1 00:00:03,450 --> 00:00:06,079 Sean Aylmer: Welcome to the Fear and Greed Daily Interview. I'm Sean 2 00:00:06,090 --> 00:00:10,600 Sean Aylmer: Aylmer. Iconic Australian brand SPC found itself in the headlines 3 00:00:10,600 --> 00:00:13,280 Sean Aylmer: last month when it became the first company outside of 4 00:00:13,280 --> 00:00:16,860 Sean Aylmer: the health sector to require staff to be vaccinated against 5 00:00:16,880 --> 00:00:20,909 Sean Aylmer: COVID-19. Others, including Qantas and Virgin, have followed since then, 6 00:00:21,130 --> 00:00:24,459 Sean Aylmer: with many others expected to do the same. But SPC's 7 00:00:24,459 --> 00:00:27,800 Sean Aylmer: decision put it on a collision course with unions. I 8 00:00:27,800 --> 00:00:31,190 Sean Aylmer: wanted to speak to SPC CEO, Robert Giles, to see how 9 00:00:31,190 --> 00:00:34,199 Sean Aylmer: the company has weathered the storm, but also to get 10 00:00:34,199 --> 00:00:37,440 Sean Aylmer: an insight into the broader state of Australian manufacturing. Robert, 11 00:00:37,440 --> 00:00:38,179 Sean Aylmer: welcome to Fear and Greed. 12 00:00:38,699 --> 00:00:39,360 Robert Giles: Yeah, thanks Sean. 13 00:00:39,739 --> 00:00:43,000 Sean Aylmer: So what motivated your stance on vaccination? Why did you 14 00:00:43,690 --> 00:00:46,530 Sean Aylmer: take that leap to be the first non- healthcare group 15 00:00:46,699 --> 00:00:48,240 Sean Aylmer: to insist on vaccinations? 16 00:00:48,909 --> 00:00:51,940 Robert Giles: Yeah, Sean, it's a good question. I think the outbreak 17 00:00:51,940 --> 00:00:55,240 Robert Giles: that we're currently having in Shepparton at the moment is a good 18 00:00:55,240 --> 00:00:58,180 Robert Giles: illustration of what can happen to our business and to 19 00:00:58,180 --> 00:01:03,749 Robert Giles: our staff. So our first responsibility, and my accountability, is to 20 00:01:03,750 --> 00:01:06,630 Robert Giles: the safety and wellbeing of the staff on site, and 21 00:01:06,630 --> 00:01:10,240 Robert Giles: we needed to ensure that we provided that. And when 22 00:01:10,240 --> 00:01:13,950 Robert Giles: we come into our season for manufacturing, in December, we've 23 00:01:13,950 --> 00:01:16,319 Robert Giles: got to ensure that we can take all the produce 24 00:01:16,319 --> 00:01:19,069 Robert Giles: that the farmers have grown specifically for us, that we 25 00:01:19,069 --> 00:01:22,300 Robert Giles: can take that in and process it. And with the 26 00:01:22,380 --> 00:01:26,300 Robert Giles: current outbreak in Shepparton we've seen 56% of our staff in 27 00:01:26,300 --> 00:01:27,469 Robert Giles: two weeks isolation. 28 00:01:27,709 --> 00:01:31,160 Sean Aylmer: Wow. So what vaccination rates are you at at the moment? 29 00:01:31,450 --> 00:01:33,530 Robert Giles: Yeah, it's mixed at the moment. We're trying to get the clear 30 00:01:33,530 --> 00:01:37,149 Robert Giles: picture of all our staff. Our plant in Emu Plains 31 00:01:37,149 --> 00:01:39,729 Robert Giles: in Western Sydney, which has obviously gone through COVID issues 32 00:01:39,729 --> 00:01:42,709 Robert Giles: as well, we're up to 98% in terms of confirmation 33 00:01:42,709 --> 00:01:46,589 Robert Giles: of either one booked or an actual first or second 34 00:01:46,589 --> 00:01:51,519 Robert Giles: vaccination. So we're seeing that it can be successful. Our Shepparton facility we're 35 00:01:51,770 --> 00:01:54,520 Robert Giles: hovering around the 40% mark so far, but we're still 36 00:01:54,520 --> 00:01:56,350 Robert Giles: gathering the information. We've still had a lot of people 37 00:01:56,350 --> 00:01:59,760 Robert Giles: haven't replied to us, because the first requirement is to 38 00:01:59,760 --> 00:02:01,660 Robert Giles: have a booking by the 15th of September. 