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Gareth Hutchens

๐Ÿ‘ค Speaker
131 total appearances

Appearances Over Time

Podcast Appearances

ABC Business Daily
Economists cut through the budget noise

There's this massive spike in the middle of the day.

ABC Business Daily
Economists cut through the budget noise

We have too much, so much so that in the middle of the day, a lot of coal-fired power stations are paying when they send electricity into the grid.

ABC Business Daily
Economists cut through the budget noise

They're paying a penalty because there's so much juice around.

ABC Business Daily
Economists cut through the budget noise

What batteries are doing is moving that excess, smoothing out the picture so that we have a more stable grid.

ABC Business Daily
Economists cut through the budget noise

And as we're getting this time,

ABC Business Daily
Economists cut through the budget noise

at cheaper prices in most of Australia.

ABC Business Daily
Economists cut through the budget noise

To wrap up, something fascinating from this week has been the exit of Mexican food chain Guzman and Gomez from the US.

ABC Business Daily
Economists cut through the budget noise

You've got to admire an Australian chain taking on the US, such a massive market in fast food, the chutzpah of launching a Mexican chain.

ABC Business Daily
Economists cut through the budget noise

Like I admire it.

ABC Business Daily
Economists cut through the budget noise

Maybe it was never going to work.

ABC Business Daily
Economists cut through the budget noise

Investors are delighted that they've stopped.

ABC Business Daily
Economists cut through the budget noise

But it doesn't appear to have stemmed the bleeding of losses of money that they're spending over there, Gareth.

ABC Business Daily
Economists cut through the budget noise

They had about 300 staff in eight locations around Chicago.

ABC Business Daily
Economists cut through the budget noise

They tried really hard.

ABC Business Daily
Economists cut through the budget noise

In fact, the co-founder was there for the last three months trying to make it work.

ABC Business Daily
Economists cut through the budget noise

Is there a flip side in the fact that the American chain Taco Bell, which sells Mexican food, has had three goes at Australia, is currently in its third iteration, and the best it's got out to at the moment is 20 stores having already โ€“ in fact, it was going to be the third and done, but someone rescued it right at the end โ€“

ABC Business Daily
Economists cut through the budget noise

Is it just really hard to break a new market?

ABC Business Daily
Economists cut through the budget noise

Starbucks famously got out to about 120 stores in Australia, retreated to about 15 largely in airports or in extremely high tourist traffic areas like Sydney's Pitt Street and Circular Quay and that kind of thing.

ABC Business Daily
Economists cut through the budget noise

They have in recent years expanded out because they've worked out Australia.

ABC Business Daily
Economists cut through the budget noise

Now you'll find Starbucks in the outer suburbs largely as drive-through locations.