That's one heavy industry company in Australia. Bluescope don't have a government guarantee, Downer Industries don't have government guarantees, they are defined as heavy industry. What about the Alcoa aluminium smelter in Portland. What government guarantee do they have?
Alcoa had a $200M direct bail out from Vic govt only a few years ago. Bluescope only kept Pt Kembla alive after assistance from Macfarlane and AG. Qld Nickel went under after no govt loan guarantee. Similar with Rio's Gove refinery. The international situation, from Canada to Europe and Asia is worse - direct govt stakes in loss making refineries. If you are a loss making refinery requiring a major restructure, lenders are now expecting a govt guarantee, because they are being kept open for reasons other than profit.
The value of the sponsorship is confidential which according to HumungousSherrin means it's around $10.00
Gupta got the front page of The Weekend Australia, last weekend and was the main feature of their magazine with a 5 page story.
He reckons Australians are losing their entrepreneurial spirit. Wonders if after 28 years of no recession we have lost our zeal for risk taking. The Magazine story talks a lot about what I have posted in the last few pages re his vertical integration, plans for the future, goes a bit further into his ideas to developing and built electric vehicles that I have posted. Raises questions about how he can finance all this, the delicate balance of pressing politicians for assistance and how much he can keep juggling all at once.
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The story starts off with
NoCookies | The Australian
www.theaustralian.com.au
You walk up a steep driveway to be buzzed through a security gate and into a garden with a hidden tennis court, a sunken pool and a huge lawn that sweeps out to a view of Sydney Harbour so vivid it hurts your eyes on a sunny day. Bono woke here to a beautiful day and Angelina Jolie’s kids have bagsed the best of the seven bedrooms. Bellevue Hill’s Barford House is the pick of Sydney’s digs for thirty grand a week. For the past two years its occupant has been the new rock star on the Aussie business charts, Sanjeev Gupta.
Dressed in a three-piece Savile Row suit and a pair of R.M. Williams boots, he enters the sitting room an hour late and plonks onto a couch. This former Fairfax family pile has been the beachhead from which the Indian-born, British-educated industrialist has lorded over his antipodean empire. Where others have seen only despair, he’s spotted opportunity. Like a televangelist, he delivers dire warnings with a sweetener of hope and salvation.
We are not long into our conversation when the 48-year-old glances admiringly at his boots. “These are the best shoes in the world,” he says. His words spill out at such a rapid pace it’s as though his audio setting is jammed on x2. “I’m a huge R.M. Williams fan, I’ve got 11 pairs. I’d love to go to the factory in Adelaide; it’s on my bucket list… it would be an amazing company to own.”
What he so admires about his RMs, apart from the comfort and the cut, is that they are still made in Australia. “It proves the possibilities,” he says. Gupta believes that, to their great peril, Britain and Australia have largely given up on manufacturing. He’s scornful of Australia’s business and political elite, who he reckons have had it far too comfy for far too long. Twenty-seven years of economic growth “are a blessing, but also a curse… there’s been a lack of evolution of the entrepreneur, of the risk-taker, the guy who really changes things. Australia has had it too easy. Change is bred from difficulty, not from comfort… dig and load and be comfortable; you’ve not been forced to add any value, to create anything.”
Since he crashed onto the scene in 2017, Gupta has reinvigorated Australian steel-making and saved Whyalla from a wipeout. The old South Australian steelworks is in the midst of a billion-dollar rebuild that will almost double its capacity to 1.8 million tonnes. It will value-add by turning out finished steel products including railway tracks, building beams and pipes that will supply grand infrastructure projects such as the inland rail, Sydney’s WestConnex and Brisbane’s Cross River Rail.
There are more plans – bigger, better – that leave some wondering whether his dreams can ever meet cold, hard business reality. Plans to build a next-generation steel mill to sit alongside the old one, churning out five to 10 million tonnes of steel a year, making it one of the world’s largest outside China. Plans to scope out a potential new steel recycling plant in Brisbane.
........
NoCookies | The Australian
Gupta flies the journo to Whyalla in his private jet, he meets some people working for Gupta as well as people in Whyalla and the story finishes off with the last 1/3rd page of the article.
