|
The
Business Of Everything
Mining/Energy/Resources/Biz/Markets/Pop
Culture
The
Business Of Everything Edition!
Sin
City Sydney Australia, Wall Street, New York, and
Beyond The Black Stump
Digital
Bush Telegraph
Past.
Present And Future
June
2026
June
3
Markets
ASX
200 futures are pointing up 38 points or 0.4 per cent
to 8789.
AUD
+0.3% to US71.81¢
Bitcoin
$66,667.53 -6.48%
Wall
St:
Dow
+0.5%
S&P +0.1%
Nasdaq +0.03%
VIX
-0.28 to 15.77
Gold +0.1% to $US4488.86 an ounce
Brent oil +0.9% to $US95.79 a barrel
Iron ore +0.5% to $US105.10 a ton
10-year
yield:
US 4.44%
Australia 4.88%
Shares
TKO
Holdings
$204.59
-3.82 -1.84%
Alphabet
Inc Class A
$361.85
-14.52 -3.86%
News
Markets
Double
Check
Australian
Dollar: $0.7180 USD (up $0.0025 USD)
Iron
Ore: $105.10 USD (up $0.70 USD)
Oil
Price (West Texas): $93.39 USD (up $0.88 USD)
Gold
Price : $4,488.92 USD (up $3.96 USD)
Copper
Price (CME): $6.6775 USD (up $0.1105 USD)
Dow
Jones: 51,307.79 (up 228.91 points)
News
ASX
dips on Iran doubts and retail sell-off
The
Australian sharemarket edged lower on Tuesday, with
the S&P/ASX 200 easing 0.1 per cent to close at
8,724.4 points; the benchmark index had shed more
than 1.2 per cent earlier in the trading session.
The latest minimum wage ruling weighed on retailer
and shopping centre owners, with JB Hi-Fi down 5.4
per cent at $71.05 and Vicinity Centres shedding four
per cent to close at $2.42. However, BHP rose 1.4
per cent to a new high of $63.37 and WiseTech Global
was up 7.9 per cent at $42.23. (RMS)
News
Mining:
Australia
Mining
giants fuel surge in renewables financing
Construction
of 2.6 gigawatts of solar energy projects has begun
in Australia since the start of 2026. Data from consulting
firm Rystad Energy shows that nearly 95 per cent of
these projects feature a storage battery. Factors
such as the falling cost of batteries has boosted
investment in solar projects, while Rio Tinto and
Fortescue have also ramped up spending on such projects
to supply energy to their operations in Australia.
Federal Energy Minister Chris Bowen says the 'green'
energy rollout is putting downward pressure on electricity
prices.
News
Bitcoin
News
Bitcoin
is losing the confidence of major holders
Market
Overview
The
crypto market capitalisation has been rapidly shrinking
since the start of the new week, falling by 5% to
$2.38 trillion, its lowest level since early April.
It appears that confidence in the prospects of cryptocurrency
has fallen sharply following reports of a largely
symbolic BTC sale from Strategys balance sheet,
which may be followed by more active selling from
other holders. We also cannot rule out an Iranian
connection, as reports of seizures of Iranian
cryptocurrency undermine the notion of anonymity and
untraceability that has long underpinned the crypto
market. The solid performance of supposedly anonymous
coins fits neatly into this hypothesis. Thus, over
the past 24 hours, the top performers have been NEAR
Protocol (+14.8%), Internet Computer (+10.2%) and
Zcash (+5%). The three worst performers are Stellar
(-13.2%), Basic Attention Token (-10%) and Bitcoin
(-4.3%).
Bitcoin
is accelerating its decline, having fallen to $69K,
even though it started the week just above $74K. As
expected, the drop below the 50-day moving average
a week ago followed more than a week of selling pressure
at that level. Technically, the leading cryptocurrency
faces relatively few obstacles on its way down to
the $65-66K range, but further down, longer-term support
may come into play, having halted the decline in February
and March.
