Policy implications of the transfer of ownership of Scotia Sanctuary for the National Reserve System in Australia

The recent purchase of Scotia Sanctuary, in western New South Wales, by the Australian Wildlife Conservancy (AWC), with significant funding from the Commonwealth government raises questions about the National Reserve System in Australia. The property had been placed on the market by the financially strapped Earth Sanctuaries Ltd (ESL). The Commonwealth's involvement represents an important landmark in private land conservation. This commentary investigates some of the possible policy implications this intervention may have for the National Reserve System as a whole and, in particular, about the role of private land within this System.

The employee share ownership plan: what value has it for Australia?

The Australian government is currently committed to the goal of increasing organisational participation in employee share ownership plans (ESOP) from 4% of all companies to 11% by 2009. The Nelson Report into ESOPs commissioned by the Honourable Brendan Nelson highlighted the lack of comprehensive information on the nature and extent of ESO plans in Australia. ” (Nelson 2000). This paper places the program in context by reviewing overseas experiences and considers the viewpoints of both employers and employees. The preliminary investigation concludes by highlighting the need for further thorough research before success for all types of businesses can be confidently predicted. ”

Managerial share ownership and discretionary accruals in Australia : do independent and executive directors have different incentives?

We examine the relation between managerial share ownership (MSO) and discretionary accruals in Australia. We find a positive relation between MSO and discretionary accruals up to a certain level of MSO followed by a negative relation (inverse U-shaped). We suggest that these unique results are a result of certain Australian institutional features that are markedly different to those in the US and the UK and imply that the ownership-discretionary accruals relation is context specific with the wider corporate governance systems influencing the theorised incentive effects. We also posit that executive directors and independent directors have different ownership-discretionary accruals incentives and report results consistent with this proposition.

Factors influencing awareness of community-based shorebird conservation projects in Australia

We examine the awareness of potential volunteers (n = 360) living near nine community-based shorebird conservation projects. About half of the people sampled (54%) were unaware of the nearest project. Awareness of interviewees varied substantially among projects (28-78%). Apart from gaining awareness of projects through membership of natural history groups (43%), many respondents heard of projects through friends and relatives (20%), rather than through media such as newspapers (14%) and television (2.3%). We demonstrate that community-based projects can be quantitatively and critically assessed for awareness. The use of rapid, cost-effective assessments of awareness levels has application in many conservation projects.

Framing the discourses of harm and loss: a case study of power relations, mobile phones, and children in Australia

The current penetration of mobile phones in Australia is 92% and it records one of the world’s highest rates of ownership among children under 18. The paper reviews the literature on mobile phones and Australian children and examines the various discourses dominating the public debates; the systematic frames used in these discourses; and whose interests are served in the process. The frames discussed fall under the optimistic (gains); pessimistic (losses, costs or harms); pluralistic (technology per se is neutral but how it is used matters); historical development (skills learnt and the importance of using mobiles); futuristic predictions (promises and dangers for the future); current uses (connectivity, convergence and interactivity); and the techno-realist view (as a mixed blessing) views of technology. Taking the critical perspective and borrowing from Joshua Meyrowitz, the paper illustrates how mobile phones have eroded parental power over how, when, where and with whom their children communicate, surpassing adult supervision, intervention or knowledge, while at the same time, becoming a ‘digital leash’ for parents to re-establish their control an d an ‘umbilical cord’ for their off spring to remain connect! ed with parents, at all times.

Wellbeing of Australians : mortgage payments and home ownership

The Australian Unity Wellbeing Index monitors the subjective wellbeing of the Australian population. Our first survey was conducted in April 2001 and this report concerns the 16th survey, undertaken in October 2006. Our previous survey had been conducted five months earlier in May 2006. This intervening period was relatively uneventful in terms of events likely to change population wellbeing. In March 2006, the new Industrial Relations legislation came into force. Each survey involves a telephone interview with a new sample of 2,000 Australians, selected to represent the national population geographic distribution. These surveys comprise the Personal Wellbeing Index, which measures people’s satisfaction with their own lives, and the National Wellbeing Index, which measures how satisfied people are with life in Australia. Other items include a standard set of demographic questions and other survey-specific questions. The specific topics for Survey 16 are home location and travel time, and expenditure on mortgage or rent.

