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Hello. I'm Peter Switzer. Kerry will
Series of Eight Investment Partners small
will tell us how he is finding this
small cap companies to invest in in Political
this challenging stock market. once
Political legend Malcolm Mackerras one-time
once tipped Tony Abbott would be a think
one-time Prime Minister but I don't than
think he expected him to be less he
than that so we will find out what Turnbull
he thinks lies ahead for Peter Turnbull and us -- my -- Malcolm Turnbull and us. For those who their
always think they would like to own Justin
their own restaurant, we have the
Justin North who will tell us what Stay
the heat is like in the kitchen. we
Stay with us for the next hour and corporate
we will bring you the latest and
corporate news and market analysis and learn valuable lessons from have
Australian success stories. If you have any questions for me or my guests, email them to follow
switzer@switzer.com.au. You can It
follow me on twitter, @peterswitzer. we
It was only a matter of time before ASX
we would test the 5000 level on the ASX 200, but we didn't drop the big was
time after piercing what we thought expect
was a poor level. What should we Street
expect in coming weeks if Wall Street and China keep speaking JBWere's
players like they have been. what
JBWere's Mike Kendall is telling us evening.
what he expects. Hello.Good by
evening. I'm a bit battle scarred good
by 12.We hope we can fight the drop
good fight around 5000. We didn't surprising
drop pass that which was quite Once
surprising but what do you think? manufacturing
Once we saw the Chinese than
manufacturing index, it was lower for,
than what the market was looking some
for, and it raised nerves among economy
some investors that the Chinese than
economy is slowing a bit faster The
than most analysts are forecasting. what
The next step from that data is global
what are the implications for growth
global profitability, economic seen
growth and for Australia, which is Chinese
seen as a proxy player on the Chinese economy, what are the indications for the Australian more
economic outlook here? We saw some 11:30
more intensified selling around about
11:30 AM and on. The market dropped stayed
about 20 or 30 more points but day
stayed at the lower levels for the data
day as investors digested this poor you
data printout of China.What are at
you guys thinking? Are you looking opportunity
at this as being a buying medium-term
opportunity for people who are like
medium-term investors?It is a bit some
like flogging a dead horse, but in buying
some respects, yes. I am on the chipping
buying side for my clients, just anything
chipping away quietly. I do not see the
anything that will turn the tide in run-up
the next few weeks, maybe in the time
run-up to Christmas. As I have said there
time and time again on this program, policy
there are a lot of accommodative low
policy settings, low interest rates, are
low Aussie dollar, low inflation investment
are good, but we just need business a
investment moving here. We have had have
a change in Canberra which seems to business
have been well received because the government
business community, but the practice
government has to put policies into Australian
practice which will benefit the of
Australian economy. There are a lot we
of good things happening here and global
we can get caught up in these growth.
global machinations about global somewhere
growth. Australia should print next
somewhere between 2-2.5% GDP growth offshore.
next year. There are pressures from not
offshore. A lot of this selling is is
not retail mums and dads saying it Commonwealth
is time to tell Telstra, but
Commonwealth Bank and Woolworths but hedge funds is taking a global market
but that the growth -- the global the
market will have great issues over think
the next 12-18 months.What do you sentiment?
think we need to turn around that with
sentiment? We want China to come up economic
with some surprisingly good Beijing
economic reasons, but what if no
Beijing turned round and said, "OK, putting
no more mister nice guy, we are putting a big stimulus package in." lifted
What would that do?If the US debating
lifted interest rates, and we were kept
debating last week if Janet Yellen with
kept rates on hold lifted, what didn't
with the market reaction be? She US
didn't and the market reaction was growth.
US Fed is nervous about global positive
growth. The Fed moving would be a and
positive stimulus. Jobless claims the
and manufacturing data might show well.
the US economy still performing been
well. The Chinese government have 20,
been on the front foot since the G growth
20, indicating they still see a 7% development
growth print. One of their that
development agencies said today that they still see capacity 2.7% growth for the year off the back of are
the technology sector which they It
are starting to see move forward. central
It wouldn't surprise me if the government
central bank in China and the government moved with a big stimulus package, which could be globally
met with other stimulus packages globally as global central banks you
move to shore up growth up.When companies
you think about it, there are Is
companies like BHP at $22 something. true?
Is this looking too good to be careful
true?You have to be a little bit have
careful with the miners. If you are
have a two or three-year view, they value,
are expensive and offering good ore
value, but we are still seeing iron Hammersley
ore surging. Reinhardt announcing production
Hammersley will start its export of seeing
production next month so we are It
seeing more iron ore on the market. it
It will be interesting to see how A
it absorbs that in terms of price. a
A little bit cautious on that, but If
a lot of the bad news is priced in. right
If you are a patient investor, some
right across the Australian market, trading
some of our best companies are valuations.
trading on very attractive valuations. I am not promising a snapback short-term, but Warren other
Buffett was quoted in the paper the falling
other day saying that we like up
falling markets because you can buy Telecom?
up stocks cheaply.What about TPG Telecom? Did well today with share there?
prices falling. What is going on spots
there?It was one of the few bright 31%
spots but it shone pretty brightly. yesterday
31% profit chop -- profits jump the
yesterday was warmly received by the market.