News
Background
According
to CoinShares, global investment in crypto funds fell
by $1.671 billion last week, marking the largest outflow
since January. Investments in Bitcoin fell by $1.438
billion (the largest outflow from BTC this year),
in Ethereum by $257 million, in Solana by $1 million,
and in Sui by $1 million. Investments in altcoins
rose by $20 million in XRP, $11 million in Hyperliquid,
and $8 million in Near.
Sentiment
towards Bitcoin on social media has reached its most
positive level since the start of the year, despite
the crypto markets decline in May, Santiment
notes. In the past, such surges in optimism have often
coincided with local highs in the assets price.
Strategy
has sold Bitcoin for the first time since 2022. Last
week, 32 BTC were sold for approximately $2.5 million
at an average price of $77,135 per coin. The largest
corporate holder of Bitcoin, which had previously
promised never to sell the asset, will use the proceeds
to pay dividends on preference shares.
As
a result of the latest adjustment, Bitcoins
mining difficulty rose by 1.72% to 138.96 T. The figure
has returned to its April highs.
Telegram
founder Pavel Durov has renamed the cryptocurrency
Toncoin (TON) to Gram (GRAM), describing the rebranding
as a return to its roots. The blockchain will retain
the name TON (The Open Network). No action is required
from token holders.
Summary:
Bitcoin accelerated its decline towards $69K amid
a record outflow from crypto funds and Strategys
first BTC sale since 2022, heightening fears among
large holders. (FxPro)
News
The
dollar is back in the game
Rumours
of a breakdown in negotiations have reignited investor
interest in the US dollar.
The
risk of further currency interventions is mounting
along with USDJPY.
The
US dollar rose by 0.4% on Monday following reports
that Iran intended to walk away from negotiations
with the US. Tehrans threat sent oil prices
soaring and reignited investor interest in safe-haven
assets. Strong macroeconomic data also favoured the
bulls on the USD index. However, in the absence of
further escalation, the DXY gave back some of its
gains, stabilising at 99, roughly in the middle of
the range seen over the past two weeks.
The
ISM manufacturing business activity index exceeded
forecasts, rising to 54, its highest level since May
2022. The Purchasing Managers Index has remained
in expansionary territory above 50 for the fifth consecutive
month, indicating the sectors strength.
The
price component of the PMI fell in May compared with
April.
The
strength of the US economy allows the Fed to adopt
a wait-and-see approach. The futures market puts the
odds of the federal funds rate remaining unchanged
in 2026 at 51%, with a 49% probability of a hike.
According to Rabobank, such assessments suggest limited
upside potential for the EURUSD. Two ECB hikes are
already priced into the euro exchange rate. However,
the longer the Strait of Hormuz remains closed, the
more pain the eurozone economy will suffer.
Until
now, the markets have been optimistic about the US-Iran
deal. However, a partial escalation of the conflict,
along with rumours that Tehran is withdrawing from
the negotiations, is making investors nervous. What
if the current dialogue with the Islamic Republic
ends the same way as all the previous ones, i.e.,
in failure?
As
the USDJPY moves higher, the intensity of the governments
verbal interventions is increasing. Finance Minister
Satsuki Katayama is using the same rhetoric she used
ahead of the previous currency market intervention.
She asserts that the authorities are ready to take
appropriate measures at any time, as necessary. Tokyo
is in close contact with Washington regarding the
situation in the Forex market.
Japan
holds colossal foreign exchange reserves of $1.17
trillion, which, according to Goldman Sachs, would
allow it to intervene in the market at least 30 times.
However, a significant portion of these reserves consists
of US Treasury bonds, the sale of which would raise
their yields and is therefore not welcomed by the
US Treasury.
