won't confess its sins, by Michael West - 7th December
(Mediaman director, Greg Tingle, quoted)
HARD ... ahem ... on the heels
of last week's story that SinTel Optus had been
sued by client and international pornographer
Gilsan, it was time to find out how much money
SinTel actually made from 'adult services'.
public relations department was naturally over
the moon to hear from us on an issue of such public
attribute to an Optus spokesperson. Optus does
not break down its revenue by product category.
We can say that adult services account for only
a fraction of 1 per cent of our revenue. Optus
strictly complies with the regulatory requirements
regarding adult services in Australia'.
it's a fraction of $60 million, $59.9million perhaps,
though, er, well-connected sources doubt whether
this figure would address the throbbing revenue
contribution from porn-related visitations on
former Optus and Telstra 'salesperson of the month',
Greg Tingle, reckons 'Optus and Telstra generate
at least 20 per cent of their business via adult-related
does sound a tad humungous. We didn't call Telstra
about adult services revenue because it took 129
days for its PR department to tell us how many
PRs Telstra had in its PR department. So, by the
time Telstra had established a special PR taskforce
to deliberate on how to not give us an answer,
the internet would have been obsolete.
Maccas to the rescue
from Sunday morning's Inside Business show on
the ABC. A quote from Denise Brailey, who has
been running seminars for victims of property
spruikers: 'Certainly, we've got a couple of wins
with St George Bank now. It's obvious there are
a lot of other ... victims out there. ASIC aren't
(sic) doing anywhere near enough for what we need
them (sic) to do on these matters and we did say
last broadcast (sic) that we would hold a seminar,
'How to steal $500 million in 12 months and get
away with it'. So we had to look at funding to
do that and I'm pleased to announce that Macquarie
Bank have (sic) decided to assist us.'
take the cake
bravo to the Warburglers, too, which trumped MacBank
this year in the Bloomberg dealmaking stakes.
From $US102 billion ($131 billion) in announced
merger and acquisitions in Australia, the Burglers
had a role in 46 deals valued at $US63.1 billion,
versus 42 deals worth $US45.7 million for Maccas.
JP Morgan, which has built up its team under ex-Burgler
gangleader Andy Pridham, was third.
Macquarie and the Burglers share many deals, Australia
has quite the merchant banking duopoly -- a duopoly
that would even attract the eye of Big Graeme
at the ACCC were not the barriers to entry so
low. So very low. (Infrastructure: a mouth and
to Freeman & Co, a New York research firm,
the $US66 billion in completed deals during the
first nine months of this year generated $US544
million in fees to the impoverished merchant banking
sector. Yet the startling point in the Bloomberg
survey was that M&A activity in Australia
was higher, in dollar terms, than in Japan.
deal good as gold
Hodgson won't have much trouble flogging Sons
of Gwalia's gold and tantalum assets, now that
Sons' shareholders have been excoriated.
Burglers are presiding over the sale of the tantalum
operations and Maccas the gold. And now that former
boss of Macquarie's corporate arm, Johnnie Calden,
has moved to 13 per cent of Haddington Resources,
Haddington's got to be a good bet for the tantalum.
You'd think the House of Sachs would have had
a role, given it was Sons' greatest supporter
-- until it slunk off the register under the guise
of 'Wellington', or something like that, before
Sons bit the dust. Elsewhere, WA goldie Northwest
Resources debuted at a 50 per cent premium yesterday,
having pursued a no-WA brokers distribution policy
so the stock didn't get slammed from day one.
real estate, Lion Equities has transubstantiated
into Jackgreen. Betting there are enough colour-blind
customers willing to buy 'green' electricity,
the lads are selling 22 million shares at 20c
apiece. But that only accounts for 26.67 per cent
of the capital because the boys have 43.5 million.
Whether it's worth buying this business we know
not, but there are more related-party transactions
than a Greek wedding in that old prospectus.
heart of silence
heart maker Ventracor has taken four days to not
confirm that an implant patient has died at St
Vincent's Hospital. Ventracor has a regulatory
trial going for its heart device with 30-50 patients
whose results won't be known until mid next year.
The patient in question survived only a few days.
activites at Kings Cross
Tingle - John Laws - 31st July 2002 audio