After careful consideration I now declare the MFS Board not guilty..
How could any of us have been so damn distrustful of the Board. I have eventually read the "The Hon. Andrew Peacocks" opportunist letter to all of us lucky shareholders.
They have after all apparently undertaken several initiatives to steady MFS. Wow that is sooo good of them after all of us messed up the company. "Steady", bless their little hearts is that another word for save. Now they can complete their "strategic review".
Stella Sale - sold for next to nothing, however another $3.2 million to come???, they are really on the ball..
Park Hyatt - a big pat on the back for us board members, we made a PROFIT on something ( please take this into consideration for an annual salary increase)
Domain Aged Care - another great outcome, they just keep surprising us don't they..
GIP Sale - not so good as we paid them $100 million (shares) & we are only getting 20 million. No hang on the shares are worth zip so we are making money AGAIN..
NZ - don't worry about them they are across the Tasman & haven't yet heard the news that we are no longer around - BAD LUCK NZ - that'll teach you to beat us at Rugby.
Redundancies - Only keeping empoloyees who are apparently necessary to manage the businesses they will retain (or maybe reworded means what's left.) Andy forgot to mention that all board members will be undertaking TAFE courses at the company's expense so they know how to work reception, order stationary, operate the photocopy machine etc.
Change of Name - another winfall, they actually are receiving a cash payment(no amount mentioned) so they can distance themselves and their resumes from the great corporate failure.. Always thinking aren't they.
Outlook - they claim they are working hard - would you ever doubt them!
In closing their argument & denial of losing billions, all they are asking is that you judge them fairly. All previous monetary losses should be removed from the evidence & a fair trial conducted.
Oh yes that annoying Chris Scott - don't worry about him, we will send you all another love letter explaining why we oppose his resolutions - only because we haven't come up with one yet & we are all real tired after the MFS Sale. Anyway had to get rid of the PA who would normally know what to write as none of us know s&it from shoe polish.
Love yous All - Andy Pandy xx
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