Greed is no longer good as corporate trust fades
Scan the business pages each day and you will see a plethora of companies that have tied their reputations to a stake and lit a match.
Star Entertainment, PwC, Qantas, CS Energy, AustralianSuper are, or have been, in strife recently but you could swap those names out with another list in a month’s time.
The lesson never seems to be learnt and shareholders are the ones to face the impact as they watch their wealth wash down a drain.
The investment community, even during a cost-of-living crisis and falling standards of living, are nonetheless happy to reward companies that increase their margins.
The primacy of the interests of shareholders means that greed is indeed good.
Throw into this mayhem of mistrust the media, lobbyists, politicians and indeed unions where power and influence are the currency, and the public is left asking who then, do we trust?
A Roy Morgan survey last week showed there was a rising level of distrust for business and since the pandemic, when there was a spirit of community, it’s........
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