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Originally Posted by beacon
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...
And what has jailing corrupt decision makers done in the States? Make the lawyers rich and make the frauds ever more sophisticated.
Madoff = US$65b fraud.
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Originally Posted by Balance
And what has jailing corrupt decision makers done in the States? Make the lawyers rich and make the frauds ever more sophisticated.
Madoff = US$65b fraud.
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...
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Originally Posted by beacon
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."
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Originally Posted by minimoke
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."
What a great idea.
And NZ should also require their partners (wives mostly) and children to become slaves and servants as well.
And why stop there? There are brothels which the females should be sent to and Pike River Coal where the males can be sent to to work.
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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 ???
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I am unsure about capital punishment. Naming and shaming is what I seek, so that trust can be protected. I am not for punishment, for punishment's sake. It should serve as a reminder, a deterrant, it should set an example. How far is too far, I don't know. But we must make a start to clean up and expose the filth.
It is the sanctimonius that we must beware of most. Beneath is boiling dirt...
Disclosing failures should be part of good practise, even encouraged, especially for people in positions of trust and power and decision making. Failures are our stepping stones to success, they build our true experience and skill sets. Disclose them when you seek somebody to trust you with their money, life, wealth etc and respect that the other person has a right to informed choice. Some may say this is idealistic, but it is also pragmatic for those who choose to be marathon runners rather than sprinters in career...
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Waiting until a capital punishment is handed out takes a long time at the best of times....trying to point to the right person in companies takes forever as most people suffer memory issues when blame is being handed out.
A register of who is involved in what might be a first point.
After all did anyone remember that this was not the first time Witi Ihimaera had been caught for plagiarism?
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Originally Posted by Anna Naum
A register of who is involved in what might be a first point.
Heres a copy of parts of my register. Sorry about the layout. I don't know how to paste excel in here. Use at your own risk.
Mascot Finance 3/03/2009 Brian Kreft Judith Lane Kenneth Lane David Stock
Orange Finance 18/08/2008 Doug Somers-Edgar
St Kilda Finance (All Purpose Finance) 24/08/2008 John Farry Peter Hutchison Olive Matson Stuart Perry Wendy Stein
Strategic Finance 8/08/2008 Kerry Finnigan Michael Hobbs Graham Jackson Marc Lindale Denis Thom David Wolfendon
Hanover Finance 23/07/2008 Mark Hotchin Eric Watson (Richard Long in the Ads) Greg Muir Tipene O'reagan
Guardian Trust Cash Plus 29/07/2008
AMP Capital NZ Property Fund 1/08/2008
AXA Property 5/08/2008
Dorchester Finance Ltd 25/06/2008 Paul Byrnes Michael Fisher John Gosney Barry Graham
St Laurence Ltd 24/06/2008 Kevin Podmore Sandra Lee
Majority Shareholder: Dorchester Pacific
Dominion Finance Holdings 18/06/2008 Vance Arkinstall Richard Bettle Ann Butler Terrence Butler Rober Whale Paul Forsyth Majority Shareholder: South Canterbury Finance, ACC
IMP Diversified Income Fund 6/06/2008 Christopher Alp Ruth Richardson
Majority Shareholder: ICPL Ltd
Belgrave Finance Ltd 28/05/2008 Shane Buckley Stephen C Smith
Majority Shareholder: Investment Enterprises Ltd
OPI Pacific Finance (previous MFS Pacific Finance) 18/05/2008 Jason Maywald
Majority Shareholder: OPI Pacific Ltd
Fairview NZ (previous name Cymbis NZ) 13/05/2008 Owen Tallentire
Majority Shareholder: Sprinbook Trustees. Direcotr Wayne Douglas, Neal Nicholls)
Kiwi Finance 15/04/2008 Rodney Greenshill Barry Lambert
Majority Shareholder: Kiwi Capital / Tasman Capital - Director David Hopkins)
Lombard Finance and Investments 3/04/2008 Lawrence Bryant Sir Douglas Graham Hon William Jeffries Michael Reeves
Majority Shareholder: Lombard Group
EDIT: Four direcotrs fave civli proceedings 13/4/2010
MFS Boston (Subsidiary of Australina MFS)
Numeria Finance 17/02/2007 Neal Nicholls Owen Tallentire
Capital + Merchant Finance 29/11/2007 Neal Nicholls Colin Ryan Robert Sutherland Owen Tallentire
edit 19/3/10 criminal charges laid and civil proceedings begun (+ Wayne Douglas)
Capital + Merchant Investments 29/11/2007 Neal Nicholls Owen Tallentire
Geneva Finance 16/10/2007 David O'connell Peter Francis
Beneficial Finance 11/10/2007 Kane Oldham Mervyn Oldham Simon Oldham
Clegg and Co Finance 5/09/2007 Brian Clegg (edit 16/12> Got 1 year Home Detention on two charges)
LDC Finance 4/09/2007 Kevin Elliott Christopher Hardiman David Miller
Finance and Investments 5/09/2007
Five Star Consumer Finance 30/08/2007 Anthony Bowden Nicholas Kirk Marcus Macdonald
Property Finance Securites 29/08/2007 Daryll Queen Barnaby Sundstrum
Majority Shareholder: Property Finance Group Ltd
Nathans Finance 21/08/2007 Mervyn Doolan Keneth Moses Donald Young
Bridgecorp 2/07/2007 Bruce Davidson Rodney Petricevic Cornelius Roest Peter Steigrad Gary Urwin
Western Bay Finance 1/08/2006 Donald Johnston James Smylie Kaaren Smylie
Provincial Finance 1/06/2006 John Edilson Phillip Wheeler (colin Meades in the Ads)
National Financial 2000 1/05/2006 Anthoiny Bandbrook Carol Braithwaite Trevor Ludlow
Edit
Feltex Tim Saunders, Sam Magill, John Feeney, Craig Horrocks, Peter Hunter, Peter Thomas and Joan Withers Edit Directors in court 12 Aopril 2010
Blue Chip Mark Bryers Bob Bangerterl.
16/12. Selwyn Cushing for BIL, Air NZ, BNZ, Ansett (?) CableTalk (thanks nevl / percy)
19/3/10 Peter Huljich: Resigned HWM for not telling fellwo direcots of personal top ups
Last edited by minimoke; 13-04-2010 at 03:47 PM.
Reason: fix lines Add Hanover, Feltex, Blue chip directors
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Bravo
Originally Posted by minimoke
Heres a copy of parts of my register. Sorry about the layout.
Much appreciate your effort minimoke.
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Originally Posted by Balance
What a great idea.
And NZ should also require their partners (wives mostly) and children to become slaves and servants as well.
Would there be a queue for Nicky Watson?
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