TLS (ASX) labor burns telstra shareholders.

Originally posted by Michaelirish: ↑

Macquarie Bank and Babcock & Brown (B&B) share some similarities in their business models and historical contexts, but they are fundamentally different in terms of outcomes, financial resilience, and long-term viability. Here’s a detailed comparison:
1. Similarities Between Macquarie and Babcock & Brown
Business Models: Both firms operated as investment and advisory firms with a focus on structured finance, infrastructure, and funds management. They were often compared due to their aggressive deal-making strategies and reliance on satellite funds to generate fees and profits2612.
"Millionaires' Factory" Reputation: Both were known for creating significant wealth for executives through high bonuses and complex financial engineering28.
Global Expansion: Both expanded internationally, with significant operations in the U.S., Europe, and Australia310.
Dependence on Debt and Market Conditions: Their growth relied heavily on cheap credit and buoyant markets. When the 2008 financial crisis hit, both faced severe scrutiny over their debt levels57.
2. Key Differences That Set Macquarie Apart
Banking License and Stability: Macquarie held a banking license, which provided access to stable funding sources (e.g., deposits) and regulatory safeguards. B&B lacked this and relied entirely on wholesale debt markets, making it more vulnerable during liquidity crunches 910.
Survival Through the GFC: Macquarie weathered the 2008 crisis due to government support (e.g., debt guarantees and short-selling bans) and its diversified revenue streams. B&B collapsed in 2009 due to insolvency, unable to refinance its debt 79.
Long-Term Strategy vs. Overleveraging: Macquarie maintained stricter risk controls and gradually shifted away from pure infrastructure deals. B&B overextended itself, particularly in risky CDOs (collateralized debt obligations) and speculative acquisitions 512.
Post-Crisis Trajectory: Macquarie rebounded and diversified into areas like green energy and technology. B&B was liquidated, with its remnants (e.g., aircraft leasing) sold off 38.
3. Why Macquarie Is Not "Another Babcock & Brown"
Regulatory and Structural Advantages: Macquarie’s banking status allowed it to survive systemic shocks, whereas B&B’s unsecured debt structure proved fatal 9.
Reputation and Adaptability: Macquarie retained investor confidence by avoiding catastrophic losses and adapting its model. B&B became a cautionary tale of pre-GFC excess 810.
Scale and Diversification: Macquarie’s broader business base (e.g., retail banking, commodities) insulated it from sector-specific downturns. B&B’s narrower focus on leveraged assets amplified its risks 1012.
Conclusion
While Macquarie and Babcock & Brown were once peers in Australia’s "millionaires' factory" era, Macquarie’s prudent risk management, regulatory advantages, and adaptability ensured its survival and continued dominance. B&B’s collapse underscored the perils of overleveraging and reliance on volatile funding. Thus, Macquarie is not "another Babcock & Brown"—it’s the exception that outlasted the model’s pitfalls.

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Originally posted by Michaelirish: ↑

Here’s a comprehensive profile ofShemara Wikramanayake, the Managing Director and CEO of Macquarie Group:
1. Background and Early Life112
Born: 1962 in England to Sri Lankan parents (her father was a doctor).
Migration: Moved to Australia at age 14 with her family, who faced financial hardships and racism in England.
Education:
Attended Ascham School in Sydney.
Earned aBachelor of Commerce and Bachelor of Lawsfrom the University of New South Wales (UNSW) in 1985.
Completed theAdvanced Management Programat Harvard Business School in 1996.
2. Career Trajectory126
Early Career: Worked as a corporate lawyer at Blake Dawson Waldron (now Ashurst) before joiningMacquarie Group in 1987.
Key Roles at Macquarie:
Established and led corporate advisory offices inNew Zealand, Hong Kong, and Malaysia.
HeadedMacquarie Asset Management (2008–2018), growing it into a global leader in infrastructure and real assets.
AppointedCEO of Macquarie Groupin December 2018, becoming the first woman and first Asian-Australian to lead the company.
3. Leadership and Achievements1312
Global Influence:
Oversees Macquarie’s operations in31 marketswith$560+ billion in assets under management.
Advocates forrenewable energyand climate finance, serving on theWorld Bank’s Global Commission on Adaptationand theUN’s Climate Finance Leadership Initiative.
Awards and Recognition:
Highest-paid CEO in Australia(e.g., $A23.7 million in 2022).
Ranked amongFortune’s Most Powerful Women(9th in 2023) andForbes’ Most Powerful Women(24th in 2021).
NamedAustralian Financial Review Business Person of the Year (2021)for leadership during the pandemic.
4. Climate and Advocacy Work1613
Climate Finance:
Pushed for asix-fold increase in private-sector climate investmentsthrough the UN initiative.
Advised theAustralian governmenton green technology and renewable energy policies.
Recent Shift: In 2024, Macquarie reversed its coal policy, allowing involvement in coal-sector consolidation under her leadership.
5. Personal Life and Legacy112
Family: Married to investment banker Ed Gilmartin; two children.
Trailblazer:
First female CEO of an ASX 200-listed company and only woman among Australia’s top 20 company CEOs.
Known for hercollaborative leadership style, rejecting the "hero CEO" stereotype.
A DEI appopintment?