Changing journalism for the likely present

Media convergence and newsroom integration have become industry buzzwords as the ideas spread through newsrooms around the world. In November 2007 Fairfax Media in Australia introduced the newsroom of the future model, as its flagship newspapers moved into a purpose-built newsroom in Sydney. News Ltd, the country’s next biggest media group, is also embracing multi-media forms of reporting. What are the implications of this development for journalism? This paper examines changes in the practice of journalism in Australia and around the world. It attempts to answer the question: How does the practice of journalism need to change to prepare not for the future, but for the likely present.

Early in November 2007 The Sydney Morning Herald, the Australian Financial Review and the Sun-Herald moved into a new building dubbed the ‘newsroom of the future’ at One Darling Island Road in Sydney’s Darling Harbour precinct. Phil McLean, at the time Fairfax Media’s group executive editor and the man in charge of the move, said three quarters of the entire process involved getting people to ‘think differently’ – that is, to modify their mindset so they could work with multi-media.

The new newsroom symbolised the culmination of a series of major changes at Fairfax. In August 2006 the traditional newspaper company, John Fairfax Ltd, changed its name to Fairfax Media to reflect its multi-platform future. In March 2007 Fairfax launched Australia’s first online-only daily publication in Queensland, brisbanetimes.com.au. In May 2007 Fairfax completed its merger with Rural Press to become the biggest media company in Australasia, with annual revenues of about $2.5 billion and market capitalisation of about $7 billion. Two months later Fairfax got even bigger when it acquired at least one radio station in all Australian capital cities plus television studios when it bought Southern Cross Broadcasting. Fairfax is expected to bid for one of the two digital television licences made available by the changes to media ownership laws promulgated in May 2007.

The aim in moving Fairfax from a print to a multi-platform company was to reach as large an audience as possible. ‘We have a total readership in print of over 4 million per day and online of over 5 million per month’, CEO David Kirk said at the time of the Rural Press merger. ‘Our brand of quality, independent, balanced journalism will serve and support more communities than ever’ (Kirk 2007). A few months earlier chairman Ron Walker had written in the company’s annual report: ‘Fairfax is evolving into a truly digital media company’ (2006: 2). Within five years Fairfax would be a significantly bigger Internet company that distributed its content ‘over more media’, Kirk wrote in the same report (2006: 5).

Kirk developed a three-pronged strategy. The first part of the strategy involved the need to ‘defend and grow our newspaper publishing businesses’ – that is, to consolidate and develop the existing newspapers, whose circulations were holding steady during the week and improving on Saturdays. The second part involved plans to ‘accelerate the revenue and earnings of our digital business’. The third part was ‘to build a digital media company for the twenty-first century’ (Fairfax annual report 2006: 3). In June 2007 Kirk appointed Tim Mannes project leader for the Fairfax Media-Rural Press integration. ‘The purpose of the integration work is to bring the two companies together and build what is truly Australasia’s leading media company’, Mannes wrote in a memo to all staff on 7 June 2007. ‘It’s vital throughout this process that we maintain continuity and momentum and protect the interests and needs of our customers’ (2007: 1).

The business model appears attractive. Kirk said Fairfax’s increased scale and diversity would mean it relied less on classified lineage advertising in major metropolitan newspapers, so it could ‘rapidly develop the best online response to changing media advertising patterns’. In the two years to 2006, online’s contribution to Fairfax’s profits had grown from 1 per cent to 14 per cent with ‘much more to come’. Online’s share of the national advertising pie had grown from 2 per cent in 2002 to 10 per cent in 2006 (Beverley 2007: 6) and had jumped to 14 per cent in 2007. Analysts said they were happy with Fairfax’s move ‘from a newspaper company to a media company’ and banks such as Credit Suisse upgraded their profits forecast (AFR 19 September 2007: 37).

