Friend,

Optus isn’t just defending a triple 000 failure that led to deaths and then showing us an unforgivably crappy third crisis response. It's also now fighting The Daily Telegraph's poll on whether or not the CEO should keep his job.

I want to say upfront, its horrifying that Optus has cost people's lives.

They won't be forgiven for that anytime soon.

I can't fix that but I can offer one lesson for you and your Board that the media and government won't.

It's this: if you screw up your crisis response - including leadership and communication - the media are now prepared to campaign against you, poll the community and then report the results to spill CEO and Board jobs.

This is regardless of the law, any proven wrongdoing, or natural justice.

The DT's own poll on the CEO’s job is now the headline.

This isn't fair, and it's certainly not reporting.

It's also not in the interests of informing the public.

That reframes company governance as a popularity contest. If you don’t counter fast and effectively (Optus did not) with evidence and the right cadence, the poll becomes the story. (Daily Telegraph)

Add to this the fact that Optus is being judged by new ACMA rules not yet live and there's another message...

You’re being judged by tomorrow’s standards today.

On our radar

Policy and regulatory developments that may shape your risk or return

ASIC cracks down on private credit risk

ASIC has warned private credit is a systemic risk for SMSFs, slamming the $200 billion sector for poor governance, risky property exposure and "inconceivable” impairment claims. The damning report follows stop orders on La Trobe and RELI Capital, with multiple enforcement probes under way. La Trobe has now agreed to tighten its TMDs, and the stop orders are expected to be lifted.

Optus triple-0 failure triggers $10 million fines

Optus is under fire after a triple-0 outage blocked over 600 emergency calls and was linked to multiple deaths. Canberra warns of significant consequences, with fines set to exceed $10 million. A second failure in two years puts leadership on notice and signals tougher regulatory heat for the entire sector.

ASIC Chair Joe Longo stepping down; leadership transition coming
Joe Longo will finish out his term (May 2026), but has signalled he will not seek another. Meanwhile, APRA Deputy Chair Margaret Cole also to leave around same timeframe.

This week's market movers

Big plays, bold bets, and (occasional) unconfirmed speculation

• RBA strong, but risks ahead - Australia’s economy is resilient with room for more rate cuts, though global risks especially China, pose key uncertainties. 
• Treasury flags $60 billion energy export fall - Treasury warns Australia’s fossil fuel windfall is evaporating fast, coal and gas exports set to halve by 2030, wiping $60 billion.  
• QIC’s $1.5 billion retail fund expansion - Queensland Investment Corporation is raising $1.5 billion to expand its “Everyday Retail Fund,” aiming to triple the portfolio over the next three years.

Best,

Carden | she/her (here’s why that matters @work) 

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