1 00:00:06,120 --> 00:00:08,399 Speaker 1: This is the weekend edition of Fear and Greed, daily 2 00:00:08,440 --> 00:00:10,680 Speaker 1: business news for people who make their own decisions. I'm 3 00:00:10,680 --> 00:00:12,719 Speaker 1: Michael Thompson and good morning, Sean Aylmer. 4 00:00:12,920 --> 00:00:14,680 Speaker 2: Morning, Michael, Sean. 5 00:00:15,120 --> 00:00:17,959 Speaker 1: Our weekend show. That's very exciting. It's the first one 6 00:00:18,040 --> 00:00:19,919 Speaker 1: back for the year. I feel like there should have 7 00:00:19,920 --> 00:00:21,840 Speaker 1: been more enthusiasm just then, Sean. 8 00:00:22,880 --> 00:00:25,440 Speaker 2: I think we should change up the weekend show. We're 9 00:00:25,440 --> 00:00:28,680 Speaker 2: not going to do it today. But I'm just I'm 10 00:00:28,720 --> 00:00:31,760 Speaker 2: sick of winning. We have this competition between you and I. 11 00:00:31,840 --> 00:00:34,040 Speaker 2: We have our great judge General Mak. I'm just single winning. 12 00:00:34,080 --> 00:00:35,920 Speaker 3: It's tiring. It's such a burden. 13 00:00:36,000 --> 00:00:40,320 Speaker 1: It's why Michael Phelps retired after a while. You've just 14 00:00:40,360 --> 00:00:42,960 Speaker 1: won too many gold medals. It neck hurts. 15 00:00:43,240 --> 00:00:43,840 Speaker 2: It's heavy. 16 00:00:44,080 --> 00:00:48,760 Speaker 1: Yeah. Anyway, because this is a competition, it is about 17 00:00:48,760 --> 00:00:50,600 Speaker 1: each of us nominating what we think is the biggest 18 00:00:50,600 --> 00:00:54,080 Speaker 1: business story of the week, the most remarkable business story, 19 00:00:54,120 --> 00:00:56,480 Speaker 1: a sleeper story, one that's flying under the radar, which 20 00:00:56,520 --> 00:00:58,640 Speaker 1: I vote we scrap. If we're going to scrap anything, 21 00:00:58,720 --> 00:01:00,880 Speaker 1: we're going to make any changes this show, it's going 22 00:01:00,920 --> 00:01:01,400 Speaker 1: to be that one. 23 00:01:01,480 --> 00:01:01,920 Speaker 3: Get rid of it. 24 00:01:01,960 --> 00:01:05,320 Speaker 1: Because I'm terrible at that category. And our favorite business 25 00:01:05,360 --> 00:01:08,840 Speaker 1: related story, and we are joined by a judge to 26 00:01:08,840 --> 00:01:12,360 Speaker 1: pick a winner. That judge who seemed to pick Sean 27 00:01:12,480 --> 00:01:14,479 Speaker 1: a lot last year. And I'm not suggesting that he's 28 00:01:14,520 --> 00:01:16,160 Speaker 1: in any way biased or on the take or anything 29 00:01:16,240 --> 00:01:19,240 Speaker 1: like that, but Adam Lang our fearing great colleague, Adam, 30 00:01:19,240 --> 00:01:20,040 Speaker 1: good morning. 31 00:01:19,959 --> 00:01:21,600 Speaker 3: Good morning, Michael, and good morning Sean. 32 00:01:21,880 --> 00:01:23,080 Speaker 2: Good morning Adam. 33 00:01:23,120 --> 00:01:25,560 Speaker 1: Back for another grade year, Adam, what are you looking 34 00:01:25,600 --> 00:01:29,160 Speaker 1: for this year? Your judging criteria last year were notoriously 35 00:01:29,440 --> 00:01:32,160 Speaker 1: both rigid and alarmingly flexible. 36 00:01:33,160 --> 00:01:35,720 Speaker 2: I would say arbitrary, actually arbitry. 37 00:01:36,480 --> 00:01:41,000 Speaker 4: I would love to see topicality, timeliness, make them very contemporary, 38 00:01:41,360 --> 00:01:45,360 Speaker 4: big economic impact, play a little bit to subjective bias. 39 00:01:45,520 --> 00:01:47,560 Speaker 4: That's mine, and I'd love it if you brought a 40 00:01:47,600 --> 00:01:48,760 Speaker 4: little bit of melodrama to. 41 00:01:50,240 --> 00:01:51,120 Speaker 1: I think we can do that. 42 00:01:51,560 --> 00:01:52,320 Speaker 3: We'll give it a crack. 43 00:01:53,400 --> 00:01:55,760 Speaker 1: The biggest story of the week. We're going to jump 44 00:01:55,760 --> 00:01:57,840 Speaker 1: straight into it because my new year's resolution is to 45 00:01:57,880 --> 00:02:00,240 Speaker 1: be more efficient in the way that we're way that 46 00:02:00,280 --> 00:02:01,880 Speaker 1: we're doing this, and so I'm going to get a 47 00:02:01,880 --> 00:02:06,240 Speaker 1: big challenge. Yeah, and like most news resolutions. 48 00:02:06,320 --> 00:02:07,440 Speaker 3: It's altering already. 49 00:02:07,880 --> 00:02:09,400 Speaker 1: We'll give it a crack. For a week one and 50 00:02:09,440 --> 00:02:13,320 Speaker 1: see how we go. But no, if you hear expecting 51 00:02:13,360 --> 00:02:15,680 Speaker 1: a big competition for the biggest story of the week, 52 00:02:16,040 --> 00:02:19,160 Speaker 1: you're not going to get one, because unfortunately and I've 53 00:02:19,200 --> 00:02:22,079 Speaker 1: colluded on this and have decided there is only there 54 00:02:22,160 --> 00:02:25,160 Speaker 1: is only one big story, and so we're going to 55 00:02:25,240 --> 00:02:28,959 Speaker 1: kind of split the points. And that big story is 56 00:02:28,960 --> 00:02:31,000 Speaker 1: what's happened in airlines this week. And I'm just kidding, 57 00:02:32,919 --> 00:02:38,000 Speaker 1: it is all about Donald Trump. Can I go through 58 00:02:38,040 --> 00:02:39,600 Speaker 1: my little bits that I wanted to point out? 59 00:02:39,680 --> 00:02:44,880 Speaker 2: So done, Adam, As we've sensibly colluded, We've just picked 60 00:02:44,880 --> 00:02:47,560 Speaker 2: the parts that we have taken from this week. That's 61 00:02:47,560 --> 00:02:49,960 Speaker 2: not really competition, but we just keep the parts that 62 00:02:50,000 --> 00:02:53,600 Speaker 2: we like from this world we've thought about this week, Michael. 63 00:02:53,840 --> 00:02:56,200 Speaker 1: Because the thing is there is there's so much from 64 00:02:56,240 --> 00:02:59,480 Speaker 1: this I mean, if you go back to the actual 65 00:02:59,639 --> 00:03:02,920 Speaker 1: moment of inauguration, there has just been so many stories 66 00:03:02,919 --> 00:03:04,640 Speaker 1: that have flowed out of that, and any one of 67 00:03:04,639 --> 00:03:06,600 Speaker 1: these stories could have kind of filled a full show 68 00:03:07,000 --> 00:03:08,640 Speaker 1: this week, but we just had we had to cram 69 00:03:08,720 --> 00:03:12,560 Speaker 1: so much in this week when Trump was Isn't it funny? 70 00:03:12,720 --> 00:03:16,240 Speaker 1: Forty is both the forty fifth and forty seventh president, 71 00:03:16,440 --> 00:03:19,920 Speaker 1: and I was. I was on the Trump merchandise site, 72 00:03:19,960 --> 00:03:22,400 Speaker 1: like on his official site, and you can now you 73 00:03:22,400 --> 00:03:25,440 Speaker 1: can get the caps that have forty five and forty 74 00:03:25,480 --> 00:03:30,120 Speaker 1: seven alive. And I'm like, oh nice, it's pretty impressive. 75 00:03:30,680 --> 00:03:34,000 Speaker 1: Do not miss an opportunity. Look the whole inauguration, The 76 00:03:34,040 --> 00:03:36,760 Speaker 1: whole thing was a spectacle, wasn't it. I love the 77 00:03:36,760 --> 00:03:38,720 Speaker 1: theater of all of that kind of thing, But and 78 00:03:38,720 --> 00:03:42,560 Speaker 1: this was pretty It was like watching the Oscars when 79 00:03:42,600 --> 00:03:44,440 Speaker 1: you watch the kind of the red carpet part of 80 00:03:44,440 --> 00:03:46,080 Speaker 1: the Oscars and you're just trying to kind of spot 81 00:03:46,120 --> 00:03:48,160 Speaker 1: the actors and things that you know. Here you could 82 00:03:48,200 --> 00:03:51,440 Speaker 1: just but you were spotting business people in this one 83 00:03:51,480 --> 00:03:53,920 Speaker 1: because the entire kind of first few rows were so 84 00:03:54,240 --> 00:03:57,280 Speaker 1: heavily stacked with kind of the all the tech billionaires. 85 00:03:57,320 --> 00:03:59,560 Speaker 1: You had you Jeff Bezos and your Mark Zuckerberg and 86 00:03:59,600 --> 00:04:03,000 Speaker 1: of course your Elon Musk there and and bernarda No 87 00:04:03,240 --> 00:04:07,000 Speaker 1: kind of all of these billionaires, mostly tech, a few 88 00:04:07,000 --> 00:04:09,200 Speaker 1: others as well, and they were all there front and center, 89 00:04:09,240 --> 00:04:12,360 Speaker 1: which says I imagine quite a lot kind of about 90 00:04:12,360 --> 00:04:15,160 Speaker 1: the people that are hoping to maintain the ear of 91 00:04:15,200 --> 00:04:17,360 Speaker 1: the president throughout his term like a. 92 00:04:17,360 --> 00:04:19,560 Speaker 3: Royal court more than a US president. 