Ok, If we are talking AFR article(s): 1: The $3 m tax evasion for inflated equipment, happened in 2006, he's paid back the money to Mins, was listed in the IPO as a liability. He's apologised, and so long ago i'm really struggling to see the relevance now. After that time, those who invested in Mins in 2006 have made an over 15 X gain on investment, so they can hardly feel short changed.
2: Used MIns staff to help with his boat; i think its ridiculous. Whilst they're filling his boat with petrol, its freeing up his time to problem solve for Mins and add value, and presumably when they're on the boat they are all talking Mins, forming a better team and solving problems and adding value to the company. So i'm fine with it.
3: Not charging his sister rent. Virtually all office buildings have spare space, so the marginal cost is 0; presumably the sister was providing value add to Mins by getting better shipping rates for its customers. So again, so trivial and ridiculous. Ask the AFR if when the staff bring their children into work say during school holidays, when they can't arrange care, whether the AFR charges the children rent for the space they occupy? If not, what's the difference?
That's about all i can even think of.
I think most of his so called "breaches" were more inadvertent than deliberate, very trivial, and do not effect the inherent value of the Mins business in a negative way. Basically nitpicking.
List a few others if you can remember any, and i'll provide a response.
MIN Price at posting:
$24.31 Sentiment: Buy Disclosure: Held
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