As a student, some work experience is useful for the resume. Back in 1987, while studying Law and the Securities Institute's Diploma of Applied Finance and Investment, and with an Economics degree under my belt, I applied to numerous businesses for some work experience over the summer break. I adopted the age-old tactic of applying to as many businesses as you can to see who responds.

With an interest in finance, I applied to Rothwells Limited, the merchant bank run by the late Laurie Connell and also Tricontinental Corporation. Students of Australian business history will recall that both these companies were consumed by their losses and bad debts in the aftermath of the 1987 stock market crash. Rothwells collapsed in 1988 following the withdrawal of life support by the WA Government and the late Alan Bond's Bond Corporation. Tricontinental collapsed in 1990 due to its disastrous loan book, including loans to the late Christopher Skase's Qintex Group. Somewhere, I also have a work experience rejection letter from Qintex. (I must have been aiming for the future insolvency trifecta!)

The date of the rejection letters is interesting. Tricontinental's letter is dated 19 October 1987. That night, the US stock market crashed. Rothwells's letter is dated 20 October 1987. Kind of the State Manager to take time out from the Australian stock market imploding around him to sign my rejection letter.

In the end, I spent a couple of weeks in late 1987 doing work experience with the law firm where I later completed Articles of Clerkship before being admitted as a Solicitor.

An amusing anecdote on the 38th anniversary of the 1987 stock market crash.

October 2025

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