wild
It is still going to be a pretty take
wild ride from here, but if you is
take a two or three-year view, it markets,
is hard to trade these complex the
markets, but if you are picking up I
the banks with a yield of around 9%, too
I don't think you are going to make richness
too many mistakes.It sounds like Thank
richness to me, 9% in the backs. you
Thank you for joining us. Talk to will
you next week. After the break, we companies.
will go searching for small cap

has
Welcome back. A series of partners how
has won a $55 mandate. Let's see Companies.
how he goes identifying small partners,
Companies. Eight investment investment
partners, are there eight investment partners in eight There
investment partners?There are not. great
There are a couple of us. It is a eight
great name. The story behind it is I
eight is the lucky number in Asia. so
I spent a lot of my career in Asia, with
so we went for luck of the skill selecting
with the name.When you come to skill
selecting small cap companies, Skill
skill is the name of the game. helps.
Skill comes first. Luck always companies.
helps.You specialise in small small
companies. What has happened to years,
small companies over the last three year?
years, and maybe over the last environment.
year?It has been an interesting has
environment. The small ordinaries has not done very much. The index recently.
has performed very badly, until by
recently. But that has been driven energy
by the small resources and small there
energy with in the small cap sector opportunities
there has been some great Largely,
opportunities to make money. health
Largely, within the technology, example.
health care, medical devices for stock
example. There has been a great three
stock because market for the last annum
three years. Our fund is up 17% per which
annum for the last three years, have
which has been a great return.What been
have been the sectors that have The
been the most rewarding for you? technology.
The big one for us has been call
technology. A number of IPOs.We Let's
call it the Malcolm Turnbull sector. Within
Let's hope that continues to help. has
Within the technology sector, there backdoor
has been some interesting IPOs and involved
backdoor IPOs that we have been Healthcare
involved in, and they perform well. they
Healthcare medical devices. But has
they have in other sectors. There that
has even been some resort stocks resource
that we have invested in -- companies
resource stocks were stop how many Is
companies do you have in your fund. have
Is it a bit like a machine gun? You have a shot at a lot and if you diversified
have a few good ones?We have a concentrated
diversified fund, and a fund,
concentrated on. In the diversified are
fund, we have about 70 stocks. We Kelly.
are quite well spread.Machine gun bit
Kelly.And the concentrated is a strategies,
bit more sniper. But both has
strategies, clearly the performance performing
has come from picking some stocks
performing -- good performing stocks in both products were stop companies,
has the dollar helped you in these thing
companies, or not? The interesting they
thing is that our biggest positions, has
they are in fact offshore. There I
has not been a specific dollar play We
I asked. It has turned out that way. markets,
We are looking at focusing on big offshore
markets, they have tended to be years.
offshore in the last two to three market
years.How are you playing this slugged
market now? Is clearly being name
slugged around, especially the big- driving
name companies, and they are you
driving the index down. But how are companies?
you playing at the small cap --
companies? Are you being spooked at opportunity?
-- by all seeing it as an of
opportunity?The interesting aspect small
of this sell-off has been that small caps have performed

good
Than large caps were stop it is a because
good environment for small caps, stories.
because you have specific growth to
stories. Companies that are going execution.
to grow well because of management overall
execution. Lest dependent on the concentrated
overall environment. Our month
concentrated product is up this markets.
month in the face of difficult

