Michael Pascoe writes:
Overlooked in the Media Watch
Bill Wavish’s interview with himself is the actual message he was
pushing. Start asking around the retail trade and you’ll find a theory
maybe the interview was indeed all Bill’s own work for his own
The actual story Wavish was dropping on any
journalists willing to run it was effectively just a claim that the previous
Myer management was totally inept, running vastly overstocked stores.
The new Myer, being private equity, doesn’t
have to justify its performance to anyone. The doubts that exist in retail land
about the equiteers’ retail savvy and the price they paid for Myer shouldn’t
matter to anyone with no stockmarket price to be influenced. There is the
little matter of the debt market though to keep happy.
One Wavish watcher thought a vindictive streak might have
tempted him to have a slap at Myer when given the chance. He was judged capable
of penning his own hatchet job, which you can read here courtesy of Media Watch.
Bill’s version of Myer’s state of play is
rather different from the one circulating around retail land – where the words
“chaos” and “corporate mess” can be heard. Who indeed is minding the store?