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Private Banking and Wealth Management Survey 2012

November 2008

Australia: Out of pocket in the outback

by Eric Ellis


The Dish, Parkes: the town authority is sitting tight and hoping for a return to stellar performances

Until now, the most famous thing the small Australian wheatbelt community of Parkes could boast was a massive radio telescope on the outskirts of town known locally, with typical Australian reduction, as ‘The dish’.

Nationally recognizable, the dish was the one thing that connected Parkes and, by extension, Australia, to the world and beyond. Moonshots have been traced and tracked from Parkes. Visiting US citizens – astronauts and their counterparts from Nasa – would periodically add foreign dash to Parkes’s determinedly middle-Australia ethos.

Now another dashing US presence has given Parkes a foreign prominence it would rather not have. It is called Lehman Brothers, and its September failure has given Parkes’s city fathers a A$14 million ($9.2 million) headache – and an international prominence they could do without....


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