It may have been an opportunity for the PM to exchange more than frank views with Sydney Airport Ltd chairman Max ''shit happens'' Moore-Wilton.

Abbott officially anointed Badgerys Creek as the site of Sydney's second airport on Tuesday with a rather expedited time frame for delivery.

''My expectation is construction will begin in 2016,'' Abbott said.

Last year Moore-Wilton told a sizeable audience: ''When people tell me the concrete trucks are going to start pouring in the first term of this government, boy oh boy, I wonder what they have been smoking.''

So Max, what's in our PM's pipe?

Moore-Wilton's CEO at Sydney Airports, Kerrie Mather, was too busy on Tuesday to offer her views on Badgerys Creek, and apparently royal duties will keep her safely away from the media again today.

Not that she has anything to hide. CBD believes Sydney Airport will make a wonderful operator of both airports if it takes up its right to develop and operate Badgerys Creek. Never mind that the competition watchdog recently branded Sydney Airport the worst of the country's big four airports - again.

''Sydney Airport's low quality of service ratings and relatively low investments in the face of ongoing increases in demand, suggest that needed investments have not been forthcoming,'' the Australian Consumer and Competition Commission said in its report.

What a Downer

Speaking of royalty. The Hon Alexander Downer has stepped down from his duties to HRH (Her Royal Heiress) Gina Rinehart to fully devote his energies to his new role as high commissioner to the Queen and Mother Country.

Thursday marks his last day as Rinehart's rep on the boards of Lakes Oil and Sun Resources.

His tenure has not been fruitful at either company. Lakes shares roughly halved during his 14 months as a director, while Sun stock has shed about 75 per cent of its value during his 18 months.

Special mention goes to AO Energy, where he lasted just nine months as a director when the revamp to position the company as ''an emerging oil and gas business'' went belly-up. The company emerged from a lengthy trading suspension on Tuesday as a biotech called Reproductive Health Science.

Chinese telco equipment maker Huawei also wished Downer a fond farewell from its advisory board on Tuesday. ''Mr Downer has informed the board of his intention to step down. His term on the board will end this week,'' a company flack said.

Dead end

Former Sydney financial adviser Pavan Vyas has been banned permanently from ''engaging in credit activities'', ASIC has said.

This comes almost a year after he was banned permanently from working in the finance industry and months after he was convicted and sentenced to two years' jail for dishonest conduct.

Pavan engaged in ''tombstoning'' - when insurance brokers submit applications in the names of dead or fictitious people to earn commissions. Vyas reportedly used semi-famous cricketers like Kiwi batsman Martin Guptill and recent English tourist Tim Bresnan.

Interestingly, Vyas worked in Commonwealth Bank's financial planning unit from July 2010 to January 2012, but his conduct does not relate to his time at the bank, which has been hammered over fraud within its wealth management division that lost clients millions.

Phil's skills

CBD is wondering what career opportunity awaits Ashok Jacob's sprog Phil Jacob, who abruptly departed News Corp's Daily Telegraph after it turned out he is a bit of a greenie - recycling news from rival publications for the benefit of Rupert Murdoch's paper.

Given Jacob senior's close association with the Packer family over the years, CBD presumes a role can be found to match Phil's skills.

Got a tip? ckruger@fairfaxmedia.com.au