It's actually the board's charter to look after personal interests (of the shareholders). Crap job they've done admittedly.
What is NOT in their charter (or the charter of any company that any of us have ever invested in), is the national interest. Who's national interest?? What does that even mean?? Just because my passport may have some cuddly edible creatures on the front cover does not mean I will make investment decisions/business decisions based on anything but sound financial sense.
How many of us have invested in property/stocks/business opportunities because of the "National Interest"? Not many I'm guessing. So why should a QF shareholder/board member be any different?
Yes, Joe Hockey probably does act in the "National Interest" (I still have no idea what that means, other than it has all the hallmarks of being either xenophobic or bogan) but THAT'S HIS JOB.
I can't imagine calls for the taxpayer being forced to become stockholders will help any current QF employees. The new board members of Tony Abbott and Eric Abetz will make Clifford look like Mother Teresa.
Be careful what you wish for.
Instead of forcing a Holden/Ford/Alcoa/SPC worker or millions like them (including VA employees) to buy QF shares, convince them. I'd love to be convinced once again that QF is a good investment. I haven't seen or heard anything coming from QF (and as someone said that's 33,000 people, not a board and senior management) to convince me.
And instead of having a potential shareholder base of 20 million, that needs to be opened up to 6 billion. The QSA is from a bygone era. If anyone thinks a shareholder is going to make decisions based on the colour of their passport you're delusional.
Last edited by Progress Wanchai; 23rd Feb 2014 at 02:19.