the mumbrella cast that kind of thing,

546
00:29:54,480 --> 00:30:00,400
Speaker 1: because I love it. Oh, that's just sickening. I actually

547
00:30:00,480 --> 00:30:03,840
Speaker 1: hate myself for the amount I sucked up just then. Anyway,

548
00:30:04,120 --> 00:30:07,640
Speaker 1: I don't care about the win. Optus, our number two telco,

549
00:30:07,920 --> 00:30:11,680
Speaker 1: has copped an absolute hammering in recent years. First there

550
00:30:11,680 --> 00:30:14,400
Speaker 1: was a cyber attack that saw customers data hit the

551
00:30:14,480 --> 00:30:18,720
Speaker 1: dark web, then a devastating system outage in November last year.

552
00:30:19,040 --> 00:30:23,000
Speaker 1: Thousands of customers abandoned Optus. In the wake of the outage.

553
00:30:23,000 --> 00:30:26,880
Speaker 1: CEO Kelly Bayo Rosmarn left as well. New boss Stephen

554
00:30:26,920 --> 00:30:30,200
Speaker 1: Rue is due to join later this year. A massive,

555
00:30:30,280 --> 00:30:33,200
Speaker 1: massive job to do, obviously, to repair Optus's reputation with

556
00:30:33,240 --> 00:30:35,760
Speaker 1: Ossie consumers. Now he hasn't even started yet, but in

557
00:30:35,800 --> 00:30:40,400
Speaker 1: the meantime, Optus, how about this one. They've really busted

558
00:30:40,400 --> 00:30:44,080
Speaker 1: one out this week, and I reckon this is really, really,

559
00:30:44,440 --> 00:30:48,640
Speaker 1: really smart. They are offering a free one week trial

560
00:30:48,760 --> 00:30:51,640
Speaker 1: for people to test the Optis network. So customers will

561
00:30:51,680 --> 00:30:55,440
Speaker 1: have access to thirty gigabytes of data, unlimited standard national

562
00:30:55,520 --> 00:30:58,640
Speaker 1: calls a thousand standard national text messages over a seven

563
00:30:58,720 --> 00:31:02,120
Speaker 1: day period. The thing is, the thing is you don't

564
00:31:02,280 --> 00:31:05,640
Speaker 1: need to provide payment details or anything. You do it

565
00:31:05,680 --> 00:31:10,440
Speaker 1: with an ECIM through the Myoptus app. I don't want

566
00:31:10,480 --> 00:31:17,320
Speaker 1: to describe myself as a hero, right, but I have

567
00:31:17,560 --> 00:31:22,040
Speaker 1: taken it upon myself to test this for fear and

568
00:31:22,120 --> 00:31:26,240
Speaker 1: greed A Adam, When was the last time you saw

569
00:31:26,280 --> 00:31:29,000
Speaker 1: Sean put his body on the line for this podcast?

570
00:31:29,600 --> 00:31:33,440
Speaker 1: I will tell you never. It has never happened. So

571
00:31:33,560 --> 00:31:35,800
Speaker 1: I won't describe myself as a hero, certainly not, but

572
00:31:35,840 --> 00:31:37,400
Speaker 1: I will not object if you want to do it.

573
00:31:37,760 --> 00:31:41,000
Speaker 1: I have signed up for the free trial. So at

574
00:31:41,000 --> 00:31:44,479
Speaker 1: the moment, I'm currently running both the new Optus service

575
00:31:44,640 --> 00:31:47,920
Speaker 1: and my current previous provider at the same time, so

576
00:31:47,960 --> 00:31:50,720
Speaker 1: I can actually see head to head on the home

577
00:31:50,760 --> 00:31:53,800
Speaker 1: screen on my phone which one has a stronger signal.

578
00:31:54,040 --> 00:31:56,440
Speaker 1: I think this is a genius move by Optus because

579
00:31:56,440 --> 00:31:58,400
Speaker 1: it lets you see if the grass really is greener

580
00:31:58,440 --> 00:32:01,040
Speaker 1: on the other side before you start mugging on. Optis

581
00:32:02,120 --> 00:32:06,320
Speaker 1: well done. My experiment obviously is still underway. But just

582
00:32:06,400 --> 00:32:08,960
Speaker 1: the fact that you've taken what is a pretty bold step.

