Guest MrRant Report post Posted May 2, 2003 MELBOURNE (Reuters) - Australian stock market investors plunged enthusiastically into the world's oldest profession on Thursday when the country's largest brothel, the Daily Planet, began selling shares. The Daily Planet, which hired Hollywood Madam Heidi Fleiss to spice up its stock listing and touts itself as a recession-proof, five-star hotel, raised A$3.75 million after selling 7.5 million shares in the property arm of its business. The stock soared to 75 cents in the first minutes of trade -- a hefty 50 percent premium on its 50 cent float price in an otherwise depressed equity market, and then settled back at around 70 cents. "Obviously the price is going to go up. It's sex and everyone knows sex is a smart investment," Fleiss told reporters just before the shares started trading. The Daily Planet, based in a Melbourne suburb, has a bar lounge and 18 themed rooms with names like Venus and Xanadu. Some of the rooms have beds and heavily chlorinated spas large enough for several guests at a time. The company lured investors with the prospect of a steady 8.4 percent dividend, including Australian tax credits. The listing marked the company's second attempt to enter the stock exchange. It aborted its first try in 1994 in the face of Victoria state legislation that subjected all investors in sex industry businesses to police checks. To get the float off the ground this time, the company decided to incorporate the property side of the business separately from the brothel operation, so that investors would not be subject to the Prostitution Control Act. The bulk of the listed company -- 26 million in non-tradeable shares -- is held mainly by the brothel's original owner, Chairman John Trimble, giving it a total stock market capitalization of around A$23.5 million ($14.5 million). The Daily Planet turned to notorious Madam Heidi Fleiss to help it market the float, naming her its international ambassador. Fleiss came out of jail in 1998 after serving 21 months of a three-year term for money laundering and tax evasion convictions stemming from her prostitute ring for Hollywood's rich and famous. It would be fun to purchase a few shares. Share this post Link to post Share on other sites
Guest kkktookmybabyaway Report post Posted May 2, 2003 They're right about it being recession proof... Share this post Link to post Share on other sites
Guest Agent of Oblivion Report post Posted May 2, 2003 What a brilliant idea. Aside from maybe the health concerns, I see no reason why prostitution is illegal here. I mean, why should it be illegal to pay for something that's legal to do for free? Share this post Link to post Share on other sites
Guest DrTom Report post Posted May 2, 2003 I mean, why should it be illegal to pay for something that's legal to do for free? Agreed wholeheartedly. The health issue certainly has to be dealt with, but I think Nevada has an adequate system in place to take care of that. Of course, the National Department of Prostitution would not be an agency many would desire to work for, I feel. As Carlin said." Selling is legal. Fucking is legal. Why is selling fucking illegal!?" Share this post Link to post Share on other sites
Guest NoCalMike Report post Posted May 3, 2003 The health issue is obviously made much worse by keeping prostitution illegal. If prostitution was regulated, then it would be a lot more safe and healthy. There would still be the problems such as underground brothels trying to lure teenage runaway girls, but that is already a problem that would exists with or without laws that are in place. Share this post Link to post Share on other sites
Guest RepoMan Report post Posted May 3, 2003 The Daily Planet, based in a Melbourne suburb, has a bar lounge and 18 themed rooms with names like Venus and Xanadu. They made a theme room out of a campy Oliva Newton John bomb? Share this post Link to post Share on other sites
Guest Agent of Oblivion Report post Posted May 4, 2003 Agreed wholeheartedly. The health issue certainly has to be dealt with, but I think Nevada has an adequate system in place to take care of that. Of course, the National Department of Prostitution would not be an agency many would desire to work for, I feel. I'd work for the Dept. of Pimps and Hos in a heartbeat. As a matter of fact, it would renew my waning patriotic spirit. For the health issue, all we need to do is pay the local dog catchers more money to drive by and dart the exceptionally greasy skanks with a nice cocktail of Penicillin, Cephalexin, various vitamins, and a mild sedative. We've got the drivers, and we've got the dart guns..why not? Share this post Link to post Share on other sites