39 00:02:01,930 --> 00:02:03,820 Sean Aylmer: Okay. And of course in New South Wales it's a 40 00:02:03,820 --> 00:02:06,440 Sean Aylmer: lot easier actually to get a jab, particularly at Pfizer 41 00:02:06,450 --> 00:02:08,730 Sean Aylmer: jab, than it is in Victoria too, which must play 42 00:02:08,730 --> 00:02:09,829 Sean Aylmer: into some of those numbers. 43 00:02:10,150 --> 00:02:12,480 Robert Giles: Yeah, of course. And we're working with the local health 44 00:02:12,790 --> 00:02:15,919 Robert Giles: authorities, and communicating, and trying to help our staff if 45 00:02:15,919 --> 00:02:19,139 Robert Giles: that is the issue, of getting some time and also 46 00:02:19,139 --> 00:02:21,990 Robert Giles: accessibility to some of the vaccinations. 47 00:02:22,209 --> 00:02:25,570 Sean Aylmer: Okay. So generally, what has the response been from your 48 00:02:25,570 --> 00:02:28,550 Sean Aylmer: staff themselves, and then from the unions? 49 00:02:28,919 --> 00:02:33,549 Robert Giles: Yeah, from our staff it's been overwhelmingly supportive. They've welcomed 50 00:02:33,549 --> 00:02:36,350 Robert Giles: the fact that we're trying to make that workplace safe. 51 00:02:37,130 --> 00:02:40,029 Robert Giles: But we do have some detractors, of course, of people 52 00:02:40,030 --> 00:02:41,959 Robert Giles: who don't like being told what to do. And I 53 00:02:41,959 --> 00:02:45,299 Robert Giles: think that probably steps in first, before the actual... Whether 54 00:02:45,299 --> 00:02:46,910 Robert Giles: they were going to get the vaccination or not, they 55 00:02:46,910 --> 00:02:48,720 Robert Giles: like to go through their own timeframes. And that's why 56 00:02:48,720 --> 00:02:51,329 Robert Giles: we have made it a long timeframe in terms of 57 00:02:51,519 --> 00:02:54,950 Robert Giles: the end of November to have that second vaccination. We'll 58 00:02:54,950 --> 00:02:59,470 Robert Giles: work through those particular individuals as this consultation period continues. 59 00:03:00,010 --> 00:03:02,589 Robert Giles: But in terms of the union, it's been really disappointing 60 00:03:02,870 --> 00:03:04,810 Robert Giles: the reaction from the unions. We think they've got a 61 00:03:04,810 --> 00:03:06,790 Robert Giles: duty of care for all those members that are saying, " 62 00:03:06,790 --> 00:03:09,040 Robert Giles: Provide me a safe workplace, and I don't want to be 63 00:03:09,040 --> 00:03:12,339 Robert Giles: there if people are unvaccinated." But they seem to focus 64 00:03:12,340 --> 00:03:15,350 Robert Giles: on the few that may be impacted if their choice 65 00:03:15,429 --> 00:03:19,690 Robert Giles: necessitates they don't have future employment with us. So they 66 00:03:19,690 --> 00:03:22,799 Robert Giles: focus on the consultation period. We've proven many times that 67 00:03:22,799 --> 00:03:26,329 Robert Giles: we are within our obligations of consultation, and what we 68 00:03:26,329 --> 00:03:30,029 Robert Giles: are doing now is consulting with our employees. So we 69 00:03:30,030 --> 00:03:32,070 Robert Giles: still ask the union to work with us. I know 70 00:03:32,070 --> 00:03:35,160 Robert Giles: they're not against the vaccination, so work with us to 71 00:03:35,160 --> 00:03:37,100 Robert Giles: try and get everybody vaccinated so we can get out 72 00:03:37,100 --> 00:03:37,960 Robert Giles: of these lockdowns. 73 00:03:38,460 --> 00:03:40,960 Sean Aylmer: Okay. So has the heat gone out of the situation somewhat? 