It was only a matter of time before new Spotless boss Martin Sheppard took out the dirty laundry.
This part of its business was fingered as a major player in the December disaster profit downgrade which lopped the share price in half.
A please explain notice from the ASX was deemed reason enough to issue a market update on Monday. It confirmed there will be no further surprises in its full-year results.
It also reported that, following Sheppard's "strategy reset" announced at its half-year results in February, someone was kicking the tyres on its "laundries business".
"Spotless has commenced a process to assess the potential shareholder value that could be generated by a sale of its laundries business," it said.
All the usual caveats apply to the possible sale, but it is interesting to note that Team Spotless did consider offloading the laundries business in 2014.
This is before PEP offloaded Spotless to the public in an IPO which has proved very lucrative for the privateers.
The hint of a laundry sale, and confirmation of Spotless's earnings guidance, gave the share price a modest boost on Monday.
Not enough for chairman, Margaret Jackson, who is still under water on the stock she bought after the December downgrade.
Sheppard has fared much better with the stock he acquired at record lows in January, which might show us who has got a better nose for the stock.
Dirty Linen
It wasn't just the financial laundry that has been causing Spotless grief, of course. Fairfax Media reported in January on other dirty linen which was causing the company grief.
Fair Work ordered the company to reinstate a whistleblower who had been sacked after appearing on the ABC's 7.30 report exposing the exploitation of cleaners that Spotless had subcontracted to work at Myer.
And workers also complained of Dickensian conditions at its laundry operations, alleging unhygienic practices and bullying. Spotless denied the claims.
Appy Voters
Shareholder democracy has entered a new orbit thanks to pokie billionaire Bruce Mathieson and his latest play, Omni Market Tide.
The company survived the use of its own technology at Omni's first shareholder meeting as a public company on Monday.
In dot com parlance, Omni ate its own dog food by testing its app at what it claims is an Australian first: A virtual annual general meeting.
As if a real one isn't bad enough.
It said the majority of the publicly listed company's 1000 shareholders voted in real time using the company's app OmniLoop on Monday morning without having to traipse to the Como Hotel, Melbourne, for the actual meeting.
Have these people stopped to think where this sort of digital loophole could lead? Imagine if companies are then forced to dump the lavish spreads put on after the AGMs as an informal bribe to investors and means of sustenance for poor gossip columnists?
Mathieson, Omni's largest shareholder, ensured there were no glitches to mar the proceedings. His board rep, Ross Blair-Holt, was re-elected with 99.85 per cent of the vote – as were the other three directors.
Not that it has helped the share price much. Omni has failed to excite investors with its investor app, since a back-door listing at 10¢ a share last year.
The stock price jumped heroically by 19 per cent to a high of 3.9¢ on Monday.
Rare reprieve
While Oliver Curtis sat through one of the last days of his court hearing on insider trading charges on Monday, his dad Nick Curtis might have been distracted by the latest news from rare earths miner he used to run, Lynas Corp.
Its banks agreed to kick its debt woes down the road as woeful rare earth prices continue to weigh on the company.
Lynas said a $US2 million principal repayment due on June 30, and interest accrued from January 2016, will be postponed to the end of December, without additional interest or penalty.
CBD gets the feeling that Lynas is not looking forward to a happy New Year.
Got a tip? ckruger@fairfaxmedia.com.au
