Giving to the wealthy

I’m not much of a fan of giving to wealthy causes. Like private schools for the well healed. I was asked to attend an interview to see if I’d go on the Council of my daughter’s private school – which I said I would. I was then asked if I was Jewish (it’s an Anglican School) and said that I wasn’t but that I was a bit shocked to be asked. I didn’t bore the Principal with the details of my religious status as a lapsed atheist. Anyway with that apparently smoothed over I was invited to an evening which turned out to be hard core fund raising.

A donation of 20K seemed in order, but was not forthcoming. And for whatever reason my candidature didn’t proceed any further. (I also opined on a tour of the campus that I thought it would be a pity if they ripped out the only remaining grass covered oval and replaced it with synthetic grass, no matter how much truer it made they hockey balls travel.)

Today I got an invitation to give money to Ormond College where I spent a year. It was cleverly crafted – written to me by someone in my year with a personal note to me. This was my chance to make a difference for the next generation. I could contribute to allowing someone hard of means to attend the College. Well that’s better than contributing to someone easy of means I guess. Anyway it transpired that to qualify, this person who was hard of means had to be someone whose parents had attended Ormond. And yes, they might have been hard of means, but then they might just have been good at minimising their income. I decided to pass.

Computer nudges: not always a big success

I tend to avoid business class even when entitled to it except for overnight flights, but being entitled to business class travel on a government board the computer always requires me to explain myself. And though it has an option where you can say that you’re entitled to fly at a higher class, it doesn’t have an option to allow you to explain that you’re happy enough with a lower class fare. So much so that the computer decided to take a couple of hours out of my life and nearly three times as much off the government in order to send me business class. So I had to tell the system that I was overriding it, though, since none of the pull down reasons were the reason I was doing what I was doing, I picked “LPF/IBF ACCEPTED “. No doubt a reader can tell me what that means, but I had no idea. At least I wasn’t telling a lie as I would have been by choosing any of the other options which I knew were wrong. Seemed to do the trick.
Flight (MELBOURNE to CANBERRA): Wed 21 Mar 2012
Airline Depart Arrival Flight No. Stops Fare Type Price
19:00 20:05 QF822 0 FULLY FLEXIBLE *P AUD $333.83
Best Available Fare In Policy
Airline Depart Arrival Flight No. Stops Fare Type Price
Sector 1 - MELBOURNE to SYDNEY
19:00 20:25 QF462 0 BUSINESS  *P  AUD$1,031.00
Sector 2 - SYDNEY to CANBERRA
21:10 22:05 QF807 0
Cheaper fare selected outside of policy.
Change flight to Best Fare:
Please select reason for not choosing best fare:                                       Please select a reason…                                                                      LPF/IBF ACCEPTED                                                                      APPROVAL/ENTITLEMENT TO TRAVEL AT HIGHER FARE CLASS                                                                      REQUIRE FLEXIBILITY TO CHANGE BOOKING                                                                      HEALTH AND SAFETY ISSUES – PERSONAL RESPONSIBILITIES                                                                      UNSUITABLE DUE TO TIME ROUTING OR CONNECTIONS

Australia gets Baufritz Homes

A friend of mine, and a great contributor to Australian public policy, Mike Waller, a man who sketched out Australian competition policy on a single page and fed it up the line as an FAS in PM&C in the late 80s (or perhaps it was 1990), has wrenched himself from the policy scene (though not entirely, as he keeps his hand in with consulting and other occasional gigs) and joined a few others in setting up a company which will initially import Baufritz homes and which will ultimately build quite a lot of them here.

Baufritz homes are about the most ecologically fine habitation one can buy. Extremely energy efficient, made without nasty emissions, emulsions and things like that, they are exceptionally comfy. They are also quite pricey, but what do you expect for comfort?

One of the things that excites Mike is the fact that Australian homes are still built according to the craft model, with people turning up on site and building the house. There’s more prefabrication in units (with the efficiency gains having been captured and then some by the unions), but in houses there should be a lot more factory pre-fabrication with the ultimate building resembling a barn raising. This can reduce cost, and improve the quality and efficiency of houses.

Houses will initially be largely imported from Germany but will be progressively displaced by Australian production as scale rises. So drop into the new site of MGW Homes and let MGW know if you’re interested in buying one.

Different responses to a big opportunity

Home loan market share

Look at this graph of the great tectonic shifts brought about by the GFC. Securitisation collapsed as a form of funding, and those in the official family ran round doling out gold plated assistance like free government guarantees to our banks (and next to nothing for our securitisers). The opportunity was taken up by just two of the four banking oligarchs, with the other two deciding to let the moment pass. ANZ was busy leveraging its government guarantee to buy Asian banking assets and NAB, well I’m not sure what NAB was doing. Perhaps they and ANZ invested wisely, but you’d work a long time to pick up the market share that Westpac and CBA managed to do at the time.

Kaggle closes its Series A round

I know you’re all on the edges of your seats about how Kaggle is going.

The answer is “very well”. We’ve just announced the closure of Series A funding.

And you can read all about it in the New York Times, the Independent or Gigaom.

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