This morning a second jet-load of Gupta’s senior executives arrive in Whyalla. We gather in the Middleback Arts Centre, named after the ranges that feed his steel mill with iron ore. South Australia’s Governor Hieu Van Le warms the crowd. Sitting next to me, dressed in fluoro, mill worker Mark Wakelin tells me he moved back to Whyalla from “over east” because he wanted to be part of its transformation. “You only get one hometown, one first footy club, the place where you learnt to ride a bike,” he says. “Whyalla is that place for me. I want to see it prosper again and I reckon it will.”
A couple of dozen beaming high school kids take their seats on stage in T-shirts that read: “Test Pilots.” They are the first graduates of a STEM mentoring program sponsored by Gupta’s charity, the GFG Foundation, that he hopes to roll out around Australia. The billionaire takes to the microphone and delivers an impassioned speech. “It gives me great heart-swell to see these young people… over the last 20 or 30 years, especially in the UK and Australia, we’ve seen a great drain of industry. As a result of that we’ve also seen a decline of interest in industry in the next generation.” He says he wants to inspire these kids to think of a career in manufacturing. “The journey is not quick – the rejuvenation, here in Whyalla and Australia, will take a long time but it cannot happen without the next generation.” He and the governor shake hands with and put a cap on each kid. I suddenly realise Gupta has flown two jet loads of his most senior staff from Sydney to Whyalla to watch him hand out caps to school kids. I sit here thinking, “This guy is either mad or a genius. Possibly both.”
He recently sent his family back home to London, from where he will oversee his new European acquisitions, but he tells me he’ll be flying back here every few weeks to see through his grand plans for Whyalla and Australia. “There’s no getting rid of me,” he says. “I’m in for the long haul.”
And this is why we have to build this partnership. He is in it for the long haul, and we will have the opportunity to be associated with him over that long haul. Unlike a consumer brand sponsorship where we are at the whims of taste of consumers, the SA market size, the lack of national TV exposure, and overseas HQ directives to the Aussie subsidiary, we are working with and dealing with the main man who is driven by a different measure of return on investment.
This STEM program and GFC Foundation launch, the club was involved with, and I posted a few tweets about in early August in post #1037 of the previous page.
Why?
Gupta got the front page of The Weekend Australia, last weekend and was the main feature of their magazine with a 5 page story.
He reckons Australians are losing their entrepreneurial spirit. Wonders if after 28 years of no recession we have lost our zeal for risk taking. The Magazine story talks a lot about what I have posted in the last few pages re his vertical integration, plans for the future, goes a bit further into his ideas to developing and built electric vehicles that I have posted. Raises questions about how he can finance all this, the delicate balance of pressing politicians for assistance and how much he can keep juggling all at once.
View attachment 766943
View attachment 766942
View attachment 766940
View attachment 766944
The story starts off with
NoCookies | The Australian
You walk up a steep driveway to be buzzed through a security gate and into a garden with a hidden tennis court, a sunken pool and a huge lawn that sweeps out to a view of Sydney Harbour so vivid it hurts your eyes on a sunny day. Bono woke here to a beautiful day and Angelina Jolie’s kids have bagsed the best of the seven bedrooms. Bellevue Hill’s Barford House is the pick of Sydney’s digs for thirty grand a week. For the past two years its occupant has been the new rock star on the Aussie business charts, Sanjeev Gupta.
Dressed in a three-piece Savile Row suit and a pair of R.M. Williams boots, he enters the sitting room an hour late and plonks onto a couch. This former Fairfax family pile has been the beachhead from which the Indian-born, British-educated industrialist has lorded over his antipodean empire. Where others have seen only despair, he’s spotted opportunity. Like a televangelist, he delivers dire warnings with a sweetener of hope and salvation.
We are not long into our conversation when the 48-year-old glances admiringly at his boots. “These are the best shoes in the world,” he says. His words spill out at such a rapid pace it’s as though his audio setting is jammed on x2. “I’m a huge R.M. Williams fan, I’ve got 11 pairs. I’d love to go to the factory in Adelaide; it’s on my bucket list… it would be an amazing company to own.”
What he so admires about his RMs, apart from the comfort and the cut, is that they are still made in Australia. “It proves the possibilities,” he says. Gupta believes that, to their great peril, Britain and Australia have largely given up on manufacturing. He’s scornful of Australia’s business and political elite, who he reckons have had it far too comfy for far too long. Twenty-seven years of economic growth “are a blessing, but also a curse… there’s been a lack of evolution of the entrepreneur, of the risk-taker, the guy who really changes things. Australia has had it too easy. Change is bred from difficulty, not from comfort… dig and load and be comfortable; you’ve not been forced to add any value, to create anything.”
