Good story about Kerry Packer. But Jamie a smart guy? I don't think so. Remember how he got sucked into One-Tel? One-Tel's business plan was to lease phone lines off Telstra for $1.10 a call and sub-lease them to consumers for $1.00 per call. (Averaged over local and STD, according to Telstra's annual report at the time their costs were about $1 per call - so they were making money, but no room for discounts) Paddy and Mick decided to go into the hotel business. They sold beer at $1.00 a glass but the brewery charged $1.10 per glass-full. After a while Paddy noticed they had less money than when they started and told Mick they needed to do something. So Mick said "We must not be getting enough customers - reduce beers to 90 cents - that'll get them in!" (For any American readers - this is an old Assie joke)
I loved Mr Kerry Packer he was the Donald Trump of Australia a long time before Donald Trump became President of America both extremely upfront brillant man of this world and one I'm very proud to say was Australian and really had a heart of gold he just never suffered fools or lier's great business man
Good point. I would have told kerry that my business is a major component and pathway to getting one of lifes big goals on the road: owning your own house (otherwise known as the Australian dream). Unlike a stupid low budget film made by a Vietnamese immigrant where he said the Australian dream was to own a holden ute. If I had one I'd sell the shitbox.
Correct: Example - the business is worth $ 100.00 but is owned 100% by Mark, If Kerry puts in the full (intrinsic) value of the business then the he puts in $ 100.00 as well. The business is then worth $ 200.00 - 50% ($ 100.00) owned by Mark and 50% ($ 100.00) owned by Kerry. Kerry wasn't buying Mark out - he wanted to invest in equal share with Mark in the business in the hope of getting dividend (profit share) each year or the value of the business go up and he can then sell his shares for a higher amount.
@@presidentxijinpingspoxdoct9756 Kerry frequented the occasional Casino... wink, wink... he must have taken a punt on this as well... you lose some, you win some. When the interest rates got low there was no other point of difference between Wizard and the Banks. Having said that we see that Aussie and RAMS have switched their model to include bank offerings. I don't think the message of "hopes and dreams" really echo'd from the Wizard camp while Aussie will "save" you and I don't think the Rams have ever battled the Banks but more worked with them hence their continuation. Even though we don't see John or James Symonds in Australia's top 50 rich list I'd gladly have some of their crumbs.
@@presidentxijinpingspoxdoct9756 Wizard Home Loans was founded by Bouris in 1996 and was sold to GE Money in 2004 for $500 million. So Bouris sold his half for $250M. Kerry helped him pump and dump it before the market collapsed. Good deal.
The correct answer to the question 'What business are you in?' is critical to the sucess of the business. Far too many cannot define this and their business suffers because the motivation is not correct. Thing is, its not at all easy to do! The fact that he was ashing that question way back then shows just how far ahead Packer was in his thinking. Going to the cricket? What business are they in, cricket? Wrong, entertainment, so what about day/night 25 over games? He knew.
What i learnt from Kerry Packer. When you are losing 10 million coming to the last at Randwick races [1987] have a get out bet of 11million to 2 so you win a million on the day. Just won on post. Not general knowledge
@@moaazmq Just saying Kerry had balls. This bet was not general knowledge . He had a bet of 11million to two million on the last at Randwick races after being down 10 million on the day in 1987. Huge now, massive then. The horse won by a short half head so he won a million on the day. The bet was shared between a number of bookmakers. Shows you how big the betting industry was in Australia in those days. It is now a joke destroyed by corporate bookmakers while racing authorities and state governments stood and watched.
Love the story telling. I was hanging on every word. Now to find the rest.....
Yes, very stupidly edited.
where is the rest of this????
Three questions of which we hear one. 'Mark Bouris on 1/3 of what he learnt from Kerry Packer.'
Everyone wants a shoulder over their head? Doesn’t he mean roof?
The three questions were:
What business are you in?
Have you failed in business?
Are you accountable?
I like his watch.
IWC Big Pilot
Good story about Kerry Packer. But Jamie a smart guy? I don't think so. Remember how he got sucked into One-Tel? One-Tel's business plan was to lease phone lines off Telstra for $1.10 a call and sub-lease them to consumers for $1.00 per call. (Averaged over local and STD, according to Telstra's annual report at the time their costs were about $1 per call - so they were making money, but no room for discounts)
Paddy and Mick decided to go into the hotel business. They sold beer at $1.00 a glass but the brewery charged $1.10 per glass-full. After a while Paddy noticed they had less money than when they started and told Mick they needed to do something. So Mick said "We must not be getting enough customers - reduce beers to 90 cents - that'll get them in!" (For any American readers - this is an old Assie joke)
where's 2 and 3?