Wall
Why wouldn't a company suffer as the
Wall Street falls away?Because of companies.
the specific growth story of these company
companies. A couple of examples, a HR
company called one page, an online more
HR recruitment tool that is a lot more to that, it is disrupting the industry
HR industry which is a massive so
industry in the United States and away
so they are taking market share boards,
away from other companies, job unrelated
boards, for example, that are performances
unrelated to the US economy company
performances but that is how the you
company execute its strategy.When are
you try and select the company what used
are the most important criteria talk
used to identify this is a goer?We of
talk about investing in three types underresearched
of companies. Star companies, and them...
underresearched stocks. Each of edge
them... we look to try and find an the
edge and understand something about market
the company that the rest of the they
market has an understood yet so is.
they come across in different set healthcare
is. We have been in technology and resources.
healthcare but also consume and something
resources. But we are looking to has
something unique that the market growth.
has recognised that will drive potential
growth. That is good growth anon
potential that the market has got taking
anon yet.That implies you are the
taking a punt on your intuition and asked
the calibre of the questions you've contravention
asked of the company in your potential
contravention of what the market with
potential is.Exactly a meeting most
with management is probably the Last
most important part of our process. calls.
Last year over 400 meetings and them
calls. With One-Page we have met couple
them a dozen times over the last to
couple of months. It is important strategy.
to get at an understanding of their big
strategy.One-Page One-Page, how door
big is it?Over $6 million. It back market
door to in October last year with a been
market cap of $20 million and has CEO
been a phenomenal performer. The is
CEO is Joanna Reilly and she... she from?
is an amazing CEO.When a ship company
from?She is American and the States.
company is based in the United in
States.It is a US company listed higher
in Australia?Correct and has a than
higher valuation coming to the ASX capital
than it would have got from venture States
capital investment in the United here
States and that is why they came because
here and I am glad they came here set
because the performance has been data
set -- and to stick and they have a and
data base of 1.2 billion profiles and analyses your social media map relationships
and works out the strength of your recommendation
relationships and then makes a who
recommendation to HR departments on As
who to higher in different roles. primarily
As a succeeding here or is it United
primarily just shooting up in the States.
United States?Primarily in the officer
States. The chief technology with
officer is based here so we meet of
with him from time to time but most of the focus has been the United a
States. Hammers on as a client with is
a huge turnover. -- Is a Mac.What with
is the cost for somebody to invest one
with you guys?We have two products, minimum
one is a retail fund and the couple
minimum investment there is a Charitable!
couple of thousand dollars. other
Charitable!Easy to invest. The it
other is a wholesale products are $100,000
it requires a minimum investment of status.
$100,000 and sophisticated investor the
status.What about resale, what is fee
the cost? -- Retail.A management performance
fee is 1% and then there is a performance fee of 20% above the outperform
performance benchmarks if we reasonable
outperform we get paid well.Sounds need
reasonable to me. Thank you.We you
need more investment partners if that
you know any!I know a couple. So Investment
that is the spokesperson from Eight speculate
Investment Partners. Coming up, we Canberra.
speculate on Malcolm Turnbull and

