2 November 2016

Yesterday’s Melbourne Cup is often known as the race that stops the nation (Australia that is). I am not sure if it stops all the nation but I know by seeing who is out and about, you know which sectors are rolling in the cash. (and probably ripping you off)

Years ago the day was about bankers and accountants. Busy out on the company card with their key clients, making sure that marketing allowance was well utilised.

During the Queensland boom years of the late naughties the engineering and construction companies were rolling in cash.  Driven by tight deadlines and high demand, numerous drought and mining projects saw the sector awash in cash. The corporate credit cards were out and the beer was flowing.

Yesterday, only as a social experience, I visited several venues. The bankers, accountant, engineers and constructors were back at work. The ones that were out appeared and disappeared once the race was won.

They had been replaced by IT consultancies. With geeks and programmers out on the town, not much code was written yesterday.   The corporate cards were out and being used as freely as the bubbles were flowing. And I am sure, as with previous years going straight onto your project.

So while Almandin may have won the cup, the IT Sector won the party, showing us where the profits are and which sector is booming.