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  1. #1
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    Default Tainted Directors

    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

  2. #2
    Senior Member kizame's Avatar
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    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.

  3. #3
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    Quote Originally Posted by Anna Naum View Post
    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
    It is a pity that the Shareholders Association is not as passionate about this as it is about other things.

  4. #4
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    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.
    Having got ourselves into a debt-induced economic crisis, the only permanent way out is to reduce the debt either directly by abolishing large slabs of it, or indirectly by inflating it away.

  5. #5
    Senior Member kizame's Avatar
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    Quote Originally Posted by Dr_Who View Post
    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.
    Yeah but who would know to visit it?

  6. #6
    Legend Balance's Avatar
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    Default Why bother?

    As Bruce Sheppard wrote - "The investors are too dumb."

    Like ants to poison, they will come back time and again.

  7. #7
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    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.

  8. #8
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    Quote Originally Posted by Anna Naum View Post
    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.
    They become consultants and work behind the scene.

  9. #9
    percy
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    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.

  10. #10
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    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...

  11. #11
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    Quote Originally Posted by beacon View Post
    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.

  12. #12
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    Quote Originally Posted by Balance View Post
    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...

  13. #13
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    Quote Originally Posted by beacon View Post
    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."

  14. #14
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    Quote Originally Posted by minimoke View Post
    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.

  15. #15
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    Default

    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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