Express Print & Mail top clicked story in print
The biggest story in the ANZ print industry this week was the Print21 exclusive report on the dealings at Sunshine Coast print business Express Print & Mail, which have caused uproar in the Queensland print industry.
Print21 revealed the owner had sold the business to his mum for $90,000 in cash – enough to cover the liquidator's costs, plus the staff holiday pay and sick leave – before closing the company with $4.15m in debts and no assets, while she took the staff, equipment, brand, and customers into a new premises and started trading in competition with printers that are actually paying their taxes, power bills, and super.
The second biggest story of the week was the Print21 breaking news on Monday that the under-fire CEO of Australia Post Christine Holgate had resigned 10 days after the prime minister blew up over the gift of $20,000 worth of watches to senior execs. Although she was no friend to the print and mail industries, many are left scratching their heads over the PM's response, given there are much bigger actual scandals going on.
Coming in at number three on the story list for the week was the Print21 report on the latest efforts by the Reserve Bank of Australia to stimulate the local economy by lowering the official interest rate to virtually nothing, pumping $4bn a week into the economy for the next six months by buying government bonds and by saying low interest rates were here to stay for the medium term – at least the next three years.