Thursday, 25 August 2011

“…just like shallow self-promoting tools” [updated]

After reading pathetic self-serving pronouncements this week by Sam Stubbs*, Sam** & Gareth Morgan***, Rod Drury**, Mark Weldon** and the like, I can only agree with Cactus Kate:

There are a new breed of weasel word corporate-welfared CEO's and Directors in NZ. They promote themselves as anti-Business Roundtable establishment, hip and new age.
They like to be liked by the public.
They are starting to look however just like shallow self-promoting tools.

No wonder we have a government happy to keep borrowing billions as the bubble is about to burst again--when there is no political opposition, and so-called “business leaders” are this bad.

* * * * *

* Kiwisaver provider calls for compulsory Kiwisaver.
** Do as I say, not as I do.
*** Rot at the centre of Gareth Morgan’s brain.

UPDATE:  Rod Drury wrote to Cactus defending himself. He shouldn’t have bothered: she ripped the bludger a new one.


Julian said...

Fortunately, there's at least one honest person in the Finance community [scroll down for his commments]:

“Ed Schuck, former head of Russell Investments, said a vote for compulsion was effectively a vote against choice. He said forcing New Zealanders to use KiwiSaver as their primary means of retirement savings assumed that Kiwis did not know how to handle their finances and further that they didn't deserve the luxury of choice. He also rejected the argument that compulsion led to increased savings…”

I wish other members of the investment community would adopt this view rather than advocate what really is welfare for fund managers.


Kiwiwit said...

I call this tendency for successful businessmen (and it's invariably men) to support left-wing causes after they've made their fortunes the "Robert Maxwell Syndrome". Like Robert Maxwell, who was a billionaire Socialist and UK Labour Party supporter, there is a huge hypocrisy in their position. It's as if, having made their fortune, they feel guilty and start advocating policies that will prevent anyone else making such a fortune. Maxwell, of course, turned out to be crook who killed himself just before his dishonesty was discovered.

Anonymous said...

There is nothing wrong with being anti-establishment and anti Business Roundtable Peter. My husband has been anti both these things for at least 25 years.

Weldon is not anti as such. He is pro-Weldon. He would like to head the Business Roundtable.

Some would call it rational self-interest. Food for thought, eh.