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The Rise and Fall of Alan Bond
Book by Barry, Paul
Paperback
First published January 1, 1990
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Displaying 1 - 7 of 7 reviews
January 26, 2018
IN 1978 BOND WAS NAMED AUSTRALIAN OF THE YEAR.
Bond started as a painter.
He moved into Property Development.
The US banks were the biggest lenders to Bond. In the credit squeeze of 74 they didn't think they could call in the loans as Bond was trying to win an Americas Cup and was larger than life, so if they wanted to do business in Australia they couldn't call in the loans.
The WA Govt helped Bond stay afloat by purchasing realestate from him that was largely unsaleable.
The 1977 Americas cup challenge was part funded by the WA Govt and rest from Bond himself.
Bond bought 38% of Santos secretly. SA Govt forced him to sell down to 15% as didn't believe he was fit to control such a large portion of the states energy supply. Shares went up 3x in interim and he made $60m.
He used to juggle assets around a lot between his private and public companies, so instos weren't keen buying into the business.
He didn't often drink, didn't smoke and never gambled.
Previous to 1983 the US hadn't lost the cup (132 years). Australia II was down 3-1 in the series.
The thing that stopped Bond was that he never knew when to stop. He started believing his own bullshit.
Bond bought Tooheys went it had 60% market share. 4 years later it was 40% due to Power. This damaged Bond's cashflow and image.
From 82-88 Bond paid tax at the rate of 3%. Borrowings were made in Australia to offset brewery profits and profits were diverted to the Channel Islands.
Bond started as a painter.
He moved into Property Development.
The US banks were the biggest lenders to Bond. In the credit squeeze of 74 they didn't think they could call in the loans as Bond was trying to win an Americas Cup and was larger than life, so if they wanted to do business in Australia they couldn't call in the loans.
The WA Govt helped Bond stay afloat by purchasing realestate from him that was largely unsaleable.
The 1977 Americas cup challenge was part funded by the WA Govt and rest from Bond himself.
Bond bought 38% of Santos secretly. SA Govt forced him to sell down to 15% as didn't believe he was fit to control such a large portion of the states energy supply. Shares went up 3x in interim and he made $60m.
He used to juggle assets around a lot between his private and public companies, so instos weren't keen buying into the business.
He didn't often drink, didn't smoke and never gambled.
Previous to 1983 the US hadn't lost the cup (132 years). Australia II was down 3-1 in the series.
The thing that stopped Bond was that he never knew when to stop. He started believing his own bullshit.
Bond bought Tooheys went it had 60% market share. 4 years later it was 40% due to Power. This damaged Bond's cashflow and image.
From 82-88 Bond paid tax at the rate of 3%. Borrowings were made in Australia to offset brewery profits and profits were diverted to the Channel Islands.
February 25, 2013
A throroughly researched book filled with mind numbing detail. Those with a head for big business would easily navigate through the complexity presented in these pages but I struggled. Written in a blended register of formal and informal language, it was mostly interesting, and truly astounding in places. I felt incredulous. Amazed at what Bond got away with for so long. Dumbfounded by the rapacious greed. The corruption in which not just private oprators like Bond, and any number of banks and finance companies, but also government, were up to their necks.
This book paints Alan Bond in a very poor light. I wonder if he ever read it and how angry he must have been. He comes across as a completely unsympathetic character who was at one stage a genuine Australian hero. Shame on us for worshipping those who worhsip money.
Overall, the book was too long and detailed for my liking but I commend the author Paul Barry for the depth of his work, and recommend it to those who are interested in anti-heroes, or in tales of coporate insanity from the 1980s.
This book paints Alan Bond in a very poor light. I wonder if he ever read it and how angry he must have been. He comes across as a completely unsympathetic character who was at one stage a genuine Australian hero. Shame on us for worshipping those who worhsip money.
Overall, the book was too long and detailed for my liking but I commend the author Paul Barry for the depth of his work, and recommend it to those who are interested in anti-heroes, or in tales of coporate insanity from the 1980s.
May 27, 2020
A cautionary tale that chronicles the triumph of BS and hot air, which the billionaire hustlers seem to have in abundance, over any real value or accomplishment. Bond did indeed rise to lofty heights in terms of money and power, but was apparently a failure when it came to his personal relationships.
He did win the America's cup for Australia, an accomplishment which lights up an otherwise dreary record.
He did win the America's cup for Australia, an accomplishment which lights up an otherwise dreary record.
August 27, 2017
Financial wizardry and fraudulent practices... and I shouldn't forget to mention the scamming he does. Interesting to read how it was possible he could grow it in a billion dollar business. But then again... he had Arthur Andersen as his auditor (think of Enron scandal).
Book became most interesting in the final 100 pages or so...
Book became most interesting in the final 100 pages or so...
March 11, 2018
This book was hard work and in the end I gave up. The more the story progressed the less empathy I had for Mr Bond and anything he did or achieved and the more I felt my time could be better spent.
February 7, 2012
Alan Bond held his court during the 1980s, when Western Australian politics was all about business. Paul Barry's biography is quite breathtaking, and to me a very confronting read due to the image it portrays of business in the fast lane. The book left me fascinated but angry. Angry at the innocent people (investors in Bell Resources, publicans who had leases with Tooheys, for example) who lost their money and in some cases had their lives destroyed due to Alan Bond's outrageous contempt for business ethics. The best (or at least most enjoyable) part of the book deals with Bond's fight with Tiny Rowlands, but I won't say more to avoid spoiling it for others!
July 14, 2008
Really interesting insight into a time in Australian history that I never really was aware of.
Displaying 1 - 7 of 7 reviews