If you're wondering where @Geo_papic and I have been...my daughters have been sick and Marko's been on the road, plus headlines change every 15 mins, but we'll be back at you by end of the week. And if you want more from us...spread. the. gospel!
geopolitical-cousins.captivate.fm
Every once in a while a few times a year, Tyler Cowen interviews a top-ten expert who hasn’t thought about his topic anywhere nearly as deeply as Tyler Cowen, and, even on a car sound system, you can see the subsonic waves of panic emanating from the guest.
@BaronPhilbert@acaseofthegolf1 Interesting. Bob Brown limping to victory due to gout totally unsurprising. I was once told a story of a kid hitch hiking back to Bendigo. Bob pulls over and asks him if he can drive!
@acaseofthegolf1 They used to have the courage ('57). First time ever in Victorian pro golf, effectively called by peers. Sure, the guy being penalised was my mate's Dad but he'd appreciate me using it for good vs evil (posthumously). Maybe rollback can get in line. #speedup
If Scottie Scheffler isn't playing his best, he can't hide his utter disdain for dealing with media. He just wrapped up a 2 min interview with PGA Tour Radio before turning to the scrum. You can tell he has no interest in doing this. Watch the very end when he almost shakes his head in disgust.
If, in 20 years time, some young kid interested in golf course architecture comes to me and says he's heard about Sam Berriman and Vern Morcom, where will I be able to point him for examples of their work?
$MYX.AX : AGM Questions 29 Jan
A selection for those that are interested:
1. WHY doesn't ANYONE on the board have significant equity in the business? (That's the BIG one, ask repeatedly, they sell it as soon as they get it)
2. Do you intend to DIVEST the US business to return value to investors who collectively have several hundred million in unrealised losses?
3. Why is management rewarded on an "adjusted EBITDA" that does not include the vast amount of royalties paid to the IP holders? (If you include royalties and other payments the US business has a negative return on equity. Basically money is bled off to IP holders and management before it hits equity).
4. The scheme failed because of poor performance in Q3 2025. Why does management continue to dilute shareholder value with options despite this failure? Why did the same management do the strategic review?
5. Do you plan to engage the government about their theft of Salisbury from shareholders as a sovereign asset? At the very least they should underwrite the Australian business or provide cheap debt.
6. Do you plan to engage IP holders to renegotiate the IP as a profit sharing arrangement instead of them taking high double digit percentages of revenue off the top which is unsustainable for the business.
The real problem with Mayne is that in my view it is in a terminal spiral unless it renegotiates the IP but it will not do that when management is rewarded irrespective of the bleed from equity to royalties and management options. It needs someone with skin in the game to be on the board. It is solvable but needs someone with the right incentives on the board
@AusGolfPassport The rankings edition bump? 😄
Well done guys. Must be an AGP event in the wings. Can I suggest 9 holes at Westgate followed by pizza. 😉
We’ve ended the year in a high. Thank you to all our listeners for everything through 2025. The DMs, listener questions, feedback and more. We really appreciate it. May 2026 be bigger & better for us all. ⛳️
@AusGolfPassport Pretty good list but a shame you were unable to overcome the Kingston Heath groupthink. Time to get Brian Walshe back on the pod. Though you did make a solid case for why it belongs in the 12-25 bucket with Yarra Yarra and Commonwealth.
Latest episode of Australian Golf Passport podcast is the crescendo of the Australian Top 50 course rankings. Listen to the count from 11 to 1. open.spotify.com/episode/2Ocp3G…
Latest episode of Australian Golf Passport podcast is out now. We continue our count through the nation’s best 50 courses, focussing on rank 25 down to 12. Click below to listen. open.spotify.com/episode/6N6cRH…
Latest episode of Australian Golf Passport podcast is live - we announce our Top 50 Australian Golf Courses ranking for 2025, and run through 26-50. Click the link in the bio to listen, or head across to wherever you get your podcasts.
@AusGolfPassport Great work guys. Very impressed by how far Scott has come, some very intelligent and nuanced commentary. Spot on with RA and RQ. Both great fun and full of variety. I'd have both ahead of KH in a 10 round split.
The grand opening today of the 6 green, multiple (18+) option short course designed and built by our Australian team on 20 acres of private land in Victoria.
Fortunately, @mikeclaytongolf is not able to enter our Holes That Aren't Holes competition else he would have a serious head start.
Kate Torgersen is our special guest for the latest episode of Australian Golf Passport podcast. We talk sandbelt vegetation and more. Click to listen - open.spotify.com/episode/5bV8g3…