Companies

May 29, 2012

Prophets and losses: it’s always someone else’s fault

It’s almost impossible to open the financial pages of a newspaper and not read about someone blaming someone else for their own mistakes.

Adam Schwab — Business director and commentator

Adam Schwab

Business director and commentator

It’s almost impossible to open the financial pages of a newspaper and not read about someone blaming someone else for their own mistakes. Be it investors, highly paid yet poorly performing executives, or protesting Greek citizens — it’s always someone else’s fault.

8 comments

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8 thoughts on “Prophets and losses: it’s always someone else’s fault

  1. bjb

    Adam – another great article. Good work on pinging the CEOs who blame the government for their problems. Rather than whinge, most of them should start doing something to actually earn the vast amounts they pocket.

  2. Bill Hilliger

    Bernie Brookes – the former owners of Myer did their cutting and gutting of Myers, many people lost their jobs and, as expected, so too, quality of service went out the window. The former owners onsold a gutted Myers; investors were sold a dud. Quality of service at Myer is abysmal – maybe that is part of the reason why your organisation is not doing so well. Anyway soon you’ll also be able to blame the carbon tax as a reason for your problems. We all know there are many fairweather CEO’s and company executives who will always blame some other factors for their poor showing in business, afterall its the Australian way isn’t it?

  3. fozziewossie

    Many good points Adam. Now we just need most media to ignore the whingers and we’ll all be much more productive for it.

  4. mikeb

    Cato the Elder used to admonish the Roman people that “Carthage must be destroyed”. Said often enough the Roman people came to believe the same thing. Hitler blamed the Jews for the German malaise after WW1. Unemployed timber workers blame greenies for the pulp timber market collapsing. It’s natural that people would rather blame others for their own misfortunes or mismanagement. This time around it is the federal government.

  5. Stickey

    I just like the way Adam “takes the pith out of them” and makes a valid argument. Suggesting a change of government disqualifies them from running any business. It’s time shareholders took these executives apart. Given recent exemplary failures it seems these same incompetents can’t ask for three simple figures every Friday – turnover, profit, and, bank balance !!

  6. shanghai

    Great article.

  7. Alister Cyril Blanc

    Great article, as usual Adam, but about Greece we probably should admit to the fact that…JP Morgan estimates that only €15bn of the €410bn in new “aid for Greece” actually went into their own economy….the balance merely looped through their system back to their creditors…

    http://coppolacomment.blogspot.com.au/2012/06/real-bailout.html

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