74 00:03:41,330 --> 00:03:46,499 Sean Aylmer: I congratulate you, Robert, on SPC being the first to 75 00:03:46,550 --> 00:03:50,410 Sean Aylmer: vocally take this stance. And others, obviously the airlines, it's 76 00:03:50,410 --> 00:03:53,030 Sean Aylmer: easier for them to fall into line, but I'm sure 77 00:03:53,030 --> 00:03:55,810 Sean Aylmer: lots of others will do that. And the miners and 78 00:03:55,810 --> 00:03:58,600 Sean Aylmer: the banks at the moment are doing on-site vaccinations. They 79 00:03:58,660 --> 00:04:01,339 Sean Aylmer: haven't quite mandated it. But even the New South Wales Premier, 80 00:04:01,339 --> 00:04:04,210 Sean Aylmer: Gladys Berejiklian, she hasn't mandated it, but she's pretty much 81 00:04:04,210 --> 00:04:07,339 Sean Aylmer: indicated that unless you're vaccinated you can't do certain things. 82 00:04:07,339 --> 00:04:09,490 Sean Aylmer: So good on you for taking that stance. Has the 83 00:04:09,490 --> 00:04:12,070 Sean Aylmer: heat going out of the situation now or is it still difficult? 84 00:04:12,530 --> 00:04:15,369 Robert Giles: No, I wouldn't say it's difficult. I think the conversation's 85 00:04:15,369 --> 00:04:19,570 Robert Giles: changing in the wider community. And listening to Dan Andrews 86 00:04:19,570 --> 00:04:22,989 Robert Giles: yesterday, talking about that it's now a pandemic amongst the 87 00:04:23,270 --> 00:04:26,969 Robert Giles: unvaccinated, I think starts to bring in that language. And 88 00:04:26,969 --> 00:04:29,950 Robert Giles: the people's freedoms, that they won't be able to participate 89 00:04:29,950 --> 00:04:32,300 Robert Giles: in, and how it affects them, not just for their 90 00:04:32,300 --> 00:04:35,010 Robert Giles: employment, but for so many other elements of their daily 91 00:04:35,010 --> 00:04:37,880 Robert Giles: lives. I think there's a lot of pressure on from 92 00:04:37,880 --> 00:04:40,529 Robert Giles: other sources, and outside of just what we've put in 93 00:04:40,529 --> 00:04:43,930 Robert Giles: place, to say that vaccination is the right step forward. 94 00:04:43,940 --> 00:04:46,869 Sean Aylmer: Okay. So just moving more broadly on to SPC. I 95 00:04:46,870 --> 00:04:48,520 Sean Aylmer: grew up on SPC, I've got to say. 96 00:04:48,520 --> 00:04:48,950 Robert Giles: Fantastic. 97 00:04:49,110 --> 00:04:52,390 Sean Aylmer: And it is an iconic brand. How has it fared during 98 00:04:52,390 --> 00:04:53,009 Sean Aylmer: the pandemic? 99 00:04:53,490 --> 00:04:55,799 Robert Giles: Yeah, it's been a really interesting time for SPC. We've 100 00:04:55,890 --> 00:04:58,900 Robert Giles: obviously under new ownership as of two years ago, being 101 00:04:58,900 --> 00:05:01,900 Robert Giles: sold by the Coca Cola Company. And a real turnaround 102 00:05:01,900 --> 00:05:04,550 Robert Giles: story you know, we've had our history of struggling through 103 00:05:04,610 --> 00:05:07,210 Robert Giles: the business model that was in place. And we've fared really 104 00:05:07,219 --> 00:05:10,659 Robert Giles: well out of the current situation. People are locked down 105 00:05:10,659 --> 00:05:13,159 Robert Giles: and they're having their baked bean jaffles for lunch and 106 00:05:13,240 --> 00:05:16,969 Robert Giles: their fruit for dessert. So pantry sales have really increased 107 00:05:17,330 --> 00:05:20,710 Robert Giles: consistently over this last 18 months. A massive spike when 108 00:05:20,710 --> 00:05:24,130 Robert Giles: it first launched in March and April, but people stayed 109 00:05:24,169 --> 00:05:27,000 Robert Giles: with our brands and our products. Our food service products have 110 00:05:27,000 --> 00:05:29,909 Robert Giles: been hit a little bit. So obviously with our restaurants 111 00:05:29,909 --> 00:05:33,249 Robert Giles: and other hospitals closed down in a lot of ways 112 00:05:33,650 --> 00:05:36,309 Robert Giles: meant that we've had some hits elsewhere. But yeah, we 113 00:05:36,310 --> 00:05:38,669 Robert Giles: ran out of fruit last year. We'll get close to 114 00:05:38,669 --> 00:05:41,729 Robert Giles: running out this year again, and where we're really looking 115 00:05:41,729 --> 00:05:43,700 Robert Giles: forward to the new season of getting the fruit off 116 00:05:43,700 --> 00:05:46,510 Robert Giles: the trees. So all looking good for SPC at the moment. 