It’s not easy to get inside the mind of a High Court judge, but when Justice Gummow used the word “Orwellian” last week in the latest instalment of ASIC v Andrew Forrest a bell tinkled in my mind.
The government says new legislation will put the onus on listed companies to make sure they have provisions to clawback bonuses and other pay from executives.
A quick way to ruin a business is to penalise successful employees and reward failures, which is what seems to be happening in Australia with the unbalanced re-distribution of the goods and service
A business acquaintance of mine, the founder of a leading manufacturer of industrial blinds and awnings, had always sold through a dedicated network of distribution representatives.
There is no law against providing lousy financial advice, but there ought to be, and the first person investigated should be the man in charge of Australia’s finances, Wayne Swan.