93 00:04:19,680 --> 00:04:22,000 Speaker 1: Yeah, indeed that these are These are people who have 94 00:04:22,040 --> 00:04:25,919 Speaker 1: identified Trump as potentially very very friendly, potentially friendly to 95 00:04:25,960 --> 00:04:29,200 Speaker 1: their cause, but they are trying to maintain a good 96 00:04:29,200 --> 00:04:33,880 Speaker 1: relationship with him. They're basically a transactional presidency, like yeah. 97 00:04:34,200 --> 00:04:36,000 Speaker 3: To open for business. 98 00:04:36,720 --> 00:04:39,359 Speaker 1: Yeah, I think you're exactly right, and I think, but 99 00:04:39,560 --> 00:04:42,039 Speaker 1: I think to a degree, there's also an element of 100 00:04:42,120 --> 00:04:45,560 Speaker 1: fear in it because they know how quickly things could 101 00:04:45,560 --> 00:04:48,000 Speaker 1: turn against them as well if they don't maintain that 102 00:04:48,080 --> 00:04:50,279 Speaker 1: relationship and go through the motions of kind. 103 00:04:50,160 --> 00:04:51,000 Speaker 3: Of stay close. 104 00:04:51,440 --> 00:04:56,640 Speaker 1: Yeah, did you see Milania and the and the burglar 105 00:04:56,720 --> 00:04:58,440 Speaker 1: hat and the hate. 106 00:04:58,600 --> 00:05:03,800 Speaker 2: The Matuda advocates said her very own wall, call her 107 00:05:03,880 --> 00:05:05,520 Speaker 2: very own wall, because as he went to kiss that, 108 00:05:05,600 --> 00:05:06,520 Speaker 2: he couldn't get in there. 109 00:05:06,800 --> 00:05:09,480 Speaker 1: I couldn't quite get close enough. So it was an 110 00:05:09,480 --> 00:05:13,880 Speaker 1: air kiss for about six inches. Anyway, Look, after the 111 00:05:13,920 --> 00:05:17,599 Speaker 1: inauguration itself was actually done, he wasted absolutely no time 112 00:05:18,040 --> 00:05:20,279 Speaker 1: in getting going. And we had known that this was 113 00:05:20,320 --> 00:05:21,880 Speaker 1: going to be the case. The day one was going 114 00:05:21,880 --> 00:05:23,800 Speaker 1: to be a big one for executive orders. There was 115 00:05:23,839 --> 00:05:27,039 Speaker 1: a flurry of executive orders that were that were signed 116 00:05:27,080 --> 00:05:29,320 Speaker 1: off on the day, the big ones, kind of the 117 00:05:30,200 --> 00:05:34,880 Speaker 1: massive crackdown on illegal immigration, the freeze on new regulations. 118 00:05:34,920 --> 00:05:36,280 Speaker 1: I'm just I've got a bit of a shopping list 119 00:05:36,440 --> 00:05:38,680 Speaker 1: kind of here. There was the freeze on hiring, and 120 00:05:38,720 --> 00:05:42,480 Speaker 1: the federal bureaucracy workers to return to the office full time. 121 00:05:42,560 --> 00:05:45,640 Speaker 1: Federal kind of government bureaucray bureau oh. 122 00:05:45,560 --> 00:05:48,200 Speaker 2: Dear hard one bureaucracy. 123 00:05:48,480 --> 00:05:52,880 Speaker 1: Yeah, federal government workers returning to the office full time. 124 00:05:54,240 --> 00:05:59,640 Speaker 1: The federal the diversity, equity and inclusion staff being put 125 00:05:59,720 --> 00:06:02,240 Speaker 1: on path leave with a view to lay them off, 126 00:06:03,000 --> 00:06:07,120 Speaker 1: and a lot of that has generated a lot of 127 00:06:07,160 --> 00:06:09,400 Speaker 1: discussion and a lot of kind of weariness around what 128 00:06:09,480 --> 00:06:12,240 Speaker 1: this actually means for broader kind of hiring practices. The 129 00:06:12,240 --> 00:06:15,159 Speaker 1: government websites already pulling down material on climate change and 130 00:06:15,240 --> 00:06:17,799 Speaker 1: reproductive rights. That happened within kind of twenty four hours 131 00:06:17,839 --> 00:06:22,360 Speaker 1: as well. Withdrew from the Paris Climate Treaty, rescinded the 132 00:06:22,600 --> 00:06:25,320 Speaker 1: order made by Joe Biden for half of new vehicles 133 00:06:25,320 --> 00:06:28,839 Speaker 1: sold by twenty thirty to be electric vehicles. More oil drilling, 134 00:06:28,920 --> 00:06:32,080 Speaker 1: including the Arctica is allowed again. Pulled out of the 135 00:06:32,080 --> 00:06:36,599 Speaker 1: World Health Organization, the pardons, the pardons, there were so 136 00:06:36,920 --> 00:06:42,120 Speaker 1: many pardons, and there were fifteen hundred pardons alone for 137 00:06:42,240 --> 00:06:46,200 Speaker 1: the January six writers people that were involved, right from 138 00:06:46,279 --> 00:06:50,400 Speaker 1: kind of those who actually assaulted physically assaulted police officers 139 00:06:50,440 --> 00:06:52,080 Speaker 1: right through to kind of people who were more involved 140 00:06:52,080 --> 00:06:54,719 Speaker 1: on the periphery of it. But fifteen hundred pardons just 141 00:06:54,800 --> 00:06:58,239 Speaker 1: for January six people a loan. Joe Biden also issued 142 00:06:58,240 --> 00:06:59,920 Speaker 1: a bunch of pardons on his way out the door, 143 00:07:00,160 --> 00:07:02,520 Speaker 1: kind of preemptive ones for his family, et cetera, in 144 00:07:02,560 --> 00:07:05,440 Speaker 1: case of action taken against them. The whole thing has 145 00:07:05,480 --> 00:07:08,039 Speaker 1: been a spectacle, Sean, And I'm sure you've got something 146 00:07:08,040 --> 00:07:11,560 Speaker 1: that you would like to contribute, perhaps only five minutes later. Yeah, 147 00:07:11,680 --> 00:07:14,920 Speaker 1: maybe it's the biggest story of the year, Sean. 148 00:07:15,080 --> 00:07:17,520 Speaker 2: Ah No, I'm not arguing. I'm not arguing. It's just 149 00:07:17,840 --> 00:07:20,360 Speaker 2: a news resolution thing. You know what I thought about 150 00:07:20,400 --> 00:07:23,160 Speaker 2: this week, right, all the tariff stuff. So we're talking 151 00:07:23,160 --> 00:07:25,800 Speaker 2: about twenty five percent of Mexico, Canada, ten percent on China, 152 00:07:25,920 --> 00:07:29,760 Speaker 2: something from the European Union. There's all that. Then he 153 00:07:29,800 --> 00:07:32,200 Speaker 2: when told Opek and Saudi Arabia to cut the price 154 00:07:32,200 --> 00:07:34,480 Speaker 2: of oil because if they do that, inflation will full. 155 00:07:34,680 --> 00:07:39,400 Speaker 2: Now those two policies, tariffs and energy are totally at 156 00:07:39,400 --> 00:07:42,120 Speaker 2: odds with each other when it comes to inflation. So 157 00:07:42,440 --> 00:07:45,040 Speaker 2: let's say inflation is the biggest economic issue facing the 158 00:07:45,040 --> 00:07:47,400 Speaker 2: globe and the US. It affects the cost of living, 159 00:07:47,480 --> 00:07:52,000 Speaker 2: it affects growth, interest rates, employment, the whole lot. Donald 160 00:07:52,040 --> 00:07:55,080 Speaker 2: Trump's got a bunch of policies that will add to inflation. 161 00:07:55,520 --> 00:07:58,720 Speaker 2: Tarif's number one, sending illegal immigrants back home number two. 162 00:07:58,960 --> 00:08:01,920 Speaker 2: They will add to inflation. No one's arguing that others 163 00:08:02,320 --> 00:08:06,320 Speaker 2: will detract it, telling oil and energy companies to reduce 164 00:08:06,360 --> 00:08:09,240 Speaker 2: their costs. What came out of this week for me 165 00:08:10,040 --> 00:08:15,840 Speaker 2: is the absolute uncertainty about what's going to happen. And 166 00:08:15,960 --> 00:08:17,840 Speaker 2: as we've said on this show for four and a 167 00:08:17,880 --> 00:08:22,200 Speaker 2: half years now five years in May, uncertainty is bad 168 00:08:22,320 --> 00:08:25,920 Speaker 2: for markets. The US has decided it's okay to have 169 00:08:25,960 --> 00:08:28,720 Speaker 2: a leader who doesn't actually do what he says or 170 00:08:28,760 --> 00:08:31,240 Speaker 2: exaggerates all the time. Fair enough, they've vaded him in, 171 00:08:32,080 --> 00:08:35,920 Speaker 2: but that creates massive uncertainty. I don't reckon the Trump 172 00:08:36,000 --> 00:08:39,920 Speaker 2: years will be golden for markets. At least equities are 173 00:08:39,920 --> 00:08:43,240 Speaker 2: really high at the moment. Cryptoser up, so tough starting point. 174 00:08:43,960 --> 00:08:46,600 Speaker 2: But bond neils a really which predict future interest rates. 