Aristocrat puts its boss up in fine manor

Des Randall, the lushly rewarded little big boss of slot machine maker Aristocrat, must be getting tired of moving. He is facing the prospect of again packing up his kit bag to head for the US to sort out the American mess.

It was only months ago that Randall set up new digs in the Esther Road, Mosman, abode the company bought for a total of $4.1 million last year for the use of ``visiting directors and executives".

Close to Balmoral Beach, the house has a Marrakesh feel and spans two levels with sauna, pool, theatre system and seven metre high entrance hall.

Aristocrat paid Michael Stokes, director of real estate group Chesterton International, $3.85 million for the pad last May.

Randall and his fellow execs might not have a clue what's going on in the US but they swooped on the residence after it had been passed in at auction five months earlier at $3.7 million.

Slick timing saw Randall flog his own four-bedroom home on Northcote Avenue, Killara, on the day after his company settled on the new Mosman asset.

He netted $2.6 million for his shack, having paid $900,000 in 1994.

He has a US base to head for in the form of a house in Nevada, which he bought last year with the benefit of a $2.6 million interest-only loan from his company.

So what do you do?

Aristocrat's PR firm, Edelman, says it plays no role in the group's relations with the sharemarket.

Indeed, its boss, Jill Collins, wants us to be sure her firm gave Aristocrat no assistance in its recent dog's breakfast series of profit warnings.

Aristocrat's chairman, John Ducker, also chairs Edelman, which was paid more than a steep $400,000 by the pokies outfit last year.

We wonder then, if Edelman isn't providing advice on the finer points of communication with the market and more specifically the media amid a crisis, just what is the four hundred grand for?

Spare change

Kerry Packer's new golden boy, Chris Cuffe, may have backed his new boss's Publishing and Broadcasting while at Colonial but he seems to dabble personally in the bottom end of the market.

On the latest notification, Cuffe is listed as a top 20 shareholder of $42 million Melbourne waste management outfit the Baxter Group, whose shares have gone bananas since Christmas.

His less than 1 per cent stake is worth a bit more than $270,000, up considerably since the stock's impressive climb from a range of $1 to $1.10 over most of the second half of last year to yesterday's $1.31.

Cuffe shares the register with such classy investors as Smorgon family vehicle Brooklyn Trading Pty Ltd, former McIntosh Securities boss Bruce Parncutt, and newly renamed Promina's Tyndall.

While birthday boy Cuffe he turned 43 on Tuesday keeps a low profile around town, David Murray might try hunting up a bit of advice from Allan Moss and Nick Moore at Macquarie Bank after radio announcer Alan Jones cranked up his attack on the Commonwealth Bank boss, yesterday calling for his resignation.

Jones, who gave Macquarie the barbed wire pull-through over last year's Sydney airport purchase, reckoned comments by former Colonial boss Peter Smedley that CBA was fully aware of the details of Cuffe's contract showed Murray was either not telling the truth or not competent enough to run the bank.

Cynics will point to the Parrot's close links to Park Street, so no surprise he's flying Cuffe's flag.

Snatching it

Finding it hard to get inspired by this market? You aren't the only one.

One time Thundering Herd Merrill Lynch, which has downsized from 900-odd bods at its peak here to 300-ish these days, has lost three key members of its institutional sales team.

The well regarded Melbourne-based Mark Cubit, his Sydney counterpart Michael Conway, and London-based Campbell Johnstone have all pulled the plug in favour of greener pastures and a life outside the industry.

Conway, we hear, has gone New Age and is heading for Byron Bay where is to set up a fitness venture.

At Macquarie, the equities team is wondering just how life will change under the new head of insto equities following the departure just days ago of executive director Mark Bennett, who spent a large part of last year out of action.

His replacement Roy Laidlaw is said to have been hand picked by investment banking bosscockie Nick Moore and there is a some internal fear the new man is being sent in to encourage a more rigorous work ethic and kiss the lingering lunch goodbye.

Laidlaw will join the money machine from JP Morgan in Hong Kong where he was in a similar slot managing a business turning over $US300 million ($500 million).

He is no stranger to these shores, having married an Australian and spent 10 years on the ground here.

Macquarie's turnstile of farewells continued last night at Darcy's where 14-year bank veteran Brett Spork gathered 40 of his closest bank mates, including Richard Sheppard, to say goodbye as joint head of Macquarie Financial Services.

In the biblical tradition, he'll do it all again next week with a knees up at the Bond Street office.

Sporky oversaw the recent beef-up of the bank's retail distribution, which included buying Porter Western in Perth, Day Cutten in Adelaide and Nevitts in Brisvegas.

Go the Bombers

Nice pre-season form from a group of Sydney bizoids flying the flag for an AFL team other than the Sydney Swans.

Essendon supporter and Transfield Services boss Peter Watson dished the pies and sauce last night at his Kent Street bunker in the hallowed presence of Bombers inspiration Kevin Sheedy and the steel-plated James Hird.

Also of the Bomber faith and in the bleachers to soak up the beer will be Etrade chairman Kerry Roxbrough, venture capitalist John Grant of Hambros-Grantham, and Woolies director Leon L'Huillier.

Donning the black and red strip also will be Hutchison Telecoms' ousted founder Barry Roberts Thomson. He remains a consultant to the phone seller and has managed to lock in a corporate sponsorship of his beloved Dons for the coming season.

The Sydney clique follows a similar coterie the Uptown Dons that has formed on the chilly side of the Murray and includes the likes of Smorgon's Ray Horsborough, MacBanker Simon McKeon, Tabcorp chair Michael Robinson and PWC's Paul Brasher.