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Online jfc

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« 2018-Dec-16, 06:42 PM Reply #275 »
Maybe these genii are headed for GoFundMe.


Presently, the arts institution is a beautiful sinkhole.

Most recent accounts show MONA recorded a bottom line loss of $23 million on $32 million in revenue.

The year before that MONA, which trades as Moorilla Estate Pty Ltd, lost more than $18 million on revenue of $29 million.

Walsh declined to comment to Margin Call on its soon to be lodged 2018 numbers, but we hear the losses haven’t stopped.

Records show Walsh has — via his Downward Spiral Enterprises (TAS) Pty Ltd — loaned MONA $132 million. The loan is interest free and has no scheduled repayments.

https://www.theaustralian.com.au/business/margin-call/margin-call-david-walshs-mona-is-a-beautiful-sinkhole/news-story/873274ad92ab82e39ef469e2dd6b1f28


Offline Bubbasmith

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« 2018-Dec-17, 07:57 AM Reply #276 »
Jfc, where do you place Walsh,not Z, on the totem pole of punting to which , your goodself and Rodent are clinging and do you think successful punters of today are in reality ,not punters ,but simply good computer programmers with the ability to predict the winner or determine in the long run what horses or combination of horses’ are over the odds?
« Last Edit: 2018-Dec-17, 05:48 PM by Bubbasmith »

Online jfc

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« 2018-Dec-17, 11:23 AM Reply #277 »
Wish I hadn't clicked on this provocative post, but the only way I'll move past it is to respond.

Walsh might have had great maths skills in obscure areas but you don't need to know about Mandlebrots or the Kolmogorov-Smirnov to be a formidable maths punter. His computer skills appear ordinary at best.

There's no way he could have made it without Zeljko.

Zeljko is unbelievably lucky to have been born at the right time in the right place where the rich morons running Wrest Point Casino were too dumb to ban him at the start (llke nearly all other bosses would). He's very, very, very good at Blackjack and he also has an uncanny knack on convincing others to do the maths and form and programming for him.

He could have easily found someone at least as useful as Walsh for his punting exploits. Minus the baggage.


 

Offline JWesleyHarding

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« 2018-Dec-17, 04:09 PM Reply #278 »
The last sentence seems like a retrospective job application

Online jfc

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« 2018-Dec-17, 05:12 PM Reply #279 »
Wow! There's an idea!

Perhaps I should first delete all my unflattering posts about the perps as hopefully they haven't seen them yet?

Offline JWesleyHarding

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« 2018-Dec-17, 05:21 PM Reply #280 »
I did say "retrospective".

My guess is Jfc was knocked back for the job in the day and has loaded up here on those who didn't have the wisdom to see what they were missing.

Online jfc

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« 2018-Dec-17, 06:03 PM Reply #281 »
"Retrospective job application" makes no sense whatsoever.

And your guess is very dumb.

Online jfc

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« 2019-Jan-09, 09:06 AM Reply #282 »
Apropos Bubba's earlier question-

From RWW

"Interestingly, I was a guest at a small lunch with several of the world’s most successful punters. I posed a question: there are said to be 2,000,000 Australians who have had a betting account with a corporate, how many earn a living (say $100k) punting. The answer ranged from 10 to 50 – a small percentage. Good on Len."

http://ausrace.com/pipermail/racing_ausrace.com/2018-November/000465.html

Offline PoisonPen7

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« 2019-Jan-11, 03:37 AM Reply #283 »
Maybe these genii are headed for GoFundMe.


Presently, the arts institution is a beautiful sinkhole.

Most recent accounts show MONA recorded a bottom line loss of $23 million on $32 million in revenue.

The year before that MONA, which trades as Moorilla Estate Pty Ltd, lost more than $18 million on revenue of $29 million.

Walsh declined to comment to Margin Call on its soon to be lodged 2018 numbers, but we hear the losses haven’t stopped.

Records show Walsh has — via his Downward Spiral Enterprises (TAS) Pty Ltd — loaned MONA $132 million. The loan is interest free and has no scheduled repayments.

In fairness to Walsh, can someone tell me how much profit all the various museums and art galleries around Australia make per year?

I'd venture to say the answer is zero.

Museums and art galleries are a "public service". The Tasmanian or Federal Governments should take over MONA. It is after all a popular tourist attraction and the media report has not subtracted the intangible benefits that MONA brings to Tassie.

Offline wily ole dog

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« 2019-Jan-11, 07:04 AM Reply #284 »
I did say "retrospective".

My guess is Jfc was knocked back for the job in the day and has loaded up here on those who didn't have the wisdom to see what they were missing.

You're not suggesting jfc is Peter Mair are you

Sorry, jfc, couldn't resist  8-)

Offline Bubbasmith

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« 2019-Feb-11, 08:25 AM Reply #285 »
ART mogul DAVID WALSH says he let David Jones take over his famous MONA gallery to see where “showing off” and consumerism collide.

“To be honest, I don’t know a lot about fashion,” Walsh, who owns Hobart’s Museum of Old and New Art, told Confidential.

“I know a lot about human biology  :chin: :chin: and I know one of the things that we tend to do is to establish status by showing off.

