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The split of InfraCo Fixed has the potential to create a business worth at least $30 billion, considering that it is seven times that of InfraCo Towers. Chanticleer’s $30 billion estimate assumes an EBITDA valuation of 20 times conservative. Those wishing to judge Penn on the decline in stock prices since his May 2015 appointment should not ignore the brutal external environment in the telecommunications sector during that period. Scramble for mobile market share In the last decade, the industrial economy has been very bad. Capital investment in fixed and mobile telephone infrastructure has doubled, but revenues have remained the same. Some observers will blame this on Penn and its partners, who are involved in the struggle for share of the mobile phone market. Penn made a conscious decision to maintain Telstra’s share of mobile and this helps explain why average revenue per user plunged in the four years leading up to 2020. Only in the last 18 months to two years the dynamics of th

Watching footage of Hurricane Katrina’s rescue at home — in fact, next door to where his mother still lives — Hulls came up with the idea of ​​a locator app. Getting funding isn’t easy – no one thought teens would own a cell phone. “That’s a good reason not to listen to investors,” he said. But he found the modal and, finally, the ASX list. Along the way, Hulls and his app have been at the center of debates about parenting style and privacy, as well as the target of social media campaigns, and even briefly, Australian tech lovers. But back to California. Hulls described the city’s tech precinct as a “ghost town”, emptied by pandemic-led remote work and sliding technology assessments. The changes are noticeable even to tourists: The Anchorage Hotel on Fisherman’s Wharf now has a concierge working from home for a week, for example. Hulls considers the sell-off in stock prices to be excessive. AFR AFR Weekend was in a meeting at the Hulls house because there was no office in San Fr

Queensland’s Racing Minister backed the decision to withhold hundreds of thousands of dollars in funding from Brisbane’s top racing club after refusing to step down from its CEO, who was accused of rape. Key points: Racing Minister Grace Grace said she had previously asked Racing Queensland to direct APHRC to step down from Mr Steele as CEO until the matter was resolved. He said the club board had ignored the directive and challenged its legitimacy Racing Queensland has withheld general fund payments from the club totaling around $600,000 Scott Steele, chief executive of Albion Park Harness Racing Club (APHRC), last month committed to trial in District Court on two counts of sexual assault and one rape for offenses allegedly committed in 2015 and 2016. He opposes the accusations. Yesterday Racing Minister Grace Grace said she had previously asked Racing Queensland (RQ) to direct APHRC to step down Mr Steele as CEO until the matter was resolved, but the club’s board has ignored the dire

Vivienne Leggett was interrupted from her job at the Hawkesbury Race Club by CEO Greg Rudolph and won a $2.8 million payout An oppressive boss whose constant campaign of harassment of a female worker leads to multimillion-dollar payouts has been promoted by her last employer. Greg Rudolph was CEO of the Hawkesbury Race Club when Vivienne Leggett was forced to quit her sponsorship and promotion role because of her bullying behavior. Ms Leggett, who has worked for the club for 25 years, won a $2.8 million payout due to bullying she suffered from Mr Rudolph, and for being denied annual leave, sabbaticals and commission payments. The Federal Court heard that Rudolph’s actions caused Leggett to develop a significant depressive disorder with anxiety that kept him unemployed for nearly six years. The court ruled in Ms Leggett’s favour in February and in late May rewarded her with millions of dollars in compensation. In a damning judgment, Judge Steven Rares found workplace bullying ‘eff

A Miami-based CEO has been arrested for allegedly importing $1 billion worth of counterfeit Cisco equipment from China and then selling it on Amazon and eBay. Ministry of Justice announced (Opens in a new window) today that they have charged 38 year old Onur “Ron” Aksoy for selling counterfeit Cisco equipment through various online storefronts. Allegedly, Aksoy imported tens of thousands of counterfeit Cisco devices from China and Hong Kong. He then created at least 19 companies in New Jersey and Florida, dubbed the “Pro Network,” to help him resell hardware as genuine through e-commerce sites. One of the sites that Aksoy appears to be using to sell Cisco gear. “The operation allegedly generated more than $100 million in revenue, and Aksoy received millions of dollars for his personal gain,” the Justice Department said. The Cisco equipment that Aksoy allegedly sold was usually older, lower-end models that were previously purchased or discarded. Counterfeiters in China then modify th

“I thought, ‘Oh, okay. The good God has given me some shocking moments’, and I thought, this is one of them.” Reed capitalized on his luck, making a very early and very recent investment in an Australian lithium mine close to his hometown of Kalgoorlie. The investment in the Mt Marion mine, now run by Chinese giant Ganfeng and Mineral Resources Chris Ellison, followed a timely exit to deliver a small return on Neometals and its shareholders. He made nearly a quarter billion dollars from the mines on a $2 million investment. After some generous dividends, the wealth left over has since been pumped into several clean energy processing projects, most notably the creation of a patented process for recycling lithium-ion batteries with a low carbon footprint. Mercedes-Benz gave Reed a 50th birthday present earlier this year, when they came knocking on his door wanting to get their hands on a patented battery recycling process. Mercedes-Benz reached a preliminary agreement with Neometals an