175 00:08:46,640 --> 00:08:50,360 Speaker 2: They're really high as well. This week I learned, or 176 00:08:50,360 --> 00:08:53,600 Speaker 2: at least I had confirmed, that the next four years 177 00:08:53,720 --> 00:08:55,960 Speaker 2: is going to be full of uncertainty, and that's bad 178 00:08:56,000 --> 00:08:59,600 Speaker 2: for investors and it's really bad for business. It's going 179 00:08:59,640 --> 00:09:02,599 Speaker 2: to be full of legal cases already, We've got a 180 00:09:02,640 --> 00:09:08,880 Speaker 2: bunch of states taking to courts some of the things 181 00:09:08,880 --> 00:09:12,120 Speaker 2: that Donald Trump has done in the first week. I mean, 182 00:09:12,800 --> 00:09:14,959 Speaker 2: the next four year is going to be wonderful for lawyers, 183 00:09:15,280 --> 00:09:17,440 Speaker 2: right There will be so many court cases, it will 184 00:09:17,440 --> 00:09:20,200 Speaker 2: be incredible. But I just don't think it's going to 185 00:09:20,200 --> 00:09:23,880 Speaker 2: be a golden era for financial markets because there's so 186 00:09:24,000 --> 00:09:26,160 Speaker 2: much uncertainty, and at the end of the day, that's 187 00:09:26,200 --> 00:09:28,319 Speaker 2: what they hate. That's my takeaway. 188 00:09:29,280 --> 00:09:30,679 Speaker 1: Where was Michelle Obama? 189 00:09:31,040 --> 00:09:34,560 Speaker 2: Where was Michelle Obama? Once in August that she been 190 00:09:34,600 --> 00:09:36,840 Speaker 2: seen in public with baraqu. 191 00:09:36,800 --> 00:09:39,080 Speaker 1: Don't you think it was curious that she didn't attend 192 00:09:39,280 --> 00:09:43,200 Speaker 1: Jimmy Carter's funeral because that is a place where politics 193 00:09:43,200 --> 00:09:45,840 Speaker 1: are put aside. It is usually a very bipartisan kind 194 00:09:45,880 --> 00:09:47,600 Speaker 1: of thing that everyone turns up to these things. And 195 00:09:47,800 --> 00:09:50,200 Speaker 1: they said that she had a previous engagement, and it 196 00:09:50,240 --> 00:09:54,480 Speaker 1: turns out that was an extended vacation in Hawaii. Anyway, 197 00:09:54,640 --> 00:09:59,480 Speaker 1: we're getting off track. The big question here is where's Michelle. No, 198 00:09:59,520 --> 00:10:01,120 Speaker 1: the big question where's Adam? 199 00:10:01,280 --> 00:10:01,640 Speaker 2: Actually? 200 00:10:03,080 --> 00:10:04,120 Speaker 1: So, who wins Adam? 201 00:10:04,160 --> 00:10:04,240 Speaker 3: No? 202 00:10:04,360 --> 00:10:07,760 Speaker 1: Don't actually do this because you can make This is. 203 00:10:07,679 --> 00:10:08,800 Speaker 3: A draw, isn't it? 204 00:10:08,840 --> 00:10:12,760 Speaker 4: I mean to me, Sean, Yes, uncertainty. I think, very 205 00:10:12,840 --> 00:10:15,640 Speaker 4: interesting comment around not a golden period for business because 206 00:10:16,120 --> 00:10:18,960 Speaker 4: the ramifications will take some on picking. I expect you 207 00:10:19,000 --> 00:10:22,719 Speaker 4: know that the launch of the executive orders has been spectacular, 208 00:10:22,760 --> 00:10:27,079 Speaker 4: Like it's gobsmacking, the pace of announcements that have been made, 209 00:10:27,440 --> 00:10:29,200 Speaker 4: and I think everyone this week's a bit oh my, 210 00:10:29,400 --> 00:10:30,240 Speaker 4: right now what to do? 211 00:10:30,400 --> 00:10:33,080 Speaker 3: The reaction and the absorption of that change. 212 00:10:33,800 --> 00:10:37,079 Speaker 4: So look dead heat. I think it's an incredible story. 213 00:10:37,080 --> 00:10:40,120 Speaker 4: I found a gobsmacking I'm barely keeping up with what's 214 00:10:40,160 --> 00:10:42,600 Speaker 4: going on, and amazing interested to see what's next. 215 00:10:43,400 --> 00:10:45,320 Speaker 1: All right, half a point each? 216 00:10:45,800 --> 00:10:50,439 Speaker 2: There we go. We're often running for twenty twenty five. 217 00:10:50,880 --> 00:10:54,040 Speaker 1: The only point I get all year, potentially from a 218 00:10:54,080 --> 00:10:57,840 Speaker 1: mandated drawer at the beginning, the only half point. Thanks 219 00:10:58,200 --> 00:11:00,840 Speaker 1: thanks for pointing that out. Most remarkable story. Would you 220 00:11:00,880 --> 00:11:01,760 Speaker 1: like to go first on this? 221 00:11:01,920 --> 00:11:04,560 Speaker 2: Sure? This is a pointy end of a story that's 222 00:11:04,559 --> 00:11:06,440 Speaker 2: been going on for quite a while, the shake up 223 00:11:06,520 --> 00:11:10,599 Speaker 2: underway in the local retailing sector. This week, Shareholders overwhelming 224 00:11:10,920 --> 00:11:15,520 Speaker 2: over with bureaucracy overwhelmingly. 225 00:11:15,400 --> 00:11:17,960 Speaker 1: And put an extra emphasis on the eighthent overwhelming. 226 00:11:18,760 --> 00:11:21,520 Speaker 2: Yes, I like that. Shareholders overheermingly. 227 00:11:22,320 --> 00:11:27,640 Speaker 1: That almost German that it was. 228 00:11:28,200 --> 00:11:30,120 Speaker 2: It's from Peter Seller's. 229 00:11:30,760 --> 00:11:32,920 Speaker 3: Oh is it pink pants? 230 00:11:32,920 --> 00:11:36,880 Speaker 2: I liked her her hemk pink pant Yes, yes, yes. Anyway, 231 00:11:37,000 --> 00:11:42,079 Speaker 2: back to the show. Overwhelmingly backed Meyer's takeover of Premier's 232 00:11:42,160 --> 00:11:45,120 Speaker 2: apparel brand. So we're talking about just Jeans, Dottie Portman's 233 00:11:45,200 --> 00:11:48,960 Speaker 2: JJ's JKE. Billionaire Solomon lou gets a seat on the 234 00:11:49,160 --> 00:11:52,400 Speaker 2: Meyer board. He now holds twenty seven percent of the company. 235 00:11:52,720 --> 00:11:55,200 Speaker 2: The new retailer will have seven hundred and eighty three 236 00:11:55,280 --> 00:11:59,360 Speaker 2: large format stores and specialty stores. Seventeen thousand staff four 237 00:11:59,400 --> 00:12:01,040 Speaker 2: billion in say, was two hunred and fifty million in 238 00:12:01,080 --> 00:12:04,719 Speaker 2: Earning's big deal. The reason they did it was that 239 00:12:04,840 --> 00:12:08,840 Speaker 2: one or other couldn't survive without it, Premier or Meyer. 240 00:12:09,480 --> 00:12:13,400 Speaker 2: The theory behind it is that Meyer has great scale, 241 00:12:13,679 --> 00:12:18,080 Speaker 2: but we'll learn some of the supply chain basics from Premiere. 242 00:12:18,720 --> 00:12:21,000 Speaker 2: Then we had the decision this week to close all 243 00:12:21,000 --> 00:12:23,240 Speaker 2: one hundred and thirty six Rivers stores across the country 244 00:12:23,240 --> 00:12:26,640 Speaker 2: by mid April, after receivers for parent company Mosaic Brands 245 00:12:26,679 --> 00:12:30,160 Speaker 2: couldn't find a buyer. Six fifty jobs there. Rivers actually 246 00:12:30,160 --> 00:12:32,760 Speaker 2: goes back to eighteen sixty three as the Hue manufacturers 247 00:12:32,800 --> 00:12:36,760 Speaker 2: started selling to Great Brothers David Jones in the late seventies, 248 00:12:37,720 --> 00:12:40,720 Speaker 2: opened to its own Stories stores in the nine to 249 00:12:40,720 --> 00:12:42,480 Speaker 2: eighty three, was the first one in Sydney. It's been 250 00:12:42,520 --> 00:12:46,240 Speaker 2: going since then. So now Mosaic Brands is the house 251 00:12:46,360 --> 00:12:49,680 Speaker 2: of a bunch of other brands. Seven of them have 252 00:12:49,760 --> 00:12:53,280 Speaker 2: now closed in Australia, Rockland's, Autograph, Crossroads, w Lane, b Me, 253 00:12:53,480 --> 00:12:57,960 Speaker 2: Cadi's and now Rivers, Miller's and only b are still 254 00:12:57,960 --> 00:13:00,600 Speaker 2: going trying to find bias for them. As I said, 255 00:13:00,640 --> 00:13:02,040 Speaker 2: the point in the end of what's going on in 256 00:13:02,080 --> 00:13:08,160 Speaker 2: retail is pretty remarkable, particularly how quickly stores are now closing. 