Edi­tor's let­ter

The Australian - The Deal - - Firstup - GLENDA KOR­PO­RAAL

It’s the role of an au­thor­i­ta­tive daily news­pa­per, such as The Aus­tralian, to re­port and an­a­lyse break­ing news. But it is the role of a mag­a­zine, such as the deal, to dig deeper, to high­light un­der­ly­ing is­sues in busi­ness and the econ­omy, and to find the peo­ple do­ing the most in­ter­est­ing deals and shap­ing the fu­ture of their sec­tor. In this is­sue, we visit a loft in an in­dus­trial sub­urb of in­ner Syd­ney, where a group of peo­ple is work­ing at the cut­ting edge of re­tail­ing. While we read daily about the prob­lems of con­ven­tional re­tail­ing and depart­ment stores, the tea­mat Ar­den Point, Tem­ple& Web­ster and Par­cel Point, whose of­fices are above a car-re­pair busi­ness, rep­re­sents an ecosys­tem of in­vestors, en­trepreneurs and in­no­va­tive retailers. Busi­ness re­porter Lisa Macna­mara, who last month pro­filed out­go­ing eBay Aus­tralia chief ex­ec­u­tive Deb­o­rah Sharkey, tells their story. See page 8. Aus­tralia’s ties with China are be­com­ing deeper and more com­plex, while Chi­nese com­pa­nies are now much more so­phis­ti­cated in the way they ap­proach for­eign in­vest­ment deals. In­vest­ment banker An­drew Low spent six years in Hong Kong head­ing up Mac­quarie Cap­i­tal’s Asian busi­ness be­fore go­ing out on his own with an Aus­tralian-based cor­po­rate ad­vi­sory busi­ness. He was a key fig­ure ad­vis­ing a Chi­nese com­pany on a highly un­usual takeover fi­nalised ear­lier this year. It in­volved play­ers in North Amer­ica, China and Aus­tralia and fo­cused on a lithium mine in the south west cor­ner of Western Aus­tralia. The Green­bushes mine is a crit­i­cal sup­plier to a Chi­nese com­pany that makes bat­ter­ies for mo­bile phones and elec­tric cars. See page 12.

Go­ing to a mu­si­cal can be fun, but mak­ing money out of them is a risky busi­ness. Arts writer Michaela Boland looks be­hind the

spec­ta­cle of King Kong and Priscilla, Queen

of the Desert to find a group of ner­vous en­trepreneurs and in­vestors, for whom ev­ery new pro­ject is a huge gam­ble. It is a tough busi­ness, but some­times, just some­times, they get lucky. See page 20.

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