TZ Failure Delivered

Friday the 11^th of August 2017. A normal day in Sydney/Australia, for most of us.

Picture yourself a person of extreme experience in business. Honorary Doctor at UNSW and UNW, Fellow of CA and FINSIA Australia and finally you hold an AM.

Imagine for a moment having these things and all that comes with it. Besides these things you are the Chairman or Board Member of several organisations, one of them being TZ.

TZ has for years now never made any money (great loses actually), raised capital predictably and regularly. Now has borrowed money. There are ASIC complaints related to serious matters hanging over this business. And you yourself personally have extracted great money from the business. That money being that of shareholders and friends.

As the fumes of failure are starting to waft into your Chifley Square office you sit still. What are you hoping for? Where is the out? What effect would a TZ take down have on you personally and professionally? How would lending institutions view a corporate failure on your watch? Will there be an investigation and if so what would it find?

Sometimes I think we should pay people what we do, after all they are the ones living with the anticipation of failure every day. A pain far greater than any I can imagine. My father always said “Address your failures today, if not they will still be there tomorrow.”