Thank You From Gym Directress

Sydney Morning Herald

Wednesday March 1, 2006

James Chessell

James Chessell finds the club a bit too grand and doesn't need the exercise.

ANYONE lucky enough to be a member of the Hyde Park Club would have received the following missive earlier this week.

"On behalf of myself and all my staff I would like to say thank you to all the members for their kind words and thoughts since the sad death of Mr Packer. Mr Packer would have been truly touched.

"With sincere thanks, Julie Trethowan, Club Director".

Hyde Park is the fitness club in the basement of the Packers' Park Street headquarters. Trethowan was Kerry Packer's close personal friend of some 20 years who received at least $10 million worth of property before the Big Fella passed away on Boxing Day. She did not attend Packer's funeral. The email, needless to say, has raised many an eyebrow.

No rest for wicked

New Nine boss Eddie McGuire, AM, yesterday held a BBQ in the central courtyard of the network's Bleak City compound.

Jolly good of McGuire who wanted to afford Channel Bert "the opportunity to talk to you all and introduce you to senior executives from the Nine Network and PBL".

One PBL director who didn't show was Ashok Jacob, who lunched at Machiavelli. This is a prudent thing for anyone at PBL to do as the restaurant is hanging new photos supplied by the Bulletin magazine.

(Peter Holmes a Court was there yesterday to admire the new portrait of, er, himself).

Already PBL boss John Alexander and former Nine boss Sam Chisholm are hanging. Today Eddie is expected to join them. As will News Corp directors, Rupert and Lachlan Murdoch. Also going up are St George boss Gail Kelly, retailer Solly Lew. Then there's David Jones boss Mark McInnes (a big advertiser in PBL's magazines), Mr Olympics Rod McGeoch (husband of PBL corporate relations boss Deeta Colvin), and Gilbert+Tobin partner Mark O'Brien (PBL's lawyer of choice).

Meanwhile, among the happy throng enjoying the new view yesterday was former McIntosh Securities heavy Bruce Parncutt, now largely idle, and Greg Bundy, the former Merrill Lynch boss who's now at boutique InterFinancial. The two sat at different tables but - given the Thundering Herd swallowed McIntosh - managed to say hello. Perhaps they were discussing the Merrill Lynch share price which hit another record ($US78).

Back in the pool

Clearly the Merrill Lynch share price hasn't been playing on the mind of Timothy Martin Burroughs, who's ended a long spell away from the delights of merchant banking by joining the House of Sachs.

The Pommy-born Burroughs - who ran investment banking at Merrills for many years - fits alongside Goldies' two chieftains, Alastair Lucas and Keith Tuffley, who's part of the AGL defence effort. Burroughs dropped out of banking in 2002 to study psychology at Macquarie University. He said at the time he wanted "to work out what the hell it was I was doing for the past 20 years". Burroughs is still studying - the books are even expected to occupy his new office - and represents a handy addition to the Goldman ranks, having worked on such deals as the merger of Advance Bank and St George.

It was a busy day for Tuffley, who also managed to poach respected infrastructuralist Michael Siede from a reluctant UBS. It should all be very familiar for Siede. Tuffley used to work at UBS, as did the chap he'll be running Goldies infrastructure team with, Danny Bessell.

It's not all bad news for the Swiss. They have plenty of bodies in David di Pilla's infrastructure group, including one Jason Robell, who left Citigroup the other day.

It was a gas, actually

Team AGL took time out from scrying Alinta boss Bob Browning's next move to farewell their chief executive Greg Martin yesterday evening. Drinks were held at the head office in St Leonards. Martin has served the utility for 25 years - five years as boss - so he probably deserves an ale or two.

AGL chairman and Mark Johnson was there while soon-to-be-almost replacement Paul Anthony was hoping to go along before heading back to the UK.

It's a busy time for the AGL camp. As well as pushing ahead with its demerger plans - they're not talking to Alinta until they see a detailed proposal - Johnson and Graham Reaney are off to John Howard's pricey Sydney dinner on Thursday night. Johnson and Reaney are meant to chair the two halves of AGL should the demerger occur.

Meanwhile, Anthony and Browning continue sniping about who'd be the better boss. In yet more proof that the www.lovecalculator.com never lies, the two score a measly 13 per cent.

Lunchers who work

Not much has been heard of Trevor Rowe since he ditched Citigroup in favour of the struggling Rothschild. But it seems safe to say the ASX director still enjoys a good lunch.

Trev spent a pleasant couple of hours yesterday at the fancy pants Est restaurant with another seasoned networker, CRI chairman Peter Wills.

Arty type Professor Ross Henry Steele entertained Unity Daniel at another table. Daniel, the daughter of former adman Greg, recently turned 18 but stuck to the Coke. The good professor sipped white wine.

Reconnaissance

It pays to be prepared. This might explain why Ziggy Switkowski briefly checked out the C7 legal dispute yesterday.

The erstwhile Telstra chief was in town and thought to familiarise himself with Justice Ron Sackville's courtroom. It is, after all, good to get one's bearings when one is due to appear in the witness box later this month.

Selling the Hydro

There was movement at the station for the word had passed around that Macquarie Bank may well get a lucrative gig on the $3 billion Snowy Hydro float. It would be an interesting choice by the NSW Government which is doing such a wonderful job running the state.

Macquarie handles plenty of big floats with some success but it also employs Robert Carr. The ex-premier did not work on the Fee Factory's all-star pitch on Monday but the inevitable questions about conflicts will surely be asked if his shop gets up on Friday.

The other interesting thing is how big a role CSFB's Campbell Lobb is playing in the selection process. Lobb's bank, which is advising the NSW Government, recently got the plum job of listing Macquarie's $1.5 billion explosives business, Dyno Nobel, but we're certain that wouldn't cloud his judgement.

© 2006 Sydney Morning Herald

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