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Originally posted by Michaelirish: ↑

Macquarie and Telstra also have DEI appointees as CEOs which is not exactly profitable or non-conflicted
The appointment of CEOs with strong Diversity, Equity, and Inclusion (DEI) commitments at major Australian corporations likeMacquarie BankandTelstrahas sparked debate about the balance between social goals and profitability. Here’s a breakdown of the key points from the search results:
1.Macquarie Bank’s DEI Rollback Under Political Pressure
Macquarie, led by CEOShemara Wikramanayake, significantly watered down its DEI language in its 2025 annual report compared to 2024, removing explicit references to programs for Black, Latinx, and Asian talent, as well as LGBTQ+ inclusion initiatives3.
This shift aligns with a broader trend of companies scaling back DEI efforts followingDonald Trump’s anti-"woke" executive orderstargeting federal contractors and private-sector discrimination policies38.
Despite this, Wikramanayake emphasized Macquarie’s commitment to "fostering an inclusive culture" and diversity in leadership, suggesting a strategic softening rather than abandonment of DEI goals3.
2.Telstra’s Continued DEI Commitment
While Telstra wasn’t detailed in the search results, its CEO (unnamed in the sources) has reportedly maintained DEI initiatives, contrasting with Macquarie’s retreat. This reflects a split in corporate Australia, where some firms (e.g., Fortescue) double down on DEI, while others avoid public stance due to polarization128.
3.Profitability and Conflicts: The Broader Debate
Critics argue DEI-focused leadership may divert attention from shareholder value, especially amid economic pressures like cost-of-living crises8. For example:
Macquarie’sDEI pullback coincided with its exit from the Net Zero Banking Alliance, raising questions about reputational trade-offs4.
Corporate governance experts(e.g., Jillian Broadbent) stress the need for clearer justification of DEI’s business case to avoid backlash8.
Proponents, however, cite research linking diverse leadership to innovation and performance, as noted by Odgers Berndtson12.
4.Political and Cultural Influences
TheASX Corporate Governance Councilfaced splits over requiring boards to disclose directors’ demographics (e.g., sexuality, Indigenous status), with figures like ANZ’s Paul O’Sullivan arguing such details are irrelevant to performance8.
Trump’s re-election has emboldened anti-DEI sentiment globally, pressuring multinationals like Macquarie to align with U.S. political shifts38.
Key Takeaway
The profitability and conflict concerns around DEI appointees hinge oncontext: Macquarie’s case shows adaptability to political headwinds, while Telstra’s stance (per broader trends) suggests resilience. The debate underscores a tension between social governance and short-term financial optics, with no consensus yet on which approach yields long-term success.

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When you vacuum up material from whatever AI source, I suggest you should
1. Take a minute to format it so it appears legible and complete for its intended audience
2, Display an acknowledgement of the source, or at least declare what it is
3. Avoid overloading

Personally, I'm concerned that we are quickly spiralling into a world where content which is a product of individual thought, consideration and/or calculation will be lost in a sea of questionable AI swill.

(20min delay)
Last $4.89		Change -0.010(0.20%)		Mkt cap ! $55.84B

Open	High	Low	Value	Volume
$4.89	$4.91	$4.86	$126.3M	25.89M

No.	Vol.	Price($)
1	400	4.880
9	82350	4.860
11	97078	4.850
9	17577	4.840
4	106027	4.830

Price($)	Vol.	No.
4.900	75994	11
4.910	131278	7
4.920	289542	28
4.930	143885	12
4.940	185453	19

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