Pity the NZX does not have the strength of character that one of its committee members has.
http://www.stuff.co.nz/business/3085...ors-not-wanted
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Pity the NZX does not have the strength of character that one of its committee members has.
http://www.stuff.co.nz/business/3085...ors-not-wanted
And any troubled company where directors failed to keep shareholders informed of the situation,i.e feltex.
Mark Weldon it seems hasn't got the balls,he would rather play around with corporate plays than do his primary job,The Reason For Him Being There,to govern and police the listed companies on the nzx.
It is good that finally someone have put this issue out in the open instead of protecting the "old boys network".
There should be a website with a list of these guys.
As Bruce Sheppard wrote - "The investors are too dumb."
Like ants to poison, they will come back time and again.
I guess the point is that Directors of failed companies can be banned for 5 years, yet you can loose $$$$millions of dollars and walk down the road and do the same thing.
i feel a lot can be achieved by this forum.
i have noted the well informed posts,in particular yours on gpg and kmd.
these discussions help us all and i am sure any crooked director will have the
errors of their way quickly brought to our attention by sharetrader posters.
Absolutely support Chris' stance and stand. Directors who hide failures are sophisticated cheats. Honesty and integrity will go a long way towards ensuring faith in our capital market system. It is a pity that we don't jail corrupt decision makers like they do in US...
Not sure of the correlation between the two observations. However, it sets an example to begin with. The deterrent factor has never been quantified, but it stands to reason that prevention will be better ( in this case, cheaper) than cure. The stick is a great inspiration...
Or perhaps we could follow Chinas lead. They've executed two people involved in the Sanlu Tainted Milk scandal. 300,000 children fell ill and at least 6 died.
"Geng Jinping was convicted of producing and selling toxic food, after selling more than 900 tonnes of tainted milk.
Cattle farmer, Zhang Yujun was executed "for the crime of endangering public safety by dangerous means" -- he produced more than 770 tonnes of melamine-laced protein powder, of which he sold more than 600 tonnes, between July 2007 and August 2008.
The woman most widely blamed for the tragedy Sanlu's former general manager, Tian Wenhua, received a sentence of life in jail."
Some where there is, or was, a web page that listed all company's
and their directors. By using XL spreedsheet you could find what
directors doubled up etc..
Maybe a good webpage man wanting a bit of exposure could
ressurect this angle and include CEO's
Just a thought !!!
BB:)
Interest.co.nz maybe ???