The decision: avoid Company Journey.
Diogenes could also be a secretive analytics outfit run by former Goldman Sachs JBWere companions Matt Cook dinner and David Roberts, however they’ve a powerful file in selecting downside corporations.
Their analysis on stockmarket bomb Blue Sky Various Investments got here two years earlier than American hedge fund Glaucus raised their very own considerations, crashing the share value.
Now, a Diogenes be aware ready on Wednesday afternoon underneath the banner Pup Analysis and obtained by CBD makes plenty of sturdy criticisms about Company Journey.
However greater than that, it compares Company Journey to a just lately unravelled roll-up, Sydney skip bin proprietor Bingo Industries, run by the rich-lister Tarak household, which noticed greater than $500 million wiped from its worth on Monday after reducing again its revenue expectations.
“[Corporate Travel] is a extremely acquisitive enterprise with excessive margins & sturdy natural momentum … nonetheless, a few of the drivers of this should not prime quality,” Pup wrote. “This creates the extremely unstable dynamic whereby it is rather onerous to justify the present a number of … threat reward seems to be poor.”
Like we stated, this one’s value a large berth.
BuzzFeed’s secret Husar defence
Now (virtually) bereft of journalists, BuzzFeed Australia continues to clear its decks as a part of a worldwide effort to “thrive” (within the phrases of chief government Jonah Peretti).
The newest barnacle to be hived off the hull, as we revealed, was a settlement with Zion Graphics boss Rudy Limantono — a Liberal department president — who launched defamation proceedings after a September report about Liberal MPs utilizing his printing companies.
However there stay a number of different issues that BuzzFeed should kind by means of.
At this time, Labor MP Emma Husar’s defamation pursuit is again in courtroom.
She launched proceedings and engaged defamation silk Sandy Dawson SC following a report about complaints levelled by her employees and investigated by Sussex Avenue-appointed lawyer John Whelan.
He satisfied Federal Court docket choose Steven Rares in December the article conveyed a severe slur in opposition to Husar.
And whereas the small print of BuzzFeed’s defence have been on the Queens Sq. courthouse since Monday afternoon, they continue to be sealed with Husar transferring to have the doc suppressed.
That defence: anticipated to be half reality, half political dialogue.
We’re additionally instructed BuzzFeed’s legal professionals at Minter Ellison despatched Husar their supposed defence final week, hoping there could be settlement talks as an alternative of a messy courtroom brawl.
It seems Husar didn’t agree.
Liberal love for Ryan Park…
Regardless of a 17 per cent margin and an incumbent candidate in Labor’s treasury spokesman Ryan Park, “Liberal for all times” Chris Atlee will take a crack on the Wollongong voters of Keira come the March state election.
We had been amused after discovering this “Liberal for all times” had beforehand run as a candidate variously for the Clive Palmer and for the Christian Democrats.
We had been extra impressed to find that Atlee had solely this yr needed to place up a Ryan Park placard on the garden of his Coniston house, however as he did not dwell within the voters, needed to accept certainly one of Labor MP Paul Scully.
What an endorsement! (For sure, that signal has now been eliminated.)
…whereas Labor backs a Lib
Nonetheless, the Liberals have a shock endorsement of their very own. Final night time former Australian Council of Commerce Unions chief Invoice Kelty, a confidant of former prime minister Paul Keating was at Corowa’s Royal Resort, for, err, a Liberal fundraiser.
You’d higher consider the $70 cost goes to the re-election efforts of the native Liberal, Albury MP Greg Aplin.
Kelty is a Victorian, main one NSW Labor operator to quip: “If he had been a member of this department I’d pay the $50 to have him purged by the disputes committee”.
Kylar Loussikian is The Sydney Morning Herald’s CBD columnist.
Samantha is the The Age’s CBD columnist. She just lately coated Victorian and NSW politics and enterprise for Information Corp, and beforehand labored for the Australian Monetary Evaluate.