Australia parking price comparison: Sydney most expensive, Melbourne least. 1 hr: BNE $27.94, SYD $26.71, MEL $17.08 | 2 hr: BNE $42.31, SYD $51.35, MEL $34.36 | 4 hr: BNE $65.71, SYD $72.25, MEL $58.85 | 8 hr: BNE $65.83, SYD $74.23, MEL $63.68. Perth, Adelaid and Hobart are all under $5 for 1 hour parking. Brisbane fastest growing, rising 29% in 2010-2011 compared to 7% Sydney and 3.5% Melbourne. RACQ executive manager of public policy Michael Roth says Brisbane high rates due to lack of supply and lack of competition. (Jason Murphy)
Ernst & Young say EU to worsen in 2013: bank balance sheets in 2012 is worrying, but the real impact will be seen in 2013 with loan defaults. Non-performing loans are a “ticking time bomb”. Leniency from lenders is masking the true extent of non-performing portfolios. (CR: Would it be better to increase the immediate pain and call in the loans or delay the inevitable?] (James Hurley)
Financial industry to see modest growth: Westpac chairman Lindsay Maxsted and CEO Gail Kelly predict moderate growth due to consumers reducing their gearing and businesses (apart from mining) limiting new investment, as well as increased regulation on banks from government. Westpac return on equity declined from 23% in 2007 to 15.1% in first half of this year. ANZ reported a 7% fall in underlying profit from domestic operations six months to March, compared to 21% rise in profit from Asia Pacific and America division. ANZ CEO Mike Smith: “We are seeing a competitive advantage emerge in our core franchisees through greater customer and product connectivity and from diversification to higher growth countries in Asia.” Australia’s economic fundamentals remain sound with low unemployment, controlled inflation, and low levels of government debt. Westpac reporting $100 million in savings as a result of 560 staff positions and outsourcing and offshoring some back office functions. [CR: Competitive advantages “emerge”... at times it can feel as though they just pop up and surprise us.] (John Kehoe)
Trends in TV: For the younger generation, TV is on in the background while playing computer game and watching YouTube. As a result, cable channels introducing shorter episodes, bulking up online content, and changing plot lines based on social media response. Prized demographic is the millenials, 98 million people aged 7 to 29. 41% of viewers watch shows recorded earlier on DVRs – Boston consulting Group and ad agency Barkley study. TV shows are now being offered online within hours of airing. Television network CW’s executive vice-president of marketing and digital programs Rick Haskins: “You need to supply them the product, however they want to consume it”. Digital accounts for 18% of network’s total viewing, doubled in the last year. 93% of viewers who stream episodes have not watched them in the last year. Nickelodeon ratings dropped this season by 25% after it made episodes available through Netflix, responding by adding 650 new episodes of programming. YouTube content being picked up for TV, YouTube show Annoying Orange debuted with 2.6 million viewers and first in rating timeslot for 2 to 14 year olds. Parallax media strategist Jess Wiener talks about a “360-degree connection” and a “tri-level experience”, finding out details about the characters and discussing on Facebook. The season premier episode of Disney’s Pretty Little Liars series became the most commented cable show in social media history with 534,000 tweets. (Dawn Chmielewski, Meg James)
Apple iPad in China: Apple paid $60 million to settle ownership dispute over the name iPad , highlights pitfalls of overseas trademarks as well as China attracting technology investors. (The Guardian)
Australian Bureau of Statistics report: Online orders to businesses up 32% in 2010-2011 to $149 billion. Proportion of businesses that received orders online increased by 13% to 28%. 33% of micro businesses (<4 emplloyees) had a web presence, 97% of large businesses. [CR: I wonder who the 3% of large businesses were who did not have a web presence?]
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