257 00:13:09,200 --> 00:13:12,280 Speaker 2: All the stores that are closing are traditional retailers trying 258 00:13:12,320 --> 00:13:15,320 Speaker 2: to become kind of modern day retailers. It's not so 259 00:13:15,440 --> 00:13:19,600 Speaker 2: much about online stores, it's actually about online fulfillment and 260 00:13:19,679 --> 00:13:23,480 Speaker 2: supply chains. So the reason companies like Levisa and Amazon 261 00:13:23,520 --> 00:13:27,520 Speaker 2: are such favorites of investors. Isn't because their websites are better, 262 00:13:28,120 --> 00:13:32,280 Speaker 2: It's because their supply chain management is so good. Levisa, 263 00:13:32,320 --> 00:13:35,079 Speaker 2: for example, can take data from its stores at the 264 00:13:35,160 --> 00:13:38,880 Speaker 2: end of the day, see what's trending, increased production immediately 265 00:13:39,000 --> 00:13:42,760 Speaker 2: and with days have more stock in the store. Traditional 266 00:13:42,760 --> 00:13:46,280 Speaker 2: retailers just can't do that. Maya can't do that, just 267 00:13:46,360 --> 00:13:50,880 Speaker 2: jeans Dottie Portman's JJ's Jackie. The change in retailing and 268 00:13:51,040 --> 00:13:56,559 Speaker 2: especially supply change is incredible and it's quite remarkable, as 269 00:13:56,600 --> 00:14:00,520 Speaker 2: demonstrated by what happened this week, how quickly traditional retailers 270 00:14:00,520 --> 00:14:06,880 Speaker 2: are closing. Michael, it's a good story. That's a very 271 00:14:06,880 --> 00:14:07,400 Speaker 2: good story. 272 00:14:07,440 --> 00:14:10,320 Speaker 1: Here we go, Sean, No, no, no, no, no, no no. 273 00:14:10,480 --> 00:14:15,520 Speaker 1: I'm being completely genuine and sincere I mine's a quick 274 00:14:15,559 --> 00:14:19,280 Speaker 1: one though, And because no, I figured that, you know what, 275 00:14:19,400 --> 00:14:19,840 Speaker 1: this is a. 276 00:14:19,800 --> 00:14:21,920 Speaker 2: Man who went on for ten minutes about Donald Trump 277 00:14:21,960 --> 00:14:23,240 Speaker 2: go on. 278 00:14:22,680 --> 00:14:25,760 Speaker 1: On average, I have nine minutes to speak on a 279 00:14:25,800 --> 00:14:29,320 Speaker 1: weekend edition, right, an allocation of nine minutes self allocated. 280 00:14:30,160 --> 00:14:32,880 Speaker 1: And I figured that because the biggest story was so big, 281 00:14:32,960 --> 00:14:35,360 Speaker 1: I allocated six and a half minutes to that one, 282 00:14:36,120 --> 00:14:37,280 Speaker 1: and then that leaves me. 283 00:14:39,360 --> 00:14:42,440 Speaker 2: To mines minus six and a half two and a 284 00:14:42,480 --> 00:14:44,880 Speaker 2: half minutes, which are taken up a minute. 285 00:14:45,080 --> 00:14:47,320 Speaker 1: Explain, No, this is separate. This is kind of admin 286 00:14:47,400 --> 00:14:52,400 Speaker 1: which has a separate allocation. We are in the midst 287 00:14:52,640 --> 00:14:57,960 Speaker 1: of a surge in business failures, and we learned this 288 00:14:58,040 --> 00:15:04,120 Speaker 1: week just how big and how kind of worrying this 289 00:15:04,200 --> 00:15:09,600 Speaker 1: problem actually is. Eleven thousand and fifty three business failures 290 00:15:09,840 --> 00:15:15,000 Speaker 1: last financial year. This year we can expect sixteen thousand. 291 00:15:15,040 --> 00:15:22,120 Speaker 1: That is a fifty percent increase. Fifty percent increase, whole 292 00:15:22,160 --> 00:15:25,360 Speaker 1: bunch of reasons. Whole bunch of reasons. I'm sean you 293 00:15:25,440 --> 00:15:27,080 Speaker 1: kind of touched on a few of those, particularly kind 294 00:15:27,080 --> 00:15:29,080 Speaker 1: of with rivers. And there's a lot of pressures on businesses, 295 00:15:29,120 --> 00:15:31,160 Speaker 1: and they vary from business to business, but you've got 296 00:15:31,200 --> 00:15:34,160 Speaker 1: higher operating expenses, you've got cost of living pressures affecting 297 00:15:34,200 --> 00:15:38,080 Speaker 1: customers and also the businesses themselves. An ATO crackdown that 298 00:15:38,120 --> 00:15:40,520 Speaker 1: we've talked about many times in the past on unpaid 299 00:15:40,560 --> 00:15:47,560 Speaker 1: tax debt forcing companies to close. ASSEIC data shows seven thousand, 300 00:15:47,840 --> 00:15:51,080 Speaker 1: four hundred and eighty three insolvency appointments in the six 301 00:15:51,080 --> 00:15:54,760 Speaker 1: months to December thirty one that is a record, A record, 302 00:15:56,120 --> 00:15:57,160 Speaker 1: a record. 303 00:15:57,280 --> 00:15:59,160 Speaker 2: See, I think you'd be a lot quicker if you 304 00:15:59,160 --> 00:16:01,800 Speaker 2: didn't always repeat. You've been doing that a few times 305 00:16:01,800 --> 00:16:02,680 Speaker 2: this particular. 306 00:16:03,000 --> 00:16:05,560 Speaker 1: It's it's while I think where I'm going, it's it's 307 00:16:05,840 --> 00:16:07,760 Speaker 1: what I do just to stall, just for a moment 308 00:16:07,800 --> 00:16:10,600 Speaker 1: while ago. What the hell am I going to say? 309 00:16:11,200 --> 00:16:14,400 Speaker 1: Come on, brain, think of something. But anyway, Look, business 310 00:16:14,440 --> 00:16:18,920 Speaker 1: failures and closures are normal. They are They are a 311 00:16:19,040 --> 00:16:21,840 Speaker 1: natural part of the business ecosystem. 312 00:16:21,920 --> 00:16:27,080 Speaker 2: But but but the. 313 00:16:27,040 --> 00:16:29,720 Speaker 1: First triple butt of the season, I got that one 314 00:16:29,720 --> 00:16:31,720 Speaker 1: out early. I reckon, I'm going to go for a 315 00:16:31,880 --> 00:16:32,640 Speaker 1: sex tuple. 316 00:16:34,640 --> 00:16:36,640 Speaker 2: Oh keep going. 317 00:16:37,080 --> 00:16:40,440 Speaker 1: Have you ever have you ever had infinite regret over 318 00:16:40,480 --> 00:16:41,920 Speaker 1: the words that came out of your mouth? 319 00:16:43,880 --> 00:16:46,280 Speaker 2: Yes, but normally not in this sort of circumstance. 320 00:16:46,800 --> 00:16:48,240 Speaker 3: Yeah, they're normally not recorded. 321 00:16:48,440 --> 00:16:52,720 Speaker 1: Business failures are normal, closures are natural. But if you 322 00:16:52,960 --> 00:16:57,680 Speaker 1: ever wanted a snapshot, Adam in particular, of just how 323 00:16:57,800 --> 00:17:03,800 Speaker 1: hard it has become for Australian businesses, in particular small businesses, right, 324 00:17:03,840 --> 00:17:07,840 Speaker 1: small businesses, then these numbers could not be more stark. 325 00:17:09,400 --> 00:17:11,280 Speaker 1: And I was going to add on some kind of 326 00:17:11,359 --> 00:17:14,719 Speaker 1: additional info, some kind of a little bit of window dressing, 327 00:17:14,720 --> 00:17:18,200 Speaker 1: about the closure of the impending closure of Catch as 328 00:17:18,200 --> 00:17:22,200 Speaker 1: well by Wes Farmers because of the rise of Amazon 329 00:17:22,280 --> 00:17:23,919 Speaker 1: as Sean touched on a bunch of these things. But 330 00:17:23,960 --> 00:17:26,880 Speaker 1: I just think it's just the rise of Temu as 331 00:17:26,880 --> 00:17:31,399 Speaker 1: well in Australia, the pressure mounting on Australian businesses as 332 00:17:31,480 --> 00:17:34,760 Speaker 1: well from from now. Did you know that it's pronounced Shean, 333 00:17:35,240 --> 00:17:36,560 Speaker 1: you know, the other one that you get. 334 00:17:36,400 --> 00:17:36,919 Speaker 2: The ads for. 335 00:17:37,359 --> 00:17:40,240 Speaker 1: Yeah, I thought that was interesting because everyone always goes, 336 00:17:40,280 --> 00:17:42,000 Speaker 1: is it Seane? Is it Shane? No? 337 00:17:43,000 --> 00:17:46,960 Speaker 2: Adam, I'm cutting him off, like enough enough? Can I 338 00:17:47,040 --> 00:17:49,760 Speaker 2: just say myself the catch thing on wes Farmers that 339 00:17:49,800 --> 00:17:51,960 Speaker 2: Michael mentioned is actually part of my story, even though 340 00:17:52,000 --> 00:17:53,040 Speaker 2: he said it and I didn't. 341 00:17:53,119 --> 00:17:57,040 Speaker 1: But you know what, Sean, I'm here to help. I 342 00:17:57,080 --> 00:17:58,680 Speaker 1: was trying to help you and that way, if you win, 343 00:17:58,800 --> 00:17:59,879 Speaker 1: I get some of your points. 344 00:18:01,760 --> 00:18:07,080 Speaker 4: So look, I guess that's the summary. Sean wins, because 345 00:18:07,119 --> 00:18:09,400 Speaker 4: Michael yours is a sub your story is a subset 346 00:18:09,440 --> 00:18:10,280 Speaker 4: of Sean's. 347 00:18:10,320 --> 00:18:13,199 Speaker 1: In a way, this is a subset of mind closures. 348 00:18:13,320 --> 00:18:16,080 Speaker 1: His retail business closure within their. 