Why Kells' reign at CSR was shortlived

Article Abstract:

Geoff Kells, chief executive of the Australian construction materials company CSR, was sacked by new chairman Ian Burgess. The sacking was widely anticipated. After becoming chief executive, Kells demanded that his mangers create budgets a year in advance and demanded that profit estimates be significantly higher. The managers did not believe in the budgets, which could not be met, and the failure of CSR to meet its forecasts made the company a laughing stock among securities analysts.

Nonmetallic Mineral Product Manufacturing, STONE, CLAY, AND GLASS PRODUCTS, Construction Materials, Officials and employees, Building materials industry, Appointments, resignations and dismissals, Building materials, Chief executive officers, CSR (Australia)

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Crown unsecured debt is a signal

Article Abstract:

Australia's Crown Limited, its largest casino, offers grim prospects for its shareholders due to its unsecured debt. Should Crown lose its operating license, its real estate would go to the license buyer, not to pay off debt. Crown officials should negotiate with its stakeholders and find a firm to back the value of its freehold to avoid technical insolvency.

Coin-operated amusement devices, Casinos, Casinos (except Casino Hotels), Finance, Gambling industry, Crown Ltd.

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Big shocks ahead for our businesses

Article Abstract:

Australia will need to modernize its services industry and information technology to take advantage of the global market opportunities that are materializing. Australia had previously been insulated from competition by geographic isolation, but increasing use of the Internet is eliminating that distance - exposing firms to free trade at a faster rate.

Service Industries, Management, Usage, Internet, Column, Services industry

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