Earlier this year when I raised the possibility of someone at the company posting on hot copper, the general response I got went something like this...
" Johnathan Sellar is a very busy man, it would be ridiculous for him to waste his valuable time posting here when he is working very long hours "
and another said...
" They would lose all credibility if they posted on HC, lets just leave them to do the very hard job of creating value for the holders"
I also suggested that they were probably like most Co execs, and they likely took 2 hour lunches, I suggested that rather than working hard they had jobs with loads of perks, and probably took loads of time off.
I was amazed by how most back then seemed to back the consensus that they were a hard working bunch of ethical guys just trying to make us all rich......and here we are today, seems the lynch mobs are out in force, also seems my estimation of these people was pretty spot on. Having worked in catering years ago and having a lot to do with servicing the lavish needs of many company execs in my time I have seen first hand how a business luncheon often turns into a very lavish splurge on the companys dime, with bills for a four man luncheon turning into a few thousand dollar binge. This will continue to happen because we let it, It is part of the corporate ethos and has been for a very long time, if companys were truly responding to to a global downturn these practices would have been curtailed, but contacts I still have in the Catering industry assure me it was business as usuall right through the whole GFC period. So I am not at all surprised that these leeches are getting in for their chop while the gettings good.
BBI Price at posting:
4.2¢ Sentiment: Sell Disclosure: Held