349 00:18:15,960 --> 00:18:18,800 Speaker 4: Point, yes a fair point. Yours is the macro data. 350 00:18:18,880 --> 00:18:21,280 Speaker 4: But Shawn's is the most spectacular at the top end 351 00:18:21,280 --> 00:18:24,080 Speaker 4: of the scale and therefore the most remarkable part of 352 00:18:24,080 --> 00:18:26,520 Speaker 4: that story. And you know, to see it come together, 353 00:18:26,600 --> 00:18:28,879 Speaker 4: Solomon lou what a player like? 354 00:18:28,960 --> 00:18:30,280 Speaker 3: He just doesn't stop. 355 00:18:30,840 --> 00:18:32,199 Speaker 2: What a retail player? 356 00:18:32,880 --> 00:18:35,720 Speaker 3: So yes, what a player spelled p. 357 00:18:35,680 --> 00:18:39,080 Speaker 2: L A y A apostrophe. 358 00:18:39,560 --> 00:18:43,240 Speaker 4: Yeah, he's been off the my board for what twenty 359 00:18:43,320 --> 00:18:45,760 Speaker 4: years and now he's he's effectively back. 360 00:18:46,240 --> 00:18:48,240 Speaker 3: But he's what a remarkable story. 361 00:18:48,320 --> 00:18:51,080 Speaker 4: And I think there within the story to the Olivia 362 00:18:51,119 --> 00:18:55,040 Speaker 4: Worth element was quantus customer big part of that loyalty 363 00:18:55,080 --> 00:18:58,280 Speaker 4: program and how the customer loyalty programs is such an 364 00:18:58,280 --> 00:19:01,080 Speaker 4: incredibly important part of that physical. 365 00:19:00,680 --> 00:19:03,840 Speaker 2: And Olivia of course being the new CEO of Maya. 366 00:19:03,720 --> 00:19:07,359 Speaker 4: Yes, indeed, and how she's making my one, you know, 367 00:19:07,480 --> 00:19:10,640 Speaker 4: really the vanguard of their connection with customers. I think 368 00:19:10,640 --> 00:19:13,560 Speaker 4: it's such an interesting story and remarkable, So well done, Sean. 369 00:19:14,760 --> 00:19:17,440 Speaker 1: All right, so do I get any of that any 370 00:19:17,480 --> 00:19:18,160 Speaker 1: of his points? 371 00:19:18,440 --> 00:19:20,800 Speaker 2: Yeah? You do. You get point one because you did 372 00:19:20,800 --> 00:19:26,560 Speaker 2: your best, so one point four to zero point six, you. 373 00:19:26,520 --> 00:19:27,480 Speaker 1: Know, I will take that. 374 00:19:27,480 --> 00:19:29,800 Speaker 2: That might be the difference, could be the difference. 375 00:19:29,480 --> 00:19:32,080 Speaker 1: That could be the difference. Okay, we are running a 376 00:19:32,080 --> 00:19:35,560 Speaker 1: little bit behind time. No, thank you to Adam and Sean. 377 00:19:36,400 --> 00:19:38,160 Speaker 1: I've done my best to keep us on track here. 378 00:19:38,240 --> 00:19:40,200 Speaker 1: We'll take a very quick break and we'll come back 379 00:19:40,200 --> 00:19:42,040 Speaker 1: with a sleeper story. 380 00:19:41,840 --> 00:19:42,399 Speaker 3: In a moment. 381 00:19:49,240 --> 00:19:51,679 Speaker 1: All right, Sean, we are looking for a sleeper story 382 00:19:51,720 --> 00:19:53,720 Speaker 1: of the week. Shall I go first on this one? 383 00:19:54,000 --> 00:19:55,200 Speaker 2: Please do now. 384 00:19:55,240 --> 00:19:57,719 Speaker 1: Sleeper story is, of course one flying under the radar, or, 385 00:19:57,800 --> 00:19:59,520 Speaker 1: as we've discussed in the past, a story that is 386 00:19:59,520 --> 00:20:01,400 Speaker 1: going to become a for a bigger story further down 387 00:20:01,440 --> 00:20:03,520 Speaker 1: the track, in which case the fuse on that story 388 00:20:03,600 --> 00:20:09,760 Speaker 1: was lit through that throughout the week that's just gone by, Adam. Yes, 389 00:20:10,720 --> 00:20:13,960 Speaker 1: the Reserve Bank is looking into I'm going to do 390 00:20:14,000 --> 00:20:16,960 Speaker 1: this quickly, is looking into surcharges and the payment the 391 00:20:17,000 --> 00:20:23,520 Speaker 1: payments system right, which is I'm sorry, Sean, I'm hearing 392 00:20:23,600 --> 00:20:25,199 Speaker 1: that sledge accidental. 393 00:20:27,520 --> 00:20:28,360 Speaker 2: This is good stuff. 394 00:20:28,880 --> 00:20:32,639 Speaker 1: Co Wealth Bank has called on call for surcharges on 395 00:20:32,720 --> 00:20:37,239 Speaker 1: credit cards and debit cards to be dropped. You can 396 00:20:37,320 --> 00:20:40,520 Speaker 1: understand why, right Australia pays about a billion dollars in surcharges. 397 00:20:40,560 --> 00:20:42,399 Speaker 1: It is big business. There's actually a lot to be 398 00:20:42,440 --> 00:20:45,520 Speaker 1: made in the in the surcharge space here. But the 399 00:20:45,560 --> 00:20:48,800 Speaker 1: government's already planning to dump debit card surch charges next year. 400 00:20:48,800 --> 00:20:50,680 Speaker 1: They've got to get RBA approval for it, of course, 401 00:20:50,720 --> 00:20:54,240 Speaker 1: but it's already kind of on the cards. Con Wealth Bank, 402 00:20:54,400 --> 00:20:58,159 Speaker 1: MasterCard Visa want to see the Reserve Bank go further. 403 00:20:58,840 --> 00:21:02,200 Speaker 1: They want to join the UK and Europe in banning 404 00:21:02,480 --> 00:21:08,040 Speaker 1: credit card surcharges as well. But just one the sleeper 405 00:21:08,080 --> 00:21:12,320 Speaker 1: element of this, right, the sleeper element that you both 406 00:21:12,440 --> 00:21:14,560 Speaker 1: need to be aware of is that you must be 407 00:21:14,640 --> 00:21:17,760 Speaker 1: aware of the impact on prices here because everyone this 408 00:21:17,800 --> 00:21:19,920 Speaker 1: week was talking about what the Comonwealth Banks said, because 409 00:21:20,280 --> 00:21:25,120 Speaker 1: they are Australia's biggest company. What they say is enormously influential, obviously, 410 00:21:25,600 --> 00:21:29,680 Speaker 1: but think of the poor airline. 411 00:21:29,520 --> 00:21:32,800 Speaker 2: You nearly said, But again then I know it's so hard. 412 00:21:32,960 --> 00:21:35,240 Speaker 1: It's so hard not to bust out a double or 413 00:21:35,280 --> 00:21:41,240 Speaker 1: a triple. The airlines, both Quanscious and Virgin made a 414 00:21:41,240 --> 00:21:45,960 Speaker 1: submission as well, and they made a very valid, kind 415 00:21:45,960 --> 00:21:49,159 Speaker 1: of sleepery kind of point, which is why I'm including here, 416 00:21:49,480 --> 00:21:54,600 Speaker 1: is that if you scrap the credit card surcharges and 417 00:21:54,640 --> 00:21:57,040 Speaker 1: the debit card surges, but they're already going to go anyway, 418 00:21:57,800 --> 00:22:01,879 Speaker 1: then prices overall for airfares, for instance, are going to 419 00:22:01,960 --> 00:22:03,840 Speaker 1: rise because no longer they're going to be able to 420 00:22:03,880 --> 00:22:06,280 Speaker 1: single out those people who are paying with credit cards 421 00:22:06,320 --> 00:22:08,720 Speaker 1: and whack the surcharge on them, They're going to have 422 00:22:08,800 --> 00:22:11,199 Speaker 1: to just build those into the overall prices. So they 423 00:22:11,200 --> 00:22:13,600 Speaker 1: have said that if this happens, our prices are going 424 00:22:13,600 --> 00:22:16,680 Speaker 1: to rise. That is the last thing Australia needs right now, 425 00:22:17,080 --> 00:22:22,200 Speaker 1: higher airfares. So therefore the fuse has been lit for this. 426 00:22:22,680 --> 00:22:27,120 Speaker 1: I have cleverly lifted up the rock of the Reserve Bank, 427 00:22:27,280 --> 00:22:30,280 Speaker 1: had a little peak underneath, and detected a sleeper story 428 00:22:30,359 --> 00:22:33,120 Speaker 1: under there, and I'm presenting it to you now, Adam 429 00:22:33,359 --> 00:22:37,440 Speaker 1: casting the training, the spotlight of fear and greed upon it, 430 00:22:37,560 --> 00:22:39,560 Speaker 1: the sleeper story of the week. 431 00:22:39,880 --> 00:22:44,280 Speaker 2: Excellence, excellent story, not detracting from the show. I always 432 00:22:44,280 --> 00:22:46,840 Speaker 2: find a bit rich when the airline says stuff like that, 433 00:22:46,880 --> 00:22:49,600 Speaker 2: because we're talking about it, We're talking about a tiny 434 00:22:49,640 --> 00:22:53,840 Speaker 2: amount on a five hundred dollars air for two thousand 435 00:22:53,880 --> 00:22:56,120 Speaker 2: dollars airfare, and we're talking about three bucks or something 436 00:22:56,160 --> 00:22:59,560 Speaker 2: like other, And I like, fairpoint. I'm sure they're right. 