One of the joys of being a business reporter in this state for the better part of 25 years is that the background to a story is often more obvious to me than others with less time in the field.
Of course, relying on memory only gets you so far – and depends very much on any individual’s ability to recall both broad facts and minute detail. In my view, success at any job, not just journalism, is aided significantly by having a good memory.
But many of us, due to genetics or the ravages of time, don’t have the kind of sharp recall that we need or the kind of storage required for all the information we have process through our daily lives. That is where the internet comes in handy, especially when coupled with mobile devices to make access more timely.
However, online information sources may be vast and , at times, overwhelming but they are not ubiquitous. A small and isolated market like Western Australia has much less information on key people and organisations than some other places.
That’s where BNiQ comes into its own.
As a helpful guide I will try to highlight some things about BNiQ by explaining what we do and following the occasional article in Business News as a device to do so.
Even before I’d seen the great image (above) which used for the paper, or this great video of the system in action, I was drawn to this story by some detail about the people involved.
For instance the lead is about Ken Johnsen taking the helm – nice nautical words there, I love that kind of stuff. As his profile shows he has a track record with innovative companies, including Advanced Braking Technology and, before that, Orbital Corporation.
Both these businesses feature on our Public Companies - Industrials list where have 163 listings. Advanced Braking Technology is ranked 85th in terms of revenue while orbital is 65th. We also put 700 listed companies into a regularly updated total shareholder return list where you’ll find this pair ranked 550th and 287th respectively on their one-year TSR to June 30.
Back to the story at hand, even more intriguingly to my mind, is the role of Chris Heyring an inventor who has a significant track record in commercialising suspension systems in motor vehicles through the company he founded and sold, Kinetic. He sold that for the then significant sum of $51 million in 1999.
Kinetic ought not be confused with at least two other significant businesses that we have in BNiQ bearing a derivation of that name. We have placed it in the fledgling former companies list which is in its formative stages.