Harry Triguboff denies being seen in the vicinity of suspicious vacant warehouse fire in Melbourne CBD

Meriton CEO Harry Triguboff has shrugged off allegations he was seen leaving a vacant warehouse that caught fire in Southbank this afternoon.

Triguboff has denied any responsibility and claims he was doing stocktake at the time of the fire.

“Mr Triguboff categorically denies being seen in the vicinity of the warehouse as he was having coffee with an old friend, Mark Leibler, discussing stocktake and how the Voice to Parliament will impact any further development proposals,” a spokesman for Meriton said.

“Harry was also doing stocktake at the time a Sydney warehouse went up in smoke last month.”

In other news, the City of Melbourne has fast tracked approval for Meriton to build a 50-storey apartment tower on the site of the old warehouse as soon as the site is ready.

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stagmal

wtf are they building these new apartments out of for them to constantly be cracking and burning down

how do we have the most expensive and red tape intensive building costs on urth but also the shittest build quality

Last edited 11 months ago by stagmal
bjw678

because the red tape and build quality are both beneficial to big real estate…

Peachy

Hey bjw, you’re not dead, yippee!

Freddy

The only genuine red tape is the one being used to hold the cracks together. The perceived bureaucracy is just that, perception. Like the corrupt building certifiers rubber stamping dodgy builds.

Regarding quality vs price. As soon as one builder gains a competitive price advantage by skimping on build quality, all the other builders realise there are profits to be maximised and do the same. We have had a natural evolution towards lower build quality. But it is ultimately fool’s gold because when they all do it we are back to similar profit margins. The rigged supply/demand ensures prices remain the high via higher land values.

The same can be applied to every other industry in EZFKA as well. As soon as one company starts exploiting workers their competitors will do the same.

The90kwbeast

Race to the bottom

It’s hilarious that literal shelter can be built to such poor standards

ACCC asleep at the wheel as usual

A fly in your ointment

remeber the time when anything from Sovet Union and alike countries was obvious half-truth coloured with ideology, political refugees fled whilst other side was a beacon if freedom and free speech?

things started flipping upside down with one Snowden, Edward. Same undemocratic country now does not even have talk about enemy propaganda or controlling what is published and how.
in the mean time, in the free world this.
observe the video and how the message is delivered with a straight face

the arborist

100% we are now the equivalent of commie russia et al. When all layers of government, corporate and the greater leftist proletariat are in lockstep on almost every issue, and Snowden, Assange etc are hunted, you know free thought and speech are in great danger. God bless Peachy for this haven from the madness.

I wonder if we dissidents will ever be sent to the gulags.

No1

It was bullshit back then too

The only thing there was was that the elites of the West were willing to grant decent living standards to fight communism

When they realised communism wasn’t going to take over, it became unnecessary to give concessions

robert2013

Pretty much.

Last edited 11 months ago by robert2013
Drago

I’m so torn over this guy.

On one hand, big up to duh mun. Day trader fucks ATO and others in the ass making $9b over 3 yrs and paying $300k tax.

But on the other hand, every… single…time…

https://michaelwest.com.au/pomi-pty-limited/

https://www.afr.com/companies/financial-services/openmarkets-hit-with-4-5m-fine-ex-trading-head-banned-20230706-p5dm4r

Gruppenführer Mark

Can’t get the AFR article 🙁

The Pomi dude, $9.2B is listed as income, not profit. It is a bit wild that the profit is only $1.3M from $9.2B in revenue, less tax of 0.4M makes it a $300K/year income over 3 years, after tax. Not bad, but can you imagine the amount of stress to get to that coin? Every single day….

bjw678

. It is a bit wild that the profit is only $1.3M from $9.2B in revenue

A lot of the global corporations manage 0 profit on much higher incomes than that…

Peachy

I’m guessing that this guy must have some sort of kickback deal with the broker, because his margin is less than 0.015%.

That is less than the commission you pay on aus market trades. Maybe you can get somewhere near that with wholesale/Insto pricing, but it’d be close. So 50% of any value generated is paid in transaction costs (assuming everything goes well). That is too too thin a margin for error.

so the real business must be something else. Probably:

  • generating churn
  • possibly profiting from this churn off to the side (in another entity)