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Sambhar Mafia - Cooked To Kill!

Friday, October 28, 2005

The World’s Oldest Profession Inc.

There are various industries, which take the IPO route to raise funds. I never imagined that the world’s oldest profession would also use the IPO route for their capital requirements. This has come as a surprise to me. Melbourne based Daily Planet has been listed on the Australian Stock Exchange for the last 2 years. After all, it may not be such a bad investment as the business operates on a cash basis (which eliminates bad debts) and they normally don’t suffer (during recession) when the rest of the economy is in a downturn. So the stock could actually outperform the market.

But where do you slot the whole business? Along with property or real estate bunch? How about in the tourism and hot spots industry? For that matter, why not in health and personal care group? Or in sports and leisure section? Out of politeness, I am not getting into computer applications. As you see, the possibilities are really endless.

It is also easy for ad gurus to lick their lips in anticipation? For what? To show what they are creatively capable of. But there are some off-the-shelf ad lines that can straight away go with Daily Planet though that Polo line may be too tacky and obvious for such a sensitive product. How about the Nokia one? Connecting people? But that also looks like basement bargain stuff. Raymond's For the Complete Man or Old Spice's Mark of a Man are good enough, but somehow don't make the grade. Come to think of it, Nike's Just Do It may just do.

Those behind the Daily Planet are now said to be in a quandary though. They say they want to take the business to other parts too and make the operations (of the company) more formal. What could be that? Perhaps bringing back the work culture in week-ends? Flexible business hours? No working lunch (is it possible for them to do work and have lunch too)? Or have the COO just do that?


Some questions that come to my mind :-

How will the Independent Directors be selected? (Independent Directors normally bring in some industry related expertise)

How will the annual report look like?

What will the management say about the risk factors and the external environment?

7 Comments:

  • And the world never stops surprising me....

    By Blogger Casablanca, at 2:06 PM  

  • Hilarious post. Especially, the careful deconstruction of their...umm, manpower needs. Way to go. You in Chennai? How does on join the Mafia? Does one need to kill someone to prove they've got it in them to? Regards.

    By Blogger Übermaniam, at 3:13 PM  

  • Hi

    the daily planet listing is a very peculiar listing.

    The company is listed as Platinum Planet, (Name changed from the old daily planet)

    The company has listed itslef as a property trust.

    The substance is that the building and property on which the brothel operates is listed not the operation of the brothel or the business of the brothel.

    Fine distintion. The trust earns rental income n not income from "activities in the bed" LoL

    The shares r also trading well below the issue price of 85c now at 16cents

    May be they should list their operations , Sex after all does sell

    Samir, Sydney

    By Anonymous Samir, at 3:35 PM  

  • hmm... I wonder if this would be part of an ethical fund ;-)

    By Blogger J'Adore, at 9:22 PM  

  • 'daily planet' is the newspaper that clark kent(superman's secret identity) works in. wonder what made them pick that name?!

    By Blogger Balaji, at 1:21 AM  

  • More importantly will the company be giving away the "employee awards" at the shareholders' meeting? Based on "merit"? Based on "length of service"?

    :-)

    By Blogger thennavan, at 11:22 AM  

  • @Casablanca,
    very true.

    @Daily Unusual,
    Thanks

    @Samir,
    thanks for the info. didn't know about this part

    @J'adore,
    I don't this will be part of an ethical fund

    @Balaji,
    how does a name matter for this kind of business

    @Thennavan,
    'Star' employees need to be rewarded in public.

    By Blogger Kaps, at 5:29 PM  

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