117 00:05:46,990 --> 00:05:50,279 Robert Giles: And we've also been busy acquiring, we've acquired three other 118 00:05:50,279 --> 00:05:51,810 Robert Giles: food companies in that time as well. 119 00:05:52,180 --> 00:05:53,839 Sean Aylmer: Stay with me, Robert, we'll be back in a minute. 120 00:05:59,150 --> 00:06:02,010 Sean Aylmer: My guest this morning is Robert Giles, Chief Executive Officer 121 00:06:02,169 --> 00:06:06,060 Sean Aylmer: of SPC. You mentioned earlier in the interview that December 122 00:06:06,060 --> 00:06:08,909 Sean Aylmer: is the time where the fruit arrives. I know nothing about 123 00:06:08,909 --> 00:06:12,039 Sean Aylmer: your industry, so I apologise, but spring presumably is a 124 00:06:12,039 --> 00:06:14,629 Sean Aylmer: time where lots of the fruit is picked, and then 125 00:06:14,630 --> 00:06:17,460 Sean Aylmer: it arrives. And I'm not quite sure what the process is, 126 00:06:17,460 --> 00:06:20,190 Sean Aylmer: but it's processed and canned. Is that your busy period, 127 00:06:20,560 --> 00:06:22,010 Sean Aylmer: December through to March or something? 128 00:06:22,200 --> 00:06:25,099 Robert Giles: That's right. So apricots are the first fruit that's ripe 129 00:06:25,099 --> 00:06:26,889 Robert Giles: and ready to come off the trees, and it normally happens 130 00:06:26,890 --> 00:06:30,669 Robert Giles: around Christmas. And then peaches is next, and that's normally 131 00:06:30,669 --> 00:06:33,240 Robert Giles: around Australia Day. And that runs for a couple of months. 132 00:06:33,240 --> 00:06:35,510 Robert Giles: And then we move into apples and pears. And then we've got 133 00:06:35,510 --> 00:06:38,789 Robert Giles: tomatoes that start in March, grown specifically for us. So yeah, 134 00:06:38,990 --> 00:06:42,409 Robert Giles: really right through from the end of December through to May 135 00:06:42,409 --> 00:06:45,060 Robert Giles: is our real busy period. And then we just continue 136 00:06:45,060 --> 00:06:47,729 Robert Giles: packing and labelling and making baked beans and spaghetti for the rest 137 00:06:47,729 --> 00:06:47,811 Robert Giles: of the year. 138 00:06:47,811 --> 00:06:50,779 Sean Aylmer: Okay. And so you mostly use local fruit? 139 00:06:51,299 --> 00:06:54,500 Robert Giles: Yeah, absolutely. So everything that's grown in the Goulburn Valley. All 140 00:06:54,500 --> 00:06:57,979 Robert Giles: those fruit I just mentioned are all grown locally in the 141 00:06:58,049 --> 00:06:58,620 Robert Giles: Goulburn Valley. 142 00:06:59,039 --> 00:07:01,909 Sean Aylmer: Great. And so, as a result, some of the supply 143 00:07:01,909 --> 00:07:05,260 Sean Aylmer: chain issues that have hit other organisations are probably less 144 00:07:05,690 --> 00:07:08,580 Sean Aylmer: relevant for you. Having said that, have you had enough pickers? 145 00:07:08,849 --> 00:07:11,050 Robert Giles: Yeah, pickers have been an issue, and it's something our 146 00:07:11,050 --> 00:07:14,410 Robert Giles: farmers work with, but we got all our fruit in 147 00:07:14,410 --> 00:07:18,260 Robert Giles: last year. Sometimes there was particular issues with the quality 148 00:07:18,260 --> 00:07:20,760 Robert Giles: or size that they were picking because they were inexperienced, 149 00:07:20,760 --> 00:07:23,760 Robert Giles: but in the main the farmers did a fantastic job to get all 150 00:07:23,760 --> 00:07:26,610 Robert Giles: the fruit that we needed. We're obviously a very secure 151 00:07:26,680 --> 00:07:29,210 Robert Giles: supply link for them, because they've had issues of getting 152 00:07:29,210 --> 00:07:32,660 Robert Giles: their fruit to international markets. So they really focused on 153 00:07:32,900 --> 00:07:34,989 Robert Giles: what we needed and were able to get us all the 154 00:07:34,989 --> 00:07:35,980 Robert Giles: fruit that we required. 