Robert Kelly's performance on the Four Corners was jarring. Calling out 'liars' is a weak and deflective approach that does very little to aid the situation. I was discussing this with someone today and we both agreed that the best course of action is to admit that there could be faults that need to be investigated.
If the Trowbridge review is going to be the backbone of the defense on the matter, at the very least be willing to concede that there could be issues within the business that need addressing, intentional or not.
Whether that saves the shareholders anything on the day, I don't know - but it would certainly take some heat out of the situation as an onlooker.
Basically saying "we see no wrongdoing per the law" never looks good to the public, who sees the law not only as just the rules but also the bare minimum set of standards (and therefore expect better).
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However, only back around to where it was in June, so basically just giving back the $1 bn increase it put on between then and now. (And it spat out a dividend in the interim as well).
I must admit to being surprised; I was expecting far worse.
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