Summary:
Rumours of a breakdown in US-Iran negotiations supported
the dollar, while strong US data boosted demand. Rising
USDJPY increases the risk of currency intervention
in Japan. (FxPro)
News
Pop
Culture
Tomb
Raider: Legacy of Atlantis Sets February 2027 Release
Crystal
Dynamics revealed Tomb Raider: Legacy of Atlantis
during PlayStation's State of Play, locking in a February
12, 2027 launch on PS5, Xbox Series X|S, PC, and Nintendo
Switch 2. The trailer showcases puzzle-filled ruins,
raptor battles, and a nod to the 1996 original's Scion
quest, blending nostalgia with modern traversal and
combat. Pre-orders are open now, with Standard at
$59.99 and Deluxe at $69.99 offering early access
and extras like exclusive outfits. (Media Man Peg-On):
The Legend Lives On!
News
Gaming/UFC
EA
Sports UFC 6 Revives Open Weight Class Selection for
Ranked Matches
EA
Sports UFC 6 restores open weight class selection
in Prospect ranked ladder placement matches, letting
players choose divisions freely just weeks before
the June 19 launch on PS5 and Xbox Series X|S. The
feature, a hit in the first three games, was dropped
in UFC 4 and 5 for rotating classes but returns alongside
revamped fighter ratings and Flow State perks to mix
up matchups. Streamers like Liam Healy hail it as
a game-changer, though some note potential matchmaking
issues in lighter divisions and lament the lack of
PC support at launch. (Media Man Peg-On): The best
of both worlds. Ground and pound and strike action.
Take down your gaming store today, in a food and friendly
way. Road To The White House?!
News
Streaming/Netflix
Netflix
Greenlights War Machine Sequel After Massive Hit
The
sci-fi action film War Machine, directed by Patrick
Hughes and starring Alan Ritchson, launched on Netflix
March 6, 2026, and racked up 39.3 million views in
three days, topping charts in 93 countries for a total
of 139 million views. Its success prompted a quick
sequel greenlight, with Hughes returning to direct
and co-write alongside James Beaufort. Ritchson is
expected to reprise his role as the battle-hardened
engineer, building on the gritty thrills that blended
military realism with Predator-style action. (Media
Man Peg-On): The Big N on fire. Going all guns blazzing.
Netflix for the win!
News
Lucha
Libre
Chad
Gable Unmasks in Epic AAA Mask vs. Mask Win for Ludwig
Kaiser
On
May 30 at AAA's Noche de los Grandes in Arena Monterrey,
WWE's Ludwig Kaiser, as fan-favorite El Grande Americano,
defeated the Original version in a 33-minute brutal
match filled with suplexes, ankle locks, and chair
shots, pinning with his running headbutt. The reveal
showed Chad Gable underneath, who graciously handed
over his mask and promised a return. The bout earned
massive praise, including Dave Meltzer calling it
Gable's career-best and JBL naming him the world's
top wrestler, plus over 2 million YouTube views and
top ratings from fans and insiders. (Media Man Peg-On):
An al time classic. Legendary!
News
Flasback
January
2026
Sports
Business
Banks
called for tennis overhaul
The
Professional Tennis Players Association is seeking
advice from investment banks and other financial advisory
firms on the creation of a new structure for professional
tennis. The PTPA is proposing a structure that would
involve three tiers, with the first, to be known as
the Pinnacle Tour, to include 16 of the sport's most
prestigious events including the grand slams. As part
of the new structure, players would be guaranteed
minimum levels of compensation, including $US1 million
($1.5 million) for those ranked in the top 100, while
Tennis Australia has indicated it is supportive of
the PTPA's plans (RMS)
News
Flashback
January
2026
Sports
Business
Tennis
fans back AO's bold vision to revolutionise sport
Tennis
Australia CEO Craig Tiley has outlined a vision for
the Australian Open that includes drone-powered food
and drink services and no match officials on court.
