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Jobactive fails jobless while privatised job agencies revel in a record pandemic profit boom

Large job agencies who dominate Australia’s privatised employment system are enjoying a boom of record profits, and even a takeover spree, while their disillusioned job seekers complain of churning and profiteering. Meanwhile, those in government on both sides of the political aisle are calling for reform. In this special investigation, Stephanie Tran reports on the failure of Jobactive.

Star Track/Australia Post

Bizarrely, the government actually owns a company on the Secret Rich List as Australia Post acquired the “grandfathered” company Star Track. Star Track has an exemption from financial reporting.

Rosemount Estate

Rosemount Estate was founded by the late Bob Oatley in 1974. The winery has moved from one prominent owner to another while being underpinned by the grandfathered exemption. Treasury Wine Estates, Australia’s largest wine producer, is the current owner of this dark company.

Bill & Imelda Roche

Bill and Imelda Roche turned a small investment in American cosmetics business Nutrimedics into billion dollar property empire, Roche Group. They are linked to three Dark Companies which enjoy “grandfathering” exemptions. 

Ralph Sarich

Ralph Sarich rose to fame in the 1970s as the inventor of the Orbital Engine and Orbital Combustion Process. After selling his stake in Orbital, Sarich ploughed his profits into property development and investment, establishing Cape Bouvard Investments, a Dark Company

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