Aussie arts mafia and Simon Mordant open their wallets for Biennale

Cartoon: Peter Nicholson.

The Aussie arts mafia and their favourite investment banker, Luminis principal Simon Mordant, are out in force in Venice for the opening of our $7.5 million Biennale pavilion.

Mordant, the exhibition’s Australian commissioner, made redevelopment of the pavilion his baby. Along with his wife Catriona, Mordant rattled the can to make the Denton Corker Marshall-designed waterfront building a reality.

Arts Minister George Brandis was there, as the Feds via the Australia Council tipped in $1m. Mordant himself is believed to have chipped in $2m towards what is the only 21st century building in Venice.

Actress Cate Blanchett gave some cash, along with others believed to include gallery owner Anna Schwartz (wife of developer Morry), Sydney doctor and art collector Dick Quan, gallery owners Tony and Roslyn Oxley and Working Dog Production’s Santo Cilauro.

Others at the grand opening included Queensland Art Gallery’s Jason Smith, Gallery of South Australia director Nick Mitzevitch, plastic surgeon and art collector Terry Wu, along with some of Australia’s leading gallery owners — Nellie Castan, Sally Breen, Martin Browne, Joanna Strumph and Ursula O’Sullivan.

Not-so-supermarket

Rotten vegetables. Rubbish on the floor. Empty, filthy milk fridges. Welcome to the hell that is Grant O’Brien’s Woolworths or, at least, one particular outlet of the grocery giant attended by Margin Call last weekend.

After disappointing sales results, executives at Woolies spent yesterday grovelling, promising to do better at stores new director of supermarkets Dave Chambers admitted “aren’t good enough”.

Like rapper Jay-Z, Woolies appears to have 99 problems: on top of rotten vegies and poor sales there’s the Masters hardware disaster, a social media snafu caused by cashing in on the Anzac legend and allegations suppliers use slave labour (which Woolworths is looking into).

O’Brien insisted Margin Call’s experience was atypical.

“When push comes to shove we haven’t cared enough about customers,” he admitted.

Greenhill exodus

Boutique adviser Greenhill might be in the market for some fresh Gen Y flesh to throw on the investment banking fire following the departure in recent weeks of several young analysts from its ranks.

At least three young guns have left the firm destined for greener pastures. This follows a March revolt from a posse of rebellious analysts, unhappy with stingy bonus payments.

The Greenhill powers-that-be succumbed to the pressure of the analysts’ collective bargaining and provided top-up payments, but it hasn’t been enough to keep at least three upstarts relaxed and comfortable enough to stick around.

Those departing include Zac Meyer, who is off to a hedge fund in New York; Rupert Peddler, who is joining the vultures at KKR; and Richard Chan, who is joining the financial institutions group at Goldman Sachs.

High-flying Tinkler

Passengers flying the Singapore-Perth route should look out for boganaire Nathan Tinkler if he brings off a deal to inject $20m into struggling oil and gas outfit Orca Energy.

While these days Tinkler only seems to visit Australia for court and ICAC appearances, the deal brings him the lofty title of executive chairman — but he will have to turn up to board meetings.

The $20m is to come from Tinkler’s Lion City company Bentley Resources and Aussie mob Trepang Services, which is controlled by Darwin developer John “Foxy” Robinson and Nick Paspaley, of the pearl clan.

In return, Bentley and Trepang get more than three-quarters of the company.

Orca boss Greg Bandy is “delighted”, citing big Nathe’s work setting up Aston Resources and his “significant role in the development of Whitehaven Coal Limited through its merger with Aston”.

That’d be the same Whitehaven where, during a bruising stoush in 2012, MD Tony Haggarty publicly turned on Tinkler, demanding he get “his own house in order and leaves the running of Whitehaven to those who have the qualifications and experience to do so”.

The naked truth

Yesterday, Margin Call reported that John Callanan resigned as a director of listed strip club operator Planet Platinum before Christmas — but left out that the yuletide in question was 2013’s.

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