His plans are part of Tennis Australia's goal of maintaining
the Open's status as the biggest of the four grand
slams by attendance, with more than 1.2 million attending
last year's event. Most fans attending the Open are
supportive of Tiley's vision, although some are worried
it might be getting too big for its own good. Graham
Bradley, who is a former director of Tennis Australia,
says that "we don't apologise for the fact that
we're in the entertainment business, as well as the
sporting business". (RMS)
News
News
Heavy
Industry News
Mack
Trucks wins Media Man 'Truck Manufacturer Of The Month'
award
Caterpillar
wins Media Man 'Heavy Equipment Manufacturer Of The
Month' award
Bingo
Industries wins Media Man 'Construction Brand Of The
Month' award
Elders
wins Media Man 'Agribusiness Of The Month' award
Landman
wins Media Man 'Streaming Series Of The Month' award
(Oil/mining industry based story via Paramount Plus)
News
Gold
Movie
Gold
is a 2016 American epic crime drama film directed
by Stephen Gaghan and written by Patrick Massett and
John Zinman. The film stars Matthew McConaughey, Édgar
Ramírez, Bryce Dallas Howard, Corey Stoll,
Toby Kebbell, Craig T. Nelson, Stacy Keach and Bruce
Greenwood. The film is loosely based on the true story
of the 1997 Bre-X mining scandal, when a massive gold
deposit was supposedly discovered in the jungles of
Indonesia; however, for legal reasons and to enhance
the appeal of the film, character names and story
details were changed.
Trailer
Gold
(YouTube Movies and TV)
https://youtube.com/watch?v=yc0S96OZhi0
Gold
is the epic tale of one man's pursuit of the American
dream, to discover gold. Starring Oscar® winner
Matthew McConaughey (Interstellar, Dallas Buyers Club,
The Wolf Of Wall Street) as Kenny Wells, a modern
day prospector desperate for a lucky break, he teams
up with a similarly eager geologist and sets off on
an amazing journey to find gold in the uncharted jungle
of Indonesia. Getting the gold was hard, but keeping
it would be even harder, sparking an adventure through
the most powerful boardrooms of Wall Street. The film
is inspired by a true story.
News
Flashback
Early
2026
Streaming
Wars
The
"Streaming Wars" refers to the intense competition
among digital media platforms to dominate the subscription
video-on-demand (SVOD) market by capturing and retaining
global audiences.
As
of early 2026, the landscape has shifted from a period
of rapid expansion into a phase of major consolidation
and a focus on profitability over subscriber volume.
The
"Winner" and Current State (2026)
Netflix
Dominance: Industry analysts increasingly cite Netflix
as the victor. In January 2026, Netflix reported 18%
year-over-year revenue growth and is currently pursuing
a high-stakes $83 billion all-cash acquisition of
Warner Bros. Discoverys studio and streaming
assets (including HBO/Max).
The
"Big 3": Despite fierce competition, the
market is primarily dominated by Netflix, Amazon Prime
Video, and Disney+.
YouTube's
Rise: Some experts argue YouTube is the true winner
of the broader attention economy, surpassing traditional
streaming services in total viewership by pivoting
back to user-generated content.
Key
Strategies in 2026
Consolidation:
Smaller or struggling services are being shuttered
or merged. For example, Disney recently shut down
Hulu as a standalone service.
Monetization
Shifts: Platforms have moved away from "growth
at all costs" to strategies like password-sharing
crackdowns, ad-supported tiers, and price hikes.
Live
Sports & Events: Services are increasingly bidding
on live sports rights (e.g., Netflix hosting WWE's
Raw starting in 2025) to differentiate their offerings.
Bundling:
To combat "subscription fatigue," platforms
are forming strategic partnerships with telecommunications
companies and banks to offer bundled service hubs.
Consumer
Impact
Price
Hikes: Many consumers are canceling services due to
rising costs; over 40% of Americans cited price as
their primary reason for unsubscribing in late 2025.
Resurgence
of Piracy: Fragmented content and high costs have
led to a significant comeback for pirate sites, which
some users now find more comprehensive than paid services.
