There were no traffic jams on the drive to Flemington last Saturday, the Spring Racing Carnival the latest non-event in Melbourne's dismally reduced social calendar. Tragic really: for once the weather was lovely.

You'd usually expect many of the nation's top corporate directors to be in town, unwinding after the AGM season. One that promises to be as taxing as usual next year, given Josh Frydenberg's signal that he wouldn't push for the virtual-only AGM model to be extended once the scourge of coronavirus has passed.