155 00:07:36,239 --> 00:07:39,350 Sean Aylmer: I suppose what the last 18 months has shown us 156 00:07:39,350 --> 00:07:41,190 Sean Aylmer: is the importance of local food security. 157 00:07:41,550 --> 00:07:43,510 Robert Giles: Yeah, absolutely. I think it's really brought it to the 158 00:07:43,510 --> 00:07:46,960 Robert Giles: forefront. We took 40% more fruit last year out of the 159 00:07:47,110 --> 00:07:49,470 Robert Giles: Goulburn Valley than the year prior, which is great for 160 00:07:49,470 --> 00:07:51,750 Robert Giles: obviously the farmers and our business, but also shows that 161 00:07:51,750 --> 00:07:55,430 Robert Giles: the Australian community is demanding Australian produce. I think there's always been 162 00:07:55,430 --> 00:07:59,429 Robert Giles: an underlying buy Australian first, but sometimes the dollar speaks first. 163 00:08:00,470 --> 00:08:03,070 Robert Giles: Our competition seems to come out of fruit out of 164 00:08:03,070 --> 00:08:07,379 Robert Giles: China, or tomatoes out of China and Italy, and that 165 00:08:07,380 --> 00:08:11,100 Robert Giles: has been severely disrupted. We hear the Italians haven't got 166 00:08:11,100 --> 00:08:13,610 Robert Giles: a lot of stock for the following season. So it 167 00:08:13,610 --> 00:08:16,559 Robert Giles: gives us a real opportunity to get people into our 168 00:08:16,560 --> 00:08:18,830 Robert Giles: products, and it's our job to try and make sure 169 00:08:18,830 --> 00:08:20,050 Robert Giles: that they stay with our products. 170 00:08:20,410 --> 00:08:24,620 Sean Aylmer: Now, one thing that COVID seems to have done, and this is anecdotal, it's 171 00:08:24,620 --> 00:08:28,770 Sean Aylmer: helped the local manufacturing sector. Because the supply chain disruption 172 00:08:28,770 --> 00:08:31,179 Sean Aylmer: is one part of it, but it's also it seems 173 00:08:31,179 --> 00:08:35,209 Sean Aylmer: that wholesalers and retailers like the idea of knowing the 174 00:08:35,209 --> 00:08:39,300 Sean Aylmer: supplier, knowing the manufacturer, and actually having potentially more product 175 00:08:39,949 --> 00:08:41,849 Sean Aylmer: in the warehouse than they would have previously, in a just- in- time 176 00:08:41,850 --> 00:08:44,970 Sean Aylmer: environment. It augers well for manufacturing in Australia. 177 00:08:45,350 --> 00:08:47,280 Robert Giles: Yeah, it does. And we've had really good support from 178 00:08:47,280 --> 00:08:51,360 Robert Giles: our customers. We've always had strong relationships across our major retailers, 179 00:08:51,360 --> 00:08:53,900 Robert Giles: and they're really standing by our side at the moment. 180 00:08:54,280 --> 00:08:56,420 Robert Giles: And I think they also see the advantage of seeing 181 00:08:57,490 --> 00:09:00,339 Robert Giles: that supply link so close to them. There is massive 182 00:09:00,340 --> 00:09:05,349 Robert Giles: issues with getting containers out of the international scene, and 183 00:09:05,350 --> 00:09:08,969 Robert Giles: then they get delayed in the process. So whether it's cost or 184 00:09:08,970 --> 00:09:11,510 Robert Giles: time, dealing with people on the other side of the 185 00:09:11,510 --> 00:09:13,250 Robert Giles: world at the moment is really problematic. 