"South
Park: The Streaming Wars": The term was popularized
in mainstream culture by a 2-part South Park special
released on Paramount+ in 2022, which satirized the
industry's aggressive competition.
News/Profile
Hancock
Prospecting Pty Ltd
Hancock
Prospecting Pty Ltd (HPPL) is a privately owned Australian
mineral exploration and agriculture company headquartered
in Perth, Western Australia. As of 2026, it is recognized
as one of the most successful private companies in
Australian history.
Leadership
and Ownership
Executive
Chairwoman: Gina Rinehart AO, who has led the company
since 1992.
CEO:
Garry Korte.
Ownership:
The company is owned by Gina Rinehart (76.6%) and
the Hope Margaret Hancock Trust (23.4%).
Major
Mining Operations
The
company has transitioned from a prospecting firm into
a major global miner, with primary interests in the
Pilbara region:
Roy
Hill: A flagship mega-project and Australias
largest single iron ore mine, producing 6070
million tonnes annually.
Hope
Downs: A 50/50 joint venture with Rio Tinto, comprising
four open-pit mines with a capacity of approximately
47Mtpa.
Atlas
Iron: Acquired in 2018, it operates the Mount Webber,
Sanjiv Ridge, and Miralga Creek mines.
Hancock
Iron Ore: A new entity formed in July 2025 to consolidate
Roy Hill and Atlas Iron operations.
Diversification
and Strategic Investments
Under
Rineharts leadership, the company has expanded
significantly into other sectors:
Agriculture:
Hancock is Australia's second-largest beef producer,
owning over 25 properties including the iconic S.
Kidman & Co. It also owns 50% of Bannister Downs
Dairy.
Critical
Minerals: Major stakes in lithium (Liontown Resources,
Azure Minerals, Vulcan Energy) and rare earths (Arafura
Rare Earths, MP Materials, Lynas Rare Earths).
Energy:
Significant interests in oil and gas through Warrego
Energy and Senex Energy.
International
Ventures: In January 2026, the company signed a gold
exploration license agreement with Saudi Arabia's
state-owned miner, Maaden.
Current
Events (January 2026)
Australia
Day Sponsorship: The company is the principal partner
for the 2026 Hancock Prospecting Australia Day celebrations
in Perth.
Helipad
Proposal: In December 2025, the City of Perth refused
the company's proposal to build a helipad at its West
Perth headquarters.
Financial
Performance: For the 2025 fiscal year, the company
reported a profit of AU$3.08 billion.
History
The
company was founded on November 25, 1955, by Lang
Hancock, who is credited with discovering the world's
largest iron ore deposit in 1952. When Gina Rinehart
took over following his death in 1992, the company
was in a precarious financial state with significant
debt.
News
Gold
(1974)
Gold
is a 1974 British action-thriller directed by Peter
R. Hunt, starring Roger Moore and Susannah York. Based
on the 1970 novel Gold Mine by Wilbur Smith, the film
is set in the South African goldfields and follows
a conspiracy by a global syndicate to manipulate the
price of gold by sabotaging a rich mine.
Plot:
Rod Slater (Moore), a newly appointed general manager,
is manipulated by his boss, Manfred Steyner (Bradford
Dillman), into drilling through a protective barrier
into a subterranean lake. This is intended to flood
the mine, causing a global gold shortage and driving
up prices for a greedy cabal.
Production
Controversy: The film was controversially shot on
location in South Africa during the apartheid era.
This led to a "black ban" by British film
unions, though some crew members defied it to work
on the production.
James
Bond Connection: Many crew members were veterans of
the James Bond franchise, including director Peter
Hunt (On Her Majesty's Secret Service), editor John
Glen, and title designer Maurice Binder.
Accolades:
The film received an Academy Award nomination for
Best Original Song for "Wherever Love Takes Me,"
composed by Elmer Bernstein and sung by Maureen McGovern.