He is smart fella.., just being you mark . So much respect bother!!!
This should be VIRAL ! A+ for Attitude, style, etc. WHY IS IT OVERLOOKED ?
Friends disappear when money is involved 👊🏽
Did he also teach you to get your levels right?
Obviously not
I loved Mr Kerry Packer he was the Donald Trump of Australia a long time before Donald Trump became President of America both extremely upfront brillant man of this world and one I'm very proud to say was Australian and really had a heart of gold he just never suffered fools or lier's great business man
@@charmainemiles4089 except Trump most certainly does not have a heart of gold
@@charmainemiles4089 Most insulting thing ever said about KP. He'd have seen through Trump in a second.
@@Elitist20seen what exactly? Trump & him were friends.
Two Aussie hunks duking it out in the boardroom!
Good point. I would have told kerry that my business is a major component and pathway to getting one of lifes big goals on the road: owning your own house (otherwise known as the Australian dream). Unlike a stupid low budget film made by a Vietnamese immigrant where he said the Australian dream was to own a holden ute. If I had one I'd sell the shitbox.
Shelter... We can build it...
i dont get it. put whole value and own half??
Correct: Example - the business is worth $ 100.00 but is owned 100% by Mark, If Kerry puts in the full (intrinsic) value of the business then the he puts in $ 100.00 as well. The business is then worth $ 200.00 - 50% ($ 100.00) owned by Mark and 50% ($ 100.00) owned by Kerry. Kerry wasn't buying Mark out - he wanted to invest in equal share with Mark in the business in the hope of getting dividend (profit share) each year or the value of the business go up and he can then sell his shares for a higher amount.
@@markhahnsmum still in limbo.🤔
@@markhahnsmum how did the that investment turn out for Packer?
@@presidentxijinpingspoxdoct9756 Kerry frequented the occasional Casino... wink, wink... he must have taken a punt on this as well... you lose some, you win some. When the interest rates got low there was no other point of difference between Wizard and the Banks. Having said that we see that Aussie and RAMS have switched their model to include bank offerings. I don't think the message of "hopes and dreams" really echo'd from the Wizard camp while Aussie will "save" you and I don't think the Rams have ever battled the Banks but more worked with them hence their continuation. Even though we don't see John or James Symonds in Australia's top 50 rich list I'd gladly have some of their crumbs.
@@presidentxijinpingspoxdoct9756 Wizard Home Loans was founded by Bouris in 1996 and was sold to GE Money in 2004 for $500 million. So Bouris sold his half for $250M. Kerry helped him pump and dump it before the market collapsed. Good deal.
🔺
Roof over their shoulders?
He said shelter over their head.
Who cares
A goof
Speak up mate.....
Jesus Christ
gg bro
Whatever!
Gronk
Obviosly no idea about Negotiation ? Both big headed money hungry knobs
Kerry Packer was in the business of....
Don't waste your time. Nothing to learn here. Kerry Packer taught him? Well, where is his business now?
Just like hisTV show " The Mentor" only lasted one season
He sold it for 100s of millions of dollars to GE
The correct answer to the question 'What business are you in?' is critical to the sucess of the business. Far too many cannot define this and their business suffers because the motivation is not correct. Thing is, its not at all easy to do!
The fact that he was ashing that question way back then shows just how far ahead Packer was in his thinking.
Going to the cricket? What business are they in, cricket? Wrong, entertainment, so what about day/night 25 over games? He knew.
There’s only one Kerry packer
The office chair story was completely plagiarised from Charlie Chaplin Great Dictator movie
A shoulder over their head?
Andrew B. Think he says (or at least meant) “Shelter”...
@@Hulstro thank you brother
Toss Pitt
Question one and then its over
What i learnt from Kerry Packer. When you are losing 10 million coming to the last at Randwick races [1987]
have a get out bet of 11million to 2 so you win a million on the day. Just won on post. Not general knowledge
can you explain this, This went over my head but sounds interesting
@@moaazmq Just saying Kerry had balls. This bet was not general knowledge . He had a bet of 11million to two million on the last at Randwick races after being down 10 million on the day in 1987. Huge now, massive then. The horse won by a short half head so he won a million on the day. The bet was shared between a number of bookmakers. Shows you how big the betting industry was in Australia in those days.
It is now a joke destroyed by corporate bookmakers while racing authorities and state governments stood and watched.
Full on …a constitutional conservative lol
ermmm . you mean roof
He said shelter over their head.
Dont remember him associating with Kerry Packer, I dont think Kerry would want him tagging along, fake news.
But who are you
To convince the Aus public …. Ya need to sound like you didn’t learn swear words yesterday ! Conviction is everything 😎
but you cant buy your way out of old age and death.......