two
Said the number of years would be my
two years.I just wanted a plug for underline
my website and I wanted to Are
underline how brilliant you are. Turnbull
Are you surprised that Malcolm No.
Turnbull has been so well received? the
No. I expected it. He was always effect
the obvious prime minister. The as
effect of the last election as far they
as coalition was concerned was that a
they were led into the election by minister.
a man who was not the obvious prime was
minister.Why was that?Well, it everybody
was just obvious to almost more
everybody that Malcolm Turnbull is Abbott
more prime ministerial than Tony well
Abbott and Tony Abbott was not very huge
well regarded and the effect was a get
huge number of Australians voted to the
get Labour out but when it came to were
the Senate vote only 37% of people votes
were willing to give their Senate votes of the coalition which was are
the reason for the troubles they likely...
are now having.So what is the happen
likely... what do you think will next
happen to the coalition over the election?
next 12 months to the next the
election?I think Turnbull will win September
the next election which will be in September or October or November then
next year but I am also predict Why
then he will win the one after that. say
Why are you so confident?All I can political
say is that I know Australian Australian
political history and if you take the
Australian political history from capital
the setting up of Canberra as the capital in 1927 it has always been governments
the case that conservative three
governments when they get billowing a
three elections. In 1931 there was followed
a three term coalition government or
followed by Robert Menzies in 1949 winning
or so and then Malcolm Fraser after
winning three. John Howard won four three
after winning in 1996 so those government
three previous Conservative I
government can win three elections Turnbull's
I can't see any reason why Malcolm are
Turnbull's government won't.What arguments
are the arguments -- one of the the
arguments I put forward for one of for
the reasons Turnbull will be good for the coalition, I figured that on
the ABC and Fairfax will be fairer Abbott.
on Malcolm Turnbull than Tony that
Abbott. The continual headlines government
that are negative against the work
government in Canberra, does that popularity
work pretty heavily against their business
popularity also their consumer and business confidence?

the
I am not sure, as other people are, case,
the media companies, ABC in this people
case, have the influence that is
people prescribed to them. But ABC Turnbull
is better disposed towards Malcolm Abbott.
Turnbull that it was towards Tony it
Abbott. That might be a help. But it is better. We have seen that for Malcolm,
the last several years, actually. in
Malcolm, you have been favourable you
in your views on the coalition, but issue,
you have sent me a note about the eight
issue, I don't know if it is a typo, what
eight rain Fat on reform. Is that because...
what you wrote?I wrote that comments,
because... There were some stupid making
comments, I heard him three times Helme
making stupid comments. David line said,
Helme described his comments and That
said, " he has had a brain Fat. " were
That is why I used that word. They thought
were the words of somebody else.I powers
thought it was beneath your general agree
powers of description. Why do you he
agree that he has done that?What heard,
he said in the three interviews I the
heard, he conveyed to the audience years
the conventional wisdom of two rumba,
years ago. Two years ago, you may aftermath
rumba, we were in the media people
aftermath of the election, and people were saying that the things much
he said. He does not realise so bridge,
much water has passed under the was
bridge, in the past two years. He acted
was asked why the government hadn't

Labour
Every journalist knows why. The Since
Labour Party pulled out of it. crossbenchers,
Since the Labour Party and the crossbenchers, it is dead.