437 00:23:00,240 --> 00:23:04,920 Speaker 2: Actually theoretically that's right. But surely woolly is when people 438 00:23:04,960 --> 00:23:12,280 Speaker 2: are buying anyway, what are we doing? Sleeper story, sleepless sleeplessness. Sorry, 439 00:23:12,560 --> 00:23:17,240 Speaker 2: I literally lost my theory. I'll do yes my sleeper story. 440 00:23:17,400 --> 00:23:19,359 Speaker 2: Some really interesting stats out this week. The number of 441 00:23:19,359 --> 00:23:22,480 Speaker 2: new homes being built is way below the government's target. 442 00:23:22,760 --> 00:23:25,959 Speaker 2: We had forty three thousand new dwellings being built in 443 00:23:26,000 --> 00:23:29,440 Speaker 2: the first three months of the National Housing Accord, according 444 00:23:29,480 --> 00:23:33,040 Speaker 2: to the Australian Bureau Statistics their September quarter figures. Now 445 00:23:33,040 --> 00:23:36,800 Speaker 2: the National Housing Accord its goal one point two million 446 00:23:36,880 --> 00:23:39,160 Speaker 2: homes over five years from the middle of last year. 447 00:23:39,520 --> 00:23:42,119 Speaker 2: Canber's paying three and a half billion dollars to states, 448 00:23:42,240 --> 00:23:44,960 Speaker 2: territories and local governments to get it done. That means 449 00:23:44,960 --> 00:23:48,639 Speaker 2: you need sixty thousand a quarter. Started off at forty 450 00:23:48,720 --> 00:23:53,000 Speaker 2: three thousand a quarter. Not so good the sleeper part. 451 00:23:53,880 --> 00:23:57,560 Speaker 2: On Friday, the government announced ten thousand dollars bonus to 452 00:23:57,560 --> 00:24:02,639 Speaker 2: apprentices who work in the residential building sector. What is 453 00:24:02,720 --> 00:24:05,480 Speaker 2: one of the prime reasons we can't get homes built 454 00:24:05,640 --> 00:24:08,159 Speaker 2: and the cost of home building is so expensive? Not 455 00:24:08,560 --> 00:24:12,199 Speaker 2: enough tradees Now, this ten thousand dollars bonus is a 456 00:24:12,240 --> 00:24:15,399 Speaker 2: lot of money for a man or woman who earns 457 00:24:15,440 --> 00:24:19,760 Speaker 2: around fifty thousand dollars a year. It's a big challenge 458 00:24:19,880 --> 00:24:24,520 Speaker 2: to build those sixty thousand houses a quarter. The government 459 00:24:24,640 --> 00:24:28,920 Speaker 2: is out there trying to boost its prospects of achieving it, 460 00:24:28,960 --> 00:24:32,119 Speaker 2: and I think helping tradees is a really smart way 461 00:24:32,520 --> 00:24:36,320 Speaker 2: of doing it. This month, so over the last week, 462 00:24:36,320 --> 00:24:38,760 Speaker 2: the Prime ministers, I think it's about fifteen billion dollars 463 00:24:39,280 --> 00:24:42,840 Speaker 2: in new spending promises. But the fact that he's actually 464 00:24:42,880 --> 00:24:47,639 Speaker 2: targeting a group like the apprentices to somehow achieve the 465 00:24:47,680 --> 00:24:51,520 Speaker 2: goal of building the sixty thousand houses a quarter. I 466 00:24:51,600 --> 00:24:54,199 Speaker 2: kind of like the idea without being political about it 467 00:24:54,240 --> 00:24:57,040 Speaker 2: at all, But we just haven't heard anything about it, 468 00:24:57,040 --> 00:25:00,720 Speaker 2: Like it's a very it's kind of very sly is 469 00:25:00,720 --> 00:25:02,560 Speaker 2: a negative, and I don't mean that in any way. 470 00:25:02,920 --> 00:25:07,760 Speaker 2: It's just gone over underground way of hopefully achieving their goal. 471 00:25:08,359 --> 00:25:14,359 Speaker 4: Adam Okay, homes, lack of homes being built affects everybody. 472 00:25:15,480 --> 00:25:16,119 Speaker 3: Sean Wins. 473 00:25:16,400 --> 00:25:19,960 Speaker 4: So, Michael, this is a big sleeper story the payment 474 00:25:20,000 --> 00:25:23,520 Speaker 4: systems and searcharges, but it's actually a pretty small kind 475 00:25:23,560 --> 00:25:27,720 Speaker 4: of rounding error on many transactions, and it is important, 476 00:25:27,800 --> 00:25:29,399 Speaker 4: but in a small skull. 477 00:25:29,760 --> 00:25:32,520 Speaker 1: Tell that to the poor international traveler who's just paid 478 00:25:32,560 --> 00:25:34,480 Speaker 1: two and a half thousand dollars for an all inclusive 479 00:25:34,640 --> 00:25:38,120 Speaker 1: parents slugged the business class traveler and has been slugged. 480 00:25:38,359 --> 00:25:44,320 Speaker 1: Are whopping twenty four dollars, Adam, please. 481 00:25:44,119 --> 00:25:45,119 Speaker 3: Out of two and a half. 482 00:25:46,040 --> 00:25:49,760 Speaker 4: Sorry for not paying enough attention to those poor, weary travelers. 483 00:25:50,160 --> 00:25:54,960 Speaker 4: But Sean, in an election year increased investment trading bonus great, 484 00:25:55,320 --> 00:25:58,560 Speaker 4: But we are so far behind on infrastructure. It is 485 00:25:58,680 --> 00:26:01,600 Speaker 4: sucking up trades all over the country, and we're really 486 00:26:01,640 --> 00:26:05,399 Speaker 4: doing nothing to improve the supply of land for development 487 00:26:05,440 --> 00:26:08,719 Speaker 4: through those three layers of government federal, state, and local. 488 00:26:08,960 --> 00:26:11,040 Speaker 4: So it's kind of token is stic and I'm a 489 00:26:11,040 --> 00:26:14,720 Speaker 4: bit cynical about it. So I think it's very very important. 490 00:26:14,760 --> 00:26:17,200 Speaker 4: But to simple point, there's not enough homes being built, 491 00:26:17,200 --> 00:26:19,240 Speaker 4: which is your sleep story, and I think it's a 492 00:26:19,359 --> 00:26:20,280 Speaker 4: sleep story of the week. 493 00:26:21,080 --> 00:26:23,560 Speaker 1: This isn't looking good for me, Sean two point four 494 00:26:23,600 --> 00:26:24,720 Speaker 1: to one two point six. 495 00:26:24,800 --> 00:26:26,919 Speaker 2: I think it's all right. What I like, though, Adam, 496 00:26:27,000 --> 00:26:29,200 Speaker 2: is that you've gone back to form in your judging. 497 00:26:29,880 --> 00:26:31,560 Speaker 2: It made my story a hell of a lot better 498 00:26:31,560 --> 00:26:32,080 Speaker 2: than what it was. 499 00:26:32,280 --> 00:26:34,680 Speaker 3: Thank you, and reveal a bit of my own bias. 500 00:26:34,440 --> 00:26:39,480 Speaker 1: Subjective bias cock Sean, give us your favorite story. 501 00:26:39,640 --> 00:26:44,200 Speaker 2: Mine's just purely voyeurism. The nineteen sixty nine Porsche as 502 00:26:44,200 --> 00:26:46,240 Speaker 2: You Worked Out How You Use It, used by Steve 503 00:26:46,320 --> 00:26:50,720 Speaker 2: McQueen in the film Lamon in nineteen seventy one, currently 504 00:26:50,760 --> 00:26:54,399 Speaker 2: owned by Jerry Fine Seinfeld, went to auction. It was 505 00:26:54,440 --> 00:26:56,520 Speaker 2: took off. It was taken off the market when the 506 00:26:56,520 --> 00:27:00,920 Speaker 2: bidding got to forty million US dollars. It's one of 507 00:27:00,920 --> 00:27:04,160 Speaker 2: the most recognizable Porsches in history. A Porsche nine one 508 00:27:04,200 --> 00:27:08,960 Speaker 2: seven K would have been one of the most, well 509 00:27:09,040 --> 00:27:12,639 Speaker 2: the most expensive Porsche certainly ever sold, if it had sold. 510 00:27:13,080 --> 00:27:15,919 Speaker 2: There was a big auction in Florida last weekend, forty 511 00:27:15,960 --> 00:27:19,879 Speaker 2: three hundred vehicles. Bidding began twenty one million dollars for 512 00:27:19,920 --> 00:27:23,000 Speaker 2: this one. No one quite knows why it was taken 513 00:27:23,040 --> 00:27:25,320 Speaker 2: off the market at forty million dollars. Jerry Seinfeld brought 514 00:27:25,320 --> 00:27:28,160 Speaker 2: it for about six million dollars more than twenty years ago. 515 00:27:29,080 --> 00:27:31,240 Speaker 2: The highest seller on the day was a nineteen sixty 516 00:27:31,240 --> 00:27:34,719 Speaker 2: six four GT forty four eleven million dollars. But my 517 00:27:34,760 --> 00:27:38,199 Speaker 2: favorite the nineteen sixty seven Jaguar ed Type Roadstar that 518 00:27:38,359 --> 00:27:40,640 Speaker 2: was the one used in the Austin Powers movies. It 519 00:27:40,720 --> 00:27:47,360 Speaker 2: was otherwise known as the Shaguar from Austin Powers. Did 520 00:27:47,440 --> 00:27:54,080 Speaker 2: you know the most expensive car ever sold? So it 521 00:27:54,119 --> 00:27:56,159 Speaker 2: was a nineteen to fifty