07 Oct IPOs: IT’S ALL ABOUT THE MI$$ION, MI$$ION, MI$$ION; READY TO GET BACK TO THE OFFICE? NOT SO FAST…
Welcome to this week’s business and media intelligence update.
READY TO GET BACK TO THE OFFICE? NOT SO FAST …
As Sydney gears up for its official re-opening, as early as next week, Deloitte has become the first of the big four consultancies to mandate vaccinations for all its employees.
It follows in the footsteps of law firm Gilbert & Tobin, which is also requiring its employees to be fully vaccinated if they want to return to their desks.
But vaccinated or not, there are some hiccups along the way.
For example, global co-working giant WeWork has defaulted on rental payments in Sydney, Melbourne, and Perth, in part because of the collapse in rents due to pandemic related shutdowns. The property start-up’s high profile IPO of 2019 brought to light major financial issues within the company, and its Australian arm recorded a $102.5 million loss in 2020.
And the most recent lockdowns have taken a toll on the CBDs of our two largest cities, with a survey by the Property Council of Australia showing office occupancies in Sydney and Melbourne standing at four per cent and six per cent, respectively.
While NSW will allow offices to re-open once the state-wide vaccination rate hits 80 percent, the Property Council survey confirms that most employees are not expected to return to their CBD offices till next year.
IPOs: IT’S ALL ABOUT THE MI$$ION, MI$$ION, MI$$ION
For the latest crop of IPOs in the US, it’s about the mission, not just the money.
Makes sense. With global ESG funds seeing record inflows, companies looking to go public are jumping on the sustainability and do-good bandwagon.
Where 30 years ago, companies headed for the bourse would have touted their strong bottom lines, and commitment to their shareholders, this year’s batch of debutantes is focused on the triple bottom line, touting their charity work, environmental credentials, and sustainable supply chains.
So, is it a sea change? Or just clever marketing? Read the WSJ piece and decide for yourself.
ADAM SANDLER: BACK IN VOGUE!
Adam Sandler is the favourite celebrity of US Generation Z members, according to new research by US investment bank Piper Sandler.
Titled, Taking Stock with Teens, the survey looked at 10,000 teenagers’ responses across the US, and unearthed trends about how Generation Z will consume, pay and connect with brands and businesses.
While some insights may cause you to question Gen Z’s movie tastes, others provide Australian businesses and investors with a fascinating window into the minds of a generation that – along with Millennials – will control 47 per cent of consumer spending in Australia by 2030.
Among its more interesting findings:
- Cash remains the top payment method for this generation, followed by Apple Pay and PayPal.
- Clothing is the top spending priority, ahead of food.
- Environment and racial equality are the top political issues.
- Amazon is sited by 52 per cent of Gen Z members as their favourite e-commerce site.
Read more about the survey here.
A CRISIS LIKE NO OTHER
While most crises are short, sharp and painful, the global pandemic and intermittent lockdowns have changed the game for crisis communications.
The conventional wisdom of crisis management may not do the trick, and a different approach is now required.
Cannings CEO Luis M Garcia spoke to Company Director Magazine on how COVID-19 has changed the way boards and chief executives communicate with key stakeholders.
Read the article here.
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