reality,
Instead of understanding the the
reality, and putting his nose to to
the grindstone and working out what to do, which is what he should do. antagonised
He made stupid comments, which Malcolm,
antagonised the crossbenchers. and
Malcolm, everyone apart from you and every other intelligent historian on politics in the bunch
country, seems to think that a bunch of nincompoops got elected at the last election, into the Senate. And they think it happened process.
of the nature of the Senate voting talked
process. That is what was being the
talked about, he wants to change don't
the voting process. Nincompoops nincompoops
don't get in.Well, the so-called voted
nincompoops got in because people voted for them. We have a portion earlier,
of representation. And I said for
earlier, only 37% of people voted Abbott
for the coalition led by Tony had
Abbott in this election. 37% really But
had confidence in his government. in
But because they had no confidence Abbott.
in Labor, they did worse than Abbott. Because of the great predicted
dislike of the Greens, they all
predicted all three. They went for was
all these other people. The result elected.
was that these other people were peculiar
elected. Rickie Muir was the only peculiar case. He was elected in a that
peculiar way. But you can't say because
that the Senate is unrepresented elected
because one senator out of 76 is fact
elected in this peculiar way. The that
fact is, GH numbers of people at the
that election simply couldn't abide couldn't
the coalition, couldn't abide Labor, voted
couldn't abide the Greens, so they can
voted for these other people, you can call them nincompoops if typical
like. I would say that they are typical of ordinary Australians. Lambie,
Someone like Len Lazarus, or Jackie Lambie, who is a more Australian woman then Jackie world
Lambie?There is no way in the world I will call Jackie Lambie nincompoop, because they are scary people. Thanks for joining us on Macckerras,
the show.That is OK.Malka as
Macckerras, he is very informative, question
as you can see. When there are one
question marks over the country, is
one of the best people to talk to business.
is anyone running a recruitment business. Richard Earl joins me at there.
the desk. I am glad Malcolm was International,
there. Tell me this, Talent of
International, what is the history me
of the company?It was founded by from
me 20 years ago in Perth, a loan from a mother and a bit of loose Why
change down the back of the couch. Why are you named Talent it
International?We were first to use with
it and it has been come synonymous have
with the recruitment sector. We turnover
have grown to a $358 million offices
turnover company, we have 15 Zealand,
offices around Australia, New one
Zealand, Asia and the UK. We are technology
one of the biggest providers of govern
technology professionals.You also our
govern it as well.Technology is our game. We specialise in professionals,
technology and digital, digital it
professionals, and there is a fair to
it of transformation there.I want have
to talk about talent Rise, but you happening
have a feeling for what is seeing
happening in the economy. I am better,
seeing economic indicators getting you
better, rather than worse. What are position?
you seeing from the labour market technology
position?We focus on the as
technology sector. That is buoyant, mining
as far as we are concerned. The sector...
mining sector and oil and gas contract
sector...It was doing so well.Our levels.
contract numbers are at record The
levels. And there is a lot going on. transformation
The technology sector and digital the
transformation projects, many of heavily.
the big corporate is are investing perspective,
heavily. From the technology sector where
perspective, it looks healthy from in
where I see it.And you have been a
in business for 20 years. You have the
a rough idea if you felt as though recession?
the economy was heading towards of
recession? I know I described some some
of the senators as nincompoops, but recession
some economists are using the People
recession word. Are you surprised? People will always use that word. A couple of states are things
having trouble. Western Australia, things are slow in South heading
Overall, I don't think we are important
heading for recession.The last important reading I saw last week came from New South Wales. It it
the NAB look at business conditions, jump.
it went from nine to 22, a huge seems
jump. It is the biggest economy. It about
seems surprising to me. Tell us foundation.
about talent rise.It is our

foundation
It makes sense to focus our unemployment.
foundation on assisting youth in
unemployment. Youth and employment It
in Australia is unacceptably high. average,
It is 2-3 times the national areas.
average, even higher in indigenous particularly
areas. So we are taking kids, and putting
particularly disadvantaged kids, putting them through technology How
courses in Sydney and Melbourne.. go
How many young people have you had go through the foundation so far.

We
go through the foundation so far.

approach
To provide opportunities?We very
approach our clients, a lot are very supportive of what we are guys
doing, and trying to give these us
guys a second chance in work.Tell us about the challenges for a We
company like yours at the moment. If
We are in the recruitment sector. sector
If you look at the recruitment $150
sector in Australia, it is worth outdated.
$150 billion. The model is already advertising,
outdated.It is outdated?They sell interesting
advertising, they are doing doing
interesting things, but what we are If
doing is looking at some innovation. sector,
If you are not innovating in the sector, there are troubling times Obviously,
ahead. That is what we are doing. to
Obviously, it is important for you name
to get the right talent, given the something
name of your company. But is there know
something wrong with employers? I know you are not