583
00:32:09,000 --> 00:32:10,920
Speaker 1: This has never been done before, and it's always that

584
00:32:11,040 --> 00:32:12,640
Speaker 1: risk that you go, I'm going to try a different

585
00:32:12,880 --> 00:32:14,840
Speaker 1: provider and I'm going to get better service in my

586
00:32:14,920 --> 00:32:17,040
Speaker 1: home or in my local area, and then you go

587
00:32:17,080 --> 00:32:20,000
Speaker 1: and it's actually no better. This lets you check before

588
00:32:20,040 --> 00:32:23,200
Speaker 1: you actually jump. I think that's fantastic. I think it's

589
00:32:23,240 --> 00:32:26,000
Speaker 1: a great move. It's my favorite story of the week.

590
00:32:28,440 --> 00:32:31,640
Speaker 3: Very very interesting. Both are stories of meeting the market,

591
00:32:31,760 --> 00:32:36,160
Speaker 3: aren't they. One corporate reputation rebuild, other one travel. I

592
00:32:36,200 --> 00:32:38,800
Speaker 3: have to call this a dead heat sewn and Michael.

593
00:32:38,560 --> 00:32:48,240
Speaker 2: I think it's fair as bloody nonsense. Ah one point

594
00:32:48,600 --> 00:32:49,320
Speaker 2: three points.

595
00:32:50,360 --> 00:32:53,960
Speaker 1: No, No, no, it's two and a half to one.

596
00:32:53,600 --> 00:32:54,960
Speaker 2: No, it's not.

597
00:32:58,760 --> 00:33:02,080
Speaker 1: Ah, No, I disgraced myself in the final minute.

598
00:33:02,200 --> 00:33:04,000
Speaker 2: Oh no, Michael, No, no, no, no, it wasn't a

599
00:33:04,040 --> 00:33:05,400
Speaker 2: final minute well.

600
00:33:05,200 --> 00:33:10,000
Speaker 1: Before then perfect well played. All right, So that's three one.

601
00:33:10,040 --> 00:33:12,320
Speaker 1: What was the story count on the other?

602
00:33:12,520 --> 00:33:14,440
Speaker 3: That was the story coming? You mean the scores overall

603
00:33:14,480 --> 00:33:15,840
Speaker 3: out of one hundred and twenty.

604
00:33:16,200 --> 00:33:17,360
Speaker 2: You are shattered, aren't you?

605
00:33:18,040 --> 00:33:22,400
Speaker 3: I just you know, I just don't care. Sean ninety

606
00:33:22,440 --> 00:33:26,960
Speaker 3: four points. Michael Thompson ninety points.

607
00:33:27,520 --> 00:33:30,920
Speaker 1: I feel dirty. I just I thought i'd really I

608
00:33:30,920 --> 00:33:34,200
Speaker 1: thought i'd come back reinvigorated. I'd just come back and

609
00:33:34,280 --> 00:33:37,760
Speaker 1: just demolish you. I haven't said, I haven't said to

610
00:33:37,800 --> 00:33:43,000
Speaker 1: my family yesterday I said I've got this one, and

611
00:33:43,080 --> 00:33:45,240
Speaker 1: ever i'd wished me before I headed off to the

612
00:33:45,280 --> 00:33:48,400
Speaker 1: studio and I said, don't need luck, got this one

613
00:33:48,440 --> 00:33:50,640
Speaker 1: in the bag. Do you have any idea how disappointing

614
00:33:50,960 --> 00:33:52,680
Speaker 1: it is and how disappointed they will be?

615
00:33:53,000 --> 00:33:53,280
Speaker 2: Now?

616
00:33:53,880 --> 00:33:55,120
Speaker 3: Doesn't he take it? Well?

617
00:33:55,400 --> 00:33:56,240
Speaker 2: He does?

618
00:33:56,520 --> 00:33:59,840
Speaker 1: All right? Good stuff, terrible result, but good competition. Thank

619
00:33:59,840 --> 00:34:03,760
Speaker 1: you very much, Adam, Thank you, Michael, and thank you Sean.

620
00:34:04,080 --> 00:34:04,720
Speaker 2: Thank you Michael.

621
00:34:05,240 --> 00:34:07,360
Speaker 1: Make sure you're following the podcast and please join us

622
00:34:07,400 --> 00:34:11,840
Speaker 1: online on LinkedIn, Instagram, TikTok, Facebook and X. I'm Michael Thompson.

623
00:34:11,880 --> 00:34:13,920
Speaker 1: And that was fear and greed on a great weekend,