Planning for the move to One Darling Island Road in Sydney’s Darling Harbour started early in 2006. Fairfax CEO David Kirk took personal responsibility. He and chairman Ron Walker visited integrated sites around the world, along with a group of editorial bosses. The favoured site was The Daily Telegraph in London, which embraced convergence from June 2006. CEO Murdoch McLennan hired a consultant from Ifra, Dr Dietmar Schantin, director of the Newsplex, to facilitate the move from mono-media to multi-media at The Telegraph. Schantin said change was less about new technologies and more about altering the established mindset. The focus must be on the audience: ‘The whole idea of audience orientation seems to be quite new for some newspapers. In the past it was more “we know what is good for our readers and so we distribute the content”.’ Newspapers were a service industry whose service was information and news, he said. Newspapers had to learn to ‘serve’ its audience with the things the audience wanted to know, on any appropriate platform. ‘We start from the audience. What they want is a very important point. That does not mean that a newspaper should just do what the audience wants. The newspaper [also] needs to stick
to its core values’ (Luft 2006, Coleman 2007: 5).

Tom Curley, CEO of the world’s biggest newsgathering organisation, Associated Press, gave an important speech to the annual Knight-Bagehot dinner in New York in November 2007. The news industry had come to a fork in the road and needed to take bold steps to secure the audiences and funding to support journalism’s essential role for both the economy and democracy, he said. Otherwise the media industry would find itself ‘on an ugly path to obscurity’. He similarly emphasised the need to serve the audience: ‘Our focus must be on becoming the very best at filling people’s 24-hour news needs. That’s a huge shift from the we-know-best, gatekeeper thinking. Sourcing, fact gathering, researching, storytelling, editing [and] packaging aren’t going away’
(Curley 2007).

Kirk appointed a ‘newsroom of the future’ committee from editorial (reporters and photographers), IT and HR. The committee initiated a study tour by editorial executives of leading integrated and converged newsrooms in the UK and the US in April 2007. This became known as the ‘Tier 1’ course and involved the editor and deputy editor of The Age, and the news editor of The Sydney Morning Herald. The Herald’s editor went to the annual conference of the World Association of Newspapers in Cape Town, South Africa in June 2007 because that event featured convergence as one of its main themes (PANPA Bulletin June 2007: 6). The committee designed a two-day awareness course for senior editorial managers, known as ‘Tier 2’, that was run in Sydney in July 2007. The ‘Tier 3’ program for all editorial staff started in August 2007 and this ‘multi-media awareness program’ continued until the end of the year. A ‘Tier 4’ course for about 10 per cent of editorial staff (about 40 journalists), where they learned a range of multi-media skills, was scheduled to start after the Beijing Olympics in 2008. The author facilitated most of the Tier 2 and 3 courses.

The Tier 3 and 4 courses have profound implications for journalism education in Australia because they represent the start of major changes to how journalists work in Australia. The process reflects evolution in newsroom practices around the world. In November 2006 Ifra, the international media research company, asked newspaper executives worldwide about their priorities for 2007. The survey attracted 240 responses from 43 countries and results appeared in January 2007. Integration, editorial convergence and cross-media strategies attracted the most attention. Four in five executives rated it one of their top priorities, and half made it their main priority in terms of allocating ‘significant’ funds (Ifra 2007: 34). Ifra repeated the survey in November 2007 and published the results in January 2008. Expanding web strategies was first on the list for 2008, just ahead of editorial convergence strategies, which topped the list in 2007. Improving video and audio content jumped 14 places, and mobile phone strategies leapt 9 places between 2007 and 2008 to be near the top of the list (Ifra 2008: 8).

Costs of raising equity capital by renounceable rights issues in Australia

Rights issues remain a common method for raising equity capital in Australia for companies listed on me Australian Stock Exchange. This study investigates the capital raising costs of Anstralian renounceable equity rights issues from 2001 to 2006. Both direct and indirect costs are investigated and the explanatory power of potential influencing factors is analyzed. The total direct costs averaged nearly 4% of gross proceeds raised and the mean offer price was discounted around 17% from the current market price. Issue size, percentage underwritten, concentration of ownership and issuer risk significantly influence the percentage direct costs of the rights issue. The age of the issuer, the average historical volume of shares traded and the offer price appear to influence the percentage discount.

