Brief lessons in busi­ness in­ep­ti­tude

Townsville Bulletin - - OPINION -

PHILLIP Thomp­son ( TB, 3/ 10) states he was stunned by com­ments pur­port­edly made by Fed­eral Shadow Trea­surer Chris Bowen con­cern­ing the Adani mine project.

By his own ad­mis­sion, around the time of the said re­marks, Mr Thomp­son re­ceived a “brief­ing” from Adani CEO Lu­cas Dow. Mr Thomp­son quotes him say­ing: “There is no com­pany in the world which is go­ing to put bil­lions of dol­lars of in­vest­ment in a pile and set the thing alight just for fun.’’

Mr Thomp­son sug­gests had Mr Bowen and Mem­ber for Her­bert Cathy O’Toole “both­ered to get a brief­ing they’d have a bet­ter un­der­stand­ing of how busi­ness works.’’

So for Mr Thomp­son’s ed­i­fi­ca­tion here’s a list of how big busi­ness can work: Storm Fi­nan­cial; Key­stone Group; Masters Hard­ware ( Wool­worths); Home Aus­tralia; Queens­land Nickel; Linc En­ergy; and Trac Con­struc­tion.

Each over lever­aged and/ or em­ployed poor ex­pan­sion strate­gies re­sult­ing in detri­men­tal busi­ness out­comes.

That’s a “brief­ing” way of say­ing they were busi­ness and fi­nan­cial dis­as­ters, some caus­ing real hu­man grief. Just be­cause they talk with you mate, doesn’t make it true.

Per­haps Mr Thomp­son might’ve liked to ar­range his next brief­ing at Townsville’s Max Bren­ner choco­late bar. An­other multi­na­tional trad­ing in some­thing black.

But alas that over lever­aged en­tity just closed. It seems over- in­vest­ing in a pile of choco­late can set it alight and no it wasn’t just for fun. SI­MON MITCHELL,

Rail­way Es­tate.

Newspapers in English

Newspapers from Australia

© PressReader. All rights reserved.