Cast
& Crew
Rod
Slater: Roger Moore
Terry Steyner: Susannah York
Hurry Hirschfeld: Ray Milland
Manfred Steyner: Bradford Dillman
Farrell: John Gielgud
Director:
Peter R. Hunt
Music:
Elmer Bernstein
Availability
in 2026
As
of 2026, the film is available through several formats
and platforms:
Streaming:
Accessible on Prime Video, Tubi, and Roku devices.
Physical
Media: High-definition restorations are available
on Blu-ray and DVD from Kino Lorber and 88 Films
News
Pop
Culture
"Gold"
(Spandau Ballet)
"Gold"
is a signature 1983 hit by the British New Romantic
band Spandau Ballet, written by Gary Kemp.
Lyrics
Thank
you for coming home I'm sorry that the chairs are
all worn I left them here, I could have sworn These
are my salad days Slowly being eaten away Just another
play for today Oh, but I'm proud of you, but I'm proud
of you
Nothing
left to make me feel small Luck has left me standing
so tall
Thank
you for coming home I'm sorry that the chairs are
all worn I left them here I could have sworn
These are my salad days Slowly being eaten away Just
another play for today Oh but I'm proud of you but
I'm proud of you
Nothing
left to make me feel small Luck has left me standing
so tall
Gold
(gold)
Always believe in your soul You've got the power to
know You're indestructible Always believe in
'Cause you are
Gold (gold)
Glad that you're bound to return There's something
I could have learned You're indestructible Always
believin'
Oh
after the rush has gone I hope you find a little more
time Remember we were partners in crime It's only
two years ago
The man with the suit and the face You knew that he
was there on the case Now he's in love with you he's
in love with you
My
love is like a high prison wall But you could leave
me standing so tall
Gold
(gold)
Always believe in your soul You've got the power to
know You're indestructible Always believe in 'Cause
you are
Gold (gold)
Glad that you're bound to return There's something
I could have learned You're indestructible Always
believin'
My
love is like a high prison wall And you could leave
me standing so tall
Gold
(gold)
Oh always believe in your soul You've got the power
to know You're indestructible Always believe in 'Cause
you are
Gold (gold)
Glad that you're bound to return Something I could
have learned You're indestructible Always believin'
Songwriter: Gary James Kemp
Spandau
Ballet - Gold (HD Remastered)
https://youtube.com/watch?v=ntG50eXbBtc
Official
video of Spandau Ballet performing 'Gold' from their
1983 third album 'True'.
Gary
Kemp wrote both the music and lyrics; the song was
produced by the partnership of Steve Jolley and Tony
Swain. The music video was filmed on location in Carmona,
Spain and directed by Brian Duffy. The video featured
Sadie Frost as a gold-painted nymph, in one of her
earlier roles. Some parts of the music video were
also filmed in Leighton House, which was also used
in the video for "Golden Brown" by The Stranglers.
Spandau
Ballet are one of Britains great iconic bands
having sold over 25 million records, scored numerous
multi-platinum albums and amassed 23 hit singles across
the globe since their humble beginnings as a group
of friends with dreams of stardom in the late 1970s.
It wasnt long before they became fully-fledged
members of the iconic Blitz Club scene and established
themselves as one of the super-groups of the 80s.
The
band's classic line-up features brothers Gary and
Martin Kemp on guitars, vocalist Tony Hadley, saxophonist
Steve Norman and drummer John Keeble.
Spandau
Ballets hits include Gold, True, To Cut A Long
Story Short, Through The Barricades and many more.
News
The
Australian Financial Review wins Media Man 'Newspaper
Of The Month' award
Roy
Morgan wins Media Man 'News Services Business Of The
Month' award
Sky
News Australia wins Media Man 'Australian Media Outlet
Of The Month' award
Media
Man
News
Flashback
The Business Of Branson, by Tara Weiss - 17th October
2008
(Credit:
Forbes)
As you might imagine, Sir Richard
Branson finds most business advice books boring
and esoteric. So when writing his latest book,
Business Stripped Bare: Adventures of a Global
Entrepreneur, he stayed away from dos and don'ts.
