Adam Schwab
Adam Schwab is a commentator, business director, and the co-founder of LuxuryEscapes.com. He is also the author of Pigs at the Trough: Lessons from Australia’s Decade of Corporate Greed.
The most surprising aspect of last year’s float of Myer was not that its performance has been horrid, but rather, than anyone thought buying a department store business from a private equity firm would be a good idea.
The notion that boards have no incentive to overpay executives or that remuneration consultants are "independent" makes Alice in Wonderland look like a piece of non-fiction.
In an uncharacteristic display of appreciation, Citibank boss Vikram Pandit thanked US taxpayers for bailing out the world’s once biggest financial institution -- then slapped them with a new credit card fee.
Few Australians would have heard of Charlie Munger, despite him being long-term business partner of billionaire investor Warren Buffet. But Munger has some good advice for Australians on their reliance on debt.
While agents put price rises down to shortages and New York Ponzi schemes, the more likely reason is that Australians pay too much for property using too much debt.
While politicians and the media laud Australia’s "world-beating" property market, precious capital is being greedily soaked up by an asset class that confers minimal economic benefits.
The Australian property market has continued its merry march skywards. If the music stops, it will get very ugly for taxpayers and young buyers sucked into purchasing their first property.
The only thing Telstra management is any good at is sacking workers, since just about the only area where Telstra appeared to improve its bottom line was in labour costs, which fell by $185 million.
Former US Treasury Secretary and Goldman Sachs CEO Henry Paulson on Tuesday undertook a strident defence of his management of the US economy during the height of the financial crisis.
Foolish errors such as the one committed by the Office of Police Integrity are an almighty disservice to taxpayers, who spent millions of dollars to ensure that justice was served.
