Loan pre-approvals by banks can be confusing. They aren't a rubber stamp to buy whatever you want, but some buyers are being a little too cautious.
CEO Institute Leaders' Summit 2012
I had the privilege to participate on an esteemed panel this morning on the topic Finding opportunities in a disrupted market at the Melbourne Cricket Ground, hosted by the CEO Institute.
Too often these sorts of discussions can descend into bland motherhood statements. Fortunately, ably MC'd by Toby Travanner and with the company of BRW's Leo D'Angelo Fisher, Franz Madlener, founder, Villa & Hut, social media expert Trevor Young and Charles Jennings from AGL Ventures, the conversation provided a fresh take on dealing with change, to an audience of nearly 500.
The tone was set by an excoriating, blistering attack on the lack of honesty and conviction by Australia's political leaders from Leo. Franz re-inforced and drove home the point made earlier in the day by NAB economist Alan Oster that traditional retailers should stop blaming the internet for their problems but change their way of working and dealing with customers. Trevor Young warned listeners that companies needed the capability to engage and react to social media conversations fast - in fact, in real time. Charles lamented that large companies will always fail to match small companies in their ability to change culture and obtain the best from their staff.
I warned the audience that now was not the time for speculative property investments in regions such as mining towns that relied on one or two industries. I also warned off a questioner who was thinking of investing in a bedsit apartment.
A fascinating and well-spent morning. Monique