From all reports David Coe was a generous man, loved by friends and family, who died too young. But that doesn’t change the fact he presided (and personally benefited) from a massive corporate collapse.
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DAVID COE
What David Coe taught us: CEO and chairmen can’t be one
When examining companies that collapse, especially very large ones, there is a common feature in the way they are managed: the person running and chairing the company is one of the same.
READ MORECrikey’s Business Awards of the Year: people
While Australian stock markets rebounded with vigor, and property prices continued to bubble away, Crikey celebrates those who made it all possible, and made 2009 truly a year to remember.
READ MOREDavid Coe’s mystifying board election
The likes of the Business Council of Australia and Australian Institute of Company Directors need not be too concerned about the “two strikes” rule — David Coe and RHG just proved as much.
READ MOREAllco name change should be worth a few cents on the share price
The real story today from today’s stock exchange announcement from Allco Equity Partners is that its name is mud, hence the proposal to change it, writes Glenn Dyer.
READ MOREAllco share price drops to all time low
Allco founder David Coe and directors Gordon Fell and David Turnbull announced yesterday that they are standing down, but not leaving the company just yet, and the share price dropped 25% to an all time low of 60 cents.
READ MOREAllco board purge: hands up who wants to be chairman?
The list of Allco basket cases is growing, writes Glenn Dyer.
READ MORETime for corporate plod to throw the book at multiple Allco scandals
If you were the spindoctor for Allco Finance Group, you would be feeling pretty down this morning, writes Stephen Mayne.
READ MOREIntriguing Allco takeover bid takes a turn
The intriguing takeover bid for Allco Equity Partners by Regent Street Installments Pty Ltd has taken a turn, with ASIC sending Regent Street executive director, the once-jailed Stephen Matthews, a letter rejecting the audacious bid, writes Adam Schwab.
READ MOREWhy did it take ANZ so long to announce problems?
A note from a Goldman Sachs JBWere analyst summed up the frustration many in the markets have at the moment, writes Glenn Dyer.
READ MOREAllco dirt sticks to Teflon Rod Eddington
Allco disappointed the market yet again yesterday, delaying announcement of its interim results until some other time. Allco non-executive director, Sir Rod Eddington, would most likely be the most significant victim of the fiasco, writes Adam Schwab.
READ MORETeetering trio becomes “the leveraged eleven”
The teetering trio – Centro, MFS and Allco – are not alone it seems. Indeed, the cascading credit crisis means we’ve already gone past “the sagging seven” and are now looking at a “leveraged eleven”. Stephen Mayne provides an around the grounds summary.
READ MOREAllco crunched as debt contagion spreads
The debt contagion is spreading and today it is shares in Rich Lister David Coe’s Allco Finance Group which have been crunched by as much as 30%, writes Stephen Mayne.
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