Preventing childhood obesity : the sentinel site for obesity prevention in Victoria, Australia

In spite of greater awareness of the need for action to reduce obesity, the evidence on sustainable community approaches to prevent childhood and adolescent obesity is surprisingly sparse. This paper describes the design and methodological components of the Sentinel Site for Obesity Prevention, a demonstration site in the Barwon-South West region of Victoria, Australia, that aims to build the programs, skills and evidence necessary to attenuate and eventually reverse the obesity epidemic in children and adolescents.

The Sentinel Site for Obesity Prevention is based on a partnership between the region's university (Deakin University) and its health, education and local government agencies. The three basic foundations of the Sentinel Site are: multi-strategy, multi-setting interventions; building community capacity; and undertaking program evaluations and population monitoring. Three intervention projects have been supported that cover different age groups (preschool: 2–5 years, primary school: 5–12 years, secondary school: 13–17 years), but that have many characteristics in common including: community participation and ownership of the project; an intervention duration of at least 3 years; and full evaluations with impact (behaviours) and outcome measures (anthropometry) compared with regionally representative comparison populations.

We recommend the Sentinel Site approach to others for successfully building evidence for childhood obesity prevention and stimulating action on reducing the epidemic.

The employee share ownership plan : data and implications for Australian businesses

The Australian government is currently committed to the goal of increasing organisational participation in employee share ownership plans (ESOP) from 4% of all companies to 11% by 2009. The Nelson Report into ESOPs commissioned by the Honourable Brendan Nelson highlighted the lack of comprehensive information on the nature and extent of ESO plans in Australia. This paper places the program in context by reviewing overseas experiences and considers the viewpoints of both employers and employees. The preliminary investigation concludes by highlighting the need for further thorough research before success for all types of businesses can be confidently predicted.

Straight to the source : an exploratory study of Australia's regional newspaper journalists' checks on validity and accuracy of sources

This paper reports on an exploratory study that examined whether journalists
undertake the vital role of checking the validity and accuracy of information
supplied to them in media releases. It also monitored how much information
journalists used from press releases in their published work. The study followed Gandy's information subsidy theory by surveying 10 local government media relations officers who regularly issued media releases via
electronic mail or facsimile to a sample of 14 rural/regional newspapers. The data analysed found that rural/regional journalists were not adequately verifying information supplied in media releases and using a significant amount of this information verbatim.

The case for reverse mortgages in Australia : applying the USA experience

In the USA, reverse mortgages have been promoted as a means of accessing equity locked up in a residence, especially after the owner/s has retired. Although there have been some teething problems, the concept of mortgaging the family home after achieving freehold ownership has many merits. Often an asset-rich household must survive on relatively small regular income, and is unable to access the increasing wealth of the family home. A reverse mortgage overcomes this hurdle.

The largest asset for many ageing households is their primary place of residence, the traditional house and suburban land parcel. Recently, the Australian housing market has witnessed substantial growth in the value of its capital city housing, especially on the east coast of Australia. This can be attributed to factors such as owner-occupiers trading up to a better class of dwelling, and the continuing gentrification process for owners choosing not to relocate. At the same time, demographic changes have placed pressure on the regular income of retirees, many of whom have no superannuation fund. For example, life expectancy rates continue to rise and there are an increasing proportion of single person households in society. This has placed additional pressure on financial resources of retirees, especially those with a substantial investment in their family home and a relatively small pension.

This paper visits the reverse mortgage scenario in the USA and considers potential implications for the Australian market. Strengths and weaknesses of this product are contemplated, and the viability of reverse mortgages is discussed. Although there are obvious benefits for certain segments of society, reverse mortgages are a unique product and caution should be exercised to ensure the public is fully knowledgeable from the outset.