I love war stories on the last trading day of a bourse. I was...

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Tylemahos

2,672 Posts.

22/09/17

14:32

Post #: 27398352
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Originally posted by 64eheh ↑

such a nice quiet corner of H/C here...........

thought I'd share a story.

Back in the days of starting my own business, I remember talking to my accountant. He was discussing motor vehicles and patnerships and small business in general. Seems as so many had hassles as to when and how to get that new car and lease it through the business. As he saw it new cars caused a lot of friction between partners and also with business finances.

"What about the businesses, themselves" I asked, " didn't they think about the new cars drain on finances and about growing the business"

"Ohh, no,no, no," explained my accountant, "it was the attraction of a new car and wealth that was the driver....business, what's that........that comes second"

And now that I have had a chance to look at big business, ie, listed ASX companies, the story is still the same. Only the amounts are bigger but the players seem the same.

The moral of the story.....

Try, as best you can, to look for directors that are passionate about their companies and keep well watch on those that seem to want to line their own pockets..........

It can make a difference.

.

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I love war stories on the last trading day of a bourse.

I was chatting to a partner from Ferrier Hodgson once. Around the time OneTel went belly up and my girlfriend (now wife and mother of 2) and I walked away from our contracts with brand spanking new (and free) Nokia mobile phones.

I asked - "based on your experience, what are the tell tale signs that a company is about to go bust".

His response - "when I see a staff car park full of personalised number plates and corporate office filled with fish tanks".

I very much agree with you 64 - "It can make a difference."

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