Happy Tuesday Flux fam!

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Here's everything you need to know today - in under 3 minutes.‍

Today's big stories:

💉 Fully-vaxxed Aussies could win $4.1 million in prizes

🛋 Nick Scali is about to double in size

💸 Celebs get caught up in Pandora Papers scandal

Oh and get this...

We know about the Great Depression...but have ya heard of the Great Resignation? It's happening right now, folks. New data shows 2 in 5 Aussies are getting ready to leave their current roles. While we've been stuck inside, many of us have been reassessing our professional lives and priorities...and changes are afoot.

Fully-vaxxed Aussies could win prizes worth $4.1 million thanks to a group of philanthropists

Background: The concept of a vax lottery - aka a lottery to incentivise more people to get the COVID vaccination - started in the US earlier this year. The US state of Ohio held lotteries offering US$1 million to those who had at least their first dose of the vaccine.  

What happened: In comes the Million Dollar Vax Alliance - an alliance made up of a group of philanthropists and corporations that are hoping to push the national vaccination rate above 80% by the end of the year.

What else: This crew launched a promotion for those who get both jabs before mid-December...and it ain't small. We're talkin' a total prize pool of $4.1 million. Aussies aged 18 and over are eligible - including those who are already fully vaccinated.

So what's the key learning?

💡Strategic philanthropy is a unique way to combine a company's marketing goals with an intention to increase the well-being of mankind.

💡It means businesses can be helpful to the community...but still benefit themselves.

💡The Million Dollar Vax campaign's goal is to save lives and reduce the burden on healthcare workers...but also to benefit the wider community, including businesses who've been forced to shut down (TY locky-d).

Nick Scali will nearly double in size after acquiring comfy couch GOAT Plush

Background: Nick Scali started way back in 1962, and sells all things furniture (think lounges, dining tables, coffee tables, lamps etc). And while for some industries, COVID has been an absolute curse (i.e. travel), for others...it's been a blessing.

What happened: It turns out the home furniture space has been booming. Every single person realised how disgusting their couch was after lying on it for the past 18 months...or just decided to spruce up their home office.

What else: Nick Scali's laughing all the way to the bank. Their profit doubled to over $84 million in the last 12 months, and now they've acquired soft retailer Plush-Think for $103 million in an accretive acquisition.

So what's the key learning?

💡An accretive acquisition is when a company - like Nick Scali - acquires another company - like Plush - and the deal increases the company's earnings per share (aka, the company's earnings divided by the number of outstanding shares).

💡These type of accretive acquisitions are usually pretty good for a company's share price. All of a sudden, Nick Scali's earnings go from around $84 million...to over $110 million.

💡With no new shares being created, there are now more earnings per each outstanding share. So it makes sense that investors love these kinds of acquisitions. In fact, Nick Scali's share price increased by more than 10% on the news.

Panama Papers who? Celebs, world leaders and billionaires caught in naughty offshore tax deal

Background: Oh, you thought the Panama Papers were bad? Hold on to ya seats, Flux fam. The International Consortium of Investigative Journalists (ICIJ) have done nearly 2 years of hardcore research...and found out some juicy S.

What happened: The ICIJ got a hold of nearly 12 million confidential documents with some very scandalous info. These documents, called the Pandora Papers, revealed the assets and investments of some seriously high profile people (like ex-UK PM Tony Blair, Russian President Vladimir Putin...and celebs like Shakira).

What else: The documents show their investments have been made into offshore companies. Which, ain't illegal on its own, as long as it's all being documented.

So what's the key learning?

💡Offshore companies are companies set up in a country of jurisdiction outside of your own. Generally, they're in countries with really low tax rates. Think Puerto Rico, Panama and the Cayman Islands.

💡It's estimated around 10% of the world's wealth is parked in offshore tax havens, which costs governments around the world hundreds of billions of dollars in lost tax revenue. While it's not always for dodgy purposes, it can be a way to shift profits from high-tax countries...to "companies" that exist only on paper in these low-tax countries.

💡But offshore companies are also used for illegal purposes (i.e. tax evasion, money laundering and organised crime). And when celebs and politicians are found to have these offshore accounts...it definitely raises eyebrows.