“Mona was built on that principle. David Jones, on the other hand, was built on a commercial principle,” Walsh said. “Where they cross over is the humans that inhabit them. I’m very interested in seeing how that crossover works.”

David Jones launched its “Art Of Living” AW19 season at MONA over two days last week, which included a wellness event featuring actor TERESA PALMER, and a fashion parade starring JESSICA GOMES    emthup   , VICTORIA LEE  :shy:, GEMMA WARD :shy: and CAMERON ROBBIE. :shy: brother of Margot ?????

“I worry that when people come here, they’re uncomfortable, and I do everything I can to democratise the art,” Walsh said. “David Jones, I guess, is a store for everyone. But this felt like (the event) had a bit of privilege inside it.

“That worried me, but I also found it interesting. I found it pleasurable.”

Walsh said preparations are also well under way for MONA’s cutting edge winter festival, Dark Mofo, in June.
« Last Edit: 2019-Feb-11, 08:33 AM by Bubbasmith »

Online jfc

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« 2019-Mar-30, 06:01 AM Reply #286 »
Just watched the insufferable Virginia Trioli interviewing Kloaca Kurator Kirsha Kaechele about her latest humanitarian enterprise.

Very hard to stomach at any time of day.

https://www.broadsheet.com.au/national/food-and-drink/article/turn-australias-invasive-species-surreal-gory-dinner-monas-new-cookbook

Online jfc

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« 2019-Apr-21, 01:04 PM Reply #287 »
$50,000 to spend a night with Walsh?

I would demand a cloacaload more!

https://www.examiner.com.au/story/6006832/50000-to-dine-with-david-walsh/


Offline Bubbasmith

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« 2019-May-19, 03:31 PM Reply #288 »
Bill Shorten's $50m MONA gamble to 'back in the future of Tasmanian tourism', but will it pay off?
Millionaire gambler David Walsh has argued that the ALP's proposed $50 million election pledge to help fund public areas of his private Museum of Old and New Art (MONA) was a winning bet.
Bill Shorten says the MONA millions will "back in the investment made by private investors"
The money is for public facilities including a convention centre, theatre, library and playgrounds at MONA
The tourism industry welcomes the pledge as a "welcome shift in sentiment"
Opposition Leader Bill Shorten made the announcement, as part of a $120 million Tasmanian tourism funding promise, if Labor is elected on May 18.

The MONA money is to be spent on public components of proposed MONA developments, including a convention centre, theatre, library and playgrounds.

Mr Walsh opened MONA in 2011 and it attracts thousands of tourists to Tasmania every year, as well as running the Dark Mofo festival in winter, which was traditionally a dead season for tourism.

Mr Shorten said MONA was world-leading and the flagship of Tasmania's tourism industry.

"We want to back in the future of Tasmanian tourism, we want to back in the investment which has been made by private investors in MONA," he said.

"Paris may have the Louvre, you've got the Guggenheim and other great international exhibits but it's Australia, not just Tasmania that has the MONA.

"It's not only leading in Australia, it's leading throughout the world, and it's fun."

Amid criticism the money could have been spent on housing or health, Mr Walsh said it was not up to him to choose where the funds went.

In an exclusive interview with the ABC, Mr Walsh said the investment would pay off.

"As a gambler if you want to place a bet on something, you might as well place a bet on something that's already winning," he said.

"The $50 million doesn't line my pockets because it just disappears into the cultural asset.




Offline arthur

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« 2019-May-19, 04:44 PM Reply #289 »
What's $50M . . ?

Wouldn't even fund a decent election campaign

Online jfc

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« 2019-May-25, 10:44 AM Reply #290 »
Make of this what you will.

I'm not sure our correspondent is totally on the money.


Offline Bubbasmith

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« 2019-May-25, 02:52 PM Reply #291 »
Apparently following the Coalition's win at the federal election, David Walsh has been left like a shag on the rock now that the ALP's proposed $50 million election pledge to help fund public areas of his private Museum of Old and New Art (MONA) is dead in the water.

Offline Bubbasmith

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« 2019-Jun-10, 10:35 AM Reply #292 »
WALSH ADDS $70M TO MONA

ECCENTRIC millionaire gambler DAVID WALSH has ploughed $70 million of his own cash into his cuttingedge art gallery MONA over the past three years.

MONA is operating its seventh Dark Mofo winter festival this week.

The financial report of Moorilla Estate Pty Ltd lodged with the corporate cop showed losses of $28.5 million for the financial year ending in June 2018. This includes the sex-and-death themed Museum of Old and New Art, which was designed by Melbourne’s Fender Katsalidis Architects.

This adds to the $23 million lost in 2017 and the $18.6 million in 2016.

The venue is bankrolled by Walsh, who made a fortune gambling on horse races. :shy: :shy:

The annual report says visitation at the art museum on the Berriedale Peninsula in Hobart was up 3 per cent to 393,027. In the 2018 financial year the company had revenue of $36 million and paid $24 million to employees.

An independent report by consultants Deloitte showed MONA contributed $134.5 million to the Tasmanian economy in 2017-18.


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