Punting men behaving badly: Cleanaway s board struggle
Jan 22, 2021 – 3.18pm
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Early in Vik Bansal s tenure as Cleanaway Waste Management chief executive, a member of the company s IT team based at the group s St Kilda Road headquarters in Melbourne abruptly left the company after an outburst from the boss, who was angered because the whiteboard pens in a meeting room didn t work.
At that time, IT had responsibility for in-room technology, which included whiteboard markers.
Cleanaway CEO Vik Bansal committed to being mentored and monitored.
Eamon Gallagher
The Australian Financial Review in recent months about Mr Bansal s leadership style. It is something that is still talked about now, one employee said. It s incredibly embarrassing.
Nonsense : Top fund managers say insurers can withstand climate risks
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Two of the country s most respected fund managers – Allen Gray managing director Simon Mawhinney and IML s Anton Tagliaferro – have dismissed claims insurers are becoming un-investable due to growing risks of natural disasters caused by climate change.
Mr Mawhinney said banks and buy now pay later stocks posed a higher risk than insurers because they are highly leveraged and face greater regulatory challenges. We have investments in things that are far riskier than insurance. And so does every other fund manager in Australia, he said. This notion that they [insurance companies] are uninvestible because they re too risky is nonsense in our mind.
Bushfires a wake-up call for insurers as unsettled claims continue to smoulder
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Scott Commens reckons he would be in front of a coroner right now if he had followed the advice of his insurers. It s just as well he didn t listen to them.
Commens has run the electronic music festival Subsonic from a property near Taree in NSW since 2006. Each summer, thousands of revellers come for three days of dancing. But last year, things didn t go to plan. The flames were almost at the front gate, he says.
Subsonic music festival director Scott Commens is still battling his insurance company, which said he should not have cancelled the 2019 festival amid the horror bushfires.
Cant and lawsuits: Rear Windowâs year in review
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Any bona fide review of the calendar year that corporate and political Australia have endured would necessarily run to hundreds of pages. In this format, sadly, we can only scan through the highlights of the highlights.
âUnprecedentedâ was, intolerably, the word of 2020. And all of it was: the border closures, the market meltdown, the lockdowns, the government spending, the market recovery, and the gruesome spectacle of the health crisis mishandled elsewhere.
Out the door: Treasury Wine Estates CEO Mike Clarke. Â
David Rowe
The Prime Minister began the year a national outcast after his spectacularly poor handling of last summerâs bushfires. But after his command performance throughout the pandemic, ScoMoâs Hawaiian snafu is ancient history and his ascendancy is seemingly entrenched.
QBE boss âdisappointedâ as adverse conditions pummel its books
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QBE boss âdisappointedâ as adverse conditions pummel its books
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QBE has flagged a $US1.5 billion ($1.97 billion) loss for the year, with the global insurance giantâs books buffeted by higher-than-expected claims from catastrophic weather and the coronavirus crisis.
QBE interim chief executive Richard Pryce said he was âvery disappointedâ by the figures that caused the companyâs share price to plummet more than 12 per cent to $8.73 on Friday. He added that it was necessary to update the market as the insurer tackled the worst hurricane season on record and ballooning reinsurance costs.