Shayne Elliott’s run-in with Angus Aitken; Nick Politis goes direct to government; Steve Kamper’s family switches sides
Spotted on QF418 out of Melbourne on Thursday morning was ANZ bank chief executive Shayne Elliott seated uncomfortably close to stockbroker Angus Aitken two rows behind him in business class.
Their beef goes back to Aitken’s days at Bell Potter when he wrote a characteristically acerbic client note about the bank’s appointment of CFO Michelle Jablko, these days the CEO of Transurban.
Well, ANZ hated the note, and when Aitken lost his job at Bell’s shortly thereafter he alleged that pressure from the bank was responsible for his dismissal. A lawsuit followed, as did a confidential settlement and then, using the financial proceeds, Aitken’s purchase of a luxury beach house in Yallingup which he suitably dubbed Villa Shayne.
None of which is to say Elliott himself hasn’t done all right in the years following. He’s taken home nearly $20m in fixed pay since that blue and currently holds about $14m in ordinary shares. Meanwhile, ANZ’s stock price hasn’t risen all that much since Elliott’s appointment. On the day he became CEO it closed at $27.70 and on Thursday it finished at $28.23.
And so we can only wonder if, with all that dough, it was Elliott, not his long-suffering investors, who ponied up for the business class airfares this week, along with a chauffeur-driven car that was waiting on arrival in Sydney.
Tailpipe talk
Seems like every self respecting billionaire is taking lobbying into their own hands nowadays. A week ago we reported that Andrew and Nicola Forrest had engaged Pyne and Partners to lobby for their private investment company, Tatterang. Now it’s billionaire Nick Politis seeking help with government relations, tapping GRA Cosway to represent his NGP Group with a few inconveniences.
Might this have anything to do with strict tailpipe emission standards being introduced by the government for petrol and diesel-powered vehicles? Absolutely. But one would have thought this very delicate issue would have been deftly handled by a leading industry body, like Tony Weber’s Federal Chamber of Automotive Industries.
But, no, we’re hearing the FCAI has totally fumbled the ball and been cut out of the talks, forcing stakeholders like Politis to negotiate directly with the government – hence the need for immediate assistance.
Much at stake, clearly. Politis is worth in the order of $2bn courtesy of his interests in A-to-B devices; they say one in every six vehicles sold in Australia traces its way back to his dealerships.
Switch-hitters
It’s often been said of vape-smoking NSW Labor minister Steve Kamper that he would have fit in well with the Liberal Party, given his very chummy relations with MPs across the political aisle.
And it makes even more sense now that we’ve been leaked a membership list of the NSW Liberal faithful that includes members of Kamper’s direct family, namely his brother, Bill, and sister-in-law Georgina, and one Maria Kamper, who works as a payroll officer in the family accounting firm. Strangely, not only are Bill and his wife part of the Como/Jannali branch, but at least one meeting for the Brighton Le Sands branch — run by Bayside councillor Paul Sedrak — was held in the level 3 conference room of Kamper Chartered Accountants.
Kamper (the Lands Minister) didn’t respond to our questions about this incongruousness. But the rules are clear, too: you cannot be a member of one political party while campaigning for another. What then to make of Bill Kamper, card-carrying Liberal member, photographed in Labor colours on the campaign trail? True believer, or a mole in the circus?
Video games
More on former young rich-lister Nick Bell and his deleted post concerning edgelord provocateur Andrew Tate. Bell’s troubles started this week with his plugging of Tate’s viral marketing capabilities on LinkedIn, which startled some followers.
On Wednesday he posted a video mea culpa explaining direct to camera his intent and why he deleted the video, which then went on to express sincere bemusement at all the backlash and fuss he’d caused online – and which plainly showed he still wasn’t quite getting it.
After all, Bell said, as though speaking from the Rose Garden, he himself does not support Tate and does not believe in his views but “merely showcased” the man’s ability to “scale his brand”, proving a truth universally acknowledged that a multi-millionaire posting regularly online is clearly in want of a sensible adviser.
High and dry
Bonza’s appointment of administrators Hall Chadwick this week wasn’t just a jolt to stranded passengers. Sunshine Coast Airport, owned by Palisade Investment Partners, moved cat-quick on Wednesday to add their name to a list of creditors along with Queensland Airports Limited, owners of the Gold Coast, Mt Isa and Townsville airports. As it happens, about 10 per cent of QAL is up for sale but a decline in revenue courtesy of Bonza’s collapse could conceivably throw a spanner in the works.
The four airports have claimed security over Bonza property described as “aircraft – airframe”. Abandoned passengers, sadly, are at the back of the queue.
Who else is going to lose money? Co-founder and CEO Tim Jordan owns almost 8 per cent of the airline. Private equity owners 777 tested the market last year for fresh equity and eyed a $100m valuation, making Jordan’s share worth about $8m. And their worth now? Bubkes.
CFO Lidia Valenzuela owns 2.2 per cent, with her job at this point basically a liaison with the undertakers at Hall Chadwick.
SCG boozefest
Cricketer Adam Gilchrist is flying out of India, via Perth, to be the guest of honour at The Chappell Foundation’s charity fundraising dinner at the Sydney Cricket Ground a fortnight hence. Adam Spencer the MC and about 400 people are down to attend – including former prime minister John Howard, a patron. But the highlight is surely the chance to imbibe a few beveraginos on the hallowed turf itself from about 5pm. Dollars raised will be distributed to seven partner NGOs working to help youth homelessness.
Medical skirmish gets pulses racing
Most lawyers will tell you their work doesn’t save lives, but a case starting on Monday could prove the exception.
‘The scapegoating of business has to stop’: literal alarm at corporate Oscars
Seats were in short supply at business’s equivalent of the Oscars, but the speeches didn’t miss and at least one big name couldn’t wait to hot-foot it out of there before the dessert plates were even cleared.