186 00:09:13,770 --> 00:09:16,590 Sean Aylmer: So it's been a good couple of years for SPC. What next? 187 00:09:16,880 --> 00:09:20,170 Robert Giles: Yeah. We're in a stage of turnaround. So we are 188 00:09:20,370 --> 00:09:23,400 Robert Giles: very acquisitive. We're looking at companies at the moment to 189 00:09:23,400 --> 00:09:26,770 Robert Giles: acquire. We're going to be looking overseas in the European 190 00:09:26,770 --> 00:09:29,069 Robert Giles: area for companies to acquire that look a little bit 191 00:09:29,069 --> 00:09:32,270 Robert Giles: like us. So we're really in an expansion mode. We 192 00:09:32,270 --> 00:09:35,010 Robert Giles: want to build this business to a billion dollar plus 193 00:09:35,050 --> 00:09:39,040 Robert Giles: food company, and we're on track for that and working really 194 00:09:39,040 --> 00:09:39,540 Robert Giles: hard at it. 195 00:09:40,959 --> 00:09:45,170 Sean Aylmer: SPC is iconic in Australia. Can SPC be iconic in 196 00:09:45,170 --> 00:09:46,929 Sean Aylmer: France or Italy or Germany? 197 00:09:47,480 --> 00:09:49,750 Robert Giles: Yeah, we think it can. But we've also got many 198 00:09:50,020 --> 00:09:53,750 Robert Giles: brands in our stable, with our Goulburn Valley and our Ardmona. And the 199 00:09:53,750 --> 00:09:57,050 Robert Giles: brands that we choose to acquire overseas can fit into 200 00:09:57,050 --> 00:09:59,770 Robert Giles: the mix. We want to make sure that head office 201 00:09:59,770 --> 00:10:02,340 Robert Giles: is absolutely in Australia. We have strong roots in Australia 202 00:10:02,390 --> 00:10:06,010 Robert Giles: and a strong business here as a platform, but just 203 00:10:06,010 --> 00:10:08,579 Robert Giles: like companies like Nestle that are based out of Switzerland 204 00:10:08,780 --> 00:10:10,729 Robert Giles: but have a global reach, we don't think there's any 205 00:10:10,730 --> 00:10:13,670 Robert Giles: reason why Australian food companies couldn't emulate the same type 206 00:10:13,670 --> 00:10:14,510 Robert Giles: of strategy. 207 00:10:14,900 --> 00:10:17,609 Sean Aylmer: Okay. And then locally, how much bigger can you get 208 00:10:17,610 --> 00:10:18,340 Sean Aylmer: in Australia? 209 00:10:19,069 --> 00:10:21,150 Robert Giles: We think there's a lot of organic growth in what 210 00:10:21,150 --> 00:10:23,459 Robert Giles: we're doing at the moment, but we're looking at those 211 00:10:23,459 --> 00:10:26,150 Robert Giles: categories just around where we are. Where we want to 212 00:10:26,150 --> 00:10:29,099 Robert Giles: stay in agriculture, we want to stay from the farm 213 00:10:29,100 --> 00:10:32,219 Robert Giles: gate. But we think there's lots of opportunities, whether it's 214 00:10:32,220 --> 00:10:35,809 Robert Giles: in our fruit area, various products, with tomatoes, and we've 215 00:10:35,809 --> 00:10:39,559 Robert Giles: just recently acquired a frozen meals business, the one I 216 00:10:39,559 --> 00:10:42,979 Robert Giles: mentioned in Emu Plains which supplies the healthcare sector with 217 00:10:42,980 --> 00:10:45,740 Robert Giles: frozen meals, New South Wales Health in particular. We think 218 00:10:45,740 --> 00:10:47,900 Robert Giles: there's a lot of opportunities to grow in those type 219 00:10:47,900 --> 00:10:48,929 Robert Giles: of categories as well. 220 00:10:49,220 --> 00:10:51,579 Sean Aylmer: Okay. Robert, thank you very much for talking to Fear 221 00:10:51,579 --> 00:10:51,980 Sean Aylmer: and Greed. 222 00:10:52,480 --> 00:10:53,220 Robert Giles: You're welcome, Sean, nice to speak to you. 223 00:10:53,220 --> 00:10:57,650 Sean Aylmer: That was Robert Giles, CEO of SPC. This is the Fear and 224 00:10:57,650 --> 00:11:00,140 Sean Aylmer: Greed Daily Interview. Join me every morning for the full 225 00:11:00,140 --> 00:11:02,490 Sean Aylmer: Fear and Greed podcast, with all the business news you 226 00:11:02,490 --> 00:11:04,729 Sean Aylmer: need to know. I'm Sean Aylmer. Enjoy your day.