FEAR & GREED | Business News Reece CEO’s brutal honesty; first home help fast-tracked; optimism key to career success
Aug 25, 2025
The CEO of Reece delivers a stark reality check on the company's profit decline, prompting urgent calls for reform. The Australian government is fast-tracking support for first home buyers, stirring economic debates. Workplace surveillance comes under fire as a compliance training company faces scrutiny for invading employee privacy. Meanwhile, optimism emerges as a powerful driver of career success, alongside a surge in plug-in hybrid vehicles and a shift in tourist preferences towards sustainability in Nordic countries.
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Reece CEO's Candid Investor Call
- Reece CEO Peter Wilson gave a raw, 40-minute investor call describing frustration, helplessness and even paranoia about the company's outlook.
- He blamed productivity issues from remote work and a struggling US expansion for the 24% profit drop.
US Expansion Became A Price War
- Reece's US acquisition Morsco has been a growth drag due to high mortgage rates and fierce competition.
- CEO Peter Wilson described the US unit as a price taker fighting cheaper rivals and uncertain prospects.
Market Mixed Despite Rate-Cut Hopes
- The S&P/ASX 200 ended little changed as Fed rate-cut hopes met weak corporate earnings.
- Materials and energy rose but banks weighed on the market despite a brief intraday record.