clients
Your clients, you may say your there
clients operate employers, but is employers?
there something wrong with that
employers? A lot of them complain Sometimes
that it is hard to find good people. their
Sometimes clients can be lateral in it
their job requirements. Sometimes rather
it is good to hire on attitude, rather than someone that ticks all the boxes on the job spec.Jim right
Collins once said about getting the working
right people on the bus, and think,
working out what seat. Who do you visionary
think, internationally, has been a recruitment?
visionary when it comes to lacking
recruitment?At the moment, it is over
lacking visionaries. I was recently with
over in California, I was working we
with a software vendor from there, platform,
we are developing a software anyone
platform, and they are not aware of is
anyone doing anything. The industry people
is sadly lacking visionaries and innovate.
people that are prepared to at
innovate. It is guilty of staring will
at its boots and hoping the problem will go away. It has to innovate. your
It is a tremendous opportunity.In presume
your industry, being technology, I wages
presume hourly rates and gross is
wages are not really a problem, or contractors
is it?No, it is pretty good. What holistic
contractors are missing is a more could
holistic offering. You haven't ever workforce,
could increasing contingent more
workforce, whether corporate hire trying
more contractors. What we are holistic
trying to provide is a more in
holistic offering. Providing things and
in personal development, lifestyle an
and well-being. We are introducing that
an industry first loyalty program mean?
that offers that.What does that a
mean?Temporary workers miss out on permanent
a lot of the perks of being a look
permanent member of staff. If you technology
look at banks, a third of the temporarily.
technology workforce are personal
temporarily. They miss out on personal development things. We are that
trying to plug the gap and provide that offering with a new digital temporary
platform.You are also providing much
temporary contractors as well?Very jump
much so.Do you need employers to implications
jump on board, considering the or
implications or using contractors, organisation
or is it something that your the
organisation itself provide?Since has
the GFC, and in technology, there employing
has been a movement towards balance
employing temporary workers. The balance has gone from 10% to 30% of particularly
the technology workforce, corporate's.
particularly among larger to
corporate's. That is tipped to grow that
to 50%. There is a need to plug people
that gap and look after these you
people and show some love.Thank you for joining us. Coming up after is
the break, let's understand what it always
is like to do what many people own
always think they want them to do, chef
own their own restaurant. Celebrity chef Justin North up next.

