Historically, there has been a vanity aspect to owning both of Australia’s major alpine resorts, Thredbo and Perisher. But global warming has melted their appeal.
By the end of James Hardie’s 17-minute AGM, chair Anne Lloyd and two fellow directors had lost their jobs. As far as shareholder protests go, this was one for the history books.
Investors are looking through the retail gloom and anticipating how cyclical companies will fare when inflation is a memory and interest rates start to fall.
While Premier Investments’ profits held up better than most discretionary retailers, not even his well-oiled business can escape the economic backdrop.
Gaming and pub king Bruce Mathieson didn’t get rich overpaying for assets, and clearly thinks there is money to be made in Australians’ love of a punt and a drink.
