UWS holds public forum on US bosses' bonuses

The University of Western Sydney's College of Business will hold a public forum on Wednesday, May 28, to highlight the corporate scandal that has seen US executives fiddle their bonuses to get a better price at the expense of shareholders. Professor Cindy Schipani, from the University of Michigan, who has exposed the loophole, will attend. Professor Schipani has investigated the practice of paying executives of major US companies’ bonuses as options - options that only have real value if they are converted to shares. The forum will be held in Building EE, Room G.19, Parramatta Campus, from12.30 to 1.30pm.

Sydney Water could lose key staff with move

Dr Kerry Schott, managing director, of Sydney Water, said transport would be a major issue when 1800 head office and other staff relocated from the Sydney CBD to its new headquarters in Parramatta, in March 2009. She told 100 attendees at a sustainability seminar in Parramatta that she feared the loss of key high-quality staff when the move was made.

Mulpha takes a stake in Kell & Rigby

The Australian arm of Mulpha International the largest Malaysian real estate investor in Australia, whose assets in include Norwest Business Park, has acquired an undisclosed stake in the privately owned construction company, Kell & Rigby, at Strathfield South. Under the deal Mulpha will be entitled to two seats on the five-person Kell and Rigby board.

Building Eclipses the competition

Leighton Properties NSW manager, Andrew Cooper, said the $160 million, 20-storey The Eclipse office building, proposed on the corner of Hassall and Station streets,in the Parramatta CBD, would surpass other buildings in the city because of its design; it would not be a rectangular or square building. While Leighton Properties and its partner, Grosvenor, expect to complete the building by the end of 2010, it has yet to receive DA approval.

Tenants sign for the $1.1b Top Ryde City centre

Defined Developments, project manager of the $1.1 billion Top Ryde City mixed-use centre, has sign up major tenants such as Myer, Big W, Woolworths, Franklins and Aldi, and numerous speciality outlets. Talks are proceeding with cinema operators. The centre would comprise 280 brand and boutique stores, 10,000 squares metres of office space and more than 400 apartments. The 78,000 square metre retail component, expected to cost $840 million and be completed by July 2010. The commercial and residential components are expected to be finished in June 2013, according to The Australian Financial Review.

Profit of women's apparel retailer drops

The Kings Park-based apparel retailer, Noni B, said its full-year net profit would drop from $8.3 million last year to between $6 million and $6.7 million for the year ending June 30, 2008. Joint MD, David Kindl said NSW, which accounted for 40 per cent of the group’s 201 stores, had been struggling as higher interest rates, rising food and fuel prices and the credit squeeze hit into its revenue. He said the performance of its flagship Noni B and Liz Jordan brands was in line with last year’s performance, its newer La Voca store chain posted a $800,000 half-year loss. The group’s full-year results will be released on August 20.

Private investor bjuys a petrol station

A private investor based in south-western Sydney has purchased a petrol station at Edgeworth, about 20 kilometres south of the Newcastle CBD, for $1.4 million from PDM Pty Ltd. Woolworths, trading as Woolworths Caltex Petrol Station, is the current tenant has seven years on its lease, according to The Australian Financial Review.