You can imagine there are currently a few very pained expressions on the faces of the investment bankers and advisers that Woolworths has charged with the job of selling its Dick Smith chain.
After watching Treasurer Wayne Swan attempt to tear down what is left of the Government’s relationship with business for the last few days, Prime Minister Julia Gillard and senior ministers Bill Shorten (he’s in charge of workplace relations and superannuation) and Chris Evans (science) have emerged to try and re-engage.
We’re now into day four of Wayne Swan versus The Billionaires.
Labor has finally done it. Ever since Kevin Rudd swept to power in 2007, the Opposition has constantly badgered Labor to put the small business portfolio in Cabinet and thus recognise the importance of the SME community to the nation.
Apparently being named as the World’s Greatest Treasurer has had a transformative effect on Wayne Swan, who has gone from mild-mannered bean counter to edgy Labor enforcer with a poison pen in the space of a few months.
Does Frank Lowy know what he’s getting himself into?
Gordon Merchant, the founder and largest shareholder of surfwear giant Billabong, has made it very clear where he stands on the takeover bid for the struggling company lobbed by private equity firm TPG – he won’t be selling out unless the money is much, much higher.
It is still not clear to me why Small Business Minister Mark Arbib has stepped down as a government minister and will now leave the Senate.
And so it all went pretty much as expected. Prime Minister Julia Gillard emerged from the Labor leadership ballot this morning with a emphatic win, 71 votes to 31.
Retailers are adapting a few common strategies to deal with the challenge posed by online retailers.