five car, Adam, You've got 522 00:27:56,200 --> 00:28:00,359 Speaker 2: to guess the brand it was sold in many that 523 00:28:00,400 --> 00:28:06,960 Speaker 2: might give Mercedes Goldwing. It's Mercedes what gold wing? Yes 524 00:28:07,000 --> 00:28:08,719 Speaker 2: it is, it is. That's actually not the probably name 525 00:28:08,760 --> 00:28:08,920 Speaker 2: of it. 526 00:28:09,000 --> 00:28:09,919 Speaker 3: The gol wing that comes out. 527 00:28:10,000 --> 00:28:12,320 Speaker 2: Yeah, besides yeah, yeah, yeah, yeah, yeah, well done. One 528 00:28:12,400 --> 00:28:15,880 Speaker 2: hundred and forty two million US dollars there you got 529 00:28:15,920 --> 00:28:19,360 Speaker 2: nine fifty five exception pretty incredible. There's only two, there's 530 00:28:19,359 --> 00:28:22,520 Speaker 2: only two. Well, the one that was sold was one 531 00:28:22,520 --> 00:28:25,520 Speaker 2: of two prototypes and so only two were ever made, 532 00:28:25,680 --> 00:28:28,880 Speaker 2: and Mercedes has the other one. That's oh yeah. Pure 533 00:28:28,960 --> 00:28:31,400 Speaker 2: Voya is in this week for me, and particularly after 534 00:28:31,400 --> 00:28:33,440 Speaker 2: a Donald Trump week, you just sort of need to 535 00:28:33,440 --> 00:28:37,720 Speaker 2: get away from it. That's what I find. Like Saturday morning, 536 00:28:37,800 --> 00:28:39,840 Speaker 2: I just I can't. I can't do Trump for the 537 00:28:39,840 --> 00:28:42,240 Speaker 2: next two days. I've just love Fortunately it's a long weekend. 538 00:28:42,920 --> 00:28:46,360 Speaker 2: I just I need a break. Michael love it to you. 539 00:28:47,640 --> 00:28:50,800 Speaker 1: How could I not talk about airlines? My favorite story, 540 00:28:51,360 --> 00:28:53,920 Speaker 1: especially when especially. 541 00:28:53,440 --> 00:28:55,760 Speaker 2: Welcome back to fearing greed weekend edition. 542 00:28:55,880 --> 00:29:00,800 Speaker 1: Especially when there has been so much going on this week. 543 00:29:00,880 --> 00:29:05,440 Speaker 1: This has been the biggest week for airlines since the 544 00:29:05,480 --> 00:29:08,000 Speaker 1: Wright Brothers took to the skies in nineteen oh three. 545 00:29:08,120 --> 00:29:09,080 Speaker 3: Wilver and Orville. 546 00:29:09,320 --> 00:29:13,680 Speaker 1: Yep, there is a chance of might be exaggerate. 547 00:29:14,000 --> 00:29:16,120 Speaker 2: No, no, no, I don't think so. No, no, no, 548 00:29:16,200 --> 00:29:16,560 Speaker 2: go on. 549 00:29:16,640 --> 00:29:21,800 Speaker 1: Well let me tell you it is pretty much just 550 00:29:21,800 --> 00:29:24,160 Speaker 1: a shopping I'll just have to list them. There is 551 00:29:24,200 --> 00:29:26,640 Speaker 1: that much stuff that happened this week across a range 552 00:29:26,640 --> 00:29:30,000 Speaker 1: of different stories, a range of different airlines. Quantus overhauled 553 00:29:30,000 --> 00:29:32,760 Speaker 1: its frequent Flyer program. You're going to need more points 554 00:29:32,760 --> 00:29:34,480 Speaker 1: to travel on certain routes, but it's going to be 555 00:29:34,560 --> 00:29:37,320 Speaker 1: easier to use your points on partner airlines. Great news 556 00:29:37,320 --> 00:29:39,800 Speaker 1: for the international travelers who are sick and tired of 557 00:29:39,800 --> 00:29:46,000 Speaker 1: being a slug that twenty four dollars on their checkoud purchases. Quantis' 558 00:29:46,080 --> 00:29:49,360 Speaker 1: share price hit a record high this week. Hey, write 559 00:29:49,400 --> 00:29:52,840 Speaker 1: that one down, Adam. You're not writing anything down right now, 560 00:29:52,920 --> 00:29:53,200 Speaker 1: are you? 561 00:29:53,680 --> 00:29:54,640 Speaker 3: Okay? That's fine. 562 00:29:54,680 --> 00:29:56,840 Speaker 4: Sorry, Well, the things that I know so well I 563 00:29:56,880 --> 00:29:58,400 Speaker 4: don't take note of, but I will. 564 00:29:58,520 --> 00:30:02,360 Speaker 1: I will, Okay, Please write that fontis write the right 565 00:30:02,440 --> 00:30:07,239 Speaker 1: brothers down as well. The federal government and Orville is 566 00:30:07,520 --> 00:30:10,000 Speaker 1: going to pay RES. Now this is a serious and 567 00:30:10,040 --> 00:30:15,080 Speaker 1: a very interesting story. The federal Government's going to pay 568 00:30:15,080 --> 00:30:18,960 Speaker 1: REX Regional Express another fifty million dollars to keep operating 569 00:30:19,000 --> 00:30:23,560 Speaker 1: in rural Australia. The total funding now from the government 570 00:30:24,080 --> 00:30:29,440 Speaker 1: for the airline that collapsed last year one hundred and 571 00:30:29,440 --> 00:30:33,320 Speaker 1: thirty million dollars. The government is now the biggest creditor. 572 00:30:34,000 --> 00:30:35,360 Speaker 1: And of course I have to kind of do this 573 00:30:35,480 --> 00:30:38,600 Speaker 1: because because REX has a kind of a social kind 574 00:30:38,600 --> 00:30:40,960 Speaker 1: of purpose, it's got a value there. It needs to 575 00:30:41,040 --> 00:30:43,440 Speaker 1: keep Australia connected. So you can understand why this is 576 00:30:43,480 --> 00:30:45,240 Speaker 1: going on. But that is a lot of money, a 577 00:30:45,240 --> 00:30:50,800 Speaker 1: lot of money. Airlines on time statistics are improving better 578 00:30:50,800 --> 00:30:53,840 Speaker 1: than twenty twenty two, better than twenty twenty three. Quantus 579 00:30:53,880 --> 00:30:57,960 Speaker 1: at seventy five percent, Jetstar seventy three percent, Virgin seventy 580 00:30:58,000 --> 00:31:00,280 Speaker 1: two percent. It's still quite extraordinary to think that you 581 00:31:00,280 --> 00:31:02,240 Speaker 1: were saying that twenty eight percent of flights are not 582 00:31:02,280 --> 00:31:03,320 Speaker 1: actually running on time. 583 00:31:04,560 --> 00:31:07,600 Speaker 3: It's just anyway, and the other long impact of them 584 00:31:07,640 --> 00:31:08,640 Speaker 3: and everything else. 585 00:31:09,120 --> 00:31:12,080 Speaker 1: Absolutely, and the fact that everyone knows that they need 586 00:31:12,120 --> 00:31:14,600 Speaker 1: to build in if you're flying, if you're going somewhere 587 00:31:14,600 --> 00:31:16,480 Speaker 1: for a meeting, you need to build in a buffer 588 00:31:16,880 --> 00:31:20,320 Speaker 1: like I've kind of a day a day, right, And 589 00:31:20,360 --> 00:31:24,440 Speaker 1: the impact on broader efficiency or I found something here, 590 00:31:26,600 --> 00:31:30,680 Speaker 1: you're onto us the impact on broader efficiency and productivity 591 00:31:30,680 --> 00:31:36,160 Speaker 1: within Australian businesses. Goodness me, pull up your socks Australian 592 00:31:36,200 --> 00:31:40,600 Speaker 1: Airlines and let's hit ninety percent on time performance. That's 593 00:31:40,640 --> 00:31:42,800 Speaker 1: Fear and rereads new campaign for this year. Something that 594 00:31:42,800 --> 00:31:45,360 Speaker 1: we can have absolutely no impact on the thing is 595 00:31:45,400 --> 00:31:48,000 Speaker 1: they need more planes, they need newer planes to help 596 00:31:48,080 --> 00:31:50,360 Speaker 1: kind of meet demand. That's Quantus in particular. The average 597 00:31:50,400 --> 00:31:54,000 Speaker 1: fleet age for Quantus is sixteen years old. 598 00:31:54,440 --> 00:31:55,080 Speaker 2: That we learned this. 599 00:31:55,360 --> 00:31:59,040 Speaker 1: Most Quantius planes would legally be allowed to drive if 600 00:31:59,240 --> 00:32:05,760 Speaker 1: they could and drink odd and vote indeed, yeah, and 601 00:32:05,800 --> 00:32:10,640 Speaker 1: you do not want your plane going out drinking. Ticket 602 00:32:10,680 --> 00:32:14,280 Speaker 1: prices was six percent lower in December than they were 603 00:32:14,320 --> 00:32:18,160 Speaker 1: the previous So much stuff happened this week in airlines 604 00:32:18,200 --> 00:32:22,600 Speaker 1: and aircraft. You know why do you know why I 605 00:32:22,760 --> 00:32:25,240 Speaker 1: like including airlines and aircraft stories. 606 00:32:24,960 --> 00:32:26,240 Speaker 3: And getting a picture. 607 00:32:27,160 --> 00:32:31,080 Speaker 1: It is because there is something about air travel that 608 00:32:31,240 --> 00:32:36,960 Speaker 1: is truly exotic. And I said exotic, not erotic, just 609 00:32:37,000 --> 00:32:40,000 Speaker 1: in case you misheard me. The thing is that that's 610 00:32:40,000 --> 00:32:43,240 Speaker 1: what this show needs. It needs something a little bit exotic. 611 00:32:43,360 --> 00:32:46,520 Speaker 1: It needs that kind of It doesn't need anything erotic 612 00:32:46,600 --> 00:32:46,920 Speaker 1: there is. 613 00:32:46,880 --> 00:32:51,560 Speaker 2: So we have the sex taplet but for that the sex. 614 00:32:51,640 --> 00:32:57,400 Speaker 1: But anyway, on that note, aircraft airlines. 615 00:32:56,960 --> 00:33:00,920 Speaker 2: Huge week aircraft. That just reminds me. Do you know 616 00:33:00,960 --> 00:33:06,680 Speaker 2: who the first employer of Nancy bird Walton was? So 617 00:33:06,840 --> 00:33:09,840 Speaker 2: Nancy bird Walton she was actually trained in part by 618 00:33:09,920 --> 00:33:14,400 Speaker 2: Charles Kingsford Smith and the first organization to employ her 619 00:33:14,640 --> 00:33:17,160 Speaker 2: to fly a plane in western New South Wales. Do 620 00:33:17,200 --> 00:33:18,240 Speaker 2: you have any idea who it is? 621 00:33:19,600 --> 00:33:20,160 Speaker 3: In the rest? 622 00:33:22,600 --> 00:33:27,200 Speaker 2: Royal Far West, Royal Far West, the first organization And 623 00:33:27,240 --> 00:33:28,120 Speaker 2: do you know why? I know that? 624 00:33:29,720 --> 00:33:30,000 Speaker 3: Adam? 625 00:33:30,040 --> 00:33:33,240 Speaker 2: This week? This week I completed a book on Royal 626 00:33:33,280 --> 00:33:36,200 Speaker 2: far West. I wrote the last words. This week it's 627 00:33:36,200 --> 00:33:42,200 Speaker 2: one hundred Road to Bonny twenty five yep. And this 628 00:33:42,240 --> 00:33:45,480 Speaker 2: is its one hundred year anniversary. And I learned all 629 00:33:45,520 --> 00:33:48,800 Speaker 2: about Nancy bird Walton being a guy called Stanley Drummond, 630 00:33:49,240 --> 00:33:52,480 Speaker 2: a reverend from Cooba. He realized that people further out 631 00:33:52,480 --> 00:33:55,680 Speaker 2: western Koba and New South Wales needed help. Got Nancy 632 00:33:55,720 --> 00:33:58,240 Speaker 2: bird Walton said, can you fly? She was a woman, 633 00:33:58,280 --> 00:34:02,440 Speaker 2: which was unusual. The mayor of Koba sold these taxi business, 634 00:34:02,440 --> 00:34:05,040 Speaker 2: bought a plane, guy called sid Coleman. He didn't want 635 00:34:05,080 --> 00:34:07,720 Speaker 2: to fly anymore. Nancy bird Walton flew it. And she 636 00:34:07,880 --> 00:34:12,040 Speaker 2: used to use well roads or fencing basically to navigate 637 00:34:12,200 --> 00:34:15,280 Speaker 2: where she was going in western New South Wales and. 638 00:34:15,719 --> 00:34:18,480 Speaker 4: Literally down to the sky, from the sky to the 639 00:34:18,480 --> 00:34:19,879 Speaker 4: ground going okay, oh my. 640 00:34:20,360 --> 00:34:22,239 Speaker 2: And she'd get there there'd be a nurse with her 641 00:34:22,480 --> 00:34:25,920 Speaker 2: help nursing mothers help babies. Like phenomenal story. 642 00:34:26,160 --> 00:34:27,640 Speaker 1: That is extraordinary. 643 00:34:28,320 --> 00:34:30,880 Speaker 2: When's the book out March? 644 00:34:32,280 --> 00:34:33,839 Speaker 3: That's quick soon? 645 00:34:33,960 --> 00:34:36,120 Speaker 2: Yeah, well, I spent last year doing it, so it's 646 00:34:36,120 --> 00:34:37,640 Speaker 2: sort of been a bit of. 647 00:34:37,600 --> 00:34:40,080 Speaker 3: A eblished as well. That's brilliant. 648 00:34:40,440 --> 00:34:43,600 Speaker 2: Oh no, no, no, it's all like ROTHERI West is publishing it. 649 00:34:43,600 --> 00:34:49,600 Speaker 2: It's not you know, like books. Yeah, it's a picture book. 650 00:34:49,640 --> 00:34:50,799 Speaker 2: Lots of good pictures in it. 651 00:34:51,280 --> 00:34:53,879 Speaker 1: That is amazing. And you know what I love most 652 00:34:53,880 --> 00:34:55,720 Speaker 1: about this is that you've added a bit of color 653 00:34:55,880 --> 00:34:58,720 Speaker 1: and you've added added a charitable element to my story. 654 00:34:58,800 --> 00:34:59,200 Speaker 2: That's right. 655 00:34:59,200 --> 00:35:01,520 Speaker 1: And I'm not sure the points because I suspect I 656 00:35:01,640 --> 00:35:02,600 Speaker 1: might have won this one. 657 00:35:04,760 --> 00:35:08,160 Speaker 4: Ad Yeah, Michael, you did win this one. There was 658 00:35:08,160 --> 00:35:10,640 Speaker 4: a little bit of daylight in it too, so you've 659 00:35:10,640 --> 00:35:14,879 Speaker 4: come home strong now, rightly or wrongly, I've given zero 660 00:35:15,040 --> 00:35:17,719 Speaker 4: points for the first story to each of you. So 661 00:35:17,760 --> 00:35:20,440 Speaker 4: it's out of seventy five and not one hundred. Is 662 00:35:20,440 --> 00:35:21,120 Speaker 4: that acceptable? 663 00:35:21,400 --> 00:35:23,319 Speaker 2: Well? Can you give us twenty five points each? I 664 00:35:23,440 --> 00:35:24,959 Speaker 2: just prefer to sound better? 665 00:35:25,040 --> 00:35:28,160 Speaker 1: Okay? Yeah, actually, yeah, it's a better, better cut of yeasure. 666 00:35:28,400 --> 00:35:31,760 Speaker 2: Then, oh my god, it's taken. Put another three minutes 667 00:35:31,800 --> 00:35:32,239 Speaker 2: on the show. 668 00:35:33,760 --> 00:35:37,080 Speaker 1: My poor aching brain will undo all my efforts to 669 00:35:37,120 --> 00:35:37,960 Speaker 1: get this done quickly. 670 00:35:38,000 --> 00:35:42,000 Speaker 4: Two point four to Sean in the story points and 671 00:35:42,080 --> 00:35:43,120 Speaker 4: one point six. 672 00:35:43,040 --> 00:35:47,279 Speaker 2: To Michael landslide clear winner. We don't need we don't 673 00:35:47,280 --> 00:35:47,960 Speaker 2: need the points. 674 00:35:49,560 --> 00:35:53,040 Speaker 4: Let's hear the points here, Adam dead heat ninety one 675 00:35:53,040 --> 00:35:53,600 Speaker 4: points each. 676 00:35:56,000 --> 00:35:59,959 Speaker 1: Yeah, oh I'll take that. God, I was so close 677 00:36:00,160 --> 00:36:03,280 Speaker 1: actually doing the the rare kind of reverse victory. 678 00:36:03,480 --> 00:36:05,799 Speaker 4: Well, the Chawn's favorite story is a ripper, you know, 679 00:36:05,840 --> 00:36:10,480 Speaker 4: the Porsche from Lemon's and the Shagure. But the airline 680 00:36:10,560 --> 00:36:13,040 Speaker 4: story to me is my favorite. 681 00:36:13,040 --> 00:36:18,080 Speaker 1: Two vastly superior. Indeed, Yes, that's okay, two point four 682 00:36:18,120 --> 00:36:20,320 Speaker 1: to one points. It's probably one of the more unusual scores. 683 00:36:20,320 --> 00:36:22,200 Speaker 3: We will get unprecedented. 684 00:36:22,960 --> 00:36:25,040 Speaker 2: Well, I do think I did think last year when 685 00:36:25,120 --> 00:36:28,239 Speaker 2: Canon was judging, you got minus one or something like that. 686 00:36:28,360 --> 00:36:31,239 Speaker 1: That's probably my favorite was the one where I got 687 00:36:31,239 --> 00:36:33,640 Speaker 1: to judge and I judged the two of you and 688 00:36:33,760 --> 00:36:37,440 Speaker 1: I handed out so many demerit points and bonus points 689 00:36:37,800 --> 00:36:39,040 Speaker 1: and you guys just. 690 00:36:39,840 --> 00:36:43,200 Speaker 2: Very that's very Trumpian. My favorite was when I was 691 00:36:43,200 --> 00:36:44,120 Speaker 2: a judge. 692 00:36:45,280 --> 00:36:47,360 Speaker 1: You know what, it brought theoters to the judging. 693 00:36:47,640 --> 00:36:48,799 Speaker 2: That's true, it's just. 694 00:36:48,719 --> 00:36:51,040 Speaker 1: And it was like it stands out in probably the 695 00:36:51,600 --> 00:36:53,640 Speaker 1: memories of most listeners. 696 00:36:53,600 --> 00:36:56,920 Speaker 3: Anyway, pomp ceremony, ye, all of it. 697 00:36:57,080 --> 00:36:59,799 Speaker 1: Thank you very much, Sean, congratulations on your win. 698 00:37:00,000 --> 00:37:01,520 Speaker 2: Thanks Michael, Thanks Adam, Thank. 699 00:37:01,360 --> 00:37:02,360 Speaker 3: You, Adam, thank you. 700 00:37:02,719 --> 00:37:05,040 Speaker 1: Make sure you're following the podcast and please join us 701 00:37:05,040 --> 00:37:09,000 Speaker 1: online on LinkedIn, Instagram, TikTok, Facebook, and X. I'm Michael Thompson. 702 00:37:09,120 --> 00:37:11,320 Speaker 1: And that was fear and great. Have a great weekend.