You say they did some good in the world through charitable work. They failed in their primary duty to run the company. The vast majority of people in the not for profit scene don't receive the same salaries these part time philanthropists are getting and they certainly don't have the opportunity for endless self promotion, award collecting and 24-hour selfies.
Isn't it wonderful that a bunch of execs can grab huge salaries to build unsustainable businesses that wipe out thousands of people but still be assured of accolades every time they post a selfie of one of them putting a couple of coins into a Salvo tin.
Apart from investors, the tragedy here is for the workers and their families. They may have been subject to false hope and that is entirely the fault of management. Many families would have been facing terrible uncertainty during the cost cutting and the shutdowns only to have their hopes momentarily restored by the Cheshire Cats. If there is no cash left, what happens next? Don't feel sympathy for management, feel anger. I'm furious that the state government is subsidising this company.
AGO Price at posting:
12.0¢ Sentiment: None Disclosure: Not Held