Since he crashed onto the scene in 2017, Gupta has reinvigorated Australian steel-making and saved Whyalla from a wipeout. The old South Australian steelworks is in the midst of a billion-dollar rebuild that will almost double its capacity to 1.8 million tonnes. It will value-add by turning out finished steel products including railway tracks, building beams and pipes that will supply grand infrastructure projects such as the inland rail, Sydney’s WestConnex and Brisbane’s Cross River Rail.
There are more plans – bigger, better – that leave some wondering whether his dreams can ever meet cold, hard business reality. Plans to build a next-generation steel mill to sit alongside the old one, churning out five to 10 million tonnes of steel a year, making it one of the world’s largest outside China. Plans to scope out a potential new steel recycling plant in Brisbane.
........
NoCookies | The Australian
Gupta flies the journo to Whyalla in his private jet, he meets some people working for Gupta as well as people in Whyalla and the story finishes off with the last 1/3rd page of the article.
This morning a second jet-load of Gupta’s senior executives arrive in Whyalla. We gather in the Middleback Arts Centre, named after the ranges that feed his steel mill with iron ore. South Australia’s Governor Hieu Van Le warms the crowd. Sitting next to me, dressed in fluoro, mill worker Mark Wakelin tells me he moved back to Whyalla from “over east” because he wanted to be part of its transformation. “You only get one hometown, one first footy club, the place where you learnt to ride a bike,” he says. “Whyalla is that place for me. I want to see it prosper again and I reckon it will.”
A couple of dozen beaming high school kids take their seats on stage in T-shirts that read: “Test Pilots.” They are the first graduates of a STEM mentoring program sponsored by Gupta’s charity, the GFG Foundation, that he hopes to roll out around Australia. The billionaire takes to the microphone and delivers an impassioned speech. “It gives me great heart-swell to see these young people… over the last 20 or 30 years, especially in the UK and Australia, we’ve seen a great drain of industry. As a result of that we’ve also seen a decline of interest in industry in the next generation.” He says he wants to inspire these kids to think of a career in manufacturing. “The journey is not quick – the rejuvenation, here in Whyalla and Australia, will take a long time but it cannot happen without the next generation.” He and the governor shake hands with and put a cap on each kid. I suddenly realise Gupta has flown two jet loads of his most senior staff from Sydney to Whyalla to watch him hand out caps to school kids. I sit here thinking, “This guy is either mad or a genius. Possibly both.”
He recently sent his family back home to London, from where he will oversee his new European acquisitions, but he tells me he’ll be flying back here every few weeks to see through his grand plans for Whyalla and Australia. “There’s no getting rid of me,” he says. “I’m in for the long haul.”
And this is why we have to build this partnership. He is in it for the long haul, and we will have the opportunity to be associated with him over that long haul. Unlike a consumer brand sponsorship where we are at the whims of taste of consumers, the SA market size, the lack of national TV exposure, and overseas HQ directives to the Aussie subsidiary, we are working with and dealing with the main man who is driven by a different measure of return on investment.
This STEM program and GFC Foundation launch, the club was involved with, and I posted a few tweets about in early August in post #1037 of the previous page.
I know a couple of people in Whyalla who are pretty positive about Gupta. You will get the full 360 degrees up there.
The impending 3 year snapper ban isn't going to improve the mood of your average Whyalla resident either.
player.whooshkaa.com
Strictly speaking if GFG has paid 3 years up front this is how it should be accounted for
What if zero has actually been paid upfront by GFG and the strategy is for the whole three years worth to be written up in FY 2018-2019 as ‘liability’ / ‘unearned income’.
If all 3 years was reported as sponsorship revenue for 2018-19 and no cash was paid, then
Kyle Sandilands to replace BARRY Curtin as consultantMaybe Kyle Sandilands could spare $1 million of his $8 million a year. The downside is we would have to wear Trial by Kyle badging. It's a heavy price to pay.
He started off as a commodities trader, whilst he was at Cambridge using their telex and dodging VAT.
Maybe Kyle Sandilands could spare $1 million of his $8 million a year. The downside is we would have to wear Trial by Kyle badging. It's a heavy price to pay.