north
Welcome back to this was so. Just best
north is regarded as one of the in
best chefs in the country. -- Just what
in north. Let's try and understand while
what it is like to build a business kitchen.
while coping with the heat of the the
kitchen. How long have you been in kitchen?
the restaurant game? Running a have
kitchen?Probably about 15 years. I opened
have been cooking for 25 years. We when
opened our first restaurant in 2001 lot
when I was 26 and it has changed a industry
lot but it is a very rewarding be
industry to be in but it can also worked
be incredibly brutal.Have you ever Ramsay?
worked with the likes of Gordon Ramsay?A little bit and I used to it.
be a bit like myself, I hate to say You
it.Were you an aggressive Kiwi? need
You are wearing black tonight.I another
need to prepare to celebrate the
another World Cup win. I trained in aggressive
the UK and it was very hardcore and trained
aggressive and I guess when you are what
trained in that environment that is these
what you take forward the view that have
these days you just cannot, you leader
have the lead as an inspirational Journalism
leader and you have to be emphatic. You
Journalism used to be like that. this
You used to just yell at people but is
this yelling caper for generation Y they
is not going to work.Yes, because they just walk out the door and it young
is difficult to get a passionate people
young staff these days.Do young become
people want to work in kitchens and It
become chefs? It is a tough life. glamorous
It is. They can appear to be and
glamorous because of the TV shows shiny
and book signings and the lovely lucky
shiny side of it...customers were if
lucky if they like your food.But hard
if you strip or the way it can be a working
hard industry, getting up early and day
working on hard concrete floor all problems
day and having knee and back whether
problems with a lot of abuse industry,
whether alcohol and drugs in the unsocial.
industry, working very late, burnouts.
unsocial. Burning yourself, and and
burnouts. You can burn out young got
and it is tough and you have really But
got to provide a wonderful culture. chefs
But is it rewarding to you that important
chefs are becoming socially really for
important people? You always were television
for the cook inside of but now, people
television and newspapers and around
people love. Television shows all being
around cooking.It has changed from kitchen
being a servant on the underground forefront
kitchen to coming out to the more
forefront of customers. Nothing market
more rewarding than going to the beautiful
market in the morning eyeing spent
beautiful ingredients and then cooking
spent the day in the kitchen you
cooking and have someone come up to vicious.
you is that it was beautiful and sense
vicious. It is rewarding in that contribute
sense and it is nice to be noted to positive
contribute to somebody's they in a positive way.You are gutsy because business.
you were young to start your was
business. In Albion Street.That kid
was two dozen in one.You were a when
kid then! -- 2001.I left school and
when I was 15 and I started early in
and I was fortunate enough to train around
in some incredible restaurants wanted
around the world and I really listening
wanted to... I was sick of practise
listening to people and wanted to what
practise and have the freedom to do how
what I wanted to do and expressed was
how I wanted to express it. That on
was incredibly successful earlier is
on and you build upon that and it be...
is scary.How hard is it to both the
be... people are great working in did
the business as a chef is that you while.
did grow and you got it there for a while. Wasn't scary to do both at Alan.
the same time?Yes, you live on and ready
Alan. Even getting preparation itself
ready for 100 people, that in hard
itself causes you to work fast and pressure
hard but then you add all the pressure from the business and it very
is a huge amount to manage. It is a industry
very different in history that industry these days. -- It has a Normally
very different industry these days. these
Normally the partnerships you see and
these days are much more successful lot
and play to people's strength.A partners
lot of rivals have taken business Definitely.
partners on. Did you do that? is
Definitely. With Centennial there to
is a partnership that it allows me a
to cook dinner and focused on being and
a chef and a leader in the kitchen experts.
and living the business side up to lesson
experts. That is one of the biggest is
lesson I've learnt over the years challenge
is to play to people's strength and their
challenge them and take them beyond really
their comfort zone but you have detail
really got to focus on every little to
detail and to do that you have got time.
to play to your strength the whole Restaurants
time.A competitive environment now. time
Restaurants are opening up all the multiple
time and chefs are taking up tougher
multiple outlets as well. Is it customers
tougher or is it better because like
customers are already for people and
like you?People love eating out particularly
and the price point now, you
particularly across this country, for
you can eat well and you can eat makes
for a smaller amount of money which business
makes it competitive and your upon
business model is a lot more relied The
upon having a higher foot traffic. to
The motto at Centennial enables us for
to have variation as well as space for functions and multifaceted the
business helps you need to analyse being
the business every day and keep competition
being dynamic and keep ahead of the looking
competition and keep out there research
looking at what they are doing and and
research trips overseas and reading whole
and you need to be on the pulse the GFC
whole time to keep up.During the were
GFC you must have felt the economy you
were watching the pennies. How are improving?
you finding the economy now? Things shift
improving?Absolutely. There was a the
shift in the economy and also in traditional
the restaurant industry away from casualisation
traditional fine dining into the still
casualisation of restaurants we quality
still have great ingredients and lot
quality staff that you are paying a but...
lot less of it squeezes the margins offset
but...is the volume increasing to where
offset that?It needs to. That is don't
where businesses fail would you door.
don't get the volume through the higher.
door. You are relying upon a much out
higher.Consumers still want to go they
out but they were doing lunches and and
they went doing entrees and desert are
and you would have felt that but more
are we seeing a shift and becoming more greedy at eating time now?We great.
are going out a lot more and it's TV
great. The show is busy across the people
TV channels that are encouraging out
people to cook at home but also go and
out and experience the restaurants the
and get out there and because of do
the value, it encourages people to there
do it more often so the market is restaurants
there that there is a lot of about
restaurants fighting for that.What good
about these cooking shows. Is that It
good for the restaurant businesses? was
It is. When they first came out I sceptical.
was asked to do a lot but I was take
sceptical. I thought, this would and
take people away from restaurants it
and have them cooking at home that phone
it had the opposite effect. The show
phone goes crazy the next day after takes
show when you appear on it.Cooking It's
takes a lot of time and effort. a
It's easier just to hand it over to you're
a place like yours. Congratulations, I
you're a restaurant is terrificand That
I wish you the best. Thank you. Centennial
That was just the north from show
Centennial Centennial. That is the website
show for tonight. Check out my are
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