Instead,
he packed it full of examples from his experience
building the Virgin Group. There's the story about
the cleaning lady at the Manor Recording Studios
Branson made into the managing director of Virgin's
recording division. And then there's the masseuse
of Virgin Atlantic who became manager of the Kasbah,
Virgin's hotel in Asni, Morocco.
His
point: "We look for people who can grow into
their work and respond with excitement when we
give them greater responsibility," he writes.
"Jobs, after all, can be learned."
Sir
Richard recently called from his Caribbean Island,
Necker, to discuss finding the right staffers,
learning from mistakes and his new spaceship.
Here's an edited version of the discussion:
Forbes.com:
This book is business 101, Branson-style. But
you don’t seem like the kind of person who
would even read a business book. How is this book
different from other business books?
Branson:
I don't read a lot of business books, but when
I'm at book stores I open them and find a long
list of dos and don'ts. I find that boring. I
tried to write a book that is effusing personal
experiences and hopefully helping people who want
to set up a business. People need to get out there
and try new things and learn by falling flat on
their face. It's like the laws of the jungle.
They'll learn a lot more.
Does
your advice for managers or business owners change
as a result of the financial crisis?
The
basic rules still apply. Protect the downside.
When we bought our first 747 from Boeing (nyse:
BA - news - people ) we didn't know whether the
airline would be successful. We did a deal with
Boeing where we could hand it back at the end
of the first year if anything went wrong. Our
downside was protected. We wouldn't bring the
record group down if the airline business didn't
work out. The banks today have forgotten that
basic rule. They didn't plan for the worst eventualities
and wound up bankrupting the whole of the banking
system as a result.
You
talk a lot about the importance of your staff.
What are the biggest mistakes hiring managers
make when bringing on staffers?
Some
companies rely too heavily on the CV and not enough
on personality. You can find able graduates with
great CVs, but finding people who have great personalities
who are good at motivating people and care about
people, that's trickier. If you put the wrong
character into a company, you can upset everybody.
If you can get the right person who is good at
motivating, delegating and doesn't use the "I"
word very much, then you have a great, happy company.
We
have a philosophy at Virgin of trying to promote
from within. The advantage is you know someone's
weaknesses and strengths when they get promoted.
We often promote people above the position they'd
expect. I've had the cleaning lady running the
record studio. I've had someone who was a flight
attendant managing a hotel. She worked her way
up.
How
did you figure out the cleaning lady would be
good at running the record studio?
She
had personality and was great with people. She
knew that motivating people is the number one
strength at being a good manager.
Have
you ever had to lay anyone off personally?
I'm
not good at it. I'll go through extraordinary
lengths to avoid it as a company. If someone doesn't
work out at one company, rather than thinking
they're not good for us, we'll put them in another
position.
What
advice would you give managers who have to deal
with layoffs at their company? It's something
so many managers are dealing with today.
Take
everybody out and have a staff party. You need
to get across to people that the cuts made are
as far as the company needs to go. By working
hard we can get people back who have been laid
off. It's important that the staff enjoys the
company since most of our adult life is spent
working.
Let's
switch topics. How's your spaceship, Virgin Galactic,
coming?
The
mothership is finished and will be flying next
month. The spaceships themselves are being built.
The first ship will start test flights in 12 months.
Hopefully within 18 months to two years we'll
take up our astronauts.
What
will a flight be like? Just up and down?
Our
first flights will be about a three-hour flight
from liftoff going into space. People will go
up to 60,000 feet attached under the mothership.
The spaceship will drop away. Passengers will
then unbuckle their seatbelts and float around,
look out the windows and check out the earth.
The
word maverick has been thrown around a lot during
the U.S.'s current presidential election season.
That's a word that's been used to describe you.
Who is more of a maverick: